Kalyan Jewellers Shares Rise After Q2 Business Update

Shares of Kalyan Jewellers India Ltd. rose after the company witnessed revenue growth (YoY) of 60% for our India operations during the September quarter. In its q2 business update filed with the exchanges, the company said that there was robust momentum in both footfalls and revenue across all markets in India and Middle East, despite lockdown-related disruptions.

• Non-south markets recorded higher same store sales growth of 70% compared to south markets (same store sales growth at 40%).
• The company also state d that the gross margin improved in the September quarter on a QoQ basis, driven by increase in the studded mix.
• 92% of the showrooms in September quarter were operational compared to 88% YoY.
• As of September 30, 2021, 100% of the company’s showrooms were operational, the company said.

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