Kalyan Jewellers saw its stock nosedive nearly 13% today, even though the company posted an impressive 49% jump in profit for the April-June quarter of FY26.
The jewellery giant reported a consolidated net profit of ₹264.08 crore in Q1 FY26, up from ₹177.56 crore in the same quarter last year. That’s a solid rise in earnings, but the market reaction told a different story.
Sales Sparkle, But Stock Slips
Revenue from operations also shone bright, climbing 31% year-on-year to ₹7,268 crore, compared to ₹5,528 crore in Q1 FY25. Despite these strong numbers, investor sentiment remained weak, leading to a sharp decline in share price.
Kalyan’s online-first lifestyle jewellery platform, Candere, turned in a less-than-glittering performance. The platform clocked ₹66 crore in revenue but ended the quarter with a net loss of ₹10 crore.
Looking Ahead: Festive Hopes High
Speaking about the results, Ramesh Kalyanaraman, Executive Director at Kalyan Jewellers India, said,
“We have started the ongoing quarter well despite continuing volatility in gold prices and a higher base. We are upbeat about the upcoming festive season across the country and are gearing up for the launch of fresh collections and campaigns.”
The company appears optimistic about the road ahead, banking on festive demand and new launches. However, today’s market reaction highlights the disconnect that sometimes exists between financial results and investor expectations.
