Kalyan Jewellers hits 10% upper circuit for second straight session on strong Q1 update
Kalyan Jewellers surged to ₹411.75, gaining 16% over two sessions after a robust Q1FY27 business update. India revenue rose 38% YoY on ~28% SSSG, international grew 35%, and Candere jumped 112% YoY. The company added 17 new showrooms, taking its total to 524.
What happened
Kalyan Jewellers hit 10% upper circuit for a second session after a strong Q1FY27 update: India revenue up 38% YoY, ~28% SSSG, international up 35%, Candere up
Key facts
- share price ₹411.75
- 10% upper circuit
- 16% gain in 2 sessions
- revenue +38% YoY India
- SSSG ~28%
- international revenue +35% YoY
- Middle East +30% YoY
- international 14% of revenue
- Candere +112% YoY
- 12 Kalyan showrooms launched
- 5 Candere showrooms launched
- 524 total showrooms
- 354 Kalyan India showrooms
- 38 Kalyan Middle East
- 129 Candere showrooms
- stock down 29% YoY
- 429% over 5 years
Why this matters
Candere's 112% YoY surge signals the online/omnichannel format is scaling fast and could become a strategic acquisition or partnership focal point in the digital jewellery space.
What to watch
- Actual Q1FY27 results: gross/EBITDA margin, studded ratio, net debt trajectory
- Gold price trend (revenue tailwind vs volume reality)
- Same-store growth normalization vs base effect in coming quarters
- Any promoter/PE (Warburg-linked) stake movement or block deals
- Candere online unit burn/profitability disclosure
- Brokerages issue target-price revisions and flag gold-price vs volume decomposition of the 38% growth
- Peer jewellers (Titan, Senco, PC Jeweller, Thangamayil) see sympathy moves and relative-value commentary
- Retail/momentum flows chase upper-circuit stock while some institutions trim on valuation
- Company likely to reinforce guidance on FY27 store-addition and franchise expansion pace