Kalyan Jewellers India surges as Q2 PAT jumps 64% YoY
Revenue from operations grew 31% year on year to Rs 10,322.6 crore from Rs 7,856 crore. However, revenue declined 3% sequentially from Rs 10,588.9 crore in the previous quarter.
Gross profit increased 25% year on year to Rs 1,273.3 crore from Rs 1,016.6 crore. Gross profit margin stood at 12.3%, compared with 12.9% in the year-ago quarter and 11.9% in Q1 FY27.
EBITDA rose 30% year on year to Rs 644.5 crore, with margin at 6.2% versus 6.3%. Sequentially, EBITDA increased 2%, while margin improved 20 basis points from 6.0%.
Profit before exceptional items and tax increased 39% year on year to Rs 486.6 crore from Rs 350.3 crore. The company reported exceptional items of Rs 73.5 crore during the quarter from the sale of non-core real estate assets. Consequently, profit before tax rose 60% to Rs 560.1 crore from Rs 350.3 crore. Sequentially, PBT increased 20% from Rs 464.8 crore.
Total operating expenses increased 21% year on year to Rs 628.9 crore. Advertisement and promotion expenses remained almost flat at Rs 141.7 crore, while other operating expenses rose 29% to Rs 487.2 crore. Depreciation increased 23% to Rs 127.2 crore, while finance costs rose 14% to Rs 108.7 crore. Other income increased 52% to Rs 78 crore.
On the operational front, the company had 504 showrooms in India, 38 in the Middle East, two in the US and two in the UK. Its presence spanned seven countries and 24 states and Union Territories in India. The company also had 15 procurement centres and 17,504 employees.
Ramesh Kalyanaraman, executive director of Kalyan Jewellers India, said the ongoing festive quarter had started well, with encouraging growth during Navratri and Dhanteras. He added that the company was upbeat about the wedding season and expected to end the quarter on a strong note.
Headquartered in Thrissur, Kerala, Kalyan Jewellers is a jewellery retailer with operations in India, the Middle East, the US and the UK. It offers traditional and contemporary jewellery designs in gold, diamonds and precious stones.
According the the company, India?s retail gems and jewellery market is expected to grow at a compound annual growth rate (CAGR) of 12.2% between CY25 and CY30, driven by rising incomes, changing consumer preferences and the continued shift towards organised retail.
Wedding jewellery remains a major market segment. It is projected to account for 40-45% of the market by CY28, while daily-wear jewellery is expected to contribute a similar share of 40-45%. Other categories are projected to account for 15-20%.
India was the world's second-largest gold consumer in FY26 and jewellery was the country's third-largest commodity export category. The sector contributed 7% to India's GDP and accounted for 15.71% of merchandise exports in FY26, according to the presentation. Jewellery purchases in India stood at Rs 4.8 lakh crore in CY25, reflecting around 10% year-on-year growth despite record gold prices.
The southern region accounted for the largest share of India's jewellery market at 41.1% in CY25, followed by the West at 23.7%, North at 21.2% and East at 14%.
Powered by Capital Market - Live News