Kalyan Jewellers India Ltd. (KALYANKJIL) AI Stock Analysis

• Market Cap: ₹550.62B
• Dividend Yield: 0.23%
• Average Volume (3M): 267.24K
• Price to Earnings (P/E): 68.7
• Beta (1Y): 1.41
• Revenue Growth: 36.00%
• EPS Growth: 26.76%
• Country: IN
• Employees: 11,177
• Sector: Consumer Cyclical
• Sector Strength: 77
• Industry: Luxury Goods
• EPS (TTM): 2.60
• Shares Outstanding: 1,031,895,100
• 10 Day Avg. Volume: 422,948
• 30 Day Avg. Volume: 267,241
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ₹640.33
• Price Target Upside: 26.24% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 3

• Rating: 59 Neutral
• Price Target: ₹551.00 ▲(8.62% Upside)

Kalyan Jewellers India Ltd. shows strong financial performance with robust revenue growth and solid cash flow generation. However, the stock is currently in a bearish technical position, with prices below key moving averages and a low RSI. The high P/E ratio suggests potential overvaluation, and the low dividend yield offers limited income potential. These factors combine to give the stock a moderate overall score.

Kalyan Jewellers India Ltd. Business Overview & Revenue Model

Company Description

Kalyan Jewellers India Ltd. (KALYANKJIL) is a prominent Indian jewellery retailer known for its wide array of gold, diamond, platinum, and other precious metal jewellery. Established in 1993, the company operates a robust retail network across India and the Middle East, catering to a diverse clientele with its traditional and contemporary jewellery designs. Kalyan Jewellers is renowned for its customer-centric approach, offering a variety of product lines that appeal to different market segments, including bridal and festive collections.

How the Company Makes Money

Kalyan Jewellers generates revenue primarily through the sale of jewellery products in its retail stores and online platforms. The company's key revenue streams include gold jewellery, which constitutes a significant portion of its sales, followed by diamond and other precious metal jewellery. Kalyan Jewellers leverages its extensive retail network and brand reputation to attract customers, while also employing strategic marketing campaigns and endorsements by celebrities to enhance its market presence. The company also benefits from its operations in the Middle East, which contributes to its revenue through a mix of high-value transactions and a diverse customer base. Financing options and loyalty programs further support customer engagement and sales growth.

Kalyan Jewellers India Ltd. Financial Statement Overview

Summary

Kalyan Jewellers India Ltd. maintains a robust financial performance with strong revenue growth and profitability margins. The company has successfully managed its debt levels, though the reliance on debt financing warrants monitoring. Cash flow generation remains solid, supporting operational and strategic initiatives.

Income Statement

Kalyan Jewellers India Ltd. has demonstrated strong revenue growth over the years, with a notable increase in Total Revenue from previous periods. The Gross Profit Margin remains healthy, though there was a slight decline in EBIT Margin due to increased expenses. The Net Profit Margin is also positive, indicating effective cost management despite competitive pressures.

Balance Sheet

The company's Balance Sheet shows a stable financial position with a manageable Debt-to-Equity Ratio, though there is a significant level of debt. The Return on Equity is solid, reflecting effective use of shareholder funds. However, the Equity Ratio indicates a moderate reliance on debt financing, which could pose risks in a volatile market.

Cash Flow

Kalyan Jewellers has shown healthy cash flows with consistent Free Cash Flow generation. The Operating Cash Flow to Net Income Ratio is strong, highlighting efficient cash conversion. There is, however, a slight decline in free cash flow growth, which could impact future reinvestment capabilities.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	250.69B	250.45B	185.16B	140.25B	107.81B	85.43B
Gross Profit	33.09B	32.84B	26.61B	21.53B	16.55B	14.01B
EBITDA	15.67B	16.62B	14.42B	11.03B	8.34B	6.26B
Net Income	7.15B	7.15B	5.97B	4.33B	2.24B	-63.04M
Balance Sheet
Total Assets	151.26B	151.26B	128.18B	107.13B	89.45B	88.65B
Cash, Cash Equivalents and Short-Term Investments	12.01B	12.01B	1.78B	1.41B	1.49B	3.65B
Total Debt	49.59B	49.59B	44.86B	42.95B	40.29B	40.76B
Total Liabilities	103.22B	103.22B	86.30B	70.78B	58.07B	60.39B
Stockholders Equity	48.04B	48.04B	41.89B	36.35B	31.37B	28.26B
Cash Flow
Free Cash Flow	0.00	7.45B	9.50B	8.26B	1.73B	5.81B
Operating Cash Flow	0.00	12.09B	13.22B	10.13B	2.64B	6.29B
Investing Cash Flow	0.00	-1.77B	-1.37B	-3.84B	635.74M	-2.17B
Financing Cash Flow	0.00	-8.40B	-11.48B	-6.38B	-5.44B	-2.08B

Kalyan Jewellers India Ltd. Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 507.25
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:KALYANKJIL, the sentiment is Negative. The current price of 507.25 is below the 20-day moving average (MA) of 571.87, below the 50-day MA of 562.92, and below the 200-day MA of 573.84, indicating a bearish trend. The MACD of -16.32 indicates Positive momentum. The RSI at 32.61 is Neutral, neither overbought nor oversold. The STOCH value of 13.94 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:KALYANKJIL.

Kalyan Jewellers India Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TBZ	66 Neutral	₹12.72B	17.22		0.92%	13.93%	22.84%
SENCO	62 Neutral	₹59.06B	27.51		0.13%	27.47%	-0.43%
Sector *	61 Neutral	$17.51B	12.51	-5.96%	3.09%	1.71%	-15.50%
KALYANKJIL	59 Neutral	₹550.62B	68.70		0.23%	36.00%	26.76%
PCJEWELLER	58 Neutral	₹85.22B	11.87		―	173.56%	―
THANGAMAYL	58 Neutral	₹62.27B	56.17		0.62%	28.28%	-16.65%

Kalyan Jewellers India Ltd. Corporate Events

Kalyan Jewellers Confirms No New Share Encumbrances

Kalyan Jewellers India Ltd. has disclosed that, apart from previously declared encumbrances, no additional encumbrances have been placed on the shares held by its promoters and promoter group. This announcement ensures transparency and maintains investor confidence by clarifying the company’s shareholding status.