Strong festive retail momentum drove substantial earnings growth for both jewellery firms, highlighted by Kalyan Jewellers generating ₹10,323 crore in revenue and PC Jeweller reporting a 58% increase in net profit. PC Jeweller also strengthened its balance sheet by fully eliminating its outstanding bank consortium debt. However, technical analysis by Mayank Jain indicates that Kalyan Jewellers has broken above critical multi-period moving averages, whereas PC Jeweller remains stuck in a corrective consolidation phase below its 20-day moving average.
Key points
Kalyan Jewellers possesses technical upside potential toward the ₹750 to ₹790 range follo…: Kalyan Jewellers possesses technical upside potential toward the ₹750 to ₹790 range following moving average breakouts.
PC Jeweller must achieve a daily close above its 20-day moving average of ₹16.10 to exit…: PC Jeweller must achieve a daily close above its 20-day moving average of ₹16.10 to exit consolidation.
Clearing near-term resistance could open a path for PC Jeweller to test previous price hi…: Clearing near-term resistance could open a path for PC Jeweller to test previous price highs near ₹20.50.
Sources checked by our analysis pipeline: 1
Jewellery stocks PC Jeweller and Kalyan Jewellers have delivered strong September-quarter earnings, supported by robust revenue growth and higher profitability.
Both companies have also rewarded investors with substantial gains over the past five years, although their recent share price trends and technical setups differ.
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PC Jeweller reported a 58% year-on-year increase in consolidated net profit to ₹331 crore in Q2 FY27, compared with ₹210 crore in the corresponding quarter last year. Revenue from operations rose 27.8% to ₹1,054 crore from ₹825 crore, while earnings before interest, taxes, depreciation and amortisation (EBITDA) increased 74.1% to ₹309 crore from ₹178 crore.
The EBITDA margin expanded to 29.3% in the September quarter from 21.5% a year earlier. The company said it continued to deliver growth during the quarter, supported by sustained consumer demand.
For the first half of FY27, consolidated revenue increased 25% year on year to ₹1,932 crore, compared with ₹1,550 crore in H1 FY26.
In another significant development, PC Jeweller said it had fully repaid all outstanding debt to its consortium…
Market participants are observing downward momentum in the equity during the current trading session. However, the specific catalysts behind the negative movement have not yet been identified in the available information. Further details are needed to assess the overall impact on the company's valuation.
Investors are watching price movements closely as market activity impacts the company's valuation. Recent market dynamics are actively affecting trading sentiment for the firm today. This downward pressure marks a notable shift in equity performance for stakeholders.
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