KALYAN JEWELLARS Results Analysis-Q4FY26

Operating Revenue for Q4FY26 is Rs. 10,275 Crs., 66.22% growth YoY, Total Income is Rs. 10,321 Crs., 65.87% growth YoY, Gross Profit is Rs. 1,322 Crs., 55.5% growth YoY, EBITDA is Rs. 782 Crs., 77.6% growth YoY, EBITDA Margin is 7.58% improved by 50 Basis points YoY, PBT Rs. 539 Crs. 115% growth YoY, PAT Rs. 410 Crs. 118.27% growth YoY. Segment breakup (Q4 FY26) • India: Revenue INR 8,990 Cr (vs INR 5,350 Cr); PBT Cr. (vs INR 249 Cr); PAT INR 366 Cr (+97% YoY; vs INR 185 Cr). • Middle East: Revenue INR 1,074 Cr (vs INR 784 Cr); PBT INR 20 Cr (vs INR 15 Cr); PAT INR 21 Cr (vs INR 12 Cr). On QoQ basis Op. Revenue is flat to negative, Total Income is flat to negative, Gross Profit is down by 2.64%, EBITDA is down by 4%, PBT is down by 3.77% and PAT is also down by 1.63%. FY26 store launches: 129 showrooms across Kalyan + Candere, including the first Kalyan showroom in the U.K. FY27 plan: open 150 showrooms across Kalyan, Candere and the new regional brand. Candere openings in FY27 expected similar to last year: “50–55”.