Kalyan Jewellers India stock fell 1.56 percent on October 6

Published on 10/07/2026 at 01:20 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Kalyan Jewellers India stock posted a fresh market move on October 6, 2026. Q1 FY27 revenue reached INR 105,889 million, up 46 percent year over year.

Kalyan, INE303R01014, Illustration mit AI erstellt.

Kalyan Jewellers India stock was last at INR 548.15 on the NSE on October 6, 2026 at 3:15 p.m. IST, down 1.56 percent from the previous close. The latest reported quarter shows the central tension: revenue expanded quickly, while operating profitability came under pressure.

Revenue growth stays substantial

In Q1 FY27, consolidated revenue reached INR 105,889 million, a 46 percent year-over-year increase, according to DSIJ in its report dated August 4, 2026. India revenue rose 47 percent year over year to INR 90,255 million, although it came below Motilal Oswal's estimate of INR 92,862 million.

The same report put India same-store sales growth at 28 percent, with 30 percent in South India and 27 percent in non-South markets. Candere revenue increased to INR 1,410 million from INR 660 million in Q1 FY26, and the digital business moved to a profit of INR 21 million from a loss of INR 100 million.

Margins temper the growth story

India EBITDA increased 6 percent year over year to INR 4,590 million, but the EBITDA margin was 5.1 percent against Motilal Oswal's 6.7 percent estimate, DSIJ reported. India gross margin declined 280 basis points year over year to 10.8 percent after adjustment for a one-time customs-duty gain.

Expansion remains the operating counterweight. Kalyan added 12 net India stores to reach 354, while Candere added five stores to reach 129, bringing the total India store count to 483 in Q1 FY27, according to DSIJ. The Middle East business also recorded 29 percent revenue growth and 25 percent same-store sales growth during the quarter.

Analysts retain a positive view

Investing.com lists a Strong Buy consensus from 10 analysts, including 9 Buy ratings, 1 Hold rating and 0 Sell ratings. The 12-month average target is INR 760.50, with a high of INR 900 and a low of INR 600.

For investors, the comparison is direct: Kalyan is producing 46 percent revenue growth, but the 5.1 percent India EBITDA margin remains below the 6.7 percent broker estimate. That gap places execution and margin recovery alongside store expansion in the stock's valuation debate.

Stock trades below its yearly high

Kalyan Jewellers India stock was last at INR 548.15 on the NSE on October 6, 2026 at 3:15 p.m. IST, with an intraday range of INR 547.20 to INR 581.90 and a 52-week range of INR 327.05 to INR 648.95. Market capitalization stood at INR 566.1 billion.