National News
Kalyan Jewellers India Ltd recorded PAT of Rs 219 crore in Q3 FY25
~ The first-of-its-kind store aims to redefine Gold and Silver Shopping with Innovation, Luxury, and Unmatched Convenience ~
Kalyan Jewellers India Limited recorded consolidated revenue of Rs 7287 crore in Q3 FY25 as against Rs 5223 crore in the corresponding period of the previous year, a growth of 40%. Consolidated PAT for Q3 FY25 was Rs 219 crore as against a PAT of Rs 180 crore for the corresponding period in the previous year. Consolidated PAT growth would be 44% adjusting for the loss due to reduction in customs duty (announced during Union Budget in July 2024).
The standalone revenue for the company (India) in Q3 FY25, was Rs 6393 crore, as against Rs 4512 crore in Q3 of the previous financial year, a growth of 42%. The India operations recorded PAT of Rs 218 crore for the quarter compared to a PAT of Rs 168 crore for the corresponding period in the previous year. Adjusting for the customs duty loss the PAT growth would be 54%.
Total revenue from the Middle East operations during Q3 FY25 was Rs 840 crore as against Rs 683 crore in Q3 FY24, a growth of over 23%. The Middle East operations recorded PAT of Rs 15 crore for the quarter compared to a PAT of Rs 14 crore for the corresponding period in the previous year. The PBT grew by 23% over the corresponding quarter of the previous year. However, the PAT growth for Q3FY25 was impacted due to the introduction of new corporate tax in the UAE.
The e-commerce division, Candere, recorded a revenue of Rs 55 crore in Q3 FY25 versus Rs 29 crore in Q3 FY24. The company recorded a loss of Rs 6.9 crore in Q3 FY25 versus a loss of Rs 1.6 Cr during Q3 FY24.
Ramesh Kalyanaraman, Executive Director, Kalyan Jewellers India Limited said, “We are extremely excited with the way the current year has progressed. The current quarter has started off well despite the volatility in gold prices. We are upbeat about the ongoing wedding season and expect to end the financial year on a strong note. We are on track for the launch of 30 Kalyan showrooms and 15 Candere showrooms in India during the current quarter.”
National News
BIS Introduces The Silver Refinery Certification Scheme; Framework Introduces “India Good Delivery For Silver”
Buyers, Institutional Investors, and Jewelers Are Guaranteed Strict Adherence To Exact Quality, Testing, and Traceability Standards. Silver From Any BIS-Approved Refinery Ensures A Verified Fineness and Purity
The Bureau of Indian Standards (BIS) has officially prioritized the domestic bullion sector by introducing the Silver Refinery Certification Scheme, that involved critical inputs and efforts by IBJA.
Mirroring the long-established certification ecosystem for gold, this framework introduces a structured “India Good Delivery for Silver” standard specifically tailored for silver bars and coins.
Buyers, institutional investors, and jewelers are guaranteed strict adherence to exact quality, testing, and traceability standards. Silver from any BIS-approved refinery ensures a verified fineness and purity.
Surendra Mehta, National Secretary- IBJA, said:
“BIS is introducing the Silver Refinery Certification Scheme, an initiative that involved critical inputs and efforts by IBJA. Mirroring the long-established certification ecosystem for gold, this framework introduces a structured India Good Delivery for Silver. Now, silver from any BIS-approved refinery ensures a verified fineness and purity. This will gradually end the impure silver bar market.”
Market structures have already evolved alongside this rollout. The Multi Commodity Exchange (MCX) aligned its exchange delivery protocols to accept BIS-standard domestic silver, allowing empanelled Indian refiners to fulfill physical delivery contracts directly on the exchange.
By formalizing the local refining of silver (including silver recovered as a by-product of gold dore), this scheme strengthens the domestic precious metals ecosystem in line with Aatmanirbhar Bharat objectives
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