Kalyan Jewellers posts 38% YoY revenue growth with a 112% jump at Candere subsidiary

Kalyan Jewellers India Limited has delivered a robust operational update for Q1 FY2027, showcasing a significant 38% year-over-year revenue expansion. This performance was underpinned by healthy same-store sales growth in the domestic market and an explosive triple-digit increase in its digital-first brand, Candere.

Kalyan’s Q1 performance signals aggressive market-share acquisition from the unorganised sector. By adding 17 stores in a single quarter, the management is front-loading its FY2027 expansion target. The 112% growth at Candere is particularly notable as it suggests the brand has reached an inflexion point in consumer awareness and retail footprint.

The jewellery sector is likely to see a valuation re-rating for organised players with strong physical expansion capabilities. Kalyan’s ability to maintain high double-digit growth suggests that consumer demand for branded jewellery remains resilient against inflationary pressures. Capital allocation is clearly focused on footprint expansion and digital-native brand scaling.

In June 2026, Kalyan Jewellers announced the acquisition of the remaining 15% stake in its subsidiary, Candere (Enigmatic Smile Marketing Pvt Ltd), for ₹42 crore, making it a wholly-owned subsidiary. Additionally, the company has reiterated its guidance to open over 80 new showrooms across India and the Middle East during the current fiscal year.