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Kalyan Jewellers has posted a robust performance for the second quarter of FY2026, reporting a consolidated revenue growth of approximately 30% year-on-year, fueled by strong festive demand and increased showroom footfalls across India and key international markets.
In India, revenues rose by about 31% compared to the same period last year, despite a high base in Q2 FY2025, which had benefitted from customs duty cuts. Same-store sales in India grew by approximately 16%, reflecting sustained consumer interest, particularly driven by wedding purchases and the early onset of the festive season, including Navratri.
International operations contributed to the overall growth with a 17% year-on-year increase in revenue. In the Middle East, same-store sales were the sole driver of a 10% rise, signaling a stable and mature demand environment. International markets accounted for nearly 12% of the company’s total consolidated revenue during the quarter.
Kalyan’s digital-first subsidiary, Candere, was a standout performer, recording a 127% year-on-year surge in revenue. The company attributed this to increased online engagement, stronger showroom conversions, and rising web traffic, underlining the success of its omnichannel approach.
The company also continued its aggressive retail expansion strategy. During Q2, it opened 15 new Kalyan Jewellers showrooms in India, 2 in the Middle East, and added 15 new Candere outlets across India, further reinforcing its presence ahead of the festive season.
On the financial front, Kalyan received approval from the lead bank in its consortium to release real estate collateral related to previously repaid debt, marking a key step in its ongoing debt reduction initiative. The company has resumed the next phase of this plan, aligned with its FY2026 financial goals.
Looking ahead, Kalyan Jewellers expects continued momentum in the ongoing quarter, with strong customer footfalls across major markets. The company plans to launch 15 additional showrooms in India before Diwali, supported by new collections and festive campaigns aimed at capturing seasonal demand.
As of September 30, 2025, Kalyan Jewellers operated a total of 436 showrooms globally — comprising 300 in India, 38 in the Middle East, 2 in the U.S., and 96 Candere outlets.
The company noted that these performance figures are subject to a limited review by its statutory auditors, with detailed financial statements to be released following board approval.
