Kalyan Jewellers Q3FY26 Revenue Surges 42% to ₹7,549 Crore on Strong SSSG
Kalyan Jewellers reported a 42% revenue increase to ₹7,549 Crore in Q3FY26, driven by 27% SSSG in India. Consolidated PAT grew 90% to ₹2,187 Crore. The company's asset-light strategy continues with 51% of Indian revenue from franchised showrooms. Middle East revenue rose 26%.
The substantial revenue growth, margin expansion, and profit surge, coupled with a strong SSSG and the successful execution of the asset-light strategy, are highly material and will likely have a significant positive impact on investor sentiment and the company's stock performance.
The company reported strong revenue growth, significant profit increases, and positive performance across its Indian and Middle East operations, indicating a robust financial health and positive outlook.
Kalyan Jewellers India Limited has announced its financial results for the quarter ended December 31, 2025 (Q3FY26), showcasing robust growth across its operations.
The company reported a consolidated revenue of ₹7,549 Crore for Q3FY26, marking a significant 42% increase compared to ₹5,282 Crore in the same quarter last year (Q3FY25). This growth was primarily driven by a strong Same-Store-Sales Growth (SSSG) of 27% in India. The standalone revenue for India also saw a substantial jump of 42% to ₹6,538 Crore from ₹4,608 Crore in Q3FY25, supported by an SSSG of 27% and healthy new customer additions.
Geographically, India's performance was strong, with non-south markets contributing 58.5% to the total revenue. The studded jewellery segment showed a meaningful improvement, with its share increasing to 31.2% compared to 29.5% year-on-year. The Middle East operations also exhibited resilience, with revenue growing by 26% to ₹1,538 Crore from ₹1,221 Crore in Q3FY25, primarily driven by an SSSG of 24%.
The company continued its asset-light journey, with franchised showrooms playing a significant role. As of December 31, 2025, Kalyan Jewellers had 318 showrooms in India (195 FOCO), 41 international showrooms (5 FOCO), and 110 Candere showrooms (68 FOCO). The share of revenue from franchised showrooms in India reached approximately 51%.
Profitability metrics also showed positive trends. Consolidated EBITDA increased by 75% to ₹4,163 Crore, and Profit After Tax (PAT) grew by 90% to ₹2,187 Crore. India's PAT surged by 77% to ₹4,008 Crore, while the Middle East's PAT increased by 54% to ₹236 Crore.
The company also highlighted its commitment to strengthening its balance sheet and rewarding shareholders, with a focus on capital-efficient growth strategies and debt reduction.
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