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 ₹ 63,320 Cr.
- Current Price ₹ 613
- High / Low ₹ 649 / 327
- Stock P/E 43.3
- Book Value ₹ 61.1
- Dividend Yield 0.41 %
- ROCE 21.2 %
- ROE 24.8 %
- Face Value ₹ 10.0
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
- Stock is trading at 10.0 times its book value
* 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.
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
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 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|
| 10,505 | 9,771 | 10,101 | 8,573 | 10,818 | 14,071 | 18,516 | 25,045 | 35,743 | 39,063 | |
| 9,732 | 9,151 | 9,302 | 7,949 | 9,965 | 12,906 | 17,180 | 23,461 | 33,181 | 36,448 | |
| Operating Profit | 774 | 620 | 799 | 624 | 853 | 1,165 | 1,335 | 1,585 | 2,562 | 2,616 |
| OPM % | 7% | 6% | 8% | 7% | 8% | 8% | 7% | 6% | 7% | 7% |
| 32 | 42 | 80 | 45 | 38 | 5 | 106 | 140 | 162 | 176 | |
| Interest | 390 | 418 | 419 | 405 | 360 | 353 | 379 | 422 | 499 | 438 |
| Depreciation | 202 | 224 | 239 | 225 | 232 | 245 | 274 | 343 | 423 | 440 |
| Profit before tax | 214 | 21 | 221 | 39 | 299 | 572 | 789 | 960 | 1,802 | 1,914 |
| Tax % | 34% | 123% | 36% | 115% | 25% | 24% | 24% | 26% | 25% | |
| 141 | -5 | 142 | -6 | 224 | 432 | 596 | 714 | 1,350 | 1,435 | |
| EPS in Rs | 1.70 | -0.04 | 1.70 | -0.06 | 2.18 | 4.20 | 5.80 | 6.93 | 13.08 | 13.90 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 12% | 21% | 22% | 19% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 33% |
| 3 Years: | 36% |
| TTM: | 46% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | 195% |
| 3 Years: | 45% |
| TTM: | 83% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | 56% |
| 3 Years: | 35% |
| 1 Year: | 21% |
| 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% | 68% |
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 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Total Showroom Count Number of Showrooms |
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| My Kalyan Grassroots Network Number of Centres ・Standalone data |
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| FOCO Showroom Count Number of Showrooms |
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| Same-Store Sales Growth (SSSG) - India % YoY ・Standalone data |
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Extracted by Screener AI
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
- Kalyan Jewellers schedules a physical analyst/institutional investor meeting on 17 September 2026 at Jefferies India Forum.
- Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
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General Update
- 18th AGM scheduled for 19 September 2026 via VC/OAVM; annual report FY26 web-link shared.
- Announcement under Regulation 30 (LODR)-Newspaper Publication
- Announcement under Regulation 30 (LODR)-Newspaper Publication
Annual reports
Concalls
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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.