KALYANKJILConsumer Durables

Kalyan Jewellers India Limited

Gems, Jewellery And Watches · ISIN INE303R01014 · BSE 543278 · NSE EQ · FV ₹10
Last price
₹581
+0.09%today
What this company does

Kalyan Jewellers India Limited operates in Gems, Jewellery And Watches, part of the Consumer Durables sector. It booked ₹10,589 cr of revenue in its latest quarter (Q1 FY27) and kept 3.3% of sales as profit. It is the 2nd largest of 9 Gems, Jewellery And Watches companies we track, by market value.

In the report:
61out of 100
Equitytale Health Score
Mixed

Healthier than 61% of companies in Consumer Durables, on all six measures of filed financials. Each measure is ranked against the 25–41 companies that reported it.

Measures financial condition, not whether to buy. Learn what this score means · How this is calculated

Price momentum
neutral
RSI (14)
45

At close. Not part of the score.

Profitability & returns60

How much profit it earns on the money it employs

Balance sheet43

How much it owes, and whether earnings cover the interest

Cash quality68

Whether reported profit actually arrives as cash

Growth & consistency84

Whether sales and profit have grown, and how steadily

Valuation29

What today's price implies, against our models or its peers

Governance & risk100

How much of the promoters' stake is pledged, and how much they hold · highest in its sector on what we could measure

Is this company doing well?
not investment advice
Strengths
Makes a profit
Sales up 46% vs last year
Profit up 32% vs last year
Promoters hold 63%
Strong 22% return on equity
Virtually debt-free
Turns profit into real cash
Watch-outs
! Thin 3.3% net margin
! 24.9% of promoter stake pledged

What if I invest in KALYANKJIL?

Set a growth rate and see what a monthly SIP would add up to. Your assumption, our arithmetic.

You would put in
₹12.00 lakh
120 instalments
At 15% a year, it would become
₹26.30 lakh

The slider starts at 15%, taken from this company's own free-cash-flow trend. That is history, not a forecast — this is your assumption, and the figure above is arithmetic on it. Returns are not steady year to year, and a real holding would not grow in a straight line. We do not publish price targets or predict returns.

Key ratios · latest quarter + price
₹581 +0.09%
latest close · 2026-09-17
1-year return
+823.7%
52-wk low ₹5552-wk high ₹649
Is it cheap or expensive?
What you pay for the profits, book value and cash flow. Higher isn't automatically worse — it can signal faster growth.
P/E ratio43.0High
LowAverageHigh
P/B ratio9.52High
Below bookModerateHigh
EV / EBITDA21.9High
LowAverageHigh
How good is the business?
How much profit it earns from its money and its sales.
Return on equity22.1%Strong
WeakFairStrong ▸15%
Return on capital28.1%Strong
WeakFairStrong
Net margin3.3%Thin
ThinDecentStrong
EBITDA margin6.5%Thin
ThinDecentHealthy
Is it financially safe?
How much it owes, and whether it can comfortably cover it.
Debt to equity0.08Comfortable
LowModerateHigh ▸1
Interest cover5.3×Strong
RiskyOkayStrong ▸5×
Current ratio1.30Healthy
Tight ◂1HealthyAmple
More figures
Market cap
₹60,049 cr
Book value
₹61
EPS
₹3.38
latest quarter
Net debt
₹217 cr
owes more than its cash
Enterprise value
₹60,266 cr
EBITDA
₹2,753 cr
annualised
EBIT
₹2,293 cr
annualised
Operating margin
5.4%
Return on assets
6.7%
Earnings yield
2.33%
P/S
1.42
Sales / share
₹410.1
Tax rate
25.0%
Face value
₹10
Shares
103.3 cr
Working capital
₹3,763 cr
Current assets
₹16,331 cr
Current liabilities
₹12,568 cr
Delivery %
26.1%
Strong / safeFairWeak / riskyValuation — a level, not good/badBands are general rules of thumb, not advice.

