Kalyan Jewellers Share Price: Mega Gold Stock Crashes 9% After Q1 Update; BUY-On-Dips?

Kalyan Jewellers' share price crashed at least 8% on July 7th despite posting strong growth in its Q1 update for FY27. Investor sentiment was broadly volatile for gold stocks due to selloffs in gold and silver commodities. Hence, Kalyan faced the brunt. But Kalyan stated that the recently concluded Q1FY27 has been very satisfying, with consolidated revenue growth recording approximately 38% growth from the same quarter a year ago.

Kalyan Jewellers Share Price

At the time of writing, Kalyan shares traded at Rs 352.30 apiece on BSE, registering a decline of Rs 28.90 or 7.58%. Its market cap stood around Rs 36,383.44 crore. The stock is near its intraday low.

Just few minutes ago, Kalyan shares nosedived by nearly 8.62% to hit an intraday low of Rs 348.35 apiece, which is closer to its 52-week low of Rs 327.15 apiece.

The selloffs can be attributed to a sharp decline in the commodity market. MCX gold price dropped by at least Rs 1,150 and erased Rs 1.46 lakh mark in 10 grams during the early trade of Tuesday. Also, MCX silver crashed by nearly Rs 3,237 to hit an intraday low of Rs 2,32,862 per 1kg grams.

Kalyan Jewellers Q1FY27 Update:

In Q1FY27, Kalyan recorded revenue growth over 38% in India operations, led by robust operating momentum on the ground with healthy same-store-sales-growth across all the key markets in the country despite the 28-day Adhik Maas period falling fully in the recently concluded quarter.

"Adhik Maas is a once in a 3-year phenomenon during which wedding related demand tends to take a pause in certain parts of the country. The recently concluded quarter recorded same-store-sales-growth of approximately 28%," said Kalyan Jewellers in a statement.

Meanwhile, Kalyan recorded 35% revenue growth in Q1FY27 compared to previous year same quarter.

Within the Middle East specifically, Kalyan witnessed revenue growth of approximately 30% for Q1 FY2027 as compared to Q1 FY2026 driven predominantly by same-store-sales-growth despite the impact on footfall during the month of April due to the geopolitical tensions in the region.

Overall, international market contributed about 14% to Kalyan's total consolidated revenue.

Additionally, its digital-first jewellery platform, Candere, recorded a revenue growth of
approximately 112% during the recently concluded quarter as compared to the same period during the last year.

Furthermore, its newly launched 'Shine with India' gold recirculation campaign was also well received by its customers. The share of recycled gold as a percentage of revenue to over 46% during Q1 FY 2027. For the month of June, the share of recycled gold as a percentage of revenue was in excess of 55%.

Lastly, in Q1FY27, Kalyan launched 12 Kalyan showrooms and 5 Candere showrooms in India.

Buy Kalyan Jewellers Share Price?

The consensus recommendation from 9 analysts for Kalyan Jewellers is STRONG BUY, as per Trendlyne data. EPS is expected to grow by 20.5% in FY27. The average target price for Kalyan is Rs 664.44 apiece, signaling a potential 87.43% upside.

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