Shares of jewellery retailers saw strong buying interest on Tuesday, led by PC Jeweller, after both companies reported robust business updates for the March quarter, signalling sustained demand despite volatility in gold prices.
PC Jeweller shares surged as much as 9.5 per cent in early trade, with the stock trading at ₹8.60 at 11.39 am after hitting an intraday high of ₹9.27 against the previous close of ₹8.46. Meanwhile, Kalyan Jewellers India shares also gained momentum, rising up to ₹437.40 (4 per cent positive) before trimming gains to trade flat at ₹417.25 around 11.40 am.
PC Jeweller extends turnaround momentum
PC Jeweller, in its quarterly update to stock exchanges, reported a standalone revenue growth of about 32 per cent year-on-year in Q4FY26, capping a strong full-year performance with revenue rising approximately 49 per cent
The firm also highlighted strategic developments during the quarter, including signing a memorandum of understanding with the National Skill Development Corporation to onboard up to 2,00,000 micro-entrepreneurs over five years under its brand. According to the company, this initiative is expected to expand its retail footprint while supporting entrepreneurship and employment generation.
On the financial front, PC Jeweller told stock exchanges it reduced its outstanding bank debt by around 23 per cent during the quarter under a joint settlement agreement and has already repaid a majority of its dues, moving closer to its goal of becoming debt-free. It also announced the incorporation of a subsidiary in Chad to explore precious metal mining, indicating early steps towards backward integration.
The company said it remains optimistic about demand ahead of the summer wedding season and Akshaya Tritiya, with plans to expand its retail presence and strengthen its balance sheet further.
Kalyan Jewellers posts strong Q4 growth
Kalyan Jewellers India also reported a strong operational performance, with the company informing stock exchanges that consolidated revenue grew approximately 64 per cent year-on-year in Q4FY26, while full-year growth stood at about 42 per cent.
The company said its India business recorded revenue growth exceeding 65 per cent during the quarter, driven by strong same-store sales growth across key markets. Wedding and discretionary demand remained resilient despite fluctuations in gold prices, with same-store sales growth crossing 45 per cent.
International operations also delivered steady performance, with revenue growth of around 45 per cent, led by the West Asia markets. The company noted that geopolitical tensions briefly impacted store footfalls in March, but strong Ramadan sales helped offset the decline.
Kalyan Jewellers added that its digital platform Candere continued to scale rapidly, clocking over 360 per cent growth in Q4. The company also expanded its physical presence with multiple showroom launches and said it is seeing encouraging trends in advance bookings for Akshaya Tritiya and the upcoming wedding season.