Kalyan Jewellers Profit Leaps 90% to ₹416 Cr on Revenue Surge

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AuthorAnanya Iyer|Published at:
Kalyan Jewellers Profit Leaps 90% to ₹416 Cr on Revenue Surge
Overview

Kalyan Jewellers India Ltd. reported a robust 90% year-on-year jump in net profit to ₹416.2 crore for the third quarter. Revenue climbed 42% to ₹10,343 crore, driven by strong operational efficiencies and expanding EBITDA margins to 7.3%. India operations saw an 84% profit increase, while international and Candere brands also posted significant gains.

The robust revenue growth of 42% to ₹10,343 crore, coupled with significant operational efficiencies, fueled Kalyan Jewellers India Ltd.'s near doubling of net profit to ₹416.2 crore in the third quarter. This performance was underpinned by a 74.3% surge in EBITDA to ₹750 crore, which expanded the company's EBITDA margins to 7.3% from 5.9% in the year-ago period.

Domestic Operations Drive Growth

Kalyan Jewellers' India operations were a primary engine, posting a profit after tax (PAT) of ₹401 crore, an 84% increase from the prior year. This domestic success was powered by a 42% revenue increase, largely attributed to a strong 27% same-store-sales growth (SSSG). The company reported healthy new customer additions, constituting over 39% of its total customer base, with franchised showrooms contributing approximately 51% of total revenue. Margin expansion was also supported by a favourable product mix, procurement efficiencies, and operating leverage.

International and Lifestyle Brands Expand

The company's international footprint also expanded, with revenue from overseas operations growing by over 38% to ₹1,164 crore. Profit after tax from these regions rose 64% to ₹12 crore. Simultaneously, the lifestyle jewellery brand, Candere, saw a dramatic revenue increase of 144% to ₹135 crore, swinging from a loss to a profit of ₹3 crore. The Candere FOCO showroom network reached 68 outlets by December 2025.

Financial Prudence and Shareholder Returns

Kalyan Jewellers has prioritized using free cash flow for debt reduction and shareholder rewards. Between April 1, 2023, and September 30, 2025, the company repaid ₹646.1 crore in working capital loans in India. The FY25 dividend payout exceeded 20%. Over the past several years, the company has achieved a trailing twelve-month PAT of ₹1,128.5 crore, representing a 51% compound annual growth rate (CAGR) since FY20.

Expansion Outlook

The company operated 195 FOCO Kalyan showrooms in India as of December 31, 2025, with plans for an additional 89 openings in FY26. The performance was marked by the addition of 21 new showrooms in Q3 FY26. Despite an exceptional one-time impact of ₹41.5 crore from employee benefit provision changes, the robust SSSG across regions and categories, and improved studded jewellery share, signal sustained momentum. Shares of Kalyan Jewellers India Ltd closed up 0.96% on the BSE.

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