Top Jewellery Stocks Compared: Titan vs Kalyan Jewellers vs Senco Gold vs Sky Gold vs PN Gadgil Jewellers on Price, Valuation, Q2 FY27 Results and Risks

Previous close: Titan Rs 4,990.50, Kalyan Jewellers Rs 592.00, Senco Gold Rs 322.30, Sky Gold Rs 961.15, PN Gadgil Jewellers Rs 605.85.

Jewellery stocks compared here means Titan, Kalyan Jewellers, Senco Gold, Sky Gold and PN Gadgil Jewellers on one page, checked on previous close, market value, valuation and the latest quarterly numbers. The group mixes a national brand house, large retail chains, a regional jeweller and a manufacturer that supplies other retailers, so a side-by-side look shows how differently each one earns.

Titan, Sky Gold and PN Gadgil Jewellers have filed their September 2026 quarter, so their results below are Q2 FY27. Kalyan Jewellers and Senco Gold are shown on their June 2026 quarter, which is Q1 FY27. Jewellery demand follows gold prices and the festive and wedding calendar, so a glance at the Nifty 50 page and the Sensex page before you read the tables gives useful backdrop.

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Jewellery Stocks Compared: Brands, Chains and a Manufacturer

The jewellery stocks compared here are Titan, Kalyan Jewellers, Senco Gold, Sky Gold and PN Gadgil Jewellers. Titan is the largest by market capitalisation at Rs 4,44,337 crore. Previous closes run from Rs 322.30 for Senco Gold to Rs 4,990.50 for Titan, which is why a side-by-side look at value rather than price is more useful. This jewellery stocks compared list is the base for every table that follows.

Stock	Previous close (Rs)	Market cap (Rs crore)
Titan	4,990.50	4,44,337
Kalyan Jewellers	592.00	63,101
Senco Gold	322.30	5,275
Sky Gold	961.15	14,560
PN Gadgil Jewellers	605.85	9,004

A quick look at the business behind each ticker puts the numbers in context. Titan is the Tata group company behind Tanishq, Titan watches, eyecare and other consumer brands, while Kalyan Jewellers is a large jewellery retailer with showrooms across India and the Middle East. Senco Gold is a jewellery maker and retailer with a strong base in eastern India, and Sky Gold makes gold jewellery mainly for retail chains and sells it under its own brands as well. To compare jewellery stocks properly, line up price to earnings, return on equity and debt to equity before forming a view.

Rounding out the group, PN Gadgil Jewellers is a Maharashtra-based jeweller with a growing chain of showrooms. A fair jewellery stock comparison looks at what each company actually earns from, not only at the share price. National brands, regional chains and manufacturers belong in separate mental boxes whenever you compare jewellery stocks fairly.

Jewellery Stocks Valuation: Multiples, Returns and Payouts

Senco Gold trades at the lowest price to earnings ratio in this group at 9.24. Titan reports the highest return on equity at 38.51%. Senco Gold has the lowest price to book value at 2.10. These jewellery stocks valuation readings come from the previous close and the latest reported financials. That is the idea behind this jewellery stocks compared table: price to earnings and return on equity sit side by side so a high or low reading stands out at once.

Stock	Price to earnings	Price to book	ROE (%)	Dividend yield (%)	Debt to equity
Titan	63.18	24.33	38.51	0.30	1.51
Kalyan Jewellers	43.99	10.00	21.41	0.41	0.97
Senco Gold	9.24	2.10	22.85	0.54	1.07
Sky Gold	35.91	10.36	28.17		0.69
PN Gadgil Jewellers	18.46	3.14	17.02		0.75

Jewellery stocks vary widely on price to earnings, with a large branded retailer usually trading at a premium to regional chains and manufacturers. Return on equity and debt to equity help you judge whether a premium is earned, since gold inventory is often funded with borrowings. Earnings per share and book value per share are the building blocks behind price to earnings and price to book, so a glance at both in each filing is time well spent. A simple jewellery stock comparison like this one is only as useful as the context behind it, which is why debt to equity is worth checking as well.

