Kalyan Jewellers said gross margin at the showroom level improved YoY. (Representative image)
Kalyan Jewellers reported a 34 percent growth in its operations in India.
Kalyan Jewellers’ shares received attention on Friday as the jewellery manufacturer announced a 31 percent year-on-year increase in consolidated revenue for the June quarter. This growth was attributed to the sustained momentum in footfalls and revenue across the Indian and Middle Eastern markets.
Additionally, Kalyan Jewellers reported a 34 percent growth in its operations in India.
Kalyan Jewellers, in a regulatory filing to BSE, said that its operational momentum remained consistent and enduring throughout the quarter, including the period of Akshaya Tritiya. This highlights the robustness of its category within the broader consumption landscape.
Kalyan Jewellers on Friday said it plans to open 20 new showrooms across non-south markets before Diwali.
The company is targeting to add 52 showrooms during current fiscal year. Total 12 stores were opened in these markets in the recently concluded quarter.
“We expect to launch 20 new showrooms across non-south markets before Diwali,” Kalyan Jewellers said in the regulatory filing.
The company also expects to launch the first FOCO (Franchisee Owned Company Operated) showroom in the Middle East during second quarter of current fiscal year, it added.
That apart, Kalyan Jewellers plans to launch 20 physical showrooms of Candere, an online jewellery platform, during the next six months.
“We are upbeat about the upcoming new showroom launches and are gearing up with fresh collections and campaigns for the upcoming festive and wedding season across the country starting with Onam towards the end of the current quarter,” the company said.
As of June 30, 2023, the company’s total number of showrooms across India and the Middle East stands at 194.
(With PTI inputs)
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