Kalyan Jewellers India Ltd: Intrinsic Value & Share Price Analysis

Share Price and Basic Stock Data

Last Updated: September 4, 2025, 9:37 pm

Quick Insight

Kalyan Jewellers India Ltd's current market dynamics reveal a robust but potentially overvalued position with a share price of 510 and a high P/E ratio of 65.6. Despite a respectable ROE and ROCE of 16.0% and 15.0% respectively, the company's OPM at 7% may indicate room for operational improvement. With a significant portion of borrowings at ₹4,959Cr and a CCC of 129 days, managing working capital efficiently becomes crucial. The diverse shareholder structure, including prominent promoter and FII holdings, adds layers to the company's governance and strategic direction. Overall, while Kalyan Jewellers displays strength in certain areas, prudent monitoring of its financial leverage and operational efficiency is advisable to sustain long-term value creation.

Competitors of Kalyan Jewellers India Ltd

All Competitor Stocks of Kalyan Jewellers India Ltd

Quarterly Result

Last Updated: August 19, 2025, 12:44 pm

Below is a detailed analysis of the quarterly data for Kalyan Jewellers India Ltd based on the most recent figures (Jun 2025) and their trends compared to the previous period:

• For Sales, as of Jun 2025, the value is 7,268.00 Cr.. The value appears strong and on an upward trend. It has increased from 6,182.00 Cr. (Mar 2025) to 7,268.00 Cr., marking an increase of 1,086.00 Cr..
• For Expenses, as of Jun 2025, the value is 6,760.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 5,782.00 Cr. (Mar 2025) to 6,760.00 Cr., marking an increase of 978.00 Cr..
• For Operating Profit, as of Jun 2025, the value is 508.00 Cr.. The value appears strong and on an upward trend. It has increased from 399.00 Cr. (Mar 2025) to 508.00 Cr., marking an increase of 109.00 Cr..
• For OPM %, as of Jun 2025, the value is 7.00%. The value appears strong and on an upward trend. It has increased from 6.00% (Mar 2025) to 7.00%, marking an increase of 1.00%.
• For Other Income, as of Jun 2025, the value is 46.00 Cr.. The value appears strong and on an upward trend. It has increased from 41.00 Cr. (Mar 2025) to 46.00 Cr., marking an increase of 5.00 Cr..
• For Interest, as of Jun 2025, the value is 104.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 96.00 Cr. (Mar 2025) to 104.00 Cr., marking an increase of 8.00 Cr..
• For Depreciation, as of Jun 2025, the value is 98.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 93.00 Cr. (Mar 2025) to 98.00 Cr., marking an increase of 5.00 Cr..
• For Profit before tax, as of Jun 2025, the value is 353.00 Cr.. The value appears strong and on an upward trend. It has increased from 251.00 Cr. (Mar 2025) to 353.00 Cr., marking an increase of 102.00 Cr..
• For Tax %, as of Jun 2025, the value is 25.00%. The value remains steady. There is no change compared to the previous period (Mar 2025) which recorded 25.00%.
• For Net Profit, as of Jun 2025, the value is 264.00 Cr.. The value appears strong and on an upward trend. It has increased from 188.00 Cr. (Mar 2025) to 264.00 Cr., marking an increase of 76.00 Cr..
• For EPS in Rs, as of Jun 2025, the value is 2.56. The value appears strong and on an upward trend. It has increased from 1.82 (Mar 2025) to 2.56, marking an increase of 0.74.

Overall, while many items appear to show a positive trend, any significant downward movement warrant further investigation.

Profit & Loss - Annual Report

Last Updated: August 23, 2025, 12:50 pm

Growth

Last Updated: September 5, 2025, 3:55 pm

Balance Sheet

Last Updated: June 24, 2025, 9:24 am

Below is a detailed analysis of the balance sheet data for Kalyan Jewellers India Ltd based on the most recent figures (Mar 2025) and their trends compared to the previous period:

