Kalyan Jewellers

Kalyan Jewellers delivered a stellar Q4 FY26 with consolidated revenue of ₹10,275 croreCurrent reported value: ₹10,275 crore. No comparable prior figure is available in the source record. (+66Current 66 crore vs previous available quarter 42 crore.% YoY) and PAT of ₹410 croreCurrent reported value: ₹410 crore. No comparable prior figure is available in the source record. (+118Current reported value: 118. No comparable prior figure is available in the source record.% YoY), driven by strong same-store sales growth, aggressive network expansion (129Current 129. Reported change: +129 stores YoY. showrooms added in FY26), and a sharp turnaround in the Candier business which turned PAT-positive in H2. India standalone revenue grew 68% YoYCurrent reported value: 68% YoY. No comparable prior figure is available in the source record. to ₹8,990 crore, while the Middle East business posted a 122% revenue jump. Management guided for 150 new showrooms in FY27 across Kalyan, Candier, and a new regional brand, and reiterated its target to eliminate non-GML debt in India entirely this year. April has started off very well, though high bases in H2 FY26 and the inauspicious Adhik Maas period in Q1 could create near-term volatility. Key risk: sustained gold price inflation may pressure volume growth as customers stick to fixed budgets.