Kalyan Jewellers India Ltd. Q2 FY26 Financial Results Briefing

Kalyan Jewellers India Ltd. has announced exceptional financial results for the second quarter ending September 30, 2025, demonstrating significant top-line and bottom-line growth. The company's performance reflects robust operational efficiency and strong consumer demand, particularly in its core domestic market. Net profit for Q2 FY26 saw a near-doubling, rising 99.5% year-on-year (YoY) to ₹260 crore, compared to ₹130 crore in the corresponding period last year. This strong profitability was driven by substantial revenue growth and margin expansion. Key Financial Highlights (Q2 FY26 vs. Q2 FY25) Consolidated Revenue: Grew 37.4% YoY to ₹7,856 crore from ₹6,057 crore. Net Profit: Increased 99.5% YoY to ₹260 crore from ₹130 crore. EBITDA: Rose 55.8% YoY to ₹497.1 crore from ₹319 crore. EBITDA Margin: Showcased significant operational leverage, expanding 100 basis points to 6.3% from 5.3%. Segment Performance India Operations: Remained the primary growth engine, posting standalone revenue of ₹6,843 crore (a 31% YoY growth) and contributing a Profit After Tax (PAT) of ₹262 crore. Middle East Operations: Delivered steady growth, with revenue increasing 8% YoY to ₹866 crore and a PAT of ₹15 crore. Candere (Lifestyle Platform): The e-commerce division reported revenue of ₹93 crore, incurring a net loss of ₹9 crore for the quarter. Management Outlook & Operational Momentum Management attributes the robust quarterly performance to exceptional sales during the nine-day Navratri festival, which concluded the quarter. Crucially, this positive momentum has carried into Q3 FY26. The company reports that for the 30-day festive period ending with Diwali, same-store-sales-growth (SSSG) exceeded 30% on a like-for-like basis. The leadership remains highly optimistic about the forthcoming quarters, specifically citing the ongoing pan-India wedding season, for which the company is fully prepared with new collections and strategic campaigns.