Kalyan Jewellers delivered an impressive performance in Q3 FY26, reporting its highest quarterly revenue in recent years. The company’s consolidated revenue jumped approximately 42% year-on-year to ₹10,343 crore, compared to ₹7,278 crore in Q3 FY25. This growth reflects strong consumer demand across India and key international markets, particularly during the festive and wedding seasons. Both plain gold and studded jewellery segments contributed to the surge, indicating broad-based demand across different price points.
The company’s net profit nearly doubled, rising about 90% year-on-year to ₹416 crore in Q3 FY26, up from ₹218.7 crore in the same quarter last year. This sharp improvement in profitability highlights not only higher sales volumes but also better cost management and operational efficiency. Strong margins and effective expense control helped the company translate top-line growth into a significant bottom-line rebound.
A key driver of growth was Kalyan Jewellers’ focus on digital channels, particularly its online platform Candere. The digital business continued to expand and contributed meaningfully to overall revenue. While exact figures are not detailed, reports suggest that online sales growth was substantial, reflecting a shift in consumer buying habits and the company’s ability to capture the digital jewellery market.
Domestic operations remained the primary growth engine, with India contributing the bulk of revenue. However, international markets, including the Middle East, also showed healthy growth, supporting Kalyan Jewellers’ global expansion strategy. The company’s ability to balance domestic demand with international performance demonstrates resilience and market diversification.
The Q3 results also reflect an improving operational environment, including better inventory management and strategic pricing. The company benefitted from stable gold prices during the quarter, along with strong demand in the replacement jewellery market. This allowed Kalyan Jewellers to achieve record revenue while maintaining profitability.
Investors responded positively to these results, with Kalyan Jewellers’ shares showing momentum after the earnings announcement. Brokerage firms such as Motilal Oswal and JM Financial reaffirmed buy ratings, highlighting strong same-store sales growth, digital traction, and the company’s expansion plans as key reasons for optimism. The earnings performance reinforces confidence in the company’s ability to grow sustainably while capturing opportunities in both physical and online retail channels.
Overall, Q3 FY26 marks a strong recovery and growth phase for Kalyan Jewellers. The combination of festive demand, digital adoption, and operational improvements contributed to a 42% increase in revenue and a 90% surge in net profit. These results position the company well for future growth and highlight its resilience in navigating market dynamics.