Kalyan Jewellers India Ltd

Kalyan Jewellers India Ltd

₹ 551 0.91%
21 May 2:14 p.m.
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

Market Position
The company is among India’s top 5 gold jewellery retailers, accounting for about 6% of the total organised market share. [1]

  • Market Cap 56,848 Cr.
  • Current Price 551
  • High / Low 795 / 336
  • Stock P/E 79.6
  • Book Value 46.6
  • Dividend Yield 0.22 %
  • ROCE 14.3 %
  • ROE 15.9 %
  • Face Value 10.0

Pros

  • Company is expected to give good quarter
  • Company has delivered good profit growth of 38.3% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 18.1%
  • Company's working capital requirements have reduced from 98.1 days to 74.1 days

Cons

  • Stock is trading at 12.0 times its book value
  • 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.

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025
2,857 3,333 3,473 3,884 3,382 4,376 4,415 5,223 4,525 5,535 6,065 7,278 6,182
2,639 3,068 3,207 3,557 3,125 4,053 4,101 4,853 4,229 5,159 5,738 6,848 5,782
Operating Profit 218 264 266 327 257 323 314 370 296 376 327 430 399
OPM % 8% 8% 8% 8% 8% 7% 7% 7% 7% 7% 5% 6% 6%
11 8 8 7 -19 12 13 20 39 22 26 40 41
Interest 76 71 74 77 80 82 82 82 78 85 90 88 96
Depreciation 58 59 60 62 63 64 67 70 74 75 85 89 93
Profit before tax 96 142 140 195 95 188 178 239 184 237 178 294 251
Tax % 25% 24% 25% 24% 26% 24% 24% 24% 25% 25% 27% 26% 25%
72 108 106 148 70 144 135 180 137 178 130 219 188
EPS in Rs 0.70 1.05 1.03 1.44 0.68 1.40 1.31 1.75 1.34 1.72 1.27 2.12 1.82
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
10,505 9,771 10,101 8,573 10,818 14,071 18,548 25,045
9,732 9,151 9,302 7,949 9,965 12,906 17,180 23,528
Operating Profit 774 620 799 624 853 1,165 1,368 1,517
OPM % 7% 6% 8% 7% 8% 8% 7% 6%
32 42 80 45 38 5 74 145
Interest 390 418 419 405 360 353 379 359
Depreciation 202 224 239 225 232 245 274 343
Profit before tax 214 21 221 39 299 572 789 960
Tax % 34% 123% 36% 115% 25% 24% 24% 26%
141 -5 142 -6 224 432 596 714
EPS in Rs 1.70 -0.04 1.70 -0.06 2.18 4.20 5.80 6.93
Dividend Payout % 0% 0% 0% 0% 0% 12% 21% 22%
Compounded Sales Growth
10 Years: %
5 Years: 20%
3 Years: 32%
TTM: 35%
Compounded Profit Growth
10 Years: %
5 Years: 38%
3 Years: 47%
TTM: 20%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: 107%
1 Year: 36%
Return on Equity
10 Years: %
5 Years: 12%
3 Years: 15%
Last Year: 16%

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
Equity Capital 839 839 839 1,030 1,030 1,030 1,030 1,031
Reserves 1,012 1,046 1,203 1,796 2,107 2,605 3,159 3,772
4,196 3,907 3,759 4,081 4,029 4,295 4,486 4,959
2,503 2,268 2,417 1,958 1,779 2,783 4,142 5,363
Total Liabilities 8,551 8,060 8,219 8,865 8,945 10,713 12,818 15,126
1,879 2,152 2,167 1,899 1,921 1,903 2,299 2,846
CWIP 18 22 24 53 2 20 49 8
Investments 1 3 0 0 1 4 4 5
6,654 5,884 6,027 6,913 7,021 8,785 10,465 12,267
Total Assets 8,551 8,060 8,219 8,865 8,945 10,713 12,818 15,126

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
320 629 264 1,013 1,322 1,209
34 -217 64 -384 -137 -177
-343 -208 -544 -638 -1,148 -840
Net Cash Flow 11 204 -216 -8 37 193

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Debtor Days 6 5 8 5 4 6 6 6
Inventory Days 208 200 205 272 232 216 191 162
Days Payable 31 19 24 35 26 37 45 39
Cash Conversion Cycle 184 187 189 241 210 185 153 129
Working Capital Days 121 123 122 157 146 124 96 74
ROCE % 7% 11% 7% 9% 13% 14% 14%

Shareholding Pattern

Numbers in percentages

1 Recently
Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025
60.54% 60.54% 60.54% 60.55% 60.55% 60.55% 60.55% 60.63% 60.59% 62.90% 62.85% 62.85%
2.77% 2.75% 28.72% 29.65% 27.09% 26.56% 26.21% 21.10% 21.19% 15.74% 16.37% 16.89%
1.96% 2.58% 2.89% 2.63% 5.17% 4.86% 5.48% 11.00% 11.75% 13.74% 13.57% 11.97%
34.73% 34.14% 7.84% 7.17% 7.20% 8.03% 7.75% 7.26% 6.46% 7.62% 7.21% 8.29%
No. of Shareholders 2,61,9522,16,0732,11,2152,24,4012,53,1523,55,6963,71,6483,70,8124,03,4055,53,7745,70,9847,86,781

* 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.

Click on the line-items to see the names of individual entities.

Documents

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