Kalyan Jewellers delivered impressive financial results for Q2 FY27, reporting consolidated revenue growth of over 26% compared to the same period last year. According to reports from The Economic Times, the company's India operations recorded nearly 27% year-on-year revenue growth during the quarter, demonstrating robust operating momentum with healthy same-store-sales-growth across all key markets. The strong performance came despite a high base following strong Navratri sales last year, as all nine days of Navratri were part of Q2 FY26. Notably, Kalyan Jewellers' revenue growth for India operations exceeded peer Titan's 22% growth during the same quarter, highlighting the company's competitive position in the jewellery sector. The company achieved approximately 20% same-store sales growth during Q2 FY27, as reported by The Economic Times.
The jeweller has outlined plans to launch four new showrooms under the franchised model during the current financial year, with two showrooms expected to open during the ongoing third quarter and two during the fourth quarter. During the quarter ended September 30, 2026, Kalyan Jewellers launched 12 Kalyan showrooms in India (net 11), 9 Candere showrooms in India and 1 Kalyan showroom in the UK. The company also launched its first regional brand, Akshaya Thanga Maligai (ATM) in Chennai in August, which has received strong market reception with revenue traction over the first 40-plus days of operation. As of September 30, 2026, the company had 546 showrooms across India and international markets, comprising 365 Kalyan showrooms in India, 38 in the Middle East, two in the US, two in the UK and 138 Candere showrooms. The West Asia region also witnessed revenue growth of around 12% in the second quarter, contributing to the company's diversified international performance.
The company's international operations showed strong momentum with international revenue rising 18% during Q2 FY27, according to The Economic Times. Within the Middle East specifically, the company witnessed revenue growth of approximately 12% for Q2 FY2027 as compared to Q2 FY2026, driven entirely by same-store-sales-growth. International markets contributed approximately 11% to the company's consolidated revenue for the recently concluded quarter. Its lifestyle jewellery brand, Candere, recorded exceptional growth of nearly 64% compared to the same period last year, as reported by The Economic Times.
During Q2, Kalyan Jewellers completed the sale of one of the two identified parcels of non-core real estate assets, held for sale, with value of approximately ₹86 crore, as reported by The Economic Times. The company expects to complete the sale of the second one valued at approximately ₹16 crore during the ongoing third quarter. Notably, the quarter saw non-GML debt coming down to zero, indicating significant financial deleveraging. The company expressed optimism about the upcoming festive and wedding season, stating it is fully ready with fresh collections, campaigns and new showroom launches. The company expects to complete the sale of the second parcel valued at approximately ₹16 crore during the ongoing quarter.
Kalyan Jewellers shares rallied over 3% in Wednesday's trading session following the Q2 business update, hitting the day's high of ₹567.30 on the BSE against the previous close of ₹548. As of 9:50 AM, the stock was up 3.25% at ₹565.80 apiece. The stock has demonstrated strong performance with 17% year-to-date gains and 37% gains in six months, with particularly sharp 60% gains in three months, according to BSE data. However, the stock remains 40% below its all-time high of ₹794.60 touched in January 2025. The company maintains a market capitalisation of more than ₹56,610 crore, reflecting strong investor confidence in the jewellery major's operational performance.
