Kalyan Jewellers India Ltd logo

Kalyan Jewellers India Ltd

KALYANKJIL NSE

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]

AI Verdict: BUY Confidence: 7%

Kalyan Jewellers demonstrates exceptional growth with 43% TTM sales growth and 92% TTM profit growth, supported by unanimous analyst buy ratings (9/9). However, the stock's -27% correction over the past year and a P/E of 29.3x warrant caution on entry timing.

Key Fundamentals

MidcapJewellery & WatchesConsumer Goods
Market Cap
₹38,800 Cr
Volatility
Moderate
P/E Ratio
28.88
EBITDA
₹2,450 Cr
Return on Equity
14.24%
Debt to Equity
1.05
Book Value
₹61.09
EPS
₹6.12
52W High
₹617.7
52W Low
₹327.05

Technical Indicators

Key Insights

Strengths

3
  • 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%

Weaknesses

1
  • Company might be capitalizing the interest cost

Growth Rate

Revenue Growth
41.89% ↗
Net Income Growth
68.74% ↗
Cash Flow Change
-8.50% ↘
ROE
4.42% ↗
ROCE
-1.28% ↘
EBITDA Margin (Avg.)
3.18% ↗

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 8d ago
BUY
Risk medium

Kalyan Jewellers demonstrates exceptional growth with 43% TTM sales growth and 92% TTM profit growth, supported by unanimous analyst buy ratings (9/9). However, the stock's -27% correction over the past year and a P/E of 29.3x warrant caution on entry timing.

Bull Case 8
  • Unanimous analyst consensus with 100% buy ratings (9 out of 9 analysts) signals strong institutional confidence
  • Outstanding TTM profit growth of 92% indicates significant operating leverage and margin expansion
  • Compounded sales CAGR of 36% over 3 years and 33% over 5 years reflects consistent top-line momentum
  • 5-year compounded profit CAGR of 195% demonstrates exceptional long-term earnings trajectory
  • ROE improved to 25% last year from 19% 3-year average, showing improving capital efficiency
  • TTM sales growth of 43% suggests accelerating revenue momentum in the current cycle
  • Market cap of Rs 39,657 Cr with healthy dividend payout of 20.5% provides shareholder returns alongside growth
  • 3-year stock CAGR of 43% despite recent correction shows strong long-term wealth creation track record
Bear Case 8
  • Stock has corrected -27% over the past 1 year, indicating significant near-term momentum loss and potential valuation reset
  • P/B ratio of 6.27x is elevated for a jewellery retailer with significant working capital requirements
  • Company might be capitalizing interest costs, which could overstate reported profitability and asset values
  • P/E of 29.3x is demanding for a consumer discretionary business exposed to gold price volatility
  • Debt-to-equity ratio unavailable suggests limited transparency on leverage which is critical for a capital-intensive retail expansion model
  • Dividend yield of only 0.39% offers minimal income cushion during periods of capital depreciation
  • 52-week high/low data unavailable makes it difficult to assess current price relative to trading range
  • 10-year growth metrics unavailable (pre-listing period) limits long-cycle performance assessment

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 3d ago
Neutral 1
  • Investor meets with BofA, Citi May 30

    Kalyan Jewellers scheduled physical group meetings with Bank of America on June 3 and Citi on June 5, 2026, signaling ongoing institutional engagement.

TL;DR: Limited news flow for Kalyan Jewellers this period. The company is maintaining active institutional investor engagement with scheduled meetings with major global banks in early June 2026. No material positive or negative catalysts are visible from current headlines.

Quarterly Results

  Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales
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
Expenses
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%
Other Income
-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
PBT
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%
Net Profit
70
144
135
180
137
178
130
219
188
264
261
416
410
EPS in Rs
0.68
1.4
1.31
1.75
1.34
1.72
1.27
2.12
1.82
2.56
2.52
4.03
3.97
Figures in ₹ Crores

