Kalyan Jewellers India Limited
₹499.00-₹16.00 (-3.1%)
Last close · Data as of Oct 30, 2026
- Market cap
- ₹51,179 Cr
- P/E
- 55.5x
- EV / EBITDA
- 43.2x
- Revenue
- ₹21,639 Cr
- Net margin
- 3.5%
- ROCE
- 15.1%
Price chart
Technical chartScreen technicals →-2.7% over the last year
Daily closes.
Go deeper
Technical chart: candles, 9 moving averages, RSI, MACD and drawing tools
Performance
Price change over each period, before dividends.
- 1M
- -9.8%
- 3M
- -21.3%
- 6M
- +21.0%
- 1Y
- -2.7%
- 5Y
- +540.2%
52-week range
Day change -₹16.00 (-3.1%) from ₹515 to ₹499 · Last close Oct 30, 2026
Best weekday to invest, historically
The same weekly amount in KALYANKJIL, bought on each weekday since 2021.
AI Summary
Indian StockStrengths1
- Strong 5-year net profit CAGR of 28.8%
Concerns1
- Operating margin declining for 3 consecutive years (8.0% → 7.0% → 6.0%)
Rule-based from financial data. Not advice.
About the company
Kalyan Jewellers India Limited, together with its subsidiaries, engages in the manufacture and retail of various gold and precious stone studded jewelry products. It offers gold, diamond, silver, platinum, gemstone, and white and rose gold jewelries, including wedding, staple regional, aspirational, studded, and other jewelries.
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Kalyan Jewellers India Limited, together with its subsidiaries, engages in the manufacture and retail of various gold and precious stone studded jewelry products. It offers gold, diamond, silver, platinum, gemstone, and white and rose gold jewelries, including wedding, staple regional, aspirational, studded, and other jewelries. The company also provides chains, necklaces, bangles, bracelets, nose studs, choker, jewelry, and moti sets, daily wear, vaddanam, rings, earrings, pendants, anklets, pearls, studs, jhumka, lockets, harams, kadas, payals, and second studs. It offers its products under MUDHRA, NIMAH, ANOKHI, RANG, TEJASVI, ZIAH, LAYA, GLO, CANDERE, VEDHA, APOORVA, HERA, and MUHURAT brand names. In addition, the company operates showrooms in India and the Middle East, as well as My Kalyan Grassroots stores. Further, it sells its products through an online platform, candere.com. Kalyan Jewellers India Limited was founded in 1993 and is headquartered in Thrissur, India.
- Sector
- Consumer Discretionary
- Shares outstanding
- 103 Cr shares
- ISIN
- INE303R01014
- BSE code
- 543278
Key statistics
Screen fundamentals →Valuation, profitability, growth and solvency at the latest close; hover a label for its meaning.
Valuation
- Market cap
- ₹51,179 Cr
- P/E
- 55.5x
- P/B
- 9.7x
- EV / EBITDA
- 43.2x
- EV / Sales
- 3.3x
- P/S
- 3.2x
- Earnings yield
- 1.8%
- 52-week high
- ₹634.40
- 52-week low
- ₹330.90
Profitability
- Operating margin
- 7.1%
- Net margin
- 3.5%
- EBITDA margin
- 7.7%
- ROE
- 13.3%
- ROCE
- 15.1%
- ROA
- 5.1%
- Dividend payout
- 22.0%
- Tax rate
- 26.0%
- Other income, % of PBT
- 13.6%
Growth
- RevenueLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹21,639 Cr
- Revenue growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 37.3%
- Revenue CAGR, 5YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 15.0%
- EBITDALatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹1,219 Cr
- EBITDA growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 26.2%
- Net profit growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 24.4%
- Net profit CAGR, 5YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 28.8%
- Cash from operationsLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹986 Cr
- CFO growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 37.9%
- Free cash flowLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- ₹167 Cr
- Asset growth, 1YLatest stored company figure. It is not dated and can be a year behind the FY2025 statements; the Growth card lists each year.