In this group, price to earnings runs from 9.24 for Senco Gold to 63.18 for Titan. Senco Gold offers the highest dividend yield at 0.54%. For reference, the industry price to earnings sits at 44.59, so you can see at a glance which stocks are rated above or below the group. The industry price to earnings is a handy anchor: a jewellery stock above it is priced for faster growth, and one below it is priced for steadier earnings. A well-built jewellery stock comparison also notes that gold prices can move revenue between quarters. Run the same jewellery stock comparison on your own watchlist and the pattern in these numbers will be easier to spot. Whenever you compare jewellery stocks, note whether a premium is backed by returns or only by size.

Jewellery Stocks Q2 FY27 Results: Revenue and Profit Check

Three of the five jewellery stocks compared have filed Q2 FY27 numbers. Sky Gold posted the fastest revenue growth at 61.2% year on year. Titan showed the sharpest rise in net profit at 113.7%. Read revenue first and quarterly profit second, since the two together show how much of the growth reaches shareholders. The others are shown on their latest reported quarter, so read each one for what it is. Treat the Q2 FY27 numbers in this jewellery stocks compared review as a snapshot of one quarter, not a verdict on any jeweller.

Stock	Q2 FY27 revenue (Rs crore)	Q2 FY26 revenue (Rs crore)	Q2 FY27 net profit (Rs crore)	Q2 FY26 net profit (Rs crore)
Titan	21,430	18,837	2,393	1,120
Sky Gold	2,405	1,492	129.3	67.0
PN Gadgil Jewellers	2,684	2,213	121.1	79.3

Titan Results Snapshot

Titan’s Q2 FY27 top line stood at Rs 21,430 crore, versus Rs 18,837 crore in Q2 FY26, a rise of 13.8%. Net profit rose 113.7% to Rs 2,393 crore from Rs 1,120 crore. Operating margin expanded to 18.7% from 12.1% a year ago. Earnings per share for the quarter rose to Rs 26.96 from Rs 12.62.

Kalyan Jewellers Results Snapshot

Kalyan Jewellers has reported only its Q1 FY27 numbers so far, with revenue of Rs 10,645 crore for the June 2026 quarter. Its Q2 FY27 filing is yet to appear, so read the exchange disclosure when it lands before you set it against the others.

Senco Gold Results Snapshot

Senco Gold has reported only its Q1 FY27 numbers so far, with revenue of Rs 3,071 crore for the June 2026 quarter. Its Q2 FY27 filing is yet to appear, so read the exchange disclosure when it lands before you set it against the others.

Sky Gold Results Snapshot

Sky Gold’s Q2 FY27 top line stood at Rs 2,405 crore, versus Rs 1,492 crore in Q2 FY26, a rise of 61.2%. Net profit rose 93.1% to Rs 129.3 crore from Rs 67.0 crore. Operating margin expanded to 8.2% from 7.3% a year ago. Earnings per share for the quarter rose to Rs 8.25 from Rs 4.38.

PN Gadgil Jewellers Results Snapshot

PN Gadgil Jewellers reported Q2 FY27 revenue of Rs 2,684 crore, compared with Rs 2,213 crore a year earlier, a rise of 21.2%. Net profit rose 52.7% to Rs 121.1 crore from Rs 79.3 crore. Operating margin expanded to 8.4% from 6.6% a year ago. Earnings per share for the quarter rose to Rs 8.69 from Rs 5.84.

Jewellery results depend on gold prices, store additions and the festive and wedding calendar, so profit can look different from revenue in a single quarter. That is why a jewellery stock comparison works best when revenue and profit are read together across two or three quarters. Used this way, a jewellery stocks compared review becomes a map of the sector rather than a price list. When you compare jewellery stocks after each result season, track how debt to equity changes from one quarter to the next. A jewellery stock comparison built on one quarter of data is a starting point, and the next set of results will update it.

Jewellery Stocks Compared Two at a Time: Three Pairings

Readers rarely want a five-way table and nothing else, so here are three head-to-head reads drawn from the same data. Use them as a quick way to compare jewellery stocks two at a time.

