Kalyan Jewellers India announced robust growth in its Q3FY25 business update, reporting an increase in consolidated revenue by 39% compared to the same quarter last year. The stock surged over 4% in early trade on Tuesday, touching ₹781 on the BSE, reflecting positive investor sentiment. Over the past six months, the stock has gained 52%, delivering multi-bagger returns of over 110% in the last year.
Strong Growth in India Operations
Revenue from Indian operations grew by 41% year over year during the October-December 2024 period, propelled by strong demand for gold and studded jewellery during the festive and wedding seasons. Same-store sales growth stood at 24% for the quarter. The company launched 24 new Kalyan Jewellers showrooms across India during Q3 and plans to open additional outlets in the current quarter.
Kalyan Jewellers' digital-first platform, Candere, also delivered impressive results, recording an 89% year-over-year revenue growth. During the quarter, the company added 23 new Candere showrooms. For FY25, Kalyan aims to open 80 showrooms and 50 Candere outlets in India.
International Expansion
Kalyan Jewellers' Middle East operations recorded 22% YoY revenue growth, contributing approximately 11% to the company's consolidated revenue. During Q3, the company also marked a significant milestone by opening its first company-owned showroom in the United States.
Looking ahead to FY26, the company has ambitious plans to launch 170 new showrooms globally, including 75 Kalyan Jewellers outlets in non-south India, 15 in southern India and international markets, and 80 Candere showrooms. Preparations are underway, with Letters of Intent already being signed for Franchisee-Owned Company-Operated (FOCO) outlets.
At 10:05 AM on Tuesday, Kalyan Jewellers shares were trading at ₹738.15, down 0.91% from their previous close.
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