Kalyan Jewellers Shares Slide Despite 38% Q1 Revenue Growth
Kalyan Jewellers' shares fell over 7% despite reporting 38% revenue growth in Q1 FY27, while analysts continued to maintain a bullish outlook.
SociapaHQ
On July 7, Kalyan Jewellers India Ltd’s stock declined sharply after the company announced its Q1 FY27 business update, as investors overlooked strong revenue growth and robust operational performance.
The stock was down as much as 7.5% early in the session before trimming some losses to trade around 6.2% lower at ₹357.6.
Kalyan Jewellers’ consolidated revenue grew approximately 38 per cent YoY in the June quarter, backed by strong consumer demand in markets. Moreover, the company posted 28% same-store sales growth, which was a result of the robust performance from its existing retail network.
Its international business continued to gain traction with overseas revenue up almost 35% year-on-year in the quarter.
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Brokerage Optimism:
Among the segments, digital-first jewellery brand Candere was the fastest growing segment, clocking a revenue growth of around 112% over the corresponding period last year.
The update follows a strong quarter for organised jewellery retailers. Rival Titan Company recently announced that its consumer business revenue grew 41% year-on-year with its jewellery business growing 39% while watches and eyewear divisions grew 23% each.
Despite strong operating performance, the stock of Kalyan Jewellers has come under pressure. Shares have fallen about 26% so far in 2026, making them one of the worst performers in the Nifty 500 index, with Tuesday’s decline.
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However, brokerages continue to remain upbeat on the company’s prospects. All eight analysts tracking the stock are of the view that the stock is a “buy”, meaning that Kalyan Jewellers is a consensus buy on the Street, CNBC-TV18 reported. Their target prices suggest an upside of nearly 85% from current levels.
Among broking firms, Asian Markets Securities has the highest target price of ₹ 770 per share while Citi has a target of ₹ 750, showing faith in the company’s long-term growth path despite the recent correction in its share price.