Profit & Loss

  Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales
10,505
9,771
10,101
8,573
10,818
14,071
18,516
25,045
35,743
Expenses
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%
Other Income
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
PBT
214
21
221
39
299
572
789
960
1,802
Tax %
34%
123%
36%
115%
25%
24%
24%
26%
25%
Net Profit
141
-5
142
-6
224
432
596
714
1,350
EPS in Rs
1.7
-0.04
1.7
-0.06
2.18
4.2
5.8
6.93
13.08
Div. Payout %
0%
0%
0%
0%
0%
12%
21%
22%
19%
Figures in ₹ Crores

Balance Sheet

  Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 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
Borrowings
4,196
3,907
3,759
3,378
4,029
4,295
4,495
4,959
6,117
Other Liabilities
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
Fixed Assets
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
Other Assets
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
Figures in ₹ Crores

Cash Flow

  Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
—
—
320
629
245
1,013
1,322
1,209
1,318
Investing
—
—
34
-217
64
-384
-137
-177
-118
Financing
—
—
-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
Figures in ₹ Crores

Ratios

  Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 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%

Shareholding Pattern

As of Mar 2026
Promoters 62.87%
FIIs 14.55%
DIIs 14.12%
Public 7.08%
Others 1.38%
Total 100.00%
  Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters
60.53%
60.53%
60.54%
60.54%
60.54%
60.54%
60.54%
60.54%
60.55%
60.55%
60.55%
60.55%
60.63%
60.59%
62.90%
62.85%
62.85%
62.82%
62.78%
62.76%
62.87%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
26.36%
23.82%
17.59%
17.59%
17.59%
21.11%
21.19%
15.75%
16.37%
16.89%
16.83%
14.12%
14.12%
14.55%
DIIs
1.49%
1.43%
1.70%
1.88%
1.56%
1.78%
2.40%
2.89%
2.63%
4.52%
4.86%
4.50%
11.00%
11.76%
13.74%
13.58%
11.97%
13.33%
14.56%
15.22%
14.12%
Government
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
Public
5.17%
6.33%
7.04%
6.54%
6.98%
6.62%
5.57%
5.53%
5.04%
5.11%
6.11%
5.94%
5.48%
5.41%
6.47%
6.08%
7.21%
6.21%
7.11%
6.62%
7.08%
Others
32.81%
31.71%
30.72%
31.04%
30.93%
31.06%
31.50%
4.68%
7.96%
12.22%
10.88%
11.42%
1.78%
1.05%
1.15%
1.12%
1.09%
0.81%
1.43%
1.29%
1.38%
No. of Shareholders
7
2,89,671
2,87,585
2,67,623
2,71,583
2,61,952
2,16,073
2,11,215
2,24,401
2,53,152
3,55,696
3,71,648
3,70,812
4,03,405
5,53,774
5,70,984
7,86,781
6,87,905
7,15,743
6,73,739
6,93,848

Documents

Frequently Asked Questions about Kalyan Jewellers India Ltd

What does Kalyan Jewellers India Ltd do?
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. Ka...
Where is Kalyan Jewellers India Ltd (KALYANKJIL) listed?
Kalyan Jewellers India Ltd is listed on the Indian stock exchanges. It is listed on NSE: KALYANKJIL and BSE: 543278. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Kalyan Jewellers India Ltd belong to?
Kalyan Jewellers India Ltd operates in the Consumer Discretionary sector within the Consumer Durables industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Kalyan Jewellers India Ltd?
Kalyan Jewellers India Ltd has a market capitalisation of approximately ₹38800.05 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of Kalyan Jewellers India Ltd?
The Price-to-Earnings (PE) ratio of Kalyan Jewellers India Ltd is 28.88. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Kalyan Jewellers India Ltd?
Over the past 52 weeks, Kalyan Jewellers India Ltd has traded between a low of ₹327.05 and a high of ₹617.7. This range helps investors understand the stock's price volatility and recent trading levels.
Does Kalyan Jewellers India Ltd pay dividends?
Yes, Kalyan Jewellers India Ltd has a dividend yield of 0.40%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Kalyan Jewellers India Ltd?
Kalyan Jewellers India Ltd has a Return on Equity (ROE) of 14.24%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Kalyan Jewellers India Ltd on Tapetide?
On Tapetide, you can view Kalyan Jewellers India Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

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]

Website kalyanjewellers.net
Listed 2021-03-26
Face Value ₹ 10
Issued Size 1,03,26,62,662

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