Kalyan Jewellers Rallies 40% in Five Sessions on Strong Q1FY27 Update, Citi Targets Rs 750
Kalyan Jewellers shares surged 40% over five sessions, hitting an intraday high of Rs 497.85, after a Q1FY27 update showed 38% YoY revenue growth and ~28% same-store sales. Recycled gold now tops 46% of revenue, international ops rose 35%, and Candere revenue more than doubled (+112%). The chain added 12 Kalyan and 5 Candere showrooms in India, reaching 524 total. Citi set a Rs 750 target.
What happened
Kalyan Jewellers shares rallied 40% over five sessions after strong Q1FY27 update showing 38% revenue growth, ~28% same-store sales, and rising
Key facts
- shares up 40.27% in five sessions
- intraday high Rs 497.85
- target price Rs 750
- Q1FY27 revenue +38% YoY
- same-store sales ~28%
- recycled gold >46% of revenue
- international ops +35% YoY
- Candere revenue +112%
- 524 showrooms total
- 354 Kalyan stores India
- 129 Candere outlets
- 12 Kalyan + 5 Candere added Q1
Why this matters
Candere's revenue more than doubling (+112%) and recycled gold topping 46% of revenue signal maturing growth engines worth doubling down on through targeted expansion and channel partnerships.
What to watch
- Full Q1FY27 earnings: gross margin and net margin trajectory vs revenue growth
- Gold price direction and its impact on studded-jewellery mix
- Same-store sales sustainability into festive/wedding season
- Franchise vs company-owned store economics as network hits 524
- Promoter/large-holder activity or block deals after the run-up
- Peers (Titan/Tanishq, Senco, PC Jeweller, Thangamayil) draw comparative flows and analyst read-throughs on SSSG
- Additional brokerage target revisions following Citi's Rs 750
- Management commentary framing gold-price tailwind vs organic volume growth
- Accelerated showroom expansion guidance and Candere digital push emphasized in investor communications