Kalyan Jewellers India Ltd

Kalyan Jewellers India Ltd

₹ 766 0.93%
11 Dec 12:48 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 79,039 Cr.
  • Current Price 766
  • High / Low 786 / 311
  • Stock P/E 126
  • Book Value 42.3
  • Dividend Yield 0.16 %
  • ROCE 14.0 %
  • ROE 15.2 %
  • Face Value 10.0

Pros

  • Company is expected to give good quarter
  • Company has delivered good profit growth of 176% CAGR over last 5 years
  • Company's working capital requirements have reduced from 122 days to 96.0 days

Cons

  • Stock is trading at 18.0 times its book value
  • Company has a low return on equity of 12.4% 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.

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
2,889 3,435 2,857 3,333 3,473 3,884 3,382 4,376 4,415 5,223 4,535 5,535 6,065
2,661 3,136 2,639 3,068 3,207 3,557 3,125 4,053 4,101 4,853 4,229 5,159 5,738
Operating Profit 228 299 218 264 266 327 257 323 314 370 306 376 327
OPM % 8% 9% 8% 8% 8% 8% 8% 7% 7% 7% 7% 7% 5%
5 17 11 8 8 7 -19 12 13 20 29 22 26
Interest 84 82 76 71 74 77 80 82 82 82 78 85 90
Depreciation 57 59 58 59 60 62 63 64 67 70 74 75 85
Profit before tax 92 176 96 142 140 195 95 188 178 239 184 237 178
Tax % 25% 23% 25% 24% 25% 24% 26% 24% 24% 24% 25% 25% 27%
69 135 72 108 106 148 70 144 135 180 137 178 130
EPS in Rs 0.67 1.31 0.70 1.05 1.03 1.44 0.68 1.40 1.31 1.75 1.34 1.72 1.27
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 TTM
10,505 9,771 10,101 8,573 10,818 14,071 18,548 21,359
9,732 9,151 9,302 7,949 9,965 12,906 17,180 19,980
Operating Profit 774 620 799 624 853 1,165 1,368 1,379
OPM % 7% 6% 8% 7% 8% 8% 7% 6%
32 42 80 45 38 5 74 97
Interest 390 418 419 405 360 353 379 335
Depreciation 202 224 239 225 232 245 274 304
Profit before tax 214 21 221 39 299 572 789 838
Tax % 34% 123% 36% 115% 25% 24% 24%
141 -5 142 -6 224 432 596 626
EPS in Rs 1.70 -0.04 1.70 -0.06 2.18 4.20 5.80 6.08
Dividend Payout % 0% 0% 0% 0% 0% 12% 21%
Compounded Sales Growth
10 Years: %
5 Years: 14%
3 Years: 29%
TTM: 33%
Compounded Profit Growth
10 Years: %
5 Years: 176%
3 Years: 367%
TTM: 21%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: 120%
1 Year: 141%
Return on Equity
10 Years: %
5 Years: 10%
3 Years: 12%
Last Year: 15%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Sep 2024
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 3,328
4,196 3,907 3,759 4,081 4,029 4,295 4,486 4,550
2,503 2,268 2,417 1,958 1,779 2,783 4,142 4,850
Total Liabilities 8,551 8,060 8,219 8,865 8,945 10,713 12,818 13,759
1,879 2,152 2,167 1,899 1,921 1,903 2,299 2,491
CWIP 18 22 24 53 2 20 49 9
Investments 1 3 0 0 1 4 4 5
6,654 5,884 6,027 6,913 7,021 8,785 10,465 11,254
Total Assets 8,551 8,060 8,219 8,865 8,945 10,713 12,818 13,759

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
320 629 264 1,013 1,322
34 -217 64 -384 -137
-343 -208 -544 -638 -1,148
Net Cash Flow 11 204 -216 -8 37

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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

Shareholding Pattern

Numbers in percentages

4 Recently
Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
60.54% 60.54% 60.54% 60.54% 60.54% 60.55% 60.55% 60.55% 60.55% 60.63% 60.59% 62.90%
3.26% 3.05% 2.77% 2.75% 28.72% 29.65% 27.09% 26.56% 26.21% 21.10% 21.19% 15.74%
2.07% 1.74% 1.96% 2.58% 2.89% 2.63% 5.17% 4.86% 5.48% 11.00% 11.75% 13.74%
34.13% 34.67% 34.73% 34.14% 7.84% 7.17% 7.20% 8.03% 7.75% 7.26% 6.46% 7.62%
No. of Shareholders 2,67,6232,71,5832,61,9522,16,0732,11,2152,24,4012,53,1523,55,6963,71,6483,70,8124,03,4055,53,774

* 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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