Kalyan Jewellers India Ltd
Kalyan Jewellers India Q2 FY26 earnings call: Revenue & Margins
Q2 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
Same-store sales growth (SSG) has shown strong double-digit growth consistently over the last 6-7 quarters, indicating positive volume trends despite gold price fluctuations. Strong growth momentum continues with a 30%+ same-store sales growth (SSG) during the 30-day period ending Diwali, expected to sustain in upcoming quarters.
From Kalyan Jewellers India Ltd's Q2 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- Same-store sales growth (SSG) has shown strong double-digit growth consistently over the last 6-7 quarters, indicating positive volume trends despite gold price fluctuations.
- New buyer share is stable in mid-30s%, with more frequent shopping visits driving consistent ticket sizes regardless of rising gold prices.
- The company plans to open 84 new Kalyan stores in India this year, with 40 already operational; international expansions include 6 stores (3 opened).
- Candere store openings target 80 stores this year, with 30 already opened, expected to meet guidance with improving profitability.
- FOCO model conversions are planned primarily in South India, optimizing store formats for growth; 5-10% stores underperform but balanced by similar proportion overperforming.
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Profitability & Margins
See what Kalyan Jewellers India Ltd said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- Planned to open 5 new showrooms in the next 12 months with an investment of INR 300-350 crores.
- There is ongoing franchisee inquiry for these new stores but initial stores will be company-owned (COCO).
- Franchise expansion scale is currently on hold despite high franchisee interest due to bandwidth constraints and capital availability.
- Continuing two main pilot projects: launching a new regional brand (targeted launch in Q4 FY26) and backward integration to improve gross margins.
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Top-ranked in Consumer Durables
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
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Order Book & Pipeline
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Kalyan Jewellers India Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest (Q4 FY26): revenue ₹10.3K Cr, net profit ₹410 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What Kalyan Jewellers India Ltd's management said in earlier quarters
- Q1 FY27 earnings call analysis →
- Q4 FY26 earnings call analysis →
- Q3 FY26 earnings call analysis →
- Q4 FY25 earnings call analysis →
- Q1 FY26 earnings call →
- Q3 FY25 earnings call →
- Q2 FY25 earnings call →
- Q1 FY25 earnings call →
- Q4 FY24 earnings call →
- Q3 FY24 earnings call →
- Q2 FY24 earnings call →
- Q1 FY24 earnings call →
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Frequently Asked Questions
What were Kalyan Jewellers India Ltd Q2 FY26 results?
Same-store sales growth (SSG) has shown strong double-digit growth consistently over the last 6-7 quarters, indicating positive volume trends despite gold price fluctuations. Strong growth momentum continues with a 30%+ same-store sales growth (SSG) during the 30-day period ending Diwali, expected to sustain in upcoming quarters.
What is Kalyan Jewellers India Ltd share price analysis?
Kalyan Jewellers India Ltd currently shows a neutral. The stock trades at a P/E of 40.2 with a market cap of ₹58,815 Cr. Investors should review the full earnings analysis for detailed insights.
Is Kalyan Jewellers India Ltd planning capital expenditure?
Planned to open 5 new showrooms in the next 12 months with an investment of INR 300-350 crores.
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.