National News
Kalyan Jewellers Q4 Update:Revenue Surges 37% Year-on-Year
The recently concluded quarter has been a very fulfilling one recording consolidated revenue growth of approximately 37% when compared to the same period in the previous financial year despite extreme volatility in the gold prices.Our India operations witnessed revenue growth of approximately 39% during Q4 FY2025 as compared to Q4 FY2024, driven primarily by robust wedding demand. The quarter recorded healthy same-store-sales-growth of approximately 21%.
We launched 25 Kalyan showrooms in India during the recently concluded quarter, and another 3 showrooms during the first week of April 2025. We launched 14 Candere showrooms during Q4 FY 2025.
In the Middle East, we witnessed revenue growth of approximately 24% when compared to the same period in the previous financial year driven primarily by same-store-sales-growth. Middle East contributed approximately 12% to our consolidated revenue for the recently concluded quarter.
Our digital-first jewellery platform, Candere, recorded a revenue de-growth of approximately 22% during the recently concluded quarter as compared to the same period during the last year.
As communicated earlier, for FY 2026, we have drawn up plans to launch 170 showrooms across Kalyan and Candere formats – 75 Kalyan showrooms (all FOCO) in non-south India (including 5 larger-format flagship Kalyan showrooms), 15 Kalyan showrooms (all FOCO) across south India and international markets and 80 Candere showrooms in India. We have completed signing LOIs for the Franchisee Owned Company Operated (FOCO) showrooms planned for the year in India.
Kalyan is upbeat about the ongoing quarter and are witnessing encouraging trends in the advance collections for both Akshaya Tritiya as well as for wedding purchases for the festive/wedding season.As of March 31, 2025, our total number of showrooms across India and the Middle East stood at 388 (Kalyan India – 278, Kalyan Middle East – 36, Kalyan USA – 1, Candere – 73).
National News
Consumers Are Offloading Gold For Cash On Fears Of Further Decline In Prices
Major Scrap-Buying Operations Are Reporting Unprecedented Volume Growth
A growing conviction that the precious metal has peaked is driving a historic selling spree across India, the world’s second-largest gold consumer. Indian consumers offloaded nearly 50 metric tons of old gold during the April-June quarter—a staggering 43% surge compared to the same period last year. The rush to liquidate highlights a fundamental shift in how Indian consumers view their gold: less as an emotional keepsake, and more as a tactical financial asset to be traded for profit.
While gold prices have retreated from an all-time high of roughly Rs 1.8 lakh per 10 grams ($2,160) earlier this year, they remain elevated at around Rs 1.4 lakh. Fears that the market could cool further—potentially dropping to Rs 1.2 lakh—have triggered a wave of profit-taking. Instead of the traditional practice of exchanging old necklaces and bangles for new designs, consumers are increasingly demanding cold, hard cash.
This behavior is fueling a boom for India’s organized gold recycling sector. Major scrap-buying operations are reporting unprecedented volume growth. Muthoot Exim, a prominent player in the space, saw a 40% year-over-year volume spike across its network of more than 100 “Gold Point” centers.
The surge in domestic recycling comes at a critical time for India’s macroeconomic balance. The country is overwhelmingly dependent on foreign bullion to satisfy domestic demand, splurging an estimated $72.4 billion on gold imports in the fiscal year ended March 2026.By pushing idle gold back into the supply chain, the recycling boom provides a vital domestic cushion, reducing the country’s reliance on fresh mining imports.
For global gold markets, the behavior of the Indian consumer remains a crucial swing factor. If the selling pressure persists, a steady stream of recycled domestic supply could cap India’s import appetite, potentially easing broader global price pressures.
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National News47 minutes agoConsumers Are Offloading Gold For Cash On Fears Of Further Decline In Prices
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