Kalyan Jewellers India Ltd
Kalyan Jewellers India Ltd. designs manufacture and sells a range of gold, studded and other jewellery products across various price points. It is one of the largest jewellery retailers in India based on revenue as of FY20. The co. was founded by the current Chairman, MD and Promoter, Mr T.S. Kalyanaraman [1]
- Market Cap ₹ 52,443 Cr.
- Current Price ₹ 508
- High / Low ₹ 795 / 336
- Stock P/E 82.6
- Book Value ₹ 42.1
- Dividend Yield 0.24 %
- ROCE 16.3 %
- ROE 14.1 %
- Face Value ₹ 10.0
Pros
- Company is expected to give good quarter
- Company has delivered good profit growth of 65.3% CAGR over last 5 years
- Company's working capital requirements have reduced from 110 days to 82.5 days
Cons
- Stock is trading at 12.1 times its book value
- Company has a low return on equity of 11.2% over last 3 years.
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Sector: Diamond, Gems and Jewellery Industry: Diamond Cutting / Jewellery
Part of BSE 500 Nifty 200 BSE Allcap BSE MidCap Nifty Midcap 100
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|
7,956 | 7,541 | 8,297 | 7,448 | 7,846 | 7,326 | 9,056 | 11,584 | 15,783 | 20,182 | |
7,738 | 7,063 | 7,764 | 7,106 | 7,192 | 6,686 | 8,346 | 10,627 | 14,640 | 18,965 | |
Operating Profit | 218 | 479 | 533 | 342 | 654 | 640 | 710 | 957 | 1,143 | 1,218 |
OPM % | 3% | 6% | 6% | 5% | 8% | 9% | 8% | 8% | 7% | 6% |
143 | 51 | 22 | 58 | 98 | 53 | 42 | 9 | 76 | 113 | |
Interest | 295 | 314 | 253 | 245 | 331 | 331 | 282 | 258 | 269 | 239 |
Depreciation | 59 | 78 | 82 | 91 | 186 | 174 | 181 | 183 | 206 | 233 |
Profit before tax | 7 | 139 | 220 | 64 | 235 | 187 | 290 | 525 | 744 | 859 |
Tax % | -240% | 18% | 37% | 30% | 34% | 26% | 26% | 26% | 26% | |
25 | 114 | 138 | 45 | 156 | 138 | 214 | 390 | 554 | 635 | |
EPS in Rs | 0.35 | 1.36 | 1.64 | 0.54 | 1.86 | 1.34 | 2.08 | 3.78 | 5.38 | 6.16 |
Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 13% | 22% |
Compounded Sales Growth | |
---|---|
10 Years: | % |
5 Years: | 16% |
3 Years: | 29% |
TTM: | 37% |
Compounded Profit Growth | |
---|---|
10 Years: | % |
5 Years: | 65% |
3 Years: | 59% |
TTM: | 24% |
Stock Price CAGR | |
---|---|
10 Years: | % |
5 Years: | % |
3 Years: | 103% |
1 Year: | 25% |
Return on Equity | |
---|---|
10 Years: | % |
5 Years: | 10% |
3 Years: | 11% |
Last Year: | 14% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Sep 2024 | |
---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 704 | 839 | 839 | 839 | 839 | 1,030 | 1,030 | 1,030 | 1,030 | 1,031 |
Reserves | 612 | 642 | 1,120 | 1,167 | 1,199 | 1,995 | 2,234 | 2,637 | 3,137 | 3,314 |
2,365 | 2,537 | 1,767 | 2,783 | 2,671 | 2,547 | 2,385 | 2,415 | 2,151 | 1,949 | |
1,659 | 1,497 | 2,918 | 1,255 | 1,998 | 2,340 | 2,107 | 3,116 | 4,610 | 5,289 | |
Total Liabilities | 5,339 | 5,515 | 6,644 | 6,044 | 6,707 | 7,912 | 7,756 | 9,198 | 10,928 | 11,583 |
812 | 873 | 1,003 | 1,022 | 1,568 | 1,431 | 1,401 | 1,291 | 1,615 | 1,725 | |
CWIP | 14 | 0 | 16 | 22 | 24 | 53 | 2 | 20 | 49 | 8 |
Investments | 252 | 252 | 260 | 267 | 273 | 755 | 768 | 768 | 773 | 843 |
4,261 | 4,391 | 5,365 | 4,733 | 4,842 | 5,674 | 5,585 | 7,119 | 8,491 | 9,007 | |
Total Assets | 5,339 | 5,515 | 6,644 | 6,044 | 6,707 | 7,912 | 7,756 | 9,198 | 10,928 | 11,583 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|
156 | 516 | 123 | 715 | 986 | |||||
4 | -310 | 144 | -362 | -116 | |||||
-126 | -23 | -488 | -376 | -833 | |||||
Net Cash Flow | 34 | 183 | -221 | -23 | 36 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
---|---|---|---|---|---|---|---|---|---|
Debtor Days | 1 | 0 | 0 | 0 | 0 | 0 | 0 | 3 | 4 |
Inventory Days | 165 | 202 | 209 | 209 | 206 | 263 | 226 | 213 | 182 |
Days Payable | 43 | 40 | 27 | 17 | 17 | 33 | 24 | 36 | 42 |
Cash Conversion Cycle | 124 | 162 | 182 | 192 | 189 | 230 | 202 | 181 | 145 |
Working Capital Days | 87 | 107 | 132 | 140 | 136 | 143 | 133 | 114 | 82 |
ROCE % | 12% | 12% | 7% | 12% | 10% | 10% | 14% | 16% |
Documents
Announcements
- Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011 23h
- Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 22 Apr
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Board Meeting Intimation for Audited Financial Results For The Year Ended 31St March 2025
11 Apr - Board meeting to approve financial results and dividend.
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Q4 Business Update
7 Apr - Q4 FY2025 revenue growth of 37% reported.
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Format of the Initial Disclosure to be made by an entity identified as a Large Corporate : Annexure A
5 Apr - Kalyan Jewellers confirms not classified as Large Corporate.
Annual reports
Concalls
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Feb 2025Transcript PPT
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Jan 2025TranscriptPPTREC
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Nov 2024Transcript PPT
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Aug 2024Transcript PPT
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May 2024Transcript PPT
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Feb 2024Transcript PPT
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Nov 2023Transcript PPT
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Aug 2023Transcript PPT
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May 2023Transcript PPT
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Feb 2023Transcript PPT
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Nov 2022Transcript PPT
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Aug 2022Transcript PPT
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May 2022Transcript PPT
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Feb 2022TranscriptNotesPPT
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Nov 2021TranscriptNotesPPT
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Aug 2021TranscriptNotesPPT
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May 2021TranscriptNotesPPT
Market Position
The company is among India’s top 5 gold jewellery retailers, accounting for about 6% of the total organised market share. [1]