Shares of Kalyan Jewellers were in focus today as strong management commentary from the company bolstered investor sentiment. Despite rising gold prices and heightened competition in the jewellery sector, Kalyan Jewellers has maintained robust growth momentum in the fourth quarter, driven by a strong wedding season and sustained consumer engagement.
ICICI Securities highlighted key takeaways from its recent management meeting with Kalyan Jewellers. The company remains optimistic about its expansion strategy, planning to add approximately 90 new stores annually over the next two years using a capital-efficient and asset-light model. This aggressive store addition pipeline is expected to strengthen Kalyan’s retail presence and drive further revenue growth.
The company is also set to accelerate the expansion of its subsidiary, Candere, a digital-first jewellery brand. Management sees immense potential in Candere’s small-format stores, which could serve as a major growth lever for the business in the long term. With an increasing focus on network expansion and brand visibility, Candere is expected to play a crucial role in Kalyan Jewellers’ future revenue streams.
Additionally, management addressed concerns over recent hikes in Gold Metal Loan (GML) interest rates, noting that the surge is unsustainable and should normalize in the coming months. Kalyan Jewellers has also set a target to reduce its debt by ₹400 crore in FY26, which could improve its financial health and support long-term profitability.
The strong outlook from management has reinforced confidence among investors, contributing to a positive movement in Kalyan Jewellers’ stock today.
