The company’s India operations witnessed revenue growth of approximately 41% during Q3 FY2025 as compared to Q3 FY2024, led by very strong festive and wedding demand across both gold and studded categories. The quarter recorded healthy same-store-sales-growth of approximately 24%.
It launched 24 Kalyan showrooms in India during the recently concluded quarter, with a strong pipeline of showrooms set to open over the course of the current quarter.
In the Middle East, the company witnessed revenue growth of approximately 22% when compared to the same period in the previous financial year. Middle East contributed around 11% to our consolidated revenue for the recently concluded quarter.
During the recently concluded quarter, the Kerala based jewellery maker launched first showroom (Company Owned Company Operated) in the United States of America.
The company’s digital-first jewellery platform, Candere, recorded a revenue growth of approximately 89% during the recently concluded quarter as compared to the same period during the last year. It launched 23 Candere showrooms during Q3 FY 2025.
“During the current quarter, we plan to launch 30 Kalyan showrooms and 15 Candere showrooms in India keeping us ahead of our announced showroom roll-out plan of 80 Kalyan showrooms and 50 Candere showrooms in India for FY 2025,” the company stated in regulatory filing.
For FY 2026, The company drawn up plans to launch 170 showrooms across Kalyan and Candere formats - 75 Kalyan showrooms (all FOCO) in non-south India, 15 Kalyan showrooms (all FOCO) across south India and international markets and 80 Candere showrooms in India. We have already started signing LOIs for the Franchisee Owned Company Operated (FOCO) showrooms planned for the next financial year in India and international markets.
During the recently concluded quarter, The company has launched 46 net showrooms across Kalyan and Candere formats taking the total number of showrooms as on 31st December 2024 to 349 (Kalyan India – 253, Kalyan Middle East – 36, Kalyan USA – 1, Candere – 59).
Headquartered in Kerala, Kalyan Jewellers is one the largest jewellery retailers in India with a presence in the Middle East.
The company’s consolidated net profit declined 3.43% to Rs 130.61 crore in Q2 FY25 as compared with Rs 135.25 crore posted in Q2 FY24. Revenue from operations increased 37.4% YoY to Rs 6,065.48 crore in the quarter ended 30 September 2024.