PC Jeweller and Kalyan Jewellers Report Strong Q2 Results

Jewellery companies PC Jeweller and Kalyan Jewellers posted strong financial results for the September quarter, driven by higher revenue and profits. PC Jeweller reported a 58 percent rise in consolidated net profit to ₹331 crore for Q2 FY27. Its revenue from operations grew by 27.8 percent to ₹1,054 crore, while EBITDA increased by 74.1 percent to ₹309 crore. The company also announced that it has fully repaid all outstanding debt to its bank lenders and received no-dues letters, leading to the release of all mortgaged assets and the return of original title deeds. For the first half of FY27, PC Jeweller's revenue increased by 25 percent to ₹1,932 crore. Meanwhile, Kalyan Jewellers reported a 64 percent jump in consolidated net profit to ₹427 crore for the same quarter. Its revenue from operations rose by 32 percent to ₹10,323 crore. For the first half of the financial year, Kalyan's net profit grew by 48 percent to ₹776 crore, and revenue increased by 38 percent to ₹20,912 crore. Executive Director Ramesh Kalyanaraman noted that the festive quarter started well with growth during Navratri and Dhanteras, and the company expects a strong end to the quarter during the wedding season.

Technical Outlook

Market analyst Mayank Jain from PhonePe Invest stated that both stocks have different near-term technical setups. Kalyan Jewellers shares traded at ₹667.30 after a 9.21 percent increase, clearing major moving averages and showing potential to reach a target zone of ₹750 to ₹790. However, the stock could face consolidation if it encounters selling pressure, with moving average support near ₹500 to ₹545. In contrast, PC Jeweller settled at ₹15.89 after a 4.54 percent gain. The stock needs a sustained close above its 20-day moving average of ₹16.10 to regain upward momentum toward ₹19.50 and ₹20.50, while support levels sit near ₹14 and ₹11.50 to ₹12.

Context

Indian jewellery retailers often experience higher sales volumes during the September quarter due to major festivals like Navratri and Dhanteras, followed closely by the winter wedding season. Strong quarterly earnings and the clearance of company debt can improve investor confidence, though technical indicators help traders track short-term price movements and potential resistance levels.