The shares of Senco Gold and Kalyan Jewellers India jumped in trade on January 7 after the companies released strong business updates for the third quarter of the financial year 2026.
Senco Gold shares rallied 14 percent to Rs 368.4 apiece, while Kalyan Jewellers India shares jumped 7 percent to Rs 535 apiece.
Senco Gold Q3 update:
Senco Gold released its Q3 business update in the post market hours of January 6. The company recorded a 51 percent year-on-year (YoY) growth in the October-December quarter of the ongoing FY26. This takes the total growth to 31 percent in the first nine months of FY26 (April-December), after 6.5 percent growth in Q2 and 28 percent in Q1.
“Our TTM revenue has already reached ~₹8000 crore, reflecting consistent YoY growth, loyal customer base and brand positioning. The Q3 YoY growth includes retail business growth of ~49% and SSSG of ~39% growth. The 9-month topline growth of 31% includes SSSG of ~21% growth. This uplift was led by targeted festive campaigns, new design launches and intensive customer engagement during Dhanteras & Diwali, wedding buying and shift of demand of Q2 to the festive season. Diamond jewellery sales continued to maintain strong growth momentum in Q3 to ~36% YoY growth and 9-month growth of ~34%,” the firm said.
Kalyan Jewellers Q3 business update:
Kalyan Jewellers reported a consolidated revenue growth of approximately 42 percent YoY during Q3 FY26. The firm’s India operations witnessed revenue growth of nearly 42 percent during Q3 FY26 as against Q3 FY25, driven primarily by strong festive demand.
“Demand during the period after Diwali also continued to remain robust despite volatility in gold prices. Growth was broad-based across plain gold and studded categories. The quarter recorded healthy same-store-sales-growth of approximately 27%,” the company said.
Kalyan’s international operations recorded revenue growth of approximately 36 percent for the recently concluded quarter when compared to the same period during the previous financial year. “Within the Middle East specifically, we witnessed revenue growth of approximately 28% for Q3 FY2026 as compared to Q3 FY2025 driven majorly by same-store-sales-growth. International markets contributed approximately 11% to our consolidated revenue for the recently concluded quarter,” the firm added.
Spot gold prices rose nearly 12 percent during the quarter, to close out a calendar year in which the precious metal clocked its steepest rise since 1979, driven by geopolitical uncertainties, rate cuts and robust central bank buying.
“Higher prices did have an impact on volumes, but not on (overall) spending,” said Dharmesh Kant, head of equity research at Cholamandalam Securities. Kant added that jewellery companies also benefitted from higher cash in the hands of people as a result of fiscal policies like GST cuts and income tax relief, as well as low inflation.