- 18.8%
Solvency and efficiency
- Current ratio
- 2.62
- Debt / Equity
- 0.77
- Debt / Assets
- 0.30
- Debt / EBITDA
- 2.65
- Interest coverage
- 4.16
- Financial leverage
- 2.62
- CFO / Net profit
- 1.78
- Cash / Market cap
- 16.6%
- Cash per share
- ₹82.12
- Asset turnover
- 1.44
- Fixed asset turnover
- 9.76
- Capital intensity
- 0.10
- Debtor days
- 4 days
- Inventory turnover
- 2.01
- Cash conversion cycle
- 145 days
Where the revenue went
Of every ₹100 of FY2025 revenue, ₹3 was left as net profit.
| From | To | Amount |
|---|---|---|
| Sales | Expenses | ₹20,325 Cr |
| Sales | Operating profit | ₹1,314 Cr |
| Operating profit | Interest | ₹280 Cr |
| Operating profit | Depreciation | ₹246 Cr |
| Operating profit | Profit before tax | ₹788 Cr |
| Other income | Profit before tax | ₹144 Cr |
| Profit before tax | Tax and other | ₹243 Cr |
| Profit before tax | Net profit | ₹689 Cr |
Revenue and net profit
Revenue grew 37.3% in FY2025; net profit is the dashed line.
| Date | Revenue | Net profit |
|---|---|---|
| FY2021 | ₹7,326 Cr | ₹138 Cr |
| FY2022 | ₹9,056 Cr | ₹214 Cr |
| FY2023 | ₹11,584 Cr | ₹390 Cr |
| FY2024 | ₹15,758 Cr | ₹554 Cr |
| FY2025 | ₹21,639 Cr | ₹689 Cr |
Cash flows
FY2025: ₹973 Cr from operations, ₹680 Cr free after investment (dashed).
| Date | Operating cash flow | Free cash flow |
|---|---|---|
| FY2021 | ₹516 Cr | ₹206 Cr |
| FY2022 | ₹109 Cr | ₹253 Cr |
| FY2023 | ₹715 Cr | ₹353 Cr |
| FY2024 | ₹986 Cr | ₹870 Cr |
| FY2025 | ₹973 Cr | ₹680 Cr |
Growth
Latest fiscal year FY2025 (ending March): each figure with its change over the year before.
- Revenue
- ₹21,639 Cr+37.3%1Y
- Net profit
- ₹689 Cr+24.4%1Y
- Cash from operations
- ₹973 Cr
- Free cash flow
- ₹680 Cr-21.8%1Y
- Revenue CAGR, 5Y
- 15.0%
- EBITDA CAGR, 5Y
- 10.1%
- Net profit CAGR, 5Y
- 28.8%
| Year | Revenue | Operating income | EBITDA | Net profit | CFO | FCF | ROE | Revenue growth 1Y | Net profit growth 1Y |
|---|---|---|---|---|---|---|---|---|---|
| FY2025 | ₹21,639 Cr | ₹1,314 Cr | — | ₹689 Cr | ₹973 Cr | ₹680 Cr | 14.4% | +37.3% | +24.4% |
Monthly returns
Month-by-month returns of KALYANKJIL across the years, with the seasonal pattern.
Balance sheet
What the company owns and owes at the end of FY2025.
| Line | FY2025 |
|---|---|
| Liabilities and equity | ₹12,709 Cr |
| Equity capital | ₹1,031 Cr |
| Reserves | ₹3,746 Cr |
| Borrowings | ₹3,301 Cr |
| Other liabilities | ₹4,631 Cr |
| Assets | ₹12,709 Cr |
| Fixed assets | ₹1,914 Cr |
| Capital work in progress | ₹6 Cr |
| Investments | ₹851 Cr |
| Other assets | ₹9,938 Cr |
Market cap against peers
8 peers: same sector group, nearest by size.
P/E against peers
KALYANKJIL trades at 55.5x earnings against a peer median of 55.4x.
Not shown (no positive earnings and no EV / Sales): Meesho Limited.
