Jewellery retailers post 22-28 per cent growth in Q2FY27 despite festive calendar shift

Leading listed jewellery retailers reported revenue growth of 2228 per cent in the September quarter supported by healthy consumer demand strong samestore sales and increased spending by customers despite the shift of Navratri festivities to the December quarter this yearCompanies such as P N Gadgil Jewellers Titan Kalyan Jewellers and PC Jeweller reported doubledigit yearonyear growth in their respective quarterly business updates to the bourses reflecting sustained demand for gold and studded jewellery amid a change in the festive calendar to the third quarter of FY27Kalyan Jewellers reported approximately 27 per cent revenue growth in its India operations in the second quarter of FY27 supported by around a 20 per cent rise in samestore sales Its international operations grew 18 per cent while its lifestyle jewellery brand Candere recorded a 64 per cent increase in revenueThe recently concluded quarter has been a very satisfying one recording consolidated revenue growth in excess of 26 per cent when compared to the same period in the previous financial year it saidThe company said its India business maintained strong operating momentum across key markets despite a high base in the yearago quarter when all nine days of Navratri fell within the September quarterP N Gadgil Jewellers also said it witnessed a healthy performance in Q2 FY27 with a revenue growth of 224 per cent yearonyearThe Retail segment grew 311 per cent YoY with robust samestore sales growth SSSG of 255 per cent YoY as the primary driver indicating that the growth was substantially organic in nature driven by deeper customer engagement at existing stores it saidThe companys franchise business grew 347 per cent while ecommerce revenue declined 836 per cent following a strategic shift away from lowmargin gold coin sales towards highermargin jewellery productsThe share of gold coin and bar sales in retail revenue normalised to 158 per cent compared with 233 per cent in the same quarter of the previous year The continued moderation in the lowermargin gold coin business coupled with the increasing contribution from retail and studded jewellery is driving a sustained improvement in the overall quality and profitability of the revenue mix it saidTitan which operates jewellery brands including Tanishq Mia Zoya beYon and CaratLane reported around 21 per cent growth in its jewellery portfolioStudded jewellery sales grew in the early thirties while plain gold jewellery registered approximately 20 per cent growth Investmentled demand for gold coins however declined by a high singledigit percentage from a high baseTitan said buyer growth was in the midsingle digits while average ticket sizes recorded doubledigit growth Its digitalfirst jewellery brand CaratLane continued to outperform posting 32 per cent growth during the quarterDelhibased PC Jeweller reported approximately 28 per cent growth in consolidated revenue citing healthy consumer demand and strong business momentumBacked by a healthy consumer demand the company continued to deliver a strong performance concluding Q2 FY27 with a consolidated revenue growth of approximately 28 per cent YoY reflecting a strong business momentum said PC Jeweller in its quarterly business updateThe quarterly updates come against the backdrop of a shift in the festive calendar with Navratri falling in October this year compared to September in 2025The shift is expected to move a larger portion of festive purchases into the December quarterThis story has been sourced from a third party syndicated feed agencies Midday accepts no responsibility or liability for its dependability trustworthiness reliability and data of the text Midday managementmiddaycom reserves the sole right to alter delete or remove without notice the content in its absolute discretion for any reason whatsoever