National News
CIBJO and AGTA Demand Full Disclosure on Irradiated Rubies and Sapphires
Trade Bodies Urge Transparency as Growing Concerns Over Color Stability and Treatment of Gemstones Persist
Rubies and sapphires are increasingly being treated with irradiation, a process that temporarily enhances their color, sparking concerns among professional trade organizations about the long-term stability of these gemstones. In a joint statement, the World Jewellery Confederation (CIBJO), the American Gem Trade Association (AGTA), and the International Colored Gemstone Association (ICA) have reiterated their call for full transparency and disclosure regarding gemstone treatments, particularly for stones sourced from Sri Lanka.
Since 1981, AGTA has advocated for a coding system to identify treated gemstones, and in 2010, CIBJO, AGTA, and ICA reached a global consensus on the disclosure of colored gemstone treatments. Despite these efforts, concerns remain, especially after the release of the 2022 statement, “Irradiation of Rubies: a Cautionary Note.” The issue of irradiated rubies and sapphires, particularly from Sri Lanka, continues to be a source of industry unease due to the temporary nature of their enhanced appearance.
AGTA has raised alarms in the U.S., where many dealers have stopped purchasing yellow, peach, and padparadscha sapphires, along with rubies from Sri Lanka, due to fears about their color stability over time. In response, the Sri Lankan Gem and Jewellery Association (SLGJA) has pledged to strengthen test reporting and encourage better disclosure practices.
CIBJO, AGTA, and ICA are urging authorities in Sri Lanka and other gemstone-producing regions to address these concerns urgently. “If the current situation persists, it will inevitably harm the industry and undermine consumer confidence in colored gemstones,” they warned.
National News
Quarterly Update: Q1 FY2027- Kalyan Jewellers
Q1 FY2027 highlights robust revenue growth, expanding global footprint, and continued investment in festive season readiness.
The recently concluded quarter has been a very satisfying one, recording consolidated revenue growth of approximately 38% when compared to the same period in the previous financial year.
We saw revenue growth in excess of 38% for our India operations during Q1 FY2027 as compared to Q1 FY2026, 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. Adhik Maas is a once in a 3-year phenomenon during which wedding-related demand tends to take a pause in certain parts of the country. The recently concluded quarter recorded same-store-sales-growth of approximately 28%.
We launched our ‘Shine with India’ Gold Recirculation Campaign during the second half of May with the larger objective of increasing the share of recycled gold and thereby reducing dependence on imported gold. The initiative has been well received by customers, helping us increase the share of recycled gold as a percentage of revenue to over 46% during Q1 FY2027. For the month of June, the share of recycled gold as a percentage of revenue was in excess of 55%.
Our international operations recorded revenue growth of approximately 35% for the recently concluded quarter when compared to the same period during the previous financial year. Within the Middle East specifically, we witnessed revenue growth of approximately 30% for Q1 FY2027 as compared to Q1 FY2026, driven predominantly by same-store-sales-growth despite the impact on footfall during April due to the 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% during the recently concluded quarter as compared to the same period during the last year.
During the recently concluded quarter, we launched 12 Kalyan showrooms and 5 Candere showrooms in India.
The ongoing quarter has started off well and we are upbeat about the new showroom launches, gearing up with fresh collections and campaigns for the upcoming festive and wedding season across the country.
As of June 30, 2026, our total number of showrooms across India and international markets stood at 524:
- Kalyan India – 354
- Kalyan Middle East – 38
- Kalyan USA – 2
- Kalyan UK – 1
- Candere – 129
The metrics and other details provided above are subject to the Limited Review process by our Statutory Auditors. Post approval of the results for the quarter ended June 30, 2026 by the Board of Directors, a detailed information update will follow. Revenue figures provided above refer to revenue from sale of goods (excluding bullion).
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