Kalyan Jewellers Stock Falls 2% Even as Q1 FY27 Revenue Jumps 38%, Citi Reiterates Rs 750 Target
Shares slipped to Rs 563.10 intraday despite strong operational metrics: 28% same-store sales growth, 46% recycled gold revenue mix, 35% international growth, and 112% surge at Candere. Company now runs 524 showrooms as Citi maintains Buy rating ahead of festive and wedding season demand.
What happened
Kalyan Jewellers shares slip 2% despite strong Q1 FY27 update showing 38% revenue growth, 28% SSSG, and Citi's Buy rating with Rs 750 target price.
Key facts
- down 2%
- Rs 563.10 intraday low
- Rs 566.80 at 11:21am
- Sensex down 0.61% at 77,680
- 38% YoY revenue growth
- 28% same-store sales growth
- 46% recycled gold revenue
- 35% international growth
- 112% Candere growth
- 524 showrooms
- Citi target Rs 750
Why this matters
With 524 showrooms live and international growth at 35%, Kalyan's expansion playbook and Candere's e-commerce traction make it a benchmark for scaling omnichannel jewellery retail.
What to watch
- Gold price movement (domestic and international) into Diwali/wedding season
- Broker upgrades/downgrades beyond Citi's Rs 750 target in coming weeks
- New showroom announcements or expansion capex guidance
- International segment (Middle East) same-store performance vs 35% growth base
- Any RBI/regulatory changes on gold loan or bullion import norms
- Track Q2 FY27 SSSG and showroom addition pace (target vs 524 base)
- Monitor Candere standalone profitability disclosure as it scales past 112% growth
- Watch peer results (Titan, Senco, PC Jeweller) for sector-wide margin commentary
- Check institutional ownership/FII flow data post-earnings for accumulation vs distribution
- Review management commentary on gold loan/hedging strategy amid price volatility