Kalyan Jewellers India Limited — Investor Meet, 08-08-2026: Analysts/Institutional Investor Meet/Con. Call Updates

Kalyan Jewellers delivered robust Q1 FY27 results: consolidated revenue jumped 38% to INR 10,008 Cr, with PAT rising 32% to INR 349 Cr. Candere also turned profitable. Management reported strong demand, with recycled gold now exceeding 46% of revenue. They launched 'Akshaya Thanga Maligai' (ATM), a new regional brand for Tamil Nadu. The company expects to be non-GML debt-free by September, aided by INR 102 Cr from non-core asset sales. While Q1 PBT margins faced short-term pressure from gold exchange offers and employee costs, full-year margins are expected to stabilize, supported by 'cash for gold' initiatives and an anticipated INR 60 Cr customs duty benefit in Q2. Management maintains a confident outlook on growth and capital-light expansion.