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Kalyan Jewellers India Limited Q2 FY26 earnings call summary

NSE: KALYANKJIL · BSE: 543278

Earnings call of 7 Nov 2025, summarised by AI from the filing.

Non-GML debt to ₹400 cr by March 31; debt free next year.

Key takeaways

  1. Debt guidance Non-GML debt to ₹400 cr by March 31; debt free next year.
  2. Festive SSG Same-store sales growth 30%+ for 30 days ending Diwali.
  3. Store expansion 84 Kalyan India, 6 international, 80 Candere stores planned this year.
  4. Margin risk EBITDA margins to degrow at least next year due to FOCO expansion.

Original filing on BSE

Kalyan Jewellers India Limited Q1 FY27 results

As filed: Revenue ₹10,589 cr (+46% year on year), EBITDA ₹633 cr (+24% year on year), PAT ₹349 cr (+32% year on year), EBITDA margin 6.0% (−103 bps).

The Q1 FY27 score, against the company's own trend, is for premium members.

Earlier results and the share price after them

  • Q4 FY26: Revenue ₹10,275 cr (+66% year on year), EBITDA ₹736 cr (+84% year on year), PAT ₹410 cr (+118% year on year), EBITDA margin 7.2% (+71 bps). Score 91 of 100, Above trend. Revenue, EBITDA and profit growth were well above the company's own trend. EBITDA margin rose 71 bps year on year. Profit rose ₹222 cr on a year ago, more than the ₹51.0 cr it added the year before. Share price after the results: −9.6% in 28 days (Nifty 500: −3.2%).
  • Q3 FY26: Revenue ₹10,343 cr (+42% year on year), EBITDA ₹750 cr (+71% year on year), PAT ₹416 cr (+90% year on year), EBITDA margin 7.3% (+122 bps). Score 95 of 100, Above trend. Revenue, EBITDA and profit growth were well above the company's own trend. EBITDA margin rose 122 bps year on year. Revenue grew on the previous quarter, against its usual seasonal pattern. Profit rose ₹197 cr on a year ago, more than the ₹39.0 cr it added the year before. Share price after the results: +4.0% in 28 days (Nifty 500: −4.1%).
  • Q2 FY26: Revenue ₹7,856 cr (+30% year on year), EBITDA ₹497 cr (+52% year on year), PAT ₹261 cr (+101% year on year), EBITDA margin 6.3% (+93 bps). Score 78 of 100, Above trend. Revenue growth was below the company's own trend; EBITDA and profit growth were well above it. EBITDA margin rose 93 bps year on year. Revenue rose ₹1,791 cr on a year ago, more than the ₹1,650 cr it added the year before. Share price after the results: −4.0% in 28 days (Nifty 500: +1.3%).
  • Q1 FY26: Revenue ₹7,268 cr (+31% year on year), EBITDA ₹509 cr (+36% year on year), PAT ₹264 cr (+48% year on year), EBITDA margin 7.0% (+23 bps). Score 82 of 100, Above trend. Revenue growth was below the company's own trend; EBITDA growth was well above it; profit growth was above it. EBITDA margin rose 23 bps year on year. Revenue rose ₹1,733 cr on a year ago, more than the ₹1,159 cr it added the year before. Share price after the results: −15.1% in 29 days (Nifty 500: +0.6%).
  • Q4 FY25: Revenue ₹6,182 cr (+36% year on year), EBITDA ₹399 cr (+30% year on year), PAT ₹188 cr (+37% year on year), EBITDA margin 6.5% (−32 bps). Score 71 of 100, Above trend. Revenue growth was above the company's own trend; EBITDA growth was well above it; profit growth was in line with it. EBITDA margin fell 32 bps year on year. Revenue fell 15% from last quarter. Revenue rose ₹1,647 cr on a year ago, more than the ₹1,153 cr it added the year before. Share price after the results: +9.9% in 29 days (Nifty 500: +6.1%).
  • Q3 FY25: Revenue ₹7,287 cr (+40% year on year), EBITDA ₹440 cr (+19% year on year), PAT ₹219 cr (+22% year on year), EBITDA margin 6.0% (−107 bps). Score 69 of 100, Above trend. Revenue growth was well above the company's own trend; EBITDA growth was above it; profit growth was in line with it. EBITDA margin fell 107 bps year on year. Profit rose ₹39.0 cr on a year ago, more than the ₹32.0 cr it added the year before.
  • Q2 FY25: Revenue ₹6,065 cr (+37% year on year), EBITDA ₹327 cr (+4% year on year), PAT ₹130 cr (−4% year on year), EBITDA margin 5.4% (−172 bps). Score 51 of 100, In line with trend. EBITDA margin fell 172 bps year on year. Not enough history for a trend yet: scored on growth alone. Profit fell 27% from last quarter.

Past price moves after results do not indicate future moves. Not a recommendation.

Kalyan Jewellers India Limited earnings call, investor presentation and press release summaries

Figures from the company's filings with NSE and BSE. Not investment advice.