Kalyan Jewellers shares fell 5% to an intraday low of ₹562.70 on Wednesday, extending a sharp correction that has erased 11% of the stock’s value over the past four trading days.
The sell-off accelerated after the company reported its June quarter results, which missed market expectations despite strong top-line growth.
While Kalyan Jewellers reported a 32% year-on-year increase in net profit to ₹348 crore, the gain was driven primarily by a 46% surge in revenue to ₹10,589 crore.
The market’s reaction highlights a shift in investor sentiment from revenue growth to profitability quality.
While Kalyan Jewellers reported a 32% year-on-year increase in net profit to ₹348 crore, the gain was driven primarily by a 46% surge in revenue to ₹10,589 crore.
However, this volume growth came at the cost of contracting gross and EBITDA margins, a trend that has spooked traders who had previously rewarded the stock for its rapid expansion.
This downturn follows a volatile week for the Indian jeweler.