This follows a sharp 27.31% drop over the past seven trading sessions, culminating on Monday, 13 January 2025. The stock did see a slight recovery on 14 January, rebounding 4.22%. The stock has corrected almost 31% from its record high of Rs 794.60 hits on 2 January 2025.

Kalyan Jewellers on 14 January held a investors call to justify the falling share price. The company emphasized that its strong performance, including a 39% year-over-year growth in sales in Q3FY25 and an upward revision of its store expansion plans, does not reflect the current market sentiment. The Q3 quarter recorded healthy same-store-sales-growth of approximately 24%.

It launched 24 Kalyan showrooms in India during the recently concluded quarter and plan to roll-out plan of 80 Kalyan showrooms and 50 Candere showrooms in India for FY 2025. For FY 2026, it has drawn up plans to launch 170 showrooms across Kalyan and Candere formats.

The company confirmed that there is no FIR (First Information Report) filed against any of its promoters. The company acknowledged inventory losses, stating that the majority of these losses were incurred in the second quarter of the fiscal year. Kalyan Jewellers reiterated that its business operations are sound and that store expansion plans are progressing as anticipated. The company attributed the recent share price decline to market factors and emphasized that it has no direct influence on these fluctuations.

The company's board will consider Q3 results on 30 January 2025.

Headquartered in Kerala, Kalyan Jewellers is one the largest jewellery retailers in India with a presence in the Middle East.

The company's consolidated net profit declined 3.43% to Rs 130.61 crore in Q2 FY25 as compared with Rs 135.25 crore posted in Q2 FY24. Revenue from operations increased 37.4% YoY to Rs 6,065.48 crore in the quarter ended 30 September 2024.

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