- Shares of Kalyan Jewellers India fell over 8% on July 7 after Q1 provisional results
- The stock dropped 8.63% intraday to Rs 348.35, trading 6.69% lower by 10:25 am
- Consolidated revenue grew 38% year-on-year despite a 28-day Adhik Maas period
Shares of Kalyan Jewellers India dropped over 8% during the trading hours on Tuesday, July 7 as the company declared provisional numbers for the April to June quarter.
Kalyan Jewellers share price fell as 8.63% intraday to Rs 348.35 apiece. The scrip was trading 6.69% lower by 10:25 am, while the benchmark Nifty 50 was up 0.28%.
In an exchange filing on Tuesday, the jewellery-maker informed the exchanges its consolidated grew around 38% on an year-on-year basis. The revenue growth in India operations is led by operating momentum on the ground 28% same-store-sales-growth across all the key markets. This comes growth comes despite the 28-day Adhik Maas period falling in the quarter under review. Adhik Maas falls once in a three-years, when wedding related demand tends to take a pause in certain parts of the country.
Kalyan Jewellers international operations posted around 35% surge in revenue when compared to the same period during the previous financial year.
In the Middle East, the company witnessed revenue growth of approximately 30% for Q1 FY2027 as compared to Q1 FY2026 driven predominantly by same-store-sales-growth despite geopolitical tensions in the region.
The company's digital-first jewellery platform, Candere, recorded a revenue growth of nearly 112% in Q1FY27 as compared to the same period during the last year. It launched 12 Kalyan showrooms and 5 Candere showrooms in India in the quarter.
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