Shares of Kalyan Jewellers India came under sharp selling pressure on Tuesday, falling nearly 7% despite the company reporting a strong business update for the first quarter of FY27. The decline surprised investors, as the jewellery retailer posted robust growth across its domestic and international operations.
The company reported a 38% year-on-year increase in consolidated revenue for the April–June quarter, driven by healthy consumer demand and strong festive and wedding-related purchases. Its India business delivered solid growth, while international operations also recorded steady expansion, contributing around 14% of consolidated revenue.
Despite the upbeat operational performance, investors chose to book profits after the stock’s recent rally. Analysts said the market may have been expecting even stronger growth, particularly after competitor Titan reported a higher business growth rate for the same period. Comparisons with peers and concerns over the stock’s valuation also weighed on sentiment.
The company continued to expand its retail footprint during the quarter by opening new showrooms in India and overseas. Management said demand remained resilient despite elevated gold prices, with customer interest supported by wedding purchases and festive buying. The franchise-led expansion strategy also continued to strengthen Kalyan Jewellers’ presence across key markets.
Also Read: Telecom tariffs may rise up to 15% soon