Titan vs Kalyan Jewellers

Titan and Kalyan Jewellers are two of the best-known jewellery retailers, one backed by the Tata group and the other with a large store network across India and the Middle East. Titan is about 7.0 times the size of Kalyan Jewellers by market capitalisation, at Rs 4,44,337 crore against Rs 63,101 crore. Titan reports the higher return on equity, at 38.51% against 21.41% for Kalyan Jewellers. For dividend income, Kalyan Jewellers offers 0.41% against 0.30% at Titan. A diversified brand house and a jewellery-focused chain are priced differently, so read the business mix before you read the ratio.

Senco Gold vs PN Gadgil Jewellers

Senco Gold and PN Gadgil Jewellers are regional jewellers with strong local brands, one rooted in eastern India and the other in Maharashtra. PN Gadgil Jewellers is about 1.7 times the size of Senco Gold by market capitalisation, at Rs 9,004 crore against Rs 5,275 crore. On price to earnings, Senco Gold carries the lower multiple at 9.24 against 18.46 for PN Gadgil Jewellers. Senco Gold reports the higher return on equity, at 22.85% against 17.02% for PN Gadgil Jewellers. Both are adding showrooms, so read store growth next to valuation before you judge either multiple.

Sky Gold vs Titan

Sky Gold makes jewellery for other retailers, while Titan sells under its own brands, so the two sit at different points of the jewellery chain. On price to earnings, Sky Gold carries the lower multiple at 35.91 against 63.18 for Titan. Titan reports the higher return on equity, at 38.51% against 28.17% for Sky Gold. In Q2 FY27, Sky Gold grew revenue faster, at 61.2% year on year against 13.8% for Titan. A manufacturer and a retailer earn on different margins, so read the business model before you read the ratio.

Best Jewellery Stocks for Each Type of Investor

Which of the best jewellery stocks is right for you depends on your priorities, so the table below lists the leader on each measure instead of crowning one name. Any jewellery stocks compared table can mislead if you stop at one row, because each jeweller leads on a different measure.

If you care most about	Start your research with	The number
Lowest price to earnings	Senco Gold	9.24
Highest return on equity	Titan	38.51%
Highest dividend yield	Senco Gold	0.54%
Lowest price to book value	Senco Gold	2.10
Largest by market capitalisation	Titan	Rs 4,44,337 crore
Fastest Q2 FY27 revenue growth	Sky Gold	61.2%
Sharpest Q2 FY27 net profit rise	Titan	113.7%

No single name tops every row, which is exactly why a jewellery stock comparison helps. Scale, returns, payouts and valuation each point to a different company, so decide what matters most to you before you rank the numbers.

What Is Driving Demand for Jewellery Right Now?

Jewellery remains a core part of weddings and festivals, and buyers are shifting from local jewellers towards branded, hallmarked and organised retailers. That shift helps chains with trusted brands and large store networks win a bigger share. Knowing what moves gold prices and the festive calendar helps you compare jewellery stocks with the right questions in mind.

Store additions, gold prices and same-store growth decide revenue, while making charges and product mix decide margin. Manufacturers also gain when retailers outsource more of their jewellery. A good jewellery stocks compared routine therefore tracks gold prices, store additions, same-store growth and gross margin.

Risks to Weigh When You Compare Jewellery Stocks

Jewellery stocks follow gold prices, festive and wedding demand and import duty changes. Gold inventory is also funded with borrowings, so interest costs matter. Read each filing for store growth, margin and inventory commentary before you compare them. Every jewellery stock comparison has blind spots, and for this group the biggest is gold prices and the festive calendar. A thoughtful jewellery stocks compared review keeps these risks next to the numbers instead of in a footnote.

Because gold prices, store additions, same-store growth and gross margin drive these businesses, the most useful habit is to read the management commentary that comes with every result and note what is expected for the next quarter. Read together, the risk notes and the tables make this jewellery stocks compared guide a balanced starting point.

How to Compare Jewellery Stocks and Build a Shortlist

Start by deciding whether you want a national brand, a regional chain or a manufacturer, because each responds to different triggers. Retail names reward readers who track store additions and same-store growth, while manufacturers reward those who track order flow from retailers. Done step by step, this jewellery stocks compared routine becomes repeatable rather than a one-off exercise.

