Date: 07th October 2026
Financial Performance
Consolidated revenue grew by more than 26% year-over-year for Q2 FY2027 (quarter ended September 30, 2026) compared to Q2 FY2026.
India operations recorded revenue growth of approximately 27% for Q2 FY2027 compared to Q2 FY2026, driven by robust operating momentum and healthy same-store-sales-growth across all key markets. Same-store-sales-growth was approximately 20% for the quarter.
International operations recorded revenue growth of approximately 18% for Q2 FY2027 compared to Q2 FY2026. Middle East operations specifically witnessed revenue growth of approximately 12%, driven entirely by same-store-sales-growth.
International markets contributed approximately 11% to consolidated revenue for the quarter.
The lifestyle jewellery brand Candere recorded revenue growth of approximately 64% during Q2 FY2027 compared to the same period last year.
All revenue figures refer to revenue from sale of goods (excluding bullion) and are subject to Limited Review process by Statutory Auditors.
Operational Highlights
Total number of showrooms as of September 30, 2026 stood at 546 across all markets:
- Kalyan India: 365 showrooms
- Kalyan Middle East: 38 showrooms
- Kalyan USA: 2 showrooms
- Kalyan UK: 2 showrooms
- Candere: 138 showrooms
During Q2 FY2027, the company launched:
- 12 Kalyan showrooms in India (net 11)
- 9 Candere showrooms in India
- 1 Kalyan showroom in the UK
The company launched its first regional brand, Akshaya Thanga Maligai (ATM), in Chennai in August 2026. The brand has shown strong revenue traction in the first 40+ days of operation.
Strategic Actions & Restructuring
The company completed the sale of one of two identified parcels of non-core real estate assets (held for sale) with a value of approximately ₹86 crore during Q2 FY2027.
The sale of the second parcel, valued at approximately ₹16 crore, is expected to be completed during Q3 FY2027 (ongoing quarter).
Non-GML debt was reduced to zero during the quarter.
Future Outlook
The company has drawn up plans to launch four additional Akshaya Thanga Maligai showrooms under the franchised model during FY2027:
- Two showrooms during Q3 FY2027 (ongoing quarter)
- Two showrooms during Q4 FY2027
The company is upbeat about the upcoming festive and wedding season across the country and is prepared with fresh collections, campaigns, and new showroom launches.
The biggest season for Tamil Nadu is slated to start from October 11th.