Kalyan Jewellers Q2FY26 Preview: Profit may double, revenue seen rising 28% YoY

Kalyan Jewellers Q2FY26 Results Preview: Kalyan Jewellers is scheduled to release its September-quarter (Q2FY26) results on November 7, 2025, and market watchers expect a healthy showing, helped by strong festive-season demand and expanding store presence.

Estimates compiled by Zee Business Research suggest that the company’s consolidated revenue could climb about 28.5 per cent year-on-year to Rs 7,795 crore, up from Rs 6,065 crore a year ago. Operating profit (EBITDA) may increase around 53 per cent to Rs 500 crore, while margins are expected to improve to 6.4 per cent from 5.4 per cent. Net profit is projected to nearly double to Rs 262 crore, supported by stronger other income and steady operating performance.

In terms of segments, revenue from India operations is expected to grow 31 per cent, while international markets could see a 17 per cent rise. Same-store sales growth (SSSG) may come in at 16 per cent, showing resilient consumer spending despite volatile gold prices. Meanwhile, the company’s online jewellery arm Candere is likely to post a sharp 127 per cent jump in revenue.

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During the quarter, Kalyan Jewellers reportedly added 15 new stores, continuing its expansion drive across key markets.

Kalyan Jewellers Q1FY26 result highlights

Kalyan Jewellers reported strong Q1 FY26 results with a consolidated net profit of Rs 264 crore, a 49 per cent year-on-year (YoY) increase, driven by a 31 per cent YoY rise in consolidated revenue to Rs 7,268 crore. Growth was fueled by robust domestic and international sales, and a 67 per cent revenue increase in its digital arm, Candere, though Candere recorded a net loss of Rs 10 crore for the quarter.

Robust domestic sales and a 55 per cent rise in standalone PAT contributed significantly to the overall growth. International operations, particularly in the Middle East, saw a 32 per cent revenue increase. The digital platform, Candere, performed well with a 67 per cent revenue increase, demonstrating strong growth potential despite remaining unprofitable in the quarter.