Kalyan Jewellers share price hits 10% upper circuit, up for second straight session after strong Q1 business update

Kalyan Jewellers share price hit its 10% upper circuit of ₹411.75 per share on Thursday, July 9, extending gains for the second straight session after the stock posted a strong business update for the quarter ended June 2026 (Q1FY27). It had added 5.5% in the previous session. Just in 2 sessions, the scrip advanced 16%.

Kalyan Jewellers reported a strong business update for the April-June quarter of FY27, with consolidated revenue growing by approximately 38% year-on-year (YoY), driven by healthy demand across both its domestic and international operations.

In a stock exchange filing dated July 7, the company said its India business delivered revenue growth of more than 38% YoY during the June quarter, supported by robust operating momentum and healthy same-store sales growth across key markets, despite the entire 28-day Adhik Maas period falling within the quarter.

"We saw revenue growth in excess of 38% for our India operations during Q1FY27 as compared to Q1FY26, led by robust operating momentum on the ground with healthy same-store-sales-growth across all the key markets in the country, despite the 28-day Adhik Maas period falling fully in the recently concluded quarter. During the quarter, same-store-sales-growth stood at approximately 28%," the company said.

Adhik Maas is a once-in-three-year phenomenon during which wedding-related demand typically slows in certain parts of the country.

The company said its international operations also posted strong performance, recording revenue growth of approximately 35% YoY during the quarter. In the Middle East, revenue grew around 30% YoY, largely driven by same-store sales growth despite weaker footfall in April due to geopolitical tensions in the region.

"International markets contributed approximately 14% to our consolidated revenue for the recently concluded quarter. Our digital-first jewellery platform, Candere, recorded a revenue growth of approximately 112% YoY during the quarter. During the recently concluded quarter, we launched 12 Kalyan showrooms and 5 Candere showrooms in India," the company said.

Kalyan Jewellers added that the current quarter has begun on a positive note and that it remains optimistic about its upcoming showroom launches, while preparing fresh collections and marketing campaigns for the festive and wedding season across the country.

As of June 30, 2026, Kalyan Jewellers had a total of 524 showrooms across India and international markets, comprising 354 Kalyan India showrooms, 38 Kalyan Middle East showrooms, two Kalyan USA showrooms, one Kalyan UK showroom and 129 Candere showrooms.

Kalyan Jewellers shares hit their 52-week low of ₹327.15 on 11 June this year after hitting a 52-week high of ₹617.30 on 24 July last year.

It has risen 15% in last 1 month but lost 8% in 3 months and 19% in 6 months.

The jewellery stock is down 29% over the last year. However, on a longer timeframe of five years, the stock has delivered multibagger returns of 429%.

Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.

Pranati Deva is a seasoned financial journalist with over a decade of experience in high-pressure newsroom environments, currently working as a Senior Sub Editor at LiveMint. Over the years, she has developed a reputation for sharp editorial judgement, a strong grasp of market dynamics, and the ability to translate complex financial developments into clear, engaging stories for a wide audience. <br><br> Her core areas of coverage include stock markets, leading listed companies, currencies, and commodities, with a particular strength in fast-paced, real-time market reporting. She is known for handling breaking market news, earnings-driven stock movements, and macroeconomic developments with speed, accuracy, and context—qualities that are essential in financial journalism. <br><br> Pranati has built a diverse and credible professional track record across so...