Want to see IN:KALYANKJIL full AI Analyst Report?
Top Page
Kalyan Jewellers India Ltd.
(KALYANKJIL)
Select Model
Select Model
Rating:66Neutral
Price Target:
₹658.00
▲(14.81% Upside)
Action:Reiterated
Date:07/29/26
The score is anchored by strong growth and profitability but is held back by a significant FY2026 cash-flow reversal and ongoing margin compression. Technicals are a major positive with the price well above key moving averages, while valuation is a clear headwind due to a high P/E and low dividend yield.
Positive Factors
Revenue Growth & Profitability
Sustained revenue expansion to 357.4B and positive net income of 13.5B indicate durable demand capture and scalable retail economics. Large top-line growth provides room to invest in stores, product mix and customer programs, supporting medium-term earnings power despite cyclical commodity inputs.
Negative Factors
Cash Conversion Weakness
A sharp FY2026 reversal to negative operating and free cash flow undermines earnings quality and raises liquidity risk. Persistent working-capital absorption or inventory buildup would force reliance on external funding, constrain reinvestment and weaken the firm's ability to sustain dividends or opportunistic expansion.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue Growth & Profitability
Sustained revenue expansion to 357.4B and positive net income of 13.5B indicate durable demand capture and scalable retail economics. Large top-line growth provides room to invest in stores, product mix and customer programs, supporting medium-term earnings power despite cyclical commodity inputs.
Read all positive factors
Kalyan Jewellers India Ltd. (KALYANKJIL) vs. iShares MSCI India ETF (INDA)
Market Cap
₹620.32B
Dividend Yield0.42%
Average Volume (3M)754.30K
Price to Earnings (P/E)43.2
Beta (1Y)1.60
Revenue Growth45.75%
EPS Growth78.91%
CountryIN
Employees14,668
SectorGeneral
Sector StrengthN/A
IndustryLuxury Goods
Share Statistics
EPS (TTM)13.90
Shares Outstanding1,032,751,000
10 Day Avg. Volume541,033
30 Day Avg. Volume754,297
Financial Highlights & Ratios
PEG Ratio0.32
Price to Book (P/B)6.15
Price to Sales (P/S)1.09
P/FCF Ratio-68.29
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)15.55
Revenue Forecast (FY)₹447.39B
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 jewelri...
How the Company Makes Money
Kalyan Jewellers primarily makes money by selling jewellery and related products through its network of company-operated and franchise showrooms (where applicable) and associated sales channels. The main revenue stream is the retail sale of gold j...
Kalyan Jewellers India Ltd. Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
67
Positive
Cash Flow
45
Neutral
| 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 | 0.00 | 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 | 0.00 | 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. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | ₹34.86B | 16.43 | ― | 0.48% | 29.14% | 189.45% | |
66 Neutral | ₹620.32B | 43.25 | ― | 0.42% | 45.75% | 78.91% | |
61 Neutral | ₹159.62B | 40.75 | ― | 0.35% | 83.21% | 252.74% | |
60 Neutral | ₹4.44T | 77.05 | ― | 0.30% | 45.05% | 55.13% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
55 Neutral | ₹133.03B | 13.84 | ― | 0.64% | 36.47% | -8.71% | |
53 Neutral | ₹90.31B | 18.67 | ― | ― | 47.77% | 76.71% |
* General Sector Average
IN:KALYANKJIL
Kalyan Jewellers India Ltd.
600.65
97.95
19.48%
IN:PCJEWELLER
PC Jeweller Ltd.
13.70
0.49
3.71%
IN:PNGJL
P N Gadgil Jewellers Limited
613.50
12.70
2.11%
IN:TBZ
Tribhovandas Bhimji Zaveri Limited
522.35
336.38
180.88%
IN:THANGAMAYL
Thangamayil Jewellery Ltd.
5,135.45
2,971.36
137.30%
IN:TITAN
Titan Company Limited
5,005.00
1,482.31
42.08%
Kalyan Jewellers India Ltd. Corporate Events
Kalyan Jewellers Schedules Q1 FY27 Earnings Call for August 4
Jul 27, 2026
Kalyan Jewellers India Ltd. has announced that it will host an earnings conference call on Tuesday, August 4, 2026, at 5:15 p.m. IST to discuss its financial and operational performance for the first quarter of FY 2026-27. The call, organized in l...
Kalyan Jewellers Posts 38% Q1 Revenue Surge, Boosts Recycled Gold and Network Expansion
Jul 7, 2026
Kalyan Jewellers India Ltd. reported a strong first quarter for FY2027, with consolidated revenue up about 38% year-on-year, driven largely by its India operations. Domestic revenue grew more than 38% and same-store sales rose around 28%, despite ...
Kalyan Jewellers Files SEBI-Mandated Demat Compliance Certificate
Jul 3, 2026
Kalyan Jewellers India Ltd. has submitted a compliance certificate to the stock exchanges under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended 30 June 2026. The filing confirms that its registr...
Kalyan Jewellers Converts Subsidiary Loans to Equity to Strengthen Capital Structure
Jun 26, 2026
Kalyan Jewellers India Ltd. has approved the conversion of pre-existing inter-company loans into equity shares of its wholly owned subsidiary, Kalyan Jewelers Inc., which is engaged in jewellery retail and reported turnover of USD 260.24 million i...
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.