Kalyan Jewellers India Ltd. (IN:KALYANKJIL)
:KALYANKJIL
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Kalyan Jewellers India Ltd.
(KALYANKJIL)
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Rating:62Neutral
Price Target:
₹437.00
▼(-11.83% 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
Consistent Revenue Growth
Kalyan reported sustained high revenue growth (~35% reported), indicating durable demand and successful retail expansion. This supports scale advantages, funds reinvestment in stores and design, and underpins longer-term earnings resilience across festive/wedding cycles.
Negative Factors
Material Debt Level
The balance sheet shows a significant debt stock and moderate reliance on leverage. Elevated debt increases interest and refinancing risk, reduces financial flexibility for strategic initiatives, and can pressure liquidity during demand weakness or higher interest rate environments.
Read all positive and negative factors
Positive Factors
Negative Factors
Consistent Revenue Growth
Kalyan reported sustained high revenue growth (~35% reported), indicating durable demand and successful retail expansion. This supports scale advantages, funds reinvestment in stores and design, and underpins longer-term earnings resilience across festive/wedding cycles.
Read all positive factors
Kalyan Jewellers India Ltd. (KALYANKJIL) vs. iShares MSCI India ETF (INDA)
Market Cap
₹426.06B
Dividend Yield0.32%
Average Volume (3M)324.59K
Price to Earnings (P/E)30.1
Beta (1Y)1.52
Revenue Growth35.12%
EPS Growth69.54%
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)15.46
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 retailing jewellery through its company-operated and franchisee stores, earning revenue from the sale of jewellery products to end customers. The largest revenue stream comes from gold jewellery, where cus...
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
Neutral
495.65
Price Trends
403.77
Positive
437.71
Negative
482.22
Negative
Market Momentum
11.76
Negative
55.72
Neutral
75.31
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:KALYANKJIL, the sentiment is Neutral. The current price of 495.65 is above the 20-day moving average (MA) of 406.45, above the 50-day MA of 403.77, and above the 200-day MA of 482.22, indicating a neutral trend. The MACD of 11.76 indicates Negative momentum. The RSI at 55.72 is Neutral, neither overbought nor oversold. The STOCH value of 75.31 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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 | ₹3.89T | 53.37 | ― | 0.28% | 30.23% | 47.29% | |
66 Neutral | ₹9.77B | 3.41 | ― | 1.38% | 11.74% | 101.60% | |
66 Neutral | ₹123.24B | 23.90 | ― | 0.37% | 56.15% | 89.57% | |
62 Neutral | ₹426.06B | 30.10 | ― | 0.32% | 35.12% | 69.54% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
56 Neutral | ₹75.20B | 9.16 | ― | ― | 96.01% | 29.63% |
* Consumer Cyclical Sector Average
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Kalyan Jewellers India Ltd. Corporate Events
Kalyan Jewellers Schedules Q4 FY26 Earnings Call for May 8
Apr 20, 2026
Kalyan Jewellers India Ltd. has scheduled an earnings conference call on Friday, 8 May 2026 at 5:00 p.m. IST to discuss its financial and operational performance for the fourth quarter of fiscal year 2025-26. Senior management, including the execu...
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.