Shares of Kalyan Jewellers India experienced a decline of 2.85% to Rs 505.35 in Tuesday's trading session, with the stock among top losers on Nifty Midcap 150. The stock's movement reflects a very bearish sentiment, according to a recent Moneycontrol analysis.
Recent Financial Performance:
Let's delve into the financial performance of Kalyan Jewellers India based on available data. The data includes both quarterly and yearly consolidated results.
Consolidated Quarterly Results:
Here’s a look at the consolidated quarterly results for key financial metrics:
| Heading | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 |
|---|---|---|---|---|---|
| Revenue | Rs 5,535.48 Crore | Rs 6,065.48 Crore | Rs 7,286.88 Crore | Rs 6,181.53 Crore | Rs 7,268.48 Crore |
| Net Profit | Rs 177.56 Crore | Rs 130.33 Crore | Rs 218.68 Crore | Rs 187.61 Crore | Rs 264.08 Crore |
| EPS | 1.73 | 1.27 | 2.12 | 1.82 | 2.56 |
The revenue for the quarter-ending June 2025 stood at Rs 7,268.48 Crore, showcasing a notable increase compared to the Rs 5,535.48 Crore recorded in June 2024. Similarly, the net profit for the quarter-ending June 2025 was Rs 264.08 Crore, up from Rs 177.56 Crore in June 2024.
Consolidated Yearly Results:
The consolidated yearly results provide insights into the company's longer-term financial health:
| Heading | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | Rs 8,573.31 Crore | Rs 10,817.93 Crore | Rs 14,071.45 Crore | Rs 18,548.29 Crore | Rs 25,045.07 Crore |
| Net Profit | Rs -6.07 Crore | Rs 224.03 Crore | Rs 431.93 Crore | Rs 596.29 Crore | Rs 714.17 Crore |
| EPS | -0.07 | 2.18 | 4.20 | 5.80 | 6.93 |
| BVPS | 27.44 | 30.46 | 35.28 | 40.66 | 46.57 |
| ROE | -0.22 | 7.14 | 11.91 | 14.25 | 14.88 |
| Debt to Equity | 1.14 | 1.07 | 0.97 | 0.79 | 0.20 |
The annual figures reveal a consistent upward trend in revenue, with Rs 25,045.07 Crore reported for the year-ending 2025 compared to Rs 18,548.29 Crore in 2024. Net profit also increased significantly, from Rs 596.29 Crore in 2024 to Rs 714.17 Crore in 2025.
Standalone Yearly Income Statement:
Here's a look at the standalone yearly income statement:
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| Sales | 7,325 | 9,056 | 11,584 | 15,782 | 21,638 |
| Other Income | 52 | 42 | 42 | 76 | 148 |
| Total Income | 7,378 | 9,098 | 11,626 | 15,859 | 21,787 |
| Total Expenditure | 6,874 | 8,545 | 10,867 | 14,873 | 20,605 |
| EBIT | 503 | 553 | 759 | 985 | 1,181 |
| Interest | 316 | 263 | 234 | 241 | 249 |
| Tax | 49 | 75 | 135 | 190 | 243 |
| Net Profit | 138 | 214 | 389 | 554 | 688 |
The sales increased by approximately 37% from Rs 15,782 in March 2024 to Rs 21,638 in March 2025.
Standalone Quarterly Income Statement:
Here's a look at the standalone quarterly income statement:
| Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | |
|---|---|---|---|---|---|
| Sales | 4,687 | 5,226 | 6,392 | 5,350 | 6,142 |
| Other Income | 25 | 27 | 34 | 42 | 52 |
| Total Income | 4,712 | 5,254 | 6,427 | 5,392 | 6,194 |
| Total Expenditure | 4,428 | 5,024 | 6,077 | 5,074 | 5,777 |
| EBIT | 283 | 229 | 350 | 317 | 416 |
| Interest | 60 | 62 | 58 | 68 | 72 |
| Tax | 58 | 46 | 73 | 64 | 87 |
| Net Profit | 165 | 120 | 217 | 185 | 256 |
The sales increased from Rs 4,687 in June 2024 to Rs 6,142 in June 2025.