P/E, ROE, ROCE and margins are annualised from the latest quarter; per-share and balance-sheet ratios use the most recent balance sheet on file · prices as of 2026-09-17.

Worth vs price · from the FY 2025 report & filings
not investment advice
Hard to value confidentlyLow confidence
The market price is far above what these earnings- and book-based models support — a fast-growing or asset-light business can trade well above them for years, so we won't put a confident number on how overpriced it is.
Models span ₹87₹112, midpoint ₹100

An educational model from the company's own filings, every assumption shown — not investment advice or a price target. Prices can stay above or below any model for years.

P&L · Q1 FY27 (consolidated)
Revenue from Operations₹10,589 cr
Other Income₹56 cr
Total Income₹10,645 cr
Cost of Materials₹9,100 cr
Purchases of Stock-in-Trade₹93 cr
Inventory Change (±)₹132 cr
Employee Benefit Expense₹315 cr
Finance Costs₹108 cr
Depreciation & Amortisation₹115 cr
Other Expenses₹316 cr
Total Expenses₹10,180 cr
Profit before Tax₹465 cr
Tax Expense₹116 cr
Net Profit₹349 cr
Net margin on total income3.3%
Where the money goes · Q1 FY27
% of total income
Materials + stock-in-trade₹9,325 cr87.6%
Employee benefit expense₹315 cr3.0%
Finance costs₹108 cr1.0%
Depreciation & amortisation₹115 cr1.1%
Other expenses₹316 cr3.0%
Tax expense₹116 cr1.1%
Profit for the period₹349 cr3.3%
Total income ₹10,645 cradds up to ₹100 ✓
Quarterly results · consolidated (₹ cr)
MetricQ3 FY26Q4 FY26Q1 FY27
Revenue10,343 cr10,275 cr10,589 cr
Total income10,408 cr10,321 cr10,645 cr
Expenses9,806 cr9,782 cr10,180 cr
Profit before tax560 cr539 cr465 cr
Tax144 cr129 cr116 cr
Net profit (owners' share)416 cr410 cr349 cr
Net margin (owners' share, on revenue)4.0%4.0%3.3%
EPS (₹)4.033.973.38
YoY (latest quarter): total income +45.5% · net profit +32.0%
Balance sheet & cash flow · as of Mar 2026
Low debt
Total assets
₹20,717 cr
Shareholder equity
₹6,309 cr
parent shareholders
Total debt
₹524 cr
Cash
₹307 cr
Cash flow · H1 FY26
Operating
₹741 cr
Investing
₹86 cr
Financing
₹-830 cr
Peer comparison
Gems, Jewellery And Watches · by market value
CompanyPriceMarket capP/E
Titan Company Limited₹4,841₹4.30 L cr60.4
Kalyan Jewellers India Limitedthis company₹581₹60,049 cr43.0
Thangamayil Jewellery Limited₹4,811₹14,953 cr43.9
Lalithaa Jewellery Mart Limited₹290₹14,519 cr17.5
BlueStone Jewellery and Lifestyle Limited₹831₹12,667 cr451.7
SKY GOLD AND DIAMONDS LIMITED₹793₹12,286 cr29.7
PC Jeweller Limited₹12₹11,992 cr13.4
P N Gadgil Jewellers Limited₹601₹8,158 cr19.4
Ethos Limited₹2,651₹7,093 cr63.1
Same industry · latest reported numbers · not a recommendation.
Corporate actions
Dividend yield
0.43%
trailing 12 months
Dividend / share (TTM)
₹2.5
Last dividend
₹2.5
ex 11 Sep 2026
ActionDetailEx-date
Dividend₹2.5 / share11 Sep 2026
Dividend₹1.5 / share4 Sep 2025
Dividend₹1.2 / share9 Aug 2024
Dividend₹0.5 / share4 Aug 2023
Who owns it · 2026-06-30
24.9% pledged
Promoter
62.9%
FII / Foreign
10.8%
DII / Domestic
15.8%
Retail / others
10.5%
Promoter stake up 2.3% over the last 12 quarters.
Smart-money activity
Insider trades
BoughtTS Kalyanaraman · Director2.33 L · ₹10.1 cr12 Feb 26
BoughtTS Kalyanaraman · Director2.31 L · ₹10.0 cr11 Feb 26
BoughtTS Kalyanaraman · Director2.30 L · ₹10.0 cr10 Feb 26
Bulk / block deals
short · NSE1010 Sep 26
short · NSE19 Sep 26
short · NSE18 Sep 26
Stake changes
BoughtMotilal Oswal Asset Management Company Limited→ 7.56% · 32.52 L24 Apr 25
BoughtCatalyst Trusteeship Ltd→ 10.73% · 2.55 cr3 Feb 25
BoughtKJG Consulting Private Limited along with PAC · promoter→ 2.36% · 2.43 cr26 Sep 24
Promoter pledges
ReleasedHSBC InvestDirect Financial Services ( India)Ltd60.98 L · 7.99% held3 Feb 25
PledgedCatalyst Trusteeship Ltd ( Debenture Trustee) acting on behalf of OCM India Opportunities XII Alternate Investment Fund- Scheme I ( Which Includes its successores assignees and Transferes ) Lenders /Debenture Holder) Additonal Person may become debenture holders from time to time , including pursuant to the issuance of further debentures.97.20 L · 6.15% held17 Jan 25
PledgedCatalyst Trusteeship Limited (Debenture Trustee) acting on behalf of OCM India Opportunities XII Alternate Investment Fund - Scheme I (which includes its successors, assignees, and transferees) (Lender / Debenture holder). Additional persons may become debenture holders from time to time, including pursuant to the issuance of further debentures.97.20 L · 5.99% held17 Jan 25
What shareholders were asked to approve
1 proposal passed only on promoter votes

