Shares of Kalyan Jewellers India Ltd plunged 7% on 8th August after touching a day’s high of Rs 616, despite strong Q1 results.

On 7th August, Kalyan Jewellers reported a net profit of Rs 264 crore for Q1FY26, up 49% year-over-year, with revenue rising 31% to Rs 7,268.48 crore. EBITDA grew 38% to Rs 508 crore. Same-store sales growth remained strong at 18%, continuing the double-digit trend of the past six to eight quarters, and Q2 FY26 is expected to benefit from more festive days. The company has reduced bank loans by Rs 500 crore so far.

Kalyan holds a 7% share in India’s organised jewellery market, which has grown from 32% in 2020 to 40% this year, driven by demand in rural areas. The brand plans to expand mainly through a capital-light franchise model and launch regional brands with localised designs.

Year-to-date, the stock is down nearly 29%, but it has remained flat over the past year. Meanwhile, Titan is exploring options for 14- and 18-carat jewellery to offer more affordable products.

At 11:35 AM, the shares of Kalyan Jewellers were trading 7.82% lower at Rs 544.75 on NSE.

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