KALAMANDIR Q2 FY27 Guidance vs Delivery (KALAMANDIR Management Mirror)

H1 FY27 Revenue at Rs 809 Crore Trails Target; Full-Year Guidance Reaffirmed at Rs 1,850-1,900 Crore in Jun'26 Qtr

For Q2 FY27, revenue stood at Rs 434 crore (down 2.3% YoY) with SSSG declining 10.6%, bringing H1 FY27 revenue to Rs 809 crore with a 9.2% SSSG decline as reported in the Sep'26 Qtr results. Against the FY27 guidance of 12% to 15% revenue growth and 2% to 4% SSSG improvement initially guided in the Mar'26 Qtr and reaffirmed in the Jun'26 Qtr, the H1 outcome fell short of the required run-rate due to subdued consumption and a shifted festive calendar. Looking ahead, management reaffirmed its full-year FY27 revenue target of Rs 1,850 crore to Rs 1,900 crore to deliver double-digit growth, expecting double-digit SSSG in H2 FY27 to achieve an overall annual SSSG of around 5%, supported by the Dussehra shift into October and an active wedding calendar.