Kalyan Jewellers India Ltd. (KALYANKJIL) AI Stock Analysis

22 Followers

Kalyan Jewellers India Ltd.

(NSE:KALYANKJIL)

Select Model

Rating:63Neutral

Price Target:INR 706.00▲(6.56% Upside)

Action:reiterated

Date:11/12/26

The score is primarily driven by strong growth and profitability, offset by a notable FY2026 cash-flow reversal and ongoing margin pressure. Technicals are supportive due to a strong uptrend, but momentum is stretched. Valuation is a headwind given the high P/E and low dividend yield.

Positive Factors

Strong revenue growthSustained revenue expansion indicates that Kalyan is broadening its customer reach and scaling its jewellery retail platform. Growth from 85.4B to 357.4B over the reported period provides a substantial base for continued operating leverage and supports the brand’s competitive position.

Negative Factors

Sharp cash-flow reversalNegative operating and free cash flow despite healthy reported earnings signals weaker cash conversion and possible absorption through working capital, inventory, or receivables. If sustained, this could limit internally funded expansion and increase reliance on external balance-sheet financing.

Kalyan Jewellers India Ltd. (KALYANKJIL) vs. iShares MSCI India ETF (INDA)

Market Cap: INR 718.74B
Dividend Yield: 0.38%
Average Volume (3M): 638.93K
Price to Earnings (P/E): 42.8
Beta (1Y): 1.75
Revenue Growth: 45.25%
EPS Growth: 71.87%
Country: India
Employees: 14,668
Sector: General
Sector Strength: 55
Industry: Luxury Goods

Kalyan Jewellers India Ltd. Business Overview & Revenue Model

Company Description

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,...

Kalyan Jewellers India Ltd. Financial Statement Overview

Summary

Strong revenue expansion and a clear swing to solid profitability support the score, and leverage has improved with rising ROE. However, the latest year shows a sharp deterioration in operating cash flow and free cash flow despite healthy net income, and margins have compressed over time—both are meaningful quality-of-earnings risks.

Income Statement

78Positive

Balance Sheet

67Positive

Cash Flow

45Neutral

Financial statement breakdown
Breakdown	TTM	Mar 2026	Mar 2025	Mar 2024	Mar 2023	Mar 2022
Income Statement
Total Revenue	390.63B	357.43B	249.46B	184.73B	140.25B	107.81B
Gross Profit	45.81B	33.41B	31.85B	26.38B	21.53B	16.55B
EBITDA	27.92B	26.58B	16.45B	13.70B	11.03B	8.34B
Net Income	14.35B	13.50B	7.15B	5.97B	4.33B	2.24B
Balance Sheet
Total Assets	0	207.17B	151.26B	128.18B	107.13B	89.45B
Cash, Cash Equivalents and Short-Term Investments	8.61B	8.61B	12.01B	1.78B	1.41B	1.49B
Total Debt	0	61.17B	49.59B	44.86B	42.95B	40.29B
Total Liabilities	-63.09B	144.08B	103.22B	86.30B	70.78B	58.07B
Stockholders Equity	63.09B	63.09B	48.04B	41.89B	36.35B	31.37B
Cash Flow
Free Cash Flow	5.17B	-5.68B	7.45B	9.50B	8.26B	1.73B
Operating Cash Flow	7.41B	-1.62B	12.09B	13.22B	10.13B	2.64B
Investing Cash Flow	856.35M	-1.52B	-1.77B	-1.37B	-3.84B	635.74M
Financing Cash Flow	-8.30B	2.50B	-8.40B	-11.48B	-6.38B	-5.44B

Kalyan Jewellers India Ltd. Technical Analysis

Technical Analysis SentimentPositive

Last Price662.55

Price Trends

50DMA565.68Positive

100DMA545.16Positive

200DMA467.40Positive

Market Momentum

MACD9.62Negative

RSI75.35Negative

STOCH92.02Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:KALYANKJIL, the sentiment is Positive. The current price of 662.55 is above the 20-day moving average (MA) of 544.72, above the 50-day MA of 565.68, and above the 200-day MA of 467.40, indicating a bullish trend. The MACD of 9.62 indicates Negative momentum. The RSI at 75.35 is Negative, neither overbought nor oversold. The STOCH value of 92.02 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:KALYANKJIL.

Kalyan Jewellers India Ltd. Peers Comparison

Overall Rating

UnderperformOutperform

Sector (55)

Financial Indicators

IN:KALYANKJIL against its peers
Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
IN:TITAN	73Outperform	INR 4.44T	62.63	―	0.30%	38.88%	70.34%
IN:TBZ	70Outperform	INR 42.42B	22.10	―	0.38%	24.14%	110.35%
IN:PCJEWELLER	65Neutral	INR 148.23B	15.32	―	―	29.27%	3.00%
IN:KALYANKJIL	63Neutral	INR 631.01B	42.77	―	0.38%	45.25%	71.87%
IN:THANGAMAYL	56Neutral	INR 131.53B	34.10	―	0.42%	78.12%	107.94%
Sector *	55Neutral	$6.65B	3.83	-15.92%	6.20%	10.91%	7.18%
IN:PNGJL	53Neutral	INR 90.04B	17.64	―	―	50.66%	63.28%

* General Sector Average

Performance Comparison

IN:KALYANKJIL and its peers over the selected period
Ticker	Company Name	Price	Change	% Change
IN:KALYANKJIL	Kalyan Jewellers India Ltd.	662.55	169.31	34.33%
IN:PCJEWELLER	PC Jeweller Ltd.	15.79	4.22	36.47%
IN:PNGJL	P N Gadgil Jewellers Limited	629.30	-12.80	-1.99%
IN:TBZ	Tribhovandas Bhimji Zaveri Limited	651.30	462.00	244.06%
IN:THANGAMAYL	Thangamayil Jewellery Ltd.	4300.60	1013.00	30.81%
IN:TITAN	Titan Company Limited	4965.05	1153.16	30.25%

Kalyan Jewellers India Ltd. Corporate Events

Kalyan Jewellers Reschedules Q2 FY27 Earnings Call to November 11

Oct 26, 2026

Kalyan Jewellers India Ltd. has revised the schedule for its earnings conference call to discuss financial and operational performance for the quarter ended September 30, 2026. The call, which will cover Q2 FY27 results, is now rescheduled to Wednesd...

Kalyan Jewellers’ 18th AGM Clears All Resolutions Via E-Voting

Sep 19, 2026

Kalyan Jewellers India Ltd. has reported that its 18th Annual General Meeting was held on September 19, 2026 via video conferencing, reflecting continued use of digital platforms for shareholder engagement. The meeting recorded attendance from both p...

Glossary

BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.

Date of analysis: Nov 12, 2026

Kalyan Jewellers India Ltd. AI Stock Analysis