• For Equity Capital, as of Mar 2025, the value is 1,031.00 Cr.. The value appears strong and on an upward trend. It has increased from 1,030.00 Cr. (Mar 2024) to 1,031.00 Cr., marking an increase of 1.00 Cr..
• For Reserves, as of Mar 2025, the value is 3,772.00 Cr.. The value appears strong and on an upward trend. It has increased from 3,159.00 Cr. (Mar 2024) to 3,772.00 Cr., marking an increase of 613.00 Cr..
• For Borrowings, as of Mar 2025, the value is 4,959.00 Cr.. The value appears to be increasing, which may not be favorable. However, Borrowings exceed Reserves, which may signal higher financial risk. It has increased from 4,486.00 Cr. (Mar 2024) to 4,959.00 Cr., marking an increase of 473.00 Cr..
• For Other Liabilities, as of Mar 2025, the value is 5,363.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 4,142.00 Cr. (Mar 2024) to 5,363.00 Cr., marking an increase of 1,221.00 Cr..
• For Total Liabilities, as of Mar 2025, the value is 15,126.00 Cr.. The value appears to be increasing, which may not be favorable. It has increased from 12,818.00 Cr. (Mar 2024) to 15,126.00 Cr., marking an increase of 2,308.00 Cr..
• For Fixed Assets, as of Mar 2025, the value is 2,846.00 Cr.. The value appears strong and on an upward trend. It has increased from 2,299.00 Cr. (Mar 2024) to 2,846.00 Cr., marking an increase of 547.00 Cr..
• For CWIP, as of Mar 2025, the value is 8.00 Cr.. The value appears to be declining and may need further review. It has decreased from 49.00 Cr. (Mar 2024) to 8.00 Cr., marking a decrease of 41.00 Cr..
• For Investments, as of Mar 2025, the value is 5.00 Cr.. The value appears strong and on an upward trend. It has increased from 4.00 Cr. (Mar 2024) to 5.00 Cr., marking an increase of 1.00 Cr..
• For Other Assets, as of Mar 2025, the value is 12,267.00 Cr.. The value appears strong and on an upward trend. It has increased from 10,465.00 Cr. (Mar 2024) to 12,267.00 Cr., marking an increase of 1,802.00 Cr..
• For Total Assets, as of Mar 2025, the value is 15,126.00 Cr.. The value appears strong and on an upward trend. It has increased from 12,818.00 Cr. (Mar 2024) to 15,126.00 Cr., marking an increase of 2,308.00 Cr..

However, the Borrowings (4,959.00 Cr.) are higher than the Reserves (3,772.00 Cr.), which may signal higher financial risk.

Overall, while many items appear to show a positive trend, any significant downward movement or items where Borrowings exceed Reserves warrant further investigation.

Cash Flow

Free Cash Flow

Financial Efficiency Indicators

Share Holding Pattern

Mutual Fund Holdings

Key Financial Ratios

After reviewing the key financial ratios for Kalyan Jewellers India Ltd, here is a detailed analysis based on the latest available data and recent trends:

