Kalyan Jewellers India Limited has reported a strong 37% year-on-year growth in consolidated revenue for the quarter ended March 31, 2025 (Q4 FY25), despite high volatility in gold prices. The robust performance was primarily driven by a surge in wedding-related demand and strong same-store sales growth.
The company’s India operations recorded a 39% revenue growth compared to the same period last year, with a same-store-sales growth (SSSG) of approximately 21%. During the quarter, Kalyan launched 25 new showrooms across India, with an additional 3 added in the first week of April 2025.
In the Middle East, the company saw a 24% growth in revenue, also led by strong same-store sales. The region contributed approximately 12% to Kalyan’s consolidated revenue for the quarter.
However, its digital-first jewellery platform, Candere, faced headwinds and posted a 22% revenue de-growth year-on-year. Despite this, Kalyan launched 14 new Candere showrooms during Q4 FY25.
Looking ahead, the company has ambitious expansion plans for FY26, with a target to launch 170 showrooms, including:
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75 Kalyan showrooms in non-south India (all FOCO model), including five flagship stores,
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15 Kalyan showrooms in south India and international markets,
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80 Candere showrooms in India.
Kalyan has already signed Letters of Intent (LOIs) for all FOCO-format showrooms planned in India for the current fiscal.
The company expressed optimism about the ongoing quarter, citing encouraging advance collections ahead of Akshaya Tritiya and the upcoming festive and wedding season.
As of March 31, 2025, the total number of showrooms stood at 388 across regions:
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India: 278 Kalyan showrooms
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Middle East: 36
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USA: 1
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Candere: 73
The company noted that these figures are subject to the statutory audit and final approval by the board.
Disclaimer: The above views are of the company’s and not the author or the publication’s. Please make any and every investment decision after consulting your financial advisor.