Kalyan Jewellers, one of India's top jewellery companies, witnessed continued robust momentum in both footfalls and revenue across all its markets in India and the Middle East over the past several quarters.
In the recently concluded quarter, the company concluded the quarter with revenue of 34 per cent, as compared to 31 per cent during the same period in the previous financial year.
Strong operating momentum has been consistent and sustained through the entire quarter, including during Akshaya Tritiya, underpinning the resilience of its category within the overall consumption basket and demonstrating strong execution in the market by its operating team on the ground.
The non-south markets recorded higher overall revenue growth largely due to the greater number of showrooms launched in that region over the last twelve months.
Gross margin at the showroom level has improved as compared to the same period in the previous financial year and has remained broadly in line with the prior quarter. As expected, given the higher share of revenue from franchised showrooms, the blended gross margin has declined sequentially as well as when compared to the same period in the previous financial year.
Kalyan Jewellers also added 12 new ‘Kalyan’ showrooms across non-south markets during the recently concluded quarter and expect to launch 20 new showrooms across non-south markets before Diwali, as part of its previously communicated plan of launching 52 new showrooms during the current year.
Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough & Polished
