Kalyan Jewellers shares down 9% despite reporting revenue growth of 38%; check all Q1 updates

Kalyan Jewellers shares declined as much as 8.6% to touch an intraday low of ₹348.35 apiece on Tuesday, July 7, despite the company reported a strong quarter (Q1 FY27).

The jewellery firm said it has witnessed a revenue growth of 38% for India operations during Q1 FY27 as compared to the same quarter in the previous fiscal year. The increase was led by robust operating momentum on the ground with healthy same-store-sales growth (SSSG) across all the key markets in the country despite the 28-day Adhik Maas period falling fully in the recently concluded quarter.

The recently concluded quarter recorded same-store-sales growth of approximately 28%.

The company’s international operations recorded revenue growth of approximately 35% for the reporting quarter when compared to the same period during the previous financial year. Within the Middle East specifically, Kalyan Jewellers witnessed a rise in revenue of approximately 30% year-on-year (YoY) driven predominantly by SSSG despite the impact on footfall during the month of April due to the geopolitical tensions in the region.

The international markets contributed nearly 14% to the jewellery firm’s consolidated revenue for the recently concluded quarter.

Kalyan Jewellers’ digital-first jewellery platform, Candere, recorded a 112% revenue growth during the quarter on a YoY basis.

The company has launched 12 Kalyan showrooms and five Candere showrooms in India in Q1 FY27. As of June 30, 2026, its total number of showrooms across India and international markets stood at 524.

“We launched our ‘Shine with India’ gold recirculation campaign during the second half of May with the larger objective of increasing the share of recycled gold and thereby reducing dependence on imported gold,” Kalyan Jewellers said in a regulatory filing.

The company further said the initiative helped to increase its share of recycled gold to over 46% of revenue in Q1 FY27, while the contribution for June alone exceeded 55%.

On the outlook for the next quarter, Kalyan Jewellers said the ongoing quarter has begun on a strong note and expressed optimism about upcoming showroom launches while gearing up with new collections and marketing campaigns for the festive and wedding season across the country.

Kalyan Jewellers share price

At 11:32 AM, Kalyan Jewellers shares were trading at ₹356 apiece on the National Stock Exchange, declining 6.62%.

From the beginning of the year, Kalyan Jewellers India shares have slipped over 26%. Over a month’s time, the stock has gained 0.59%, while it has fallen 31.5% in the last six months.

Shares of the company had touched their one-year high of ₹617.70 apiece on July 24, 2025, while their 52-week low of ₹327.05 was hit on June 11, 2026.

Kalyan Jewellers India has a total market capitalisation of ₹37,101.19 crore as of July 7, 2026, according to data on the NSE.