National News
Kalyan Jewellers – Quarterly Update: Q1 FY2026
The recently concluded quarter has been a very fulfilling one, recording consolidated revenue growth of approximately 31% when compared to the same period in the previous financial year despite multiple pauses in demand during the quarter, majorly due to volatility in gold prices and geopolitical tensions.
Our India operations witnessed revenue growth of approximately 31% during Q1 FY2026 as compared to Q1 FY2025, driven primarily by robust Akshaya Tritiya and wedding demand. The quarter recorded healthy same-store-sales-growth of approximately 18%.
Our international operations recorded revenue growth of approximately 31% when compared to the same period during the previous financial year. In the Middle East, we witnessed revenue growth of approximately 26% for Q1 FY2026 as compared to Q1 FY2025 driven predominantly by same-store-sales-growth. International markets contributed approximately 15% to our consolidated revenue for the recently concluded quarter.
Our digital-first jewellery platform, Candere, recorded a revenue growth of approximately 67% during the recently concluded quarter as compared to the same period during the last year. Candere launched its brand campaign during the second half of May 2025. We are encouraged by the significant improvement in showroom footfalls, web traffic and revenue growth for the period post the launch of the brand campaign when compared to the corresponding period in the previous year.
During the recently concluded quarter, we launched 10 Kalyan showrooms in India, 1 Kalyan showroom in the US and 8 Candere showrooms in India.
The ongoing quarter has started off well and we are upbeat about the upcoming new showroom launches, gearing up with fresh collections and campaigns for the upcoming festive and wedding season across the country. As communicated earlier, during FY 2026, we plan 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.
As of June 30, 2025, our total number of showrooms across India and the Middle East stood at 406 (Kalyan India – 287, Kalyan Middle East – 36, Kalyan USA – 2, Candere – 81).
National News
Gold Holds Steady On MCX As Middle East Tensions Cloud Market Direction
Bullion Trades Range-Bound As Strait Of Hormuz Uncertainty Fuels Inflation Fears
Gold prices were largely unchanged at the open on India’s Multi Commodity Exchange (MCX) on Tuesday, as investors weighed persistent geopolitical tensions in the Middle East against shifting expectations for global monetary policy.
The MCX gold May futures contract edged up 0.01% to Rs. 1,52,417 per 10 grams in early trade, while silver for May delivery declined 0.55% to Rs. 2,51,160 per kilogram. The muted start followed a cautious global tone, with bullion markets struggling to find direction amid conflicting macro signals.
Internationally, spot gold held above the $4,800-an-ounce mark in early trading but later slipped about 0.5%, even as crude oil prices fell nearly 1%. Spot silver also weakened, dropping roughly 1%. The divergence underscores a market caught between safe-haven demand and rising concerns over tighter financial conditions.
Investor sentiment remains tethered to developments around the Strait of Hormuz, a critical artery for global energy supplies. Escalating tensions in the region have fueled fears of a prolonged disruption, amplifying inflationary pressures at a time when central banks are already navigating a delicate policy balance.
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