July 7 : The recently concluded quarter has been a very satisfying one, recording consolidated revenue growth of approximately 38percentage when compared to the same period in the previous financial year.
We saw revenue growth in excess of 38 percentage for our India operations during Q1 FY2027 as compared to Q1 FY2026, led by robust operating momentum on the ground with healthy same-store-sales-growth across all the key markets in the country despite the 28-day Adhik Maas period falling fully in the recently concluded quarter. Adhik Maas is a once in a 3-year phenomenon during which wedding related demand tends to take a pause in certain parts of the country. The recently concluded quarter recorded same-store-sales-growth of approximately 28 percentage .
We launched our ‘Shine with India’ gold recirculation campaign during the second half of May with the larger objective of increasing the share of recycled gold and thereby reducing dependence on imported gold. The initiative has been well received by our customers helping us increase the share of recycled gold as a percentage of revenue to over 46percentage during Q1 FY 2027. For the month of June, the share of recycled gold as a percentage of revenue was in excess of 55percentage .
Our international operations recorded revenue growth of approximately 35percentage 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 30percentage for Q1 FY2027 as compared to Q1 FY2026 driven predominantly by same-store-sales-growth despite the impact on footfall during the month of April due to the geopolitical tensions in the region.
International markets contributed approximately 14 percentage to our consolidated revenue for the recently concluded quarter.
Our digital-first jewellery platform, Candere, recorded a revenue growth of approximately 112percentage during the recently concluded quarter as compared to the same period during the last year.
During the recently concluded quarter, we launched 12 Kalyan showrooms and 5 Candere showrooms in India.