Kalyan Jewellers Share Price Declines Despite Revenue Growth in Q4FY25

Market Performance

On April 7, 2025, Kalyan Jewellers Ltd.'s share price dropped by over 4% after the company released its fourth-quarter business update. At 10:55 AM, the stock traded at ₹470 on the National Stock Exchange (NSE).

Quarterly Business Highlights (Q4FY25)

Revenue Performance

India Operations

• Revenue increased by approximately 39% year-on-year.
• Growth was primarily driven by robust demand linked to the wedding season.
• Same-store sales growth (SSG) was reported at around 21%.

Middle East Operations

• Revenue rose by nearly 24% year-on-year.
• This growth was also attributed to improved same-store sales.
• The region contributed about 12% to the company's total consolidated revenue.

Candere (Digital-first Jewelry Brand)

• Revenue declined by around 22% compared to the same period last year.

Operational Developments

• Kalyan Jewellers opened 25 new showrooms across India during the fourth quarter.
• An additional three showrooms were launched in the first week of April 2025.
• Candere expanded its presence with 14 new outlets during the quarter.

Expansion Plans for FY26

The company plans to open 170 new showrooms across Kalyan and Candere formats in the upcoming financial year. This includes:

• 75 franchise-owned company-operated (FOCO) Kalyan showrooms in non-southern regions of India.
• 15 FOCO Kalyan showrooms in southern India and international markets.
• 80 new Candere outlets across the country.

Letters of intent have been signed for these FOCO showroom launches.

Summary

While Kalyan Jewellers' share price declined following its Q4FY25 update, the company reported strong revenue growth in domestic and Middle Eastern markets, primarily driven by wedding-related demand. However, its digital brand, Candere, experienced a decline in revenue. With a clear expansion strategy for FY26, the company continues to grow its retail footprint.