Kalyan Jewellers, PC Jeweller Stocks Shine As Strong Q4 Updates Trigger Buying Interest

Mumbai, April 7:Shares of jewellery companies rallied in early trade on April 7 after upbeat March-quarter business updates signalled robust demand despite elevated gold prices.

Among the key movers, Kalyan Jewellers rose up to 3–4% in early trade before trimming gains, while PC Jeweller advanced as much as 5%, supported by strong revenue growth and improving balance sheet metrics, before paring some gains.

The rally follows solid operational performance reported by both companies for the March quarter (Q4FY26), reinforcing investor confidence in the sector’s growth trajectory.

Kalyan Jewellers posted a sharp 64% year-on-year jump in consolidated revenue, driven by strong same-store sales and sustained demand across markets. The company highlighted that both wedding and discretionary purchases remained resilient, even amid volatile gold prices, with same-store sales growth exceeding 45%.

On the other hand, PC Jeweller reported a 32% year-on-year rise in standalone revenue for the March quarter, capping a strong full-year performance. The company also indicated progress on deleveraging, reducing bank debt by around 23% during the quarter and reiterating its goal of becoming debt-free.

The broader sentiment around jewellery stocks has been buoyant, with investors betting on continued demand momentum led by India’s wedding season and festive buying. Analysts note that organised players are benefiting from structural tailwinds such as market share gains from unorganisedjewellers and rising preference for branded jewellery.

Additionally, companies remain optimistic about near-term demand, pointing to encouraging advance bookings for occasions such as Akshaya Tritiya and the summer wedding season.

Despite volatility in gold prices, the sector has demonstrated resilience, with strong topline growth and improving operating leverage helping stocks outperform even in a weak broader market.

Going ahead, investors will closely track festive demand trends, gold price movements, and margin performance—but for now, jewellery stocks appear to be enjoying a well-earned sparkle on Dalal Street.

Source:

•  https://www.nseindia.com/
• https://www.nseindia.com/get-quote/equity/KALYANKJIL/Kalyan-Jewellers-India-Limited
• https://www.nseindia.com/get-quote/equity/PCJEWELLER/PC-Jeweller-Limited