Kalyan Jewellers India Limited — Q1FY27 earnings call summary

Filed 08 August 2026 · Official transcript

FY27 PBT margin guidance maintained at FY26 levels despite short-term margin pressure
Q1 FY27 consolidated revenue ex-bullion grew 38%, PAT up 32% y-y
Non-GML debt repayment on track by Sep; real estate sales ~INR102 Cr expected Q2
Expansion: 70-80 Kalyan showrooms and 50 Candere stores planned in FY27
Old gold recirculation at 55%+ share; margin dilution from exchange offset by cash-for-gold
Multiple analyst queries on margin impact of gold exchange; mgmt expects margin recovery
India business revenue INR8,503 Cr (+38%), PAT INR321 Cr (+25%)
Middle East revenue INR1,320 Cr (+29%), PAT INR25 Cr (+14%)