Then check valuation and debt, because gold inventory is funded with borrowings and premium multiples leave less room for slips. Spreading your attention across one national brand and one regional name is a simple way to see both sides of the sector. Keep the shortlist of best jewellery stocks short enough that you can actually follow each company’s quarterly results. When you compare jewellery stocks again after new results, update only the rows that changed instead of starting over.

The Univest stock screener lets you filter jewellery stocks by market capitalisation, return on equity and price to earnings, and the app keeps live prices a tap away through the trading day. Come back to this jewellery stocks compared page after the next set of results to see which numbers have moved.

Check the Univest Screener for live jewellery stock data

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Conclusion: Jewellery Stocks Compared at a Glance

This jewellery stocks compared review on price, valuation and Q2 FY27 results shows that no single name wins every measure. Titan leads on both size and return on equity, though the others bring strengths of their own. Treat the jewellery stocks Q2 FY27 results and jewellery stocks valuation tables as a research starting point, then check the filings and speak to a SEBI-registered advisor before you invest. If you plan to compare jewellery stocks again next quarter, the same checklist of price to earnings, return on equity and debt to equity will work.

Frequently Asked Questions on Jewellery Stocks Compared

Which are the top jewellery stocks compared in this article?

Ans. The jewellery stocks compared in this article are Titan, Kalyan Jewellers, Senco Gold, Sky Gold and PN Gadgil Jewellers. They are checked on previous close, market capitalisation, price to earnings, price to book, return on equity and the latest quarterly results, so the group can be read in one sitting before you go deeper into any single company.

Which jewellery stock has the highest market capitalisation?

Ans. Among the five names, Titan has the highest market capitalisation at Rs 4,44,337 crore. Kalyan Jewellers follows at Rs 63,101 crore. Market value changes with every price move, which means the ranking can shuffle, so look at the latest figure on the exchange.

Which of these jewellery stocks has the lowest price to earnings ratio?

Ans. On jewellery stocks valuation, Senco Gold has the lowest price to earnings ratio among these jewellery stocks at 9.24, based on the latest reported earnings. Titan sits at the other end at 63.18. Treat the lowest multiple as a place to start asking questions, because growth and business quality explain why investors pay more or less.

Which jewellery stock has the highest return on equity?

Ans. Titan reports the highest return on equity in this group at 38.51%. In plain terms, return on equity tells you how hard shareholder funds are working. Read it across a few years and alongside debt, since a high ratio built on borrowing carries more risk.

How did jewellery stocks perform in Q2 FY27 results?

Ans. Three of the five names have filed Q2 FY27 numbers in our data. Sky Gold recorded the fastest revenue growth at 61.2% year on year. Titan showed the sharpest net profit rise at 113.7%. For jewellery stocks Q2 FY27 results, the others are covered on their latest reported quarter, and each filing on the exchange website carries the full detail.

What are the main risks when you compare jewellery stocks?

Ans. Jewellery stocks follow gold prices, festive and wedding demand and import duty changes. Gold inventory is also funded with borrowings, so interest costs matter. Read each filing for store growth, margin and inventory commentary before you compare them. Keep an eye on gold prices, store additions, same-store growth and gross margin.

Which metrics matter most when you compare jewellery stocks?

Ans. Same-store sales growth, store additions, gross margin and gold prices matter most for operating performance. Price to earnings, return on equity and debt to equity show how the market values each company and how gold inventory is funded. Read each company’s filing for these along with the numbers in this article.

Which is the best jewellery stock to buy among these five?

Ans. The best jewellery stock depends on whether you value a national brand, a regional chain or a manufacturing model, because the five names differ on all three. On the numbers in this article, Titan has the largest market capitalisation as well as the highest return on equity; Senco Gold has the lowest price to earnings as well as the highest dividend yield. There is no clear winner across every measure, and nothing here is a recommendation. Let the tables narrow your list, confirm the numbers in the filings, and take advice from a SEBI-registered advisor before acting.