Cash Flow:
The cash flow statement provides an overview of the company's cash inflows and outflows:
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| Operating Activities | 515 | 108 | 714 | 985 | 973 |
| Investing Activities | -309 | 143 | -361 | -116 | -293 |
| Financing Activities | -22 | -473 | -375 | -832 | -513 |
| Others | 0 | 0 | 0 | 0 | 0 |
| Net Cash Flow | 183 | -221 | -23 | 36 | 167 |
The balance sheet provides a snapshot of the company's assets, liabilities, and equity:
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| Share Capital | 1,030 | 1,030 | 1,030 | 1,030 | 1,031 |
| Reserves & Surplus | 1,995 | 2,233 | 2,636 | 3,136 | 3,745 |
| Current Liabilities | 4,238 | 3,917 | 4,870 | 5,790 | 6,640 |
| Other Liabilities | 648 | 575 | 660 | 970 | 1,291 |
| Total Liabilities | 7,912 | 7,755 | 9,197 | 10,928 | 12,709 |
| Fixed Assets | 1,483 | 1,403 | 1,311 | 1,664 | 1,920 |
| Current Assets | 5,481 | 5,305 | 6,694 | 7,859 | 8,789 |
| Other Assets | 946 | 1,047 | 1,192 | 1,405 | 1,999 |
| Total Assets | 7,912 | 7,755 | 9,197 | 10,928 | 12,709 |
| Contingent Liabilities | 1,383 | 1,330 | 1,411 | 1,766 | 0 |
Key financial ratios provide deeper insights into the company's performance:
| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|
| Basic EPS (Rs.) | 1.63 | 2.08 | 3.78 | 5.38 | 6.68 |
| Diluted Eps (Rs.) | 1.44 | 2.08 | 3.78 | 5.38 | 6.68 |
| Book Value [Excl. Reval Reserve]/Share (Rs.) | 29.37 | 31.68 | 35.60 | 40.45 | 46.32 |
| Dividend/Share (Rs.) | 0.00 | 0.00 | 0.50 | 1.20 | 1.50 |
| Face Value | 10 | 10 | 10 | 10 | 10 |
| Gross Profit Margin (%) | 9.24 | 8.10 | 8.42 | 7.55 | 6.59 |
| Operating Margin (%) | 6.87 | 6.11 | 6.84 | 6.24 | 5.46 |
| Net Profit Margin (%) | 1.88 | 2.36 | 3.36 | 3.51 | 3.18 |
| Return on Networth / Equity (%) | 4.56 | 6.56 | 10.63 | 13.29 | 14.41 |
| ROCE (%) | 13.70 | 14.41 | 18.31 | 19.18 | 19.47 |
| Return On Assets (%) | 1.74 | 2.76 | 4.23 | 5.06 | 5.41 |
| Current Ratio (X) | 1.29 | 1.35 | 1.37 | 1.36 | 1.32 |
| Quick Ratio (X) | 0.26 | 0.14 | 0.20 | 0.19 | 0.18 |
| Debt to Equity (x) | 0.79 | 0.73 | 0.66 | 0.52 | 0.18 |
| Interest Coverage Ratios (X) | 2.14 | 2.78 | 4.16 | 4.93 | 5.72 |
| Asset Turnover Ratio (%) | 1.00 | 1.16 | 1.37 | 1.57 | 1.83 |
| Inventory Turnover Ratio (X) | 1.65 | 1.78 | 2.07 | 2.33 | 2.68 |
| 3 Yr CAGR Sales (%) | -5.79 | 10.27 | 21.51 | 46.78 | 54.58 |
| 3 Yr CAGR Net Profit (%) | 0.23 | 118.33 | 57.90 | 100.21 | 79.32 |
| P/E (x) | 41.78 | 28.25 | 27.87 | 79.52 | 69.95 |
| P/B (x) | 2.32 | 1.85 | 2.96 | 10.58 | 10.09 |
| EV/EBITDA (x) | 12.55 | 10.86 | 12.96 | 38.24 | 33.91 |
| P/S (x) | 0.96 | 0.67 | 0.94 | 2.79 | 2.23 |
The debt-to-equity ratio has decreased from 0.79 in March 2021 to 0.18 in March 2025. The P/E ratio stands at 69.95 as of March 2025.
Corporate Actions:
Kalyan Jewellers India has announced several corporate actions. On August 18, 2025, the company announced a change in the name of its wholly-owned subsidiary. The record date was announced on August 11, 2025, along with the intimation of the 17th AGM.
The company has also declared dividends. A final dividend of Rs 1.50 per share (15%) was announced on May 8, 2025, effective September 4, 2025. Prior to this, a final dividend of Rs 1.20 per share (12%) was announced on May 10, 2024, effective August 9, 2024, and Rs 0.50 per share (5%) was announced on May 15, 2023, effective August 4, 2023.
With the stock currently trading at Rs 505.35, Kalyan Jewellers India faces bearish headwinds amidst recent financial announcements and corporate actions.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
