Aniket PujariStocks to buy after Q3 results 2026: Kalyan Jewellers’ share price witnessed value buying on Friday after trading at discounted levels in the early morning session. This could happen after the announcement of Kalyan Jewellers’ results for the October to December 2026 quarter. The jewellery brand posted robust numbers for Q3FY26. Net profit surged 90% YoY to ₹416.2 crore, compared with ₹218.8 crore in the corresponding period last year. Revenue from operations grew 42% YoY to ₹10,343 crore, up from ₹7,278 crore a year earlier.
Kalyan Jewellers’ Q3 results 2026 review
Speaking on the Kalyan Jewellers’ Q3 results 2026, Seema Srivastava, Senior Research Analyst at SMC Global Securities, said, “Kalyan Jewellers’ Q3 FY26 performance reflects a business that has clearly moved into a strong, scalable growth phase, combining sharp revenue momentum with meaningful margin expansion. Consolidated revenue growth of 42% YoY and 32% QoQ underscores robust demand, driven by healthy same-store sales growth and rapid showroom expansion. More importantly, profitability scaled faster than topline, with EBITDA rising 75% YoY and margins expanding to 7.3%, highlighting operating leverage and improving mix. The rising contribution of studded jewellery and the increasing share of franchised (FOCO) stores—now over half of the India network—are structurally positive, supporting both gross margins and return ratios.”
The SMC Global Securities expert said that India remains the core growth engine, delivering a strong SSSG of 27% and outsized profit growth, while the Middle East business continues to add stability with consistent growth and improving PAT despite a competitive environment. Even after absorbing a one-time labour code provision, PBT and PAT growth of around 90% YoY points to the underlying strength of the franchise.
“Balance sheet metrics have also improved materially, with lower leverage and healthy ROCE and ROE, reflecting disciplined capital allocation and strong cash generation. The Candere segment, though still relatively small, adds long-term optionality through omnichannel expansion and brand investments. Overall, Kalyan Jewellers is demonstrating a rare combination of scale-led growth, improving profitability, and balance sheet strength, positioning it well for sustained compounding over the medium to long term, provided gold price volatility and execution risks remain well managed,” Seema Srivastava of SMC Global Securities added.
Kalyan Jewellers’ share: Should you buy after Q3 results?
Advising investors to wait for some correction in the Kalyan Jewellers’ shares, Anshul Jain, Head of Research at Lakshmishree, said, “Kalyan Jewellers’ share price has decisively broken below its 242-day base near ₹450, confirming structural weakness and a shift into distribution. The next meaningful demand zone lies in the ₹300 to ₹320 band, which aligns with the buying climax target and marks a high-probability area for a technical bounce. Until that zone is approached, risk–reward remains skewed against longs. Any interim pullbacks toward broken supports are likely to face supply, reinforcing a clear sell-on-rallies bias while the trend resets.”
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