KALYANKJIL

kalyan jewelers High and Lows

📊 Key Financials & Performance In Q1 FY26, Kalyan posted around ₹7,268 crore in revenue, up ~31% year-on-year. PAT (profit after tax) jumped ~49% YoY in that same quarter (Q1 FY26) to ~₹246 crore. For the full FY25, revenue rose ~35% (to about ₹25,045 crore) and PAT grew ~20% to ~₹714 crore. 🛒 Business Strategy & Expansion The company is following an aggressive store expansion plan. It aims to add ~160 new showrooms this fiscal year (evenly split between its premium “Kalyan” brand and the more affordable “Candere”) to continue growth momentum. They are trying to leverage growth in smaller towns / more tier-2 / tier-3 cities, and pushing lightweight, lower-carat jewellery which is more affordable in the face of high gold prices. ⚠️ What’s Dragging / Risks High gold prices are hurting demand somewhat — expensive gold means many consumers are delaying or scaling down purchases, especially discretionary jewellery. Margin pressures are a concern due to franchise model costs, store expansion, and fluctuating gold costs. Rapid growth of stores could squeeze profitability if not managed tightly. The stock has been volatile: even after good earnings, there have been sharp falls, likely due to profit booking by investors.