Kalyan Jewellers shares jumped 4.98% to ₹372.40 on Wednesday as investors lapped up the stock after its recent correction. The stock had declined 8.59% over the previous three trading sessions and is down 16.53% in the last three months and 35.18% over the past year. The buying interest came after the company reported robust Q1 FY27 performance across both domestic and international markets. As per Business Standard, the strong buying interest came after the jewellery retailer reported an approximately 38% year-on-year growth in consolidated revenue for the quarter ended 30 June 2026.
Kalyan Jewellers reported 38% year-on-year consolidated revenue growth for Q1 FY27, with consolidated net revenue reaching ₹7,314.74 crore compared to ₹7,314.74 crore in Q1 FY26. The company's India operations delivered 38% revenue growth during the quarter with 28% same-store-sales growth, despite the quarter being impacted by the 28-day Adhik Maas period when wedding-related demand typically slows in several parts of the country. International operations recorded 35% revenue growth with the Middle East contributing 30%, driven mainly by same-store sales growth despite lower footfalls in April due to geopolitical tensions. International markets contributed around 14% to the company's consolidated revenue in the quarter. The digital platform Candere recorded exceptional 112% revenue growth during Q1.
During Q1 FY27, Kalyan Jewellers continued its expansion strategy by launching 12 Kalyan showrooms and 5 Candere showrooms in India. As of 30 June 2026, the company operated 524 showrooms globally, comprising 354 Kalyan stores in India, 38 in the Middle East, 2 in the US, 1 in the UK and 129 Candere stores. The company's 'Shine with India' gold recirculation campaign during the second half of May gained strong customer acceptance, with recycled gold contributing more than 46% of revenue during Q1 FY27, with this proportion crossing more than 55% in June 2026. This initiative has significantly improved the company's cost structure and sustainability profile.
Motilal Oswal has issued 'Buy' recommendations for four stocks with significant upside potential: Marico (18% upside), Kalyan Jewellers (47% upside), PN Gadgil Jewellers (22% upside), and Uno Minda (25-50% upside). According to the latest brokerage report dated July 07, 2026, these stocks continue to offer investment opportunities based on their earnings outlook, business expansion plans, and revenue growth prospects. The recommendations cover India's consumer, jewellery, and auto ancillary sectors, which remain on the brokerage's radar for investment opportunities.
According to Motilal Oswal, all four companies are supported by different growth drivers. Marico is expected to benefit from easing raw material costs and improving margins, while Kalyan Jewellers continues to expand its retail footprint and increase the use of recycled gold. PN Gadgil is experiencing strong retail demand and plans to further grow its store network. Uno Minda is positioned as a structural growth story with a well-diversified product mix and ability to enter new high-potential segments through partnerships or R&D centres globally. The company expressed confidence about demand during the upcoming festive and wedding season, supported by new showroom launches, fresh collections and marketing campaigns.
