Kalyan Jewellers stock price jumps after Q3 update; strong festive, wedding demand boosts revenue by 39% YoY
- Kalyan Jewellers India said it recorded a consolidated revenue growth of approximately 39% in Q3FY25 as compared to the same period in the previous financial year.
Kalyan Jewellers share price jumped over 4% in early trade on Tuesday after the company reported its business updates for the third quarter of FY25. Kalyan Jewellers shares gained as much as 4.84% to ₹781.00 apiece on the BSE.
Kalyan Jewellers India said it recorded a consolidated revenue growth of approximately 39% in Q3FY25 as compared to the same period in the previous financial year.
The company’s India operations witnessed revenue growth of approximately 41% during the October-December quarter, year-on-year (YoY) led by very strong festive and wedding demand across both gold and studded categories. Same-store-sales-growth in Q3FY25 was 24%.
The company launched 24 Kalyan showrooms in India during the December 2024 quarter, with a strong pipeline of showrooms set to open over the course of the current quarter.
The company’s digital-first jewellery platform, Candere, recorded a revenue growth of approximately 89% YoY. It launched 23 Candere showrooms during Q3FY25.
During the current quarter, the company said it plans to launch 30 Kalyan showrooms and 15 Candere showrooms in India, ahead of its announced showroom roll-out plan of 80 Kalyan showrooms and 50 Candere showrooms in India for FY 2025.
International Business
In the Middle East, the company witnessed revenue growth of approximately 22% when compared to the same period in the previous financial year. The Middle East contributed ~11% to its consolidated revenue for the quarter.
Kalyan Jewellers launched its first showroom (Company Owned Company Operated) in the United States of America in Q3.
“For FY 2026, we have drawn up plans to launch 170 showrooms across Kalyan and Candere formats - 75 Kalyan showrooms (all FOCO) in non-south India, 15 Kalyan showrooms (all FOCO) across south India and international markets and 80 Candere showrooms in India. We have already started signing LOIs for the Franchisee Owned Company Operated (FOCO) showrooms planned for the next financial year in India and international markets,” it said.
Should you buy Kalyan Jewellers shares?
Kalyan Jewellers share price has rallied 52% in six months and has given multibagger returns of over 110% in one year.
“Kalyan Jewellers’ consistent growth, coupled with its strategic expansion, underscores its strong market position and ability to capitalize on rising consumer demand. The brand’s multi-channel approach and global aspirations are set to propel it to new heights in the coming years,” said Anshul Jain, Head of Research at Lakshmishree Investment and Securities.
Ruchit Jain, Vice President, Equity Technical Research, Wealth Management, Motilal Oswal Financial Services Ltd. highlighted that the Kalyan Jewellers shares have been in a consolidating range since October after witnessing a sharp upmove in the past few months.
“Kalyan Jewellers stock has seen no major correction despite the broader weakness in the market. However, the stock is seeing selling pressure around ₹790 - 800 range. Once the stock breaks above the ₹800 level, we may see resumption of the uptrend. The short-term trend remains sideways and the resistance level is seen at ₹800, while support for the stock is placed at ₹680 - 690 levels,” said Jain.
According to him, the long-term trend remains positive and the stock may see ₹950 level if it breaks above the resistance level.
At 10:05 AM, Kalyan Jewellers shares were trading 0.91% lower at ₹738.15 apiece on the BSE.
Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.
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