India’s jewellery retail sector delivered strong growth in the first quarter of FY26, driven by festive demand, expanding digital channels, and store additions across key players.
SEBI-registered research firm Financial Sarthis has released a comparative breakdown of jewellery players’ Q1 FY26 performance, evaluating key metrics such as revenue growth, same-store sales growth (SSSG), and digital traction.
Kalyan Jewellers (NSE:KALN)
Kalyan Jewellers posted a 31% year-on-year (YoY) revenue increase in India, with SSSG at around 18%, aided by festive demand during Akshaya Tritiya and the wedding season.
Middle East operations rose 26% YoY, while digital arm Candere rebounded with a 67% increase.
The total showroom count stood at 406 across India, the Middle East, USA, and Candere’s online presence.
PN Gadgil Jewellers
PN Gadgil Jewellers saw a 19.4% YoY uptick in retail sales (70.3% of total revenue), with SSSG at 8%.
E-commerce revenue surged 126%, franchisee sales jumped 109%, and the studded jewellery ratio rose to 10% of retail sales.
The company reported 55 stores across formats.
Senco Gold
Senco Gold recorded a 24% YoY rise in retail revenue, with SSSG at 19%.
Diamond sales volumes climbed 35% in Q1, while old gold exchange contributed 40% of total sales.
Senco added nine new stores in the quarter, bringing its total to 179 jewellery outlets.