• For FaceValue, as of Mar 25, the value is 10.00. This value is within the healthy range. There is no change compared to the previous period (Mar 24) which recorded 10.00.
• For Basic EPS (Rs.), as of Mar 25, the value is 6.93. This value is within the healthy range. It has increased from 5.80 (Mar 24) to 6.93, marking an increase of 1.13.
• For Diluted EPS (Rs.), as of Mar 25, the value is 6.93. This value is within the healthy range. It has increased from 5.80 (Mar 24) to 6.93, marking an increase of 1.13.
• For Cash EPS (Rs.), as of Mar 25, the value is 10.25. This value is within the healthy range. It has increased from 8.45 (Mar 24) to 10.25, marking an increase of 1.80.
• For Book Value[Excl.RevalReserv]/Share (Rs.), as of Mar 25, the value is 46.57. It has increased from 40.66 (Mar 24) to 46.57, marking an increase of 5.91.
• For Book Value[Incl.RevalReserv]/Share (Rs.), as of Mar 25, the value is 46.57. It has increased from 40.66 (Mar 24) to 46.57, marking an increase of 5.91.
• For Revenue From Operations / Share (Rs.), as of Mar 25, the value is 242.82. It has increased from 180.07 (Mar 24) to 242.82, marking an increase of 62.75.
• For PBDIT / Share (Rs.), as of Mar 25, the value is 16.11. This value is within the healthy range. It has increased from 13.46 (Mar 24) to 16.11, marking an increase of 2.65.
• For PBIT / Share (Rs.), as of Mar 25, the value is 12.79. This value is within the healthy range. It has increased from 10.80 (Mar 24) to 12.79, marking an increase of 1.99.
• For PBT / Share (Rs.), as of Mar 25, the value is 9.30. This value is within the healthy range. It has increased from 7.66 (Mar 24) to 9.30, marking an increase of 1.64.
• For Net Profit / Share (Rs.), as of Mar 25, the value is 6.92. This value is within the healthy range. It has increased from 5.79 (Mar 24) to 6.92, marking an increase of 1.13.
• For NP After MI And SOA / Share (Rs.), as of Mar 25, the value is 6.93. This value is within the healthy range. It has increased from 5.80 (Mar 24) to 6.93, marking an increase of 1.13.
• For PBDIT Margin (%), as of Mar 25, the value is 6.63. This value is below the healthy minimum of 10. It has decreased from 7.47 (Mar 24) to 6.63, marking a decrease of 0.84.
• For PBIT Margin (%), as of Mar 25, the value is 5.26. This value is below the healthy minimum of 10. It has decreased from 5.99 (Mar 24) to 5.26, marking a decrease of 0.73.
• For PBT Margin (%), as of Mar 25, the value is 3.83. This value is below the healthy minimum of 10. It has decreased from 4.25 (Mar 24) to 3.83, marking a decrease of 0.42.
• For Net Profit Margin (%), as of Mar 25, the value is 2.85. This value is below the healthy minimum of 5. It has decreased from 3.21 (Mar 24) to 2.85, marking a decrease of 0.36.
• For NP After MI And SOA Margin (%), as of Mar 25, the value is 2.85. This value is below the healthy minimum of 8. It has decreased from 3.22 (Mar 24) to 2.85, marking a decrease of 0.37.
• For Return on Networth / Equity (%), as of Mar 25, the value is 14.88. This value is below the healthy minimum of 15. It has increased from 14.25 (Mar 24) to 14.88, marking an increase of 0.63.
• For Return on Capital Employeed (%), as of Mar 25, the value is 20.88. This value is within the healthy range. It has decreased from 21.24 (Mar 24) to 20.88, marking a decrease of 0.36.
• For Return On Assets (%), as of Mar 25, the value is 4.72. This value is below the healthy minimum of 5. It has increased from 4.66 (Mar 24) to 4.72, marking an increase of 0.06.
• For Long Term Debt / Equity (X), as of Mar 25, the value is 0.00. This value is below the healthy minimum of 0.2. There is no change compared to the previous period (Mar 24) which recorded 0.00.
• For Total Debt / Equity (X), as of Mar 25, the value is 0.19. This value is within the healthy range. It has decreased from 0.79 (Mar 24) to 0.19, marking a decrease of 0.60.
• For Asset Turnover Ratio (%), as of Mar 25, the value is 1.79. It has increased from 1.58 (Mar 24) to 1.79, marking an increase of 0.21.
• For Current Ratio (X), as of Mar 25, the value is 1.29. This value is below the healthy minimum of 1.5. It has decreased from 1.31 (Mar 24) to 1.29, marking a decrease of 0.02.
• For Quick Ratio (X), as of Mar 25, the value is 0.19. This value is below the healthy minimum of 1. It has decreased from 0.21 (Mar 24) to 0.19, marking a decrease of 0.02.
• For Inventory Turnover Ratio (X), as of Mar 25, the value is 2.48. This value is below the healthy minimum of 4. It has increased from 2.23 (Mar 24) to 2.48, marking an increase of 0.25.
• For Dividend Payout Ratio (NP) (%), as of Mar 25, the value is 0.00. This value is below the healthy minimum of 20. It has decreased from 8.62 (Mar 24) to 0.00, marking a decrease of 8.62.
• For Dividend Payout Ratio (CP) (%), as of Mar 25, the value is 0.00. This value is below the healthy minimum of 20. It has decreased from 5.90 (Mar 24) to 0.00, marking a decrease of 5.90.
• For Earning Retention Ratio (%), as of Mar 25, the value is 0.00. This value is below the healthy minimum of 40. It has decreased from 91.38 (Mar 24) to 0.00, marking a decrease of 91.38.
• For Cash Earning Retention Ratio (%), as of Mar 25, the value is 0.00. This value is below the healthy minimum of 40. It has decreased from 94.10 (Mar 24) to 0.00, marking a decrease of 94.10.
• For Interest Coverage Ratio (X), as of Mar 25, the value is 4.62. This value is within the healthy range. It has increased from 4.29 (Mar 24) to 4.62, marking an increase of 0.33.
• For Interest Coverage Ratio (Post Tax) (X), as of Mar 25, the value is 2.99. This value is below the healthy minimum of 3. It has increased from 2.84 (Mar 24) to 2.99, marking an increase of 0.15.
• For Enterprise Value (Cr.), as of Mar 25, the value is 48,102.11. It has increased from 46,427.19 (Mar 24) to 48,102.11, marking an increase of 1,674.92.
• For EV / Net Operating Revenue (X), as of Mar 25, the value is 1.92. This value is within the healthy range. It has decreased from 2.50 (Mar 24) to 1.92, marking a decrease of 0.58.
• For EV / EBITDA (X), as of Mar 25, the value is 28.95. This value exceeds the healthy maximum of 15. It has decreased from 33.49 (Mar 24) to 28.95, marking a decrease of 4.54.
• For MarketCap / Net Operating Revenue (X), as of Mar 25, the value is 1.92. This value is within the healthy range. It has decreased from 2.38 (Mar 24) to 1.92, marking a decrease of 0.46.
• For Retention Ratios (%), as of Mar 25, the value is 0.00. This value is below the healthy minimum of 30. It has decreased from 91.37 (Mar 24) to 0.00, marking a decrease of 91.37.
• For Price / BV (X), as of Mar 25, the value is 10.03. This value exceeds the healthy maximum of 3. It has decreased from 10.52 (Mar 24) to 10.03, marking a decrease of 0.49.
• For Price / Net Operating Revenue (X), as of Mar 25, the value is 1.92. This value is within the healthy range. It has decreased from 2.38 (Mar 24) to 1.92, marking a decrease of 0.46.
• For EarningsYield, as of Mar 25, the value is 0.01. This value is below the healthy minimum of 5. There is no change compared to the previous period (Mar 24) which recorded 0.01.

Overall, while many metrics show healthy performance, any figures highlighted in red or significant downward trends warrant further investigation.

Fair Value

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Strength and Weakness