Kalyan Jewellers drops ~9% despite 38% Q1 FY27 revenue growth
Kalyan Jewellers shares fell 8.62% to Rs 348.35 even as its Q1 FY27 business update showed ~38% consolidated revenue growth, ~28% SSSG, ~35% international growth and 112% Candere revenue surge. The company added 12 Kalyan and 5 Candere showrooms, taking its total to 524.
What happened
Kalyan Jewellers shares fell nearly 9% despite a Q1 FY27 update showing ~38% consolidated revenue growth, ~28% SSSG, strong Candere and Middle East gains, and
Key facts
- shares down 8.62% to Rs 348.35
- consolidated revenue growth ~38%
- India revenue growth >38%
- SSSG ~28%
- international revenue growth ~35%
- Middle East growth ~30%
- international 14% of revenue
- Candere revenue growth ~112%
- 12 Kalyan showrooms launched
- 5 Candere showrooms launched
- 524 total showrooms
Why this matters
Candere's 112% revenue surge and ~35% international growth validate the multi-format, cross-border playbook as scalable engines worth doubling down on.
What to watch
- Gross margin and studded-jewellery mix in detailed results
- Franchise vs owned store revenue split and net debt levels
- Gold price volatility and hedging commentary
- Candere profitability path amid 112% revenue surge
- FII/DII flow and delivery volumes on the sell-off
- Watch for full Q1 FY27 earnings release detailing gross margin, studded ratio and net debt
- Monitor brokerage reactions and target-price revisions post business update
- Track gold price trajectory as a driver of revenue optics vs real volume growth
- Assess peer read-through to Titan, Senco, PC Jeweller