Peer comparison
Same-sector peers by market cap, with the median.
| Company | Market cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|
| Kalyan Jewellers India LimitedKALYANKJILthis company | ₹51,179 Cr | 55.5x | 9.7x | 13.3% | 43.2x |
| Meesho LimitedMEESHO | ₹74,358 Cr | — | — | -14.2% | -290.4x |
| FSN E-Commerce Ventures LimitedNYKAA | ₹72,865 Cr | 1134.0x | 42.6x | 7.9% | 661.0x |
| Berger Paints India LtdBERGEPAINT | ₹60,724 Cr | 58.4x | 10.6x | 20.3% | 35.0x |
| Vishal Mega Mart LimitedVMM | ₹59,889 Cr | 110.0x | 9.0x | 5.7% | 102.3x |
| Patanjali Foods LimitedPATANJALI | ₹58,948 Cr | 41.3x | 4.9x | 7.5% | 38.4x |
| Voltas Ltd.VOLTAS | ₹48,324 Cr | 89.6x | 6.0x | 8.1% | 58.0x |
| ITC Hotels LimitedITCHOTELS | ₹40,064 Cr | 50.5x | 3.5x | 4.5% | 53.0x |
| Blue Star LtdBLUESTARCO | ₹36,897 Cr | 85.3x | 12.9x | 14.7% | 58.3x |
| Peer median | — | 55.4x | 6.3x | 11.8% | 36.3x |
Year-to-date ROI
KALYANKJIL since 1 January, against earlier years.
Historical volatility
KALYANKJIL's day-to-day swings over 30, 60 and 180 days.
Financial statements
Income statement, balance sheet and cash flow as reported, in ₹ crore, grouped into plain-language lines.
Figures in ₹ crore as reported, fiscal years ending March, newest first; the trailing twelve months (TTM) last.
Operating margin by fiscal year
| Date | Operating margin |
|---|---|
| FY2021 | 9.0% |
| FY2022 | 8.0% |
| FY2023 | 8.0% |
| FY2024 | 7.0% |
| FY2025 | 6.0% |
| Line | FY2025 |
|---|---|
| RevenueSales | ₹21,639 Cr |
| Costs | |
| Interest | ₹280 Cr |
| Expenses | ₹20,325 Cr |
| Operating profitOperating Profit | ₹1,314 Cr |
| Other income and charges | |
| Profit before tax | ₹932 Cr |
| Tax | |
| Net profitNet Profit | ₹689 Cr |
| Per share |
| Line | FY2025 |
|---|---|
| Liabilities and equityTotal Liabilities | ₹12,709 Cr |
| Equity capitalEquity Capital | ₹1,031 Cr |
| Reserves | ₹3,746 Cr |
| Borrowings | ₹3,301 Cr |
| Other liabilitiesOther Liabilities | ₹4,631 Cr |
| AssetsTotal Assets | ₹12,709 Cr |
| Fixed assetsFixed Assets | ₹1,914 Cr |
| Capital work in progressCWIP | ₹6 Cr |
| Investments | ₹851 Cr |
| Other assetsOther Assets | ₹9,938 Cr |
| Line | FY2025 |
|---|---|
| Operating cash flowCash from Operating Activity | ₹973 Cr |
| Investing cash flowCash from Investing Activity | -₹293 Cr |
| Financing cash flowCash from Financing Activity | -₹513 Cr |
| Change in cashNet Cash Flow | ₹167 Cr |
Learn while you research
Academy chapters picked for Kalyan Jewellers India Limited and the metrics on this page.
- 01 Taxes on Investments (India)LTCG, STCG, dividend tax, what every Indian investor needs.6 min read
- 02 Stock Valuation BasicsHow to think about what a fair price for a stock looks like.7 min read
- 03 Valuation Multiples ExplainedThis stock trades at a P/E of 55.5, learn when high multiples are justified.6 min read
- 04 Growth Investing37% revenue growth is in the top tier, learn how to value growth.7 min read
- 05 Cyclical vs Defensive StocksConsumer staples behave defensively across the business cycle.6 min read
- 06 Essential Stock RatiosP/E, P/B, EV/EBITDA, what they mean and when to use each.7 min read