NSE: KALYANKJIL | BSE: 543278

Expensive Performer

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529.80 -8.20 (-1.52%)

33.39% Fall from 52W High

2.2M NSE+BSE Volume

NSE 24 Apr, 2025 12:40 PM (IST)

54,645.4

Market Cap

Market Runner Up

1.1

Beta 1Year

High Volatility

Kalyan Jewellers India Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for KALYANKJIL, BSE:543278 Kalyan Jewellers India Ltd.

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Kalyan Jewellers India Ltd.

12 Dec 2024

529.80

-1.52%

KALYAN JEWELLERS INDIA LTD.

Sell: Kalyan Jewellers India Ltd.

Ventura

Strong revenue growth, though at declining margins

Kalyan Jewellers Ind.. has an average target of 746.00 from 2 brokers.

Kalyan Jewellers India Ltd.

14 Nov 2024

529.80

-1.52%

Miss on profits, but fast track continues

Buy: Kalyan Jewellers India Ltd.

Target

Motilal Oswal

Kalyan Jewellers (KALYANKJ)’s consolidated revenue grew 37% YoY to INR60.7b (in line). The Indian business delivered 39% YoY revenue growth, driven by store additions.

Kalyan Jewellers India Ltd. is trading below its 100 day SMA of 567.8

Kalyan Jewellers India Ltd.

02 Aug 2024

529.80

-1.52%

Outperforming peers; growth trend to sustain

Buy: Kalyan Jewellers India Ltd.

Motilal Oswal

Kalyan’s consolidated revenue grew 27% YoY to INR55.3b (in line) in 1QFY25. India business posted 29% YoY revenue growth, driven by store.

Number of FII/FPI investors decreased from 597 to 560 in Mar 2025 qtr

Kalyan Jewellers India Ltd.

10 Aug 2023

529.80

-1.52%

Execution outperformance likely to sustain stock rerating

Buy: Kalyan Jewellers India Ltd.

Target

ICICI Securities Limited

Kalyan reported outperformance in 1Q with 31% YoY (consol) revenue growth driven by execution of accelerated franchisee-led store expansion. SSSG of 15% was healthy. Gross and EBITDA margins declined largely due to increased contribution of lower margin franchisee revenues.

Kalyan Jewellers India Ltd. has gained 27.77% in the last 1 Year

Kalyan Jewellers India Ltd.

16 May 2023

529.80

-1.52%

Fundamentals and Technicals (divestment of non- core assets) getting better

Buy: Kalyan Jewellers India Ltd.

ICICI Securities Limited

Kalyan reported a good performance in 4Q with 18% YoY (consol) revenue growth (in line results). Gross margin of India business improved by 50bps YoY to 15.7% (largely due to better mix – non-south and studded partly offset due to franchisee stores). Non-south markets now contribute ~39% (vs ~34% in FY22).

Kalyan Jewellers India Ltd. is trading below its 100 day SMA of 567.8

Kalyan Jewellers India Ltd.

08 Feb 2023

529.80

-1.52%

Accelerated store expansion in CY23 to drive outperformance

Buy: Kalyan Jewellers India Ltd.

Target

ICICI Securities Limited

Kalyan reported a good performance in 3Q with 13% (consol) revenue growth. Gross margin of India business was flattish at 16.1% (largely due to increase in competitive pressure on gold prices). Non-south markets now contribute ~43%. We note (1) higher share of non-south revenues and (2) increased studded sales are natural tailwinds for Kalyan’s margin profile and the benefit should continue to accrue for next few years.

Kalyan Jewellers India Ltd. has gained 27.77% in the last 1 Year

Kalyan Jewellers India Ltd.

11 Nov 2022

529.80

-1.52%

Focus on (efficient) growth and governance

Buy: Kalyan Jewellers India Ltd.

Target

ICICI Securities Limited

We like the developments on improving governance and RoCE (1) commitment on the franchisee business, (2) improving capital and investment discipline including divestment of non-core assets (including corporate aircraft)

Kalyan Jewellers India Ltd. is trading above its 50 day SMA of 484.6

Kalyan Jewellers India Ltd.

17 Oct 2022

529.80

-1.52%

Continuous improvement in (execution) markers with franchise-led expansion underway

Buy: Kalyan Jewellers India Ltd.

Target

ICICI Securities Limited

Kalyan Jewellers continues to benefit from (1) robust demand environment (even vs pre-covid) – early signs of festive demand are also encouraging and (2) continuous thrust on store expansion

Kalyan Jewellers India Ltd. has lost -23.73% in the last 6 Months

Kalyan Jewellers India Ltd.

05 Aug 2022

529.80

-1.52%

Progress on most business parameters. Appoints Mr Vinod Rai (ex-CAG) as Chairman of Board

Buy: Kalyan Jewellers India Ltd.

ICICI Securities Limited

We believe Kalyan is delivering well on its key markers of (1) improving incremental return ratios and (2) expansion outside its core market of south India. We like the (1) commitment on the franchisee business, (2) improving capital and investment discipline and (3) potential outside south India.

Number of FII/FPI investors decreased from 597 to 560 in Mar 2025 qtr

Kalyan Jewellers India Ltd.

12 May 2022

529.80

-1.52%

Continuing execution improvements = higher probability of re-rating

Buy: Kalyan Jewellers India Ltd.

ICICI Securities Limited

Kalyan reported a decent operating performance in 4Q. Stronger growth in nonsouth markets (base were different though) and higher studded aided good gross margin print (15.6%) – we note that these are natural tailwinds for Kalyan’s margin profile and the benefit should continue to accrue for next few years. We like the increased focus on low-value studded to uptrade new consumers.

Kalyan Jewellers Ind.. has an average target of 746.00 from 2 brokers.

VOTE: Is Kalyan Jewellers India Ltd. worth buying?

558 Votes:

Buy 80.29%

Sell 11.11%

Hold 8.6%

RESEARCH REPORTS

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