Kalyan Jewellers India announced Q1FY23 results:

• Consolidated:
  • The Company recorded consolidated revenue of Rs 3,333 crores for Q1FY23, a growth of 104% as compared to Rs 1,637 crores in the corresponding quarter of the previous year.
  • Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) was recorded at Rs 264 crores, a growth of 283% as compared to Rs 69 crores in the same quarter of the previous year.
  • Consolidated PAT for the quarter was recorded at Rs 108 crores, as compared to a loss of Rs 51 crores for the same period of the previous year.
• Standalone:
  • Standalone revenue for the Company (India) was at Rs 2,719 crores, a growth of 113% as compared to Rs 1,274 crores in Q1 of the previous year.
  • EBITDA in India was Rs 218 crores for the quarter, a growth of 336% as compared to Rs 50 crores in the same quarter of the previous year.
  • PAT in India for the quarter was Rs 95 crores, as compared to a loss of Rs 43 crores in the corresponding quarter of the previous year.

Ramesh Kalyanaraman, Executive Director, Kalyan Jewellers India Limited said, “The recently concluded quarter has been a positive one for Kalyan Jewellers, having witnessed robust momentum in both footfalls and revenue across India and Middle East markets. Revenue momentum in the current quarter has remained encouraging, thus far, and we are keenly looking forward to the upcoming festive season.”

“The Company launched its first franchised showroom in Q1 of this year. We have built a meaningful pipeline of additional franchise showrooms on the back of very encouraging responses from potential franchise partners, and we are on track with our expansion plans for the current financial year. We believe the successful launch of the first set of franchised showrooms will give us the confidence to further enhance the pace of expansion through this significantly more capital efficient and return accretive path,” he added.

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