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Kalyan Jewellers delivered robust Q1 FY26 results: consolidated revenue jumped 31% to ₹7,268 Cr and PAT climbed 49% to ₹264 Cr. Management outlined a strategic push with a new "regional brand" format launching this year, targeting specific local markets, expected to be PAT positive from year one. A successful pilot of a leaner credit procurement strategy showed higher returns on capital and significant margin improvement potential, planned for wider implementation. Candere, their e-commerce brand, is stabilizing and aims for PAT positive by year-end. The company pauses debt reduction while awaiting collateral release, with a confident outlook on upcoming festive demand.