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Kalyan Jewellers – Quarterly Update: Q1 FY2026

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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).

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PNG Jewellers Marks 25 Years Of Paud Road Store With ‘Choosing Gold’ Marathi Edition Launch By Actress Shreya Bugade

Launched Within Three Months Of The English Edition, The Marathi Memoir Was Unveiled In The Presence Of Actress Shreya Bugade At PNG Jewellers’ Paud Road Store.

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Dr. Saurabh Gadgil, Chairman and Managing Director of PNG Jewellers, launched the Marathi edition of his debut memoir, Choosing Gold, in Pune, in the presence of popular Marathi actress Shreya Bugade. The Marathi edition comes just three months after the book’s English release in August 2026, bringing Dr Gadgil’s personal and professional journey closer to readers in his mother tongue. The launch took place at PNG Jewellers’ Paud Road store, which also celebrated 25 glorious years of serving customers and building lasting relationships in Pune.

Choosing Gold offers a deeply personal account of Dr. Gadgil’s journey as the sixth-generation custodian of PNG Jewellers, one of India’s oldest and most respected jewellery businesses with a legacy spanning 194 years. Originally published in English by Penguin Random House India in August 2026, the memoir reflects on the challenges, defining decisions and experiences that shaped his leadership and the evolution of the business. With the launch of its Marathi edition, this journey now reaches readers in a language closely connected to Dr. Gadgil’s upbringing, family and roots.

More than the story of a successful entrepreneur, Choosing Gold is an honest reflection on the responsibility of carrying forward a legacy while finding one’s own identity. Having taken over the leadership of PNG Jewellers, Dr. Gadgil navigated several defining moments that tested his conviction and shaped his outlook. The memoir revisits the lessons learned from setbacks, conversations with his grandfather and mother that stayed with him over the years, and personal experiences that influenced his decisions. It also offers insight into his approach to leading and transforming a nearly two-century-old family business while remaining rooted in the values on which it was built.

Speaking on the launch, Dr. Saurabh Gadgil, Chairman and Managing Director, PNG Jewellers, said:

“Ever since the English edition of Choosing Gold was released, I had been eagerly looking forward to bringing the book to Marathi readers. Marathi is my mother tongue, and seeing my experiences, decisions and learnings reach readers in my own language is a moment of immense pride and happiness for me. Writing this book allowed me to revisit several moments in my life. Some decisions worked out, some did not, and the significance of a few became clear only years later. Each of these experiences has shaped the person I am today. My family’s values, the rich legacy of PNG Jewellers and the trust our customers have placed in us have all played an important role in this journey.

I am particularly happy that the Marathi edition will allow me to connect with readers in a more personal way. If even one experience from my journey helps someone approach a difficult decision with greater confidence, I would consider the purpose of this book fulfilled.”


Popular Marathi actress Shreya Bugade, who graced the occasion as the chief guest, said:

“It is truly an honour to be part of the launch of the Marathi edition of Dr. Saurabh Gadgil’s Choosing Gold. What makes this occasion even more special is that we are also celebrating 25 glorious years of PNG Jewellers’ Paud Road store. It is a double celebration, and I am delighted to be part of it.”

The launch of the Marathi edition marks another significant milestone in Dr. Gadgil’s journey as an author. Going beyond the world of business, the memoir explores leadership, family, relationships, responsibility and the importance of believing in one’s decisions. Its themes extend beyond entrepreneurs and business professionals, offering relatable experiences and reflections for readers navigating their own ambitions, challenges and choices.

The occasion also marked the silver jubilee of PNG Jewellers’ Paud Road store, celebrating 25 glorious years of customer trust and relationships. Over the past two and a half decades, the store has built a strong connection with generations of customers in the neighbourhood, making it an important part of PNG Jewellers’ journey in Pune.

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