Kalyan Jewellers India Ltd. (IN:KALYANKJIL)
:KALYANKJIL
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Kalyan Jewellers India Ltd.
(KALYANKJIL)
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Rating:62Neutral
Price Target:
₹472.00
▼(-4.77% Downside)
Action:ReiteratedDate:01/22/26
The score is anchored by strong financial performance (revenue growth, profitability, and solid cash generation). This is offset by very weak technical conditions (below key moving averages, negative MACD, very low RSI/Stoch) and a demanding valuation (high P/E with low dividend yield).
Positive Factors
Revenue Growth
Sustained, strong revenue growth demonstrates durable demand and expanding market penetration across core categories. Consistent top-line expansion supports scale advantages, improves fixed-cost absorption for stores, and underpins capacity to fund reinvestment and multi-format retail expansion over the medium term.
Negative Factors
Elevated Leverage
A significant level of debt and moderate reliance on debt financing reduces financial flexibility. In a higher-rate or demand-downturn environment, elevated leverage can constrain capital allocation, increase interest costs, and limit the firm's ability to pursue opportunistic expansion or absorb shocks.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth
Sustained, strong revenue growth demonstrates durable demand and expanding market penetration across core categories. Consistent top-line expansion supports scale advantages, improves fixed-cost absorption for stores, and underpins capacity to fund reinvestment and multi-format retail expansion over the medium term.
Read all positive factors
Kalyan Jewellers India Ltd. (KALYANKJIL) vs. iShares MSCI India ETF (INDA)
Market Cap
₹460.55B
Dividend Yield0.32%
Average Volume (3M)324.59K
Price to Earnings (P/E)30.1
Beta (1Y)1.46
Revenue Growth33.87%
EPS Growth48.40%
CountryIN
Employees11,177
SectorConsumer Cyclical
Sector Strength84
IndustryLuxury Goods
Share Statistics
EPS (TTM)4.40
Shares Outstanding1,032,740,200
10 Day Avg. Volume251,611
30 Day Avg. Volume324,593
Financial Highlights & Ratios
PEG Ratio3.39
Price to Book (P/B)9.82
Price to Sales (P/S)1.89
P/FCF Ratio63.37
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)15.33
Revenue Forecast (FY)₹417.18B
Kalyan Jewellers India Ltd. Business Overview & Revenue Model
Company Description
Kalyan Jewellers India Limited designs, manufactures, and sells various gold, studded, and other jewelry products. The company offers gold, diamond, pearl, white gold, gemstone, and platinum jewelries for occasions, such as weddings, as well as fo...
How the Company Makes Money
Kalyan Jewellers primarily makes money by selling jewellery and related products through its branded retail outlets and associated channels. Its core revenue stream is the sale of gold jewellery (typically the largest category for Indian jewellers...
Kalyan Jewellers India Ltd. Financial Statement Overview
Summary
Income Statement
85
Very Positive
Balance Sheet
78
Positive
Cash Flow
82
Very Positive
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 284.60B | 249.46B | 184.73B | 140.25B | 107.81B | 85.43B |
| Gross Profit | 36.42B | 31.85B | 26.38B | 21.53B | 16.55B | 14.29B |
| EBITDA | 19.96B | 16.45B | 13.70B | 11.03B | 8.34B | 6.26B |
| Net Income | 9.31B | 7.15B | 5.97B | 4.33B | 2.24B | -63.04M |
Balance Sheet | ||||||
| Total Assets | 170.91B | 151.26B | 128.18B | 107.13B | 89.45B | 88.65B |
| Cash, Cash Equivalents and Short-Term Investments | 11.04B | 12.01B | 1.78B | 1.41B | 1.49B | 3.65B |
| Total Debt | 53.35B | 49.59B | 44.86B | 42.95B | 40.29B | 40.76B |
| Total Liabilities | 117.49B | 103.22B | 86.30B | 70.78B | 58.07B | 60.39B |
| Stockholders Equity | 53.41B | 48.04B | 41.89B | 36.35B | 31.37B | 28.26B |
Cash Flow | ||||||
| Free Cash Flow | 5.17B | 7.45B | 9.50B | 8.26B | 1.73B | 5.81B |
| Operating Cash Flow | 7.41B | 12.09B | 13.22B | 10.13B | 2.64B | 6.29B |
| Investing Cash Flow | 856.35M | -1.77B | -1.37B | -3.84B | 635.74M | -2.17B |
| Financing Cash Flow | -8.30B | -8.40B | -11.48B | -6.38B | -5.44B | -2.08B |
Kalyan Jewellers India Ltd. Technical Analysis
Positive
495.65
Price Trends
395.01
Positive
441.22
Positive
484.44
Negative
Market Momentum
3.69
Negative
66.09
Neutral
88.77
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:KALYANKJIL, the sentiment is Positive. The current price of 495.65 is above the 20-day moving average (MA) of 390.27, above the 50-day MA of 395.01, and above the 200-day MA of 484.44, indicating a neutral trend. The MACD of 3.69 indicates Negative momentum. The RSI at 66.09 is Neutral, neither overbought nor oversold. The STOCH value of 88.77 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:KALYANKJIL.
Kalyan Jewellers India Ltd. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | ₹53.08B | 4.93 | ― | 0.31% | 20.18% | 16.17% | |
66 Neutral | ₹9.13B | 3.41 | ― | 1.38% | 14.86% | 48.09% | |
66 Neutral | ₹126.51B | 23.90 | ― | 0.37% | 35.04% | 80.12% | |
62 Neutral | ₹460.55B | 30.10 | ― | 0.32% | 33.87% | 48.40% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
56 Neutral | ₹72.85B | 9.16 | ― | ― | 190.41% | 2939.51% | |
52 Neutral | ₹30.78B | 18.97 | ― | ― | 112.02% | 244.77% |
* Consumer Cyclical Sector Average
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Kalyan Jewellers India Ltd. Corporate Events
Kalyan Jewellers Allots 77,545 ESOP Shares, Lifts Total Equity to Over 1.03 Billion
Mar 9, 2026
Kalyan Jewellers India Ltd. has allotted 77,545 equity shares of Rs 10 each to eligible employees under its Employee Stock Option Plan 2020, following approval by the Nomination and Remuneration Committee. The new shares, issued at an exercise pri...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.