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Centrum Broking Report
Kalyan Jewellers India Ltd., in its exchange fillings today said that in Q1 FY23 it witnessed robust momentum in both footfalls and revenue across India as well as in Middle East.
Consolidated revenue is expected to grow over 105% in Q1 FY23, whereas India business to report up 115% growth on YoY.
Management alluded that it is witnessing strong operating momentum driven by resilience of category business along with shift in demand from unorganised to organised.
On margin front, it is expected to improve on YoY largely driven by increase in the studded mix and share of business from non-south markets.
In the Middle East operation, it is expected to grow by over 65% YoY. Online format Candere recorded of over 80% revenue growth during the quarter.
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