Kalyan Jewellers Q4 Results: Stock gains after 66% revenue growth lifts earnings

Kalyan Jewellers reported a strong set of fourth-quarter earnings on May 8, aided by robust wedding demand, healthy same-store sales growth and continued momentum across its India and digital jewellery businesses.

Revenue for the quarter ended March rose 66% year-on-year to ₹10,275 crore from ₹6,182 crore a year earlier.

EBITDA surged 84.2% to ₹735.7 crore compared with ₹399.4 crore in the corresponding quarter last year, while EBITDA margin expanded to 7.2% from 6.5%.

Following the earnings announcement, shares of Kalyan Jewellers climbed over 3% to hit an intraday high of ₹428.80 on the NSE.

The company’s India operations recorded 65% revenue growth during the quarter, driven largely by strong same-store sales growth across key markets. Same-store sales growth stood at 45% at the end of the quarter, despite elevated and volatile gold prices.

Kalyan said both wedding and discretionary jewellery demand remained resilient during the quarter. The jeweller, however, noted that geopolitical tensions in West Asia impacted customer walk-ins during the first three weeks of March, although strong Ramadan demand towards the end of the month helped offset the weakness.

Its international business posted 33% topline growth for FY26 and contributed around 11% to consolidated quarterly revenue.

Candere, the company’s digital-first jewellery platform, continued to witness rapid expansion, reporting revenue growth of more than 360% during the quarter and 160% growth for the full financial year.

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Kalyan Jewellers also expanded its retail footprint aggressively during the quarter, adding 24 showrooms across India along with 14 Candere stores.

The board recommended a final dividend of ₹2.50 per equity share for FY26, subject to shareholder approval at the upcoming annual general meeting.

Kalyan Jewellers is one of India’s leading jewellery retailers, known for its gold, diamond and wedding jewellery offerings through brands such as Kalyan Jewellers and Candere, with a growing presence across India and international markets.