A company cannot decide everything on its own. Things like a top executive’s pay, issuing new shares, or re-appointing a director have to be put to the people who own the company, and they vote — one vote per share. So whoever owns the most shares has the most say.

Postal ballot · 14 Mar 2026
See the official result
1
Appointment of Ms. Radhika Ramani (DIN: 11224935) as Non-Executive Independent Director for a term on FIVE (5) Years
Backed by 100% of shareholders other than promotersneeded 75%
23.96 cr votes for, 2.23 L against · 0% of mutual funds and other big investors said no
2
Appointment of Mr. C. R Rajagopal (DIN:08853688) as Non-Executive Independent Director for a term on FIVE (5) Years
Backed by 100% of shareholders other than promotersneeded 75%
23.96 cr votes for, 2.48 L against · 0% of mutual funds and other big investors said no

Every vote count above is taken from the result the company filed with the stock exchange, certified by an independent counter. To work out what would have happened without the promoters, we simply remove their votes and re-apply the same legal bar the proposal had to clear. Nothing here is an estimate or an opinion.

Who controls this company, and what it pays them

Most Indian companies are controlled by a family or group — the promoters. The exchange requires them to be listed by name, including members who own no shares at all, and requires the company to disclose any business it does with them.

The promoter group — 38 named members
owning 62.9% between them · as of 2026-06-30
Kalyanaraman T S22.37%
Seetharam T K18.02%
T K Ramesh18.02%
Kjg Consulting Private Limited2.35%
Karthik Ramani1.20%
Radhika Thrikur Kalyanaraman0.71%
Dhanya Manoj0.02%
Geethalakshmi T S0.02%

Names and holdings from the company’s shareholding pattern filed with the exchange; transactions from the related-party note in its annual report. Every figure is as filed — these are legal, disclosed dealings, and what to make of them is your call.

How the stock has moved · adjusted for splits & bonuses
Data from primary exchange filings · analysis tool, not investment advice.