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
PNGS Reva Diamond Jewellery Limited Posts Record Q4 FY26, Nearly Doubles Core Diamond Business Year-on-Year
Revenue surges 139% YoY in Q4 FY26, Driven By Strong Diamond Demand, Festive Traction, and Continued Retail Expansion
PNGS Reva Diamond Jewellery Limited, a branded certified natural diamond jewellery retailer backed by the 190+ year legacy of the P. N. Gadgil & Sons Group, reported robust revenue growth for the quarter ended March 31, 2026, reflecting strong consumer demand and continued retail expansion momentum.
Revenue from Operations for Q4 FY26 stood at Rs. 1,382.14 million, registering a 139.07% year-on-year increase compared to Rs. 578.14 million in Q4 FY25. Excluding gold sales, revenue grew 96.90% YoY, highlighting strong growth in the Company’s core diamond jewellery segment. (Figures are subject to limited review by Statutory Auditors.)
The quarter’s revenue included Rs. 243.81 million from gold sales, arising from the disposal of excess gold received as part consideration for diamond jewellery purchases.
Operationally, performance was supported by strong festive and occasion-led demand. Gudhi Padwa sales rose to approximately Rs. 70 million, up from Rs. 20 million last year (2.5x growth), while Valentine’s Day also contributed meaningfully to quarterly performance.
Retail expansion remained a key growth driver. In March 2026, the company added 1 COCO (Company-Owned Company-Operated) store and 1 Shop-in-Shop (SIS) outlet, taking the total store count to 36 (2 COCO + 34 SIS stores) as against 33 SIS stores a year ago. The shift toward a COCO-led format aims to enhance operating leverage and support long-term scalability.
Commenting on the performance, Amit Modak said:
“Our Q4 performance reflects a structural shift towards branded and certified natural diamond jewellery. Encouragingly, we are seeing deeper customer engagement and repeat purchases. As we expand our COCO footprint, our focus remains on building a scalable retail platform with strong inventory discipline and a consistent brand experience.”
Looking ahead, the company plans to roll out ~15 COCO stores over the next 24 months, supported by IPO proceeds allocated towards store capex, inventory, and brand-building initiatives. One store has already been launched in March 2026.
In parallel, PNGS Reva will continue leveraging SIS placements within promoter group stores, enabling capital-efficient expansion alongside exclusive outlets.
With a disciplined expansion strategy across Maharashtra and high-growth pan-India markets, and backed by the strong heritage and credibility of PNGS, the company is well-positioned to sustain growth momentum in the organised diamond jewellery segment.
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