Even though gold prices have touched a high these days, Indians’ love for the yellow metal has not diminished. The glow of this demand can be clearly seen in the stock market also. Generally, the first quarter of any financial year (April to June) is considered slow in terms of jewelery purchases. Despite this, the latest updates from the companies are telling a completely new story. Due to huge demand, there is tremendous growth in the business of jewelery companies. This boom is not just a coincidence, but behind it is the strong expansion and excellent profits of these companies. According to the report of Equitymaster, there are four major jewelery stocks whose business model growth plan looks very good. Let us understand in detail which companies are increasing their dominance in the market.
PNG Jewelers dominates the country beyond Maharashtra
PNG Jewellers, started in the year 1832, is today counted among the oldest and trusted retailers of India. After starting from Pune, this brand made deep inroads in Maharashtra and is now rapidly expanding across the country. In the last three years, its sales have increased by 44.4 percent and net profit by 46.4 percent at an annual rate (CAGR). In the fourth quarter of the financial year 2026 (FY26), the company earned a bumper revenue of Rs 35,443 million, which was only Rs 15,882 million in the same quarter last year. During the same period, net profit also jumped from Rs 620 million to Rs 903 million. With the opening of 25 new stores throughout the year, the company will have a total of 78 stores by March 2026. Management estimates that they will achieve revenue of Rs 135 billion in FY27.
Kalyan Jewelers is creating a new record by reducing debt
Kalyan Jewelers is currently one of the top organized jewelery chains in India. From India to the Middle East, the company has created its wide network. Their digital platform ‘Candere’ is also rapidly gaining its place. The company has performed brilliantly in the last three years, registering a growth of 32.3 percent in sales and 47.2 percent growth in profits. The total revenue of the company crossed Rs 357 billion in FY26. The most important thing is that this year the company has reduced its debt in India by Rs 3,600 million, which is a very positive sign from the business point of view. Along with opening its first store in Britain, the company has opened 129 new showrooms. In the coming FY27, the company is eyeing to open 150 new showrooms and increase same-store sales growth.
With Tata’s confidence, Titan dominates the foreign market.
Tata Group’s Titan company needs no introduction. Titan is ruling the market on the basis of strong brands like Tanishq, Mia and Zoya. In the last three years, the company’s sales have increased by 29.2 percent and profit by 15.7 percent. In FY26, the company recorded a huge income of Rs 761 billion, while the net profit was Rs 51 billion, which was Rs 33.3 billion in FY25. The company is now aggressively expanding not only in India but also on foreign soil. Using the network of Damas, the company is opening select Tanishq stores in countries like UAE, Saudi Arabia and Qatar. The management expects to see a strong growth of 15 to 20 percent in jewelery sales in FY27.
Senco Gold is flying big from small towns
Another big company which is presenting its strong claim in the market is Senco Gold. In the last three years, the company has registered an annual growth of 21.4 percent in its sales and 7.3 percent in profits. The fourth quarter of FY26 was very good for the company, with revenue of Rs 19.97 billion and profit of Rs 1,570 million. As part of the expansion strategy, the company is now moving away from metros and focusing directly on Tier-2, Tier-3 and Tier-4 cities. The company is rapidly opening its stores in new areas like Rajasthan, Central Maharashtra and Western Uttar Pradesh, due to which great growth is expected in the future.
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