Kalyan Jewellers India Ltd

Kalyan Jewellers Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Kalyan Jewellers India Ltd

₹ 425 3.26%
08 May - close price
kalyanjewellers.net BSE: 543278 NSE: KALYANKJIL
About

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]

Key Points

Business Profile[1]
Kalyan Jewellers India Limited is one of India’s largest organised jewellery retailers, established in 1993. The company operates a Pan-India, hyperlocal jewellery retail model with scaled presence in India, the Middle East and the USA.

Website BSE NSE
  • Market Cap ₹ 43,845 Cr.
  • Current Price ₹ 425
  • High / Low ₹ 618 / 348
  • Stock P/E 31.8
  • Book Value ₹ 61.1
  • Dividend Yield 0.35 %
  • ROCE 20.5 %
  • ROE 24.8 %
  • Face Value ₹ 10.0
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Pros

  • Company is expected to give good quarter
  • Company has delivered good profit growth of 195% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 20.5%

Cons

  • Company might be capitalizing the interest cost

* 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

Consumer Discretionary Consumer Durables Consumer Durables Gems, Jewellery And Watches

Part of BSE 500 BSE Consumer Durables BSE 200 BSE Dollex 200 Nifty 500

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
3,382 4,376 4,415 5,223 4,525 5,528 6,065 7,278 6,182 7,268 7,856 10,343 10,275
3,125 4,053 4,101 4,853 4,229 5,159 5,738 6,848 5,782 6,760 7,359 9,593 9,539
Operating Profit 257 323 314 370 296 368 327 430 399 508 497 750 736
OPM % 8% 7% 7% 7% 7% 7% 5% 6% 6% 7% 6% 7% 7%
-19 12 13 20 39 30 26 40 41 46 51 23 46
Interest 80 82 82 82 78 85 90 88 96 104 95 104 130
Depreciation 63 64 67 70 74 75 85 89 93 98 103 109 113
Profit before tax 95 188 178 239 184 237 178 294 251 353 350 560 539
Tax % 26% 24% 24% 24% 25% 25% 27% 26% 25% 25% 26% 26% 24%
70 144 135 180 137 178 130 219 188 264 261 416 410
EPS in Rs 0.68 1.40 1.31 1.75 1.34 1.72 1.27 2.12 1.82 2.56 2.52 4.03 3.97
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
10,505 9,771 10,101 8,573 10,818 14,071 18,516 25,045 35,743
9,732 9,151 9,302 7,949 9,965 12,906 17,180 23,461 33,252
Operating Profit 774 620 799 624 853 1,165 1,335 1,585 2,491
OPM % 7% 6% 8% 7% 8% 8% 7% 6% 7%
32 42 80 45 38 5 106 140 167
Interest 390 418 419 405 360 353 379 422 433
Depreciation 202 224 239 225 232 245 274 343 423
Profit before tax 214 21 221 39 299 572 789 960 1,802
Tax % 34% 123% 36% 115% 25% 24% 24% 26% 25%
141 -5 142 -6 224 432 596 714 1,350
EPS in Rs 1.70 -0.04 1.70 -0.06 2.18 4.20 5.80 6.93 13.08
Dividend Payout % 0% 0% 0% 0% 0% 12% 21% 22% 19%
Compounded Sales Growth
10 Years: %
5 Years: 33%
3 Years: 36%
TTM: 43%
Compounded Profit Growth
10 Years: %
5 Years: 195%
3 Years: 44%
TTM: 92%
Stock Price CAGR
10 Years: %
5 Years: 48%
3 Years: 59%
1 Year: -17%
Return on Equity
10 Years: %
5 Years: 17%
3 Years: 19%
Last Year: 25%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 839 839 839 1,030 1,030 1,030 1,030 1,031 1,033
Reserves 1,012 1,046 1,203 1,796 2,107 2,605 3,159 3,772 5,276
4,196 3,907 3,759 3,378 4,029 4,295 4,495 4,959 6,117
2,503 2,268 2,417 2,661 1,779 2,783 4,134 5,363 8,291
Total Liabilities 8,551 8,060 8,219 8,865 8,945 10,713 12,818 15,126 20,717
1,879 2,152 2,167 1,899 1,921 1,903 2,299 2,846 3,312
CWIP 18 22 24 53 2 20 49 8 18
Investments 1 3 0 0 1 4 4 5 6
6,654 5,884 6,027 6,913 7,021 8,785 10,465 12,267 17,382
Total Assets 8,551 8,060 8,219 8,865 8,945 10,713 12,818 15,126 20,717

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
320 629 245 1,013 1,322 1,209 1,318
34 -217 64 -384 -137 -177 -118
-343 -208 -524 -638 -1,148 -840 -1,264
Net Cash Flow 11 204 -216 -8 37 193 -64
Free Cash Flow 212 581 154 827 1,061 790 939
CFO/OP 41% 110% 47% 98% 116% 91% 70%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 6 5 8 5 4 6 6 6 9
Inventory Days 208 200 205 272 232 216 191 162 167
Days Payable 31 19 24 35 26 37 45 39 40
Cash Conversion Cycle 184 187 189 241 210 185 153 129 136
Working Capital Days -11 -12 -5 10 30 30 25 23 30
ROCE % 7% 11% 7% 10% 13% 14% 15% 21%

Insights

In beta
Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Number of International Showrooms (Middle East/USA/UK)
Count

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Number of Kalyan Showrooms - India
Count ・Standalone data
Revenue Share - Non-South India
% ・Standalone data
Share of Studded Jewellery (Consolidated Revenue)
%
Number of 'My Kalyan' Centers
Count ・Standalone data
Inventory Turn
x
Number of Candere Showrooms
Count

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Shareholding Pattern

Numbers in percentages

6 Recently
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
60.55% 60.55% 60.55% 60.63% 60.59% 62.90% 62.85% 62.85% 62.81% 62.77% 62.75% 62.86%
27.09% 26.56% 26.21% 21.10% 21.19% 15.74% 16.37% 16.89% 16.83% 14.12% 14.11% 14.55%
5.17% 4.86% 5.48% 11.00% 11.75% 13.74% 13.57% 11.97% 13.34% 14.56% 15.23% 14.13%
7.20% 8.03% 7.75% 7.26% 6.46% 7.62% 7.21% 8.29% 7.03% 8.54% 7.90% 8.46%
No. of Shareholders 2,53,1523,55,6963,71,6483,70,8124,03,4055,53,7745,70,9847,86,7816,87,9057,15,7436,73,7396,93,848

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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Documents

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