Retail Segment

The retail segment, representing 70.3% of total revenue, achieved a steady 19.4% growth in Q1 FY26 as compared to Q1 FY25. The results reflect a cautious consumer environment and stable store-level operations.

Non-Retail Segments

• E-commerce: With an increase of 126% compared to the same quarter in the previous financial year, this segment contributed 3.9% to total revenue, reflecting our successful digital expansion and increasing online customer engagement.

• Franchisee Operations: This segment surged by 109% compared to the same quarter in the previous financial year, accounting for 15.7% of total revenue, driven by strong franchisee performance and broader market penetration.

• Other: The Other segment excluding refinery contributed 10.1% of total revenue in Q1 FY26. It consists of B2B and corporate sales. As informed earlier, the refinery sales which contributed ₹ 3,535 million In Q1 FY25 was discontinued effective October 1, 2024.

Performance of Continuing Operations

During the quarter under review, revenue excluding the refinery segment delivered a YoY growth of 30.4%.

Festive Sales

Festive sales remain a key driver of our success. This year, we achieved our highest ever single-day festive sales on Akshaya Tritiya amounting to ₹ 1,395.3 million, with a remarkable 35.1% increase over last year. 

Stud Ratio and same store sales growth

The share of studded jewellery increased by 41.6% YoY in Q1 FY26, taking the stud ratio to 10% of the retail sales. This uptick highlights the growing popularity of stud-based Jewellery, aligning with evolving consumer preferences. The Same Store Sales Growth for the quarter ended Q1 FY26 stood at 8%, primarily impacted by the absence of the Gudi Padwa festival during the quarter. The festival, which was part of Q1 in FY25 last year, was preponed in Q4 FY25 this year, thereby affecting Like-for-like comparability.

Q1 FY26 Operational Highlights

In the recently concluded quarter, we expanded our footprint with the launch of our dedicated sub-brand Litestyle, aimed at meeting the growing demand for stylish and lightweight jewellery. Additionally, we launched two new showrooms during the quarter – one COCO and one FOCO, taking our total store count to 55.

Outlook for FY26

On the expansion front, we remain focused on accelerating our store rollout plan, with 7 to 9 new launches – a mix of company-owned (COCO) and franchise outlets (FOCO) – scheduled for Q2 FY26, this forms a significant part of our broader target of opening 20-25 new stores during the fiscal year.

Key growth markets such as Maharashtra, where we continue to maintain a leadership position, and other regions such as Uttar Pradesh and Madhya Pradesh which presents strong growth potential, will remain central to our expansion strategy. Our focus on these regions aligns with our goal to deepen market presence and drive incremental demand through enhanced accessibility.

KISNA Diamond and Gold Jewellery, one of India’s foremost jewellery brands, proudly announces the grand opening of its 82nd exclusive showroom at Sky City Mall, F-02, First Floor, Devipada, Western Express Highway, Borivali. This milestone reinforces KISNA’s commitment to making luxury diamond and gold jewellery more accessible across India, furthering its vision of ‘Har Ghar KISNA.’

The prestigious launch event was graced by Sanjay Upadhyay, MLA, Borivali Vidhansabha with Ghanshyam Dholakia, Founder & Managing Director of Hari Krishna Group, Parag Shah, CEO Kisna and franchise owners Ratan Dulani and Sunil Dharmani, along with other esteemed dignitaries. To celebrate this landmark occasion, KISNA is offering flat 50% off on making charges of diamond jewellery and 20% off on making charges of gold jewellery, presenting an irresistible opportunity for residents in and around Borivali to indulge in some exquisite jewellery craftsmanship.

As KISNA’s third exclusive showroom in Mumbai, this launch represents a significant milestone in the brand’s strategic growth. Renowned for its deep-rooted appreciation of fine jewellery and artisanal excellence, Mumbai offers immense potential for expansion. The new showroom underscores KISNA’s mission to bring exceptional diamond and gold jewellery closer to customers in the region.

