Editor’s Note
This article highlights a positive trend in jewellery stocks following strong Q3 business updates from key players. While festive demand and expansion are driving growth, investors should note the potential headwind of elevated gold prices.
Jewellery stocks witnessed a surge following the business updates for the third quarter of the financial year 2025-26. Senco Gold, Titan, and Kalyan Jewellers reported strong growth. Festive demand and store expansion boosted investor confidence, although the impact of high gold prices was also observed.
As the market opened, Senco Gold shares were at the forefront. Senco Gold’s stock jumped nearly 14% to reach an intraday high of ₹368.85. Meanwhile, Titan’s shares also showed strength, rising 4% to hit a new 52-week high of ₹4,285 on the BSE. Kalyan Jewellers’ stock also climbed 2.6% to ₹513.65.
All three companies acknowledged that the sharp spike in gold prices had a slight impact on volume, but despite this, festive and wedding demand kept sales robust. This is why the business updates excited investors.
Senco Gold recorded a robust 51% year-on-year growth in Q3. According to the company, its revenue for the trailing twelve months (TTM) has reached nearly ₹8,000 crore.
Titan’s jewellery business recorded 41% growth during Q3. The company reported that an increase in the average selling price (ASP) supported revenue, while the number of buyers remained almost stable. Gold coin sales nearly doubled, while studded jewellery delivered its best performance in FY26 so far. Like-for-like (LFL) store sales growth across all jewellery retail formats remained around the low-30s. Overall, Titan’s consumer business revenue grew by 40%, with 47 new stores added during the quarter.
Kalyan Jewellers described Q3 as “very encouraging.” The company’s consolidated revenue grew 42% year-on-year. Demand remained strong even after Diwali, despite fluctuations in gold prices. Same-store sales growth was around 27%, and international revenue grew by 36%. During the quarter, 21 new Kalyan showrooms in India, one showroom in the UK, and 14 Candere stores were launched, bringing the total number of showrooms worldwide to 469.
Festive demand and strong brand positioning delivered excellent quarterly results for jewellery companies. Senco Gold, Titan, and Kalyan Jewellers have assured investors that growth will continue in the coming months.