Kalyan Jewellers Share Price Slipped Over 2% Despite Growth in Q2 FY25

Kalyan Jewellers Limited has announced impressive financial results for the quarter ending September 30, 2024 (Q2 FY25). The company’s consolidated revenue surged by approximately 37% compared to the same period last year, driven by robust growth in both India and the Middle East.

In India, Kalyan Jewellers witnessed a remarkable 39% increase in revenue, fueled by strong same-store sales growth and increased footfall following a reduction in customs duties on gold imports. The company also expanded its retail footprint by launching 15 new franchisee-owned-company-operated (FOCO) showrooms.

The Middle East operations contributed approximately 13% to Kalyan Jewellers’ consolidated revenue during the quarter. Revenue in this region grew by 24% year-over-year, supported by the conversion of owned showrooms to FOCO franchises.

Kalyan Jewellers’ digital-first platform, Candere, also experienced significant growth, with revenue increasing by approximately 30%. The company launched 12 new Candere showrooms during the quarter and has ambitious plans to open over 130 new showrooms across India and the United States throughout the current financial year.

As the festive season begins, Kalyan Jewellers is well-positioned to capitalise on increased consumer demand with new showroom launches, fresh collections, and targeted marketing campaigns. 

On October 07, 2024, Kalyan Jewellers shares opened at ₹727.00 and touched the day low of ₹690.60 at 09:50 AM.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.