On the launch of the 82nd exclusive showroom, Ghanshyam Dholakia, Founder & Managing Director, Hari Krishna Group, said, “With the inauguration of our 82nd exclusive showroom, we are not just marking a number, we are deepening Kisna’s connection with the dreams and aspirations of millions of Indian households. Every showroom is a step forward in our mission to democratize diamonds, where world-class craftsmanship meets everyday elegance. This milestone reflects the trust our customers place in us and our commitment to making fine jewellery more accessible, meaningful, and woven into the fabric of modern Indian life.

Parag Shah, CEO, Kisna Diamond and Gold Jewellery, said, “The opening of our 82nd exclusive showroom, which is also our largest to date, marks the accelerating momentum behind Kisna’s vision of becoming India’s most loved and trusted diamond and gold jewellery brand. We are building a strong, future-ready retail network that blends accessibility with aspiration. As we grow, our focus remains on empowering local markets, enhancing consumer experience, and delivering value through timeless design and transparent pricing.”

The new KISNA showroom in Borivali has been thoughtfully designed to offer a spacious and opulent shopping experience, being one of the largest exclusive showrooms, spread across 900 sq. ft., offering a grand showcase of its exquisite jewellery collections. Customers can explore a wide range of 100% IGI Certified diamond jewellery and BIS Hallmarked gold pieces, including daily wear and bridal collections. While reflecting Borivali’s local aesthetic, the showroom retains KISNA’s signature elegance, offering a curated selection of jewellery for every occasion.

KISNA continues its ambitious expansion journey, with plans for several new showrooms across metropolitan, Tier 1, Tier 2, and Tier 3 cities, reinforcing its mission of becoming India’s most accessible and trusted jewellery retailer. The Borivali showroom is a testament to KISNA’s dedication to quality, sophistication, and community engagement. As part of the launch celebrations, KISNA will also organize a blood donation drive and provide meals for 100 underprivileged individuals, embodying its commitment to social responsibility.

In a step towards enriching customer experiences with meaningful knowledge and trust, Tanishq, India’s most trusted jewellery brand from Titan Company Limited (a Tata Group company), has collaborated with Gemological Science International (GSI) to bring specialized gemological sales training to its retail and corporate teams across India.

At Tanishq, jewellery has always been more than just a product; it is a personal milestone for every customer. With this belief, the brand has consistently focused on creating an environment where customers feel informed, confident, and understood while making their jewellery purchases.

This collaboration with GSI is a reflection of that commitment, aiming to equip Tanishq teams with a deeper understanding of diamonds, colored stones, and jewellery craftsmanship while weaving in Tanishq’s unique design philosophy and product collections to enhance every conversation with customers. By blending practical gemological knowledge with Tanishq’s brand ethos, the program will support team members in helping customers appreciate the craftsmanship and quality behind every jewellery piece.

At Titan Jewellery Division trust and transparency are at the heart of every customer interaction. Our collaboration with Gemological Science International (GSJ) has played a key role in strengthening this promise. Their diamond and gemstone certification programs have equipped our frontline teams at Tanishq and Mia with deep product knowledge and confidence. GSJ has also helped us shape compelling in-store narratives and customer education tools enabling us to deliver a jewellery experience that’s rooted in authenticity, expertise and care. We value this ongoing partnership and the shared commitment to building informed teams and confident customers. Hemang Nensee- Tanishq, Lead-Retail Capability Jewellery said.

Ramit Kapur, Managing Director, GSI, added, “We are proud to support Tanishq in its mission to bring a higher level of transparency and education to jewellery retail. Our programs are designed to empower sales professionals with gemological tools that inspire trust and confidence.”

Through this partnership, Tanishq and GSI aim to bring customers a jewellery buying experience that is not only beautiful and personal but also transparent and reassuring, where knowledge and care come together to celebrate every milestone in a customer’s journey.