Kalyan Jewellers India Limited
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. The company is among India’s top 5 gold jewellery retailers, accounting for about 6% of the total organised market share.
Key Business segments
- Wedding Jewellery
- Aspirational Jewellery
- Staple Regional Jewellery
- Studded Jewellery
- Others: It offers heritage jewellery, pink-gold collections, etc under the brands like Vedha, Laya, etc. It also owns a digital-first lifestyle jewellery brand called Candere.
Shareholding Pattern
-PUBLIC GROUP
-PROMOTER GROUP
Financial Summary
| Particulars | March 2022 | March 2023 | March 2024 |
| Sales | 10,818 | 14,071 | 18,548 |
| Sales Growth % | 26.18% | 30.08% | 31.82% |
| Expenses | 9,965 | 12,906 | 17,180 |
| Operating Profit | 853 | 1,165 | 1,368 |
| OPM % | 8% | 8% | 7% |
| Net Profit | 224 | 432 | 596 |
| EPS in Rs | 2.18 | 4.2 | 5.8 |
Synopsis of Financials
- Consolidated revenue of ₹7,287 crores, a 40% increase YoY.
- Standalone revenue growth of 42% in India, amounting to ₹6,393 crores.
- Consolidated PAT at ₹219 crores, up from ₹180 crores YoY; adjusted for customs duty impact, growth would be 43%.
- Standalone PAT grew by 30% to ₹218 crores; adjusting for customs duty, growth would be 54%.
Final Outlook
Kalyan Jewellers share price rose by 28.5% over six sessions but dipped slightly today, opening at ₹ 567.85. The stock reached an intraday high of ₹ 571.60 and low of ₹ 552.40. The company reported a 21.23% profit increase and 40% revenue growth for the December quarter.
*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.
These analyses suggest a positive outlook for Kalyan Jewellers, with target prices ranging from ₹520 to ₹875, reflecting anticipated growth in the company’s valuation.
Kalyan Jewellers is a rapidly growing company setting new benchmarks in the jewellery industry with its strong brand positioning, expansion strategies, and impressive financial performance. Through its transparency, localized strategy, and innovative marketing, the company has built a loyal customer base.
Going forward, Kalyan Jewellers aims to focus on rural and semi-urban markets, where significant growth potential lies. Additionally, global expansion and digital transformation will play a crucial role in the company’s future. With its solid foundation, Kalyan Jewellers remains a promising player in the jewellery sector, poised for continued success.
