Kalyan Jewellers Glitters with 30% Revenue Growth in Q2, Driven by Wedding and Festive Demand
Kalyan Jewellers India Ltd. is back in the spotlight as the company reported an impressive performance in its second quarter (Q2FY26), fueled by strong wedding demand and a vibrant start to the festive season. The jewellery major announced that its consolidated revenue grew by nearly 30% year-on-year, showcasing the brand’s resilience and continued dominance in the highly competitive jewellery retail market.
The company’s upbeat performance has attracted investor attention as it signals robust consumer sentiment and rising discretionary spending in the luxury goods segment, especially during India’s peak festive and wedding seasons.
Strong Growth Across India and Overseas Markets
Kalyan Jewellers’ India operations remained the primary growth engine during the September quarter. The company reported a 31% year-on-year revenue growth compared to the same period last year. This growth was driven by strong wedding-related purchases, an early start to festive shopping, and an encouraging consumer response to its new collections.
Interestingly, Navratri sales also contributed positively this year, which were absent in the base quarter last year. While last year’s figures were slightly boosted by a customs duty cut, Kalyan’s latest performance reflects genuine market-driven growth rather than external factors.
The company’s same-store sales growth (SSSG) stood at an impressive 16%, reinforcing the effectiveness of its customer engagement and product strategy. The positive trend in SSSG highlights that Kalyan is not just expanding through new stores but also increasing revenue productivity from existing ones.
On the international front, the company recorded 17% revenue growth year-on-year. In the Middle East, where Kalyan has a strong footprint, revenue growth stood at nearly 10%, entirely driven by same-store sales growth. International markets contributed close to 12% of Kalyan’s total consolidated revenue, underlining the brand’s growing global presence.
Candere Continues to Outshine with 127% Growth
Kalyan’s digital-first jewellery brand, Candere, delivered a stellar performance this quarter. The platform’s revenue surged 127% year-on-year, backed by rising showroom footfalls, increased website traffic, and strong customer engagement.
Candere’s growth shows how Kalyan Jewellers is successfully blending traditional craftsmanship with modern digital strategies. By combining physical showrooms with a strong online presence, the company is catering to both conventional jewellery buyers and the new generation of tech-savvy consumers.
Aggressive Expansion to Strengthen Market Leadership
Kalyan Jewellers continued its expansion spree in Q2FY26, reflecting its confidence in the Indian consumer market. During the quarter, the company opened 15 new Kalyan showrooms across India, two in the Middle East, and 15 new Candere showrooms in India.
As of September 30, 2025, Kalyan Jewellers operates 436 showrooms worldwide — including 300 in India, 38 in the Middle East, 2 in the US, and 96 Candere outlets. This wide network strengthens its position as one of the largest jewellery retailers in the country.
The company also achieved a key milestone in its debt reduction strategy. It received approval from its lead bank to release real estate collateral linked to repaid debt, a move that will help the company move closer to its financial targets for FY26. This not only enhances Kalyan’s balance sheet strength but also provides more flexibility for future expansion and investments.
Festive Quarter Outlook: Optimism and Fresh Collections
Kalyan’s management has expressed confidence about the ongoing festive quarter, which began on a positive note with strong footfalls across major markets. The brand has introduced new festive collections and marketing campaigns to attract customers during Navratri and Diwali, two of the most important jewellery-buying periods in India.
The company plans to open 15 additional showrooms before Diwali, further enhancing its retail footprint and customer accessibility. With rising gold prices and festive sentiment at a peak, Kalyan is well-positioned to benefit from higher average ticket sizes and strong store-level sales momentum.
A Reflection of India’s Growing Jewellery Demand
The performance of Kalyan Jewellers highlights the broader trend of recovery and expansion in India’s jewellery sector. Post-pandemic, consumers have been spending more on weddings, celebrations, and investment-grade jewellery. With increasing disposable income and cultural preferences for gold, demand remains strong across both metro and non-metro regions.
Kalyan’s success story is also a testament to the brand’s adaptability. By balancing physical expansion with digital engagement and maintaining transparent pricing policies, the company continues to win the trust of millions of customers in India and abroad.
Conclusion
Kalyan Jewellers’ Q2FY26 performance stands as a strong indicator of resilience and growth in India’s jewellery industry. With a 30% jump in consolidated revenue, expanding store count, and record growth from its digital platform Candere, the company has set the stage for a strong second half of the fiscal year.
As the festive season unfolds, Kalyan Jewellers looks poised to maintain its momentum, backed by robust demand, innovative marketing, and strategic expansion. For investors and jewellery enthusiasts alike, the company’s performance reflects a golden blend of tradition, trust, and transformation.
Disclaimer:
This article is intended for informational purposes only and should not be considered investment advice. Readers are encouraged to consult certified financial advisors before making any investment decisions. Stock market investments are subject to risks, and past performance is not indicative of future results.
