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
Gold and Silver Decline On a Strong Dollar
Navigating Volatility Between Oil Costs and Currency Strength
The Indian bullion market took a breather this Thursday as a combination of a stronger dollar and geopolitical shifts triggered a wave of profit-taking. After reaching record heights earlier in the week, both gold and silver saw a significant pullback on the MCX. The domestic futures gold price on MCX traded 2.54 percent lower to Rs 1,49,800 per 10 grams of 24-carat purity, from the previous close. Silver edged 6 percent down to Rs 2,28,891 per kilogram. Bullion has fallen as investors rush to book profits from recent highs.
The rally lost steam as several macroeconomic factors converged to weigh down the metals:
- Profit Booking: After gold surged to a staggering Rs 1,54,500 per 10 grams yesterday, investors were quick to lock in gains, leading to a sharp intraday correction. Currency Pressure: A firmer U.S. Dollar made dollar-priced commodities more expensive for holders of other currencies, dampening demand. Geopolitical Cool-down: Signs of de-escalation in West Asia have slightly reduced the “safe-haven” premium that usually keeps bullion prices inflated. Energy & Economy: While tightening energy supplies and rising oil prices often act as a floor for metal prices, they weren’t enough to offset today’s broad sell-off.
Outlook
Despite the current correction, the underlying market remains sensitive. While easing tensions in West Asia provides some relief, the interplay between rising oil costs and a strong dollar will continue to dictate the short-term volatility for precious metals. For now, the “rush to the exits” is the primary driver as the market stabilizes from its recent peaks.
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