Earnings Review
Jump in revenue lifts Kalyan Jewellers Jan-Mar PAT 36% YoY
This story was originally published at 18:13 IST on 8 May 2025
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--Kalyan Jewellers Jan-Mar consol PAT INR 1.88 bln vs INR 1.38 bln year ago
--Kalyan Jewellers Jan-Mar consol revenue INR 61.82 bln vs INR 45.25 bln
--Kalyan Jewellers to pay INR 1.50 per share final dividend
--Kalyan Jewellers FY25 consol PAT INR 7.15 bln vs INR 5.97 bln year ago
--Kalyan Jewellers Jan-Mar cost of materials INR 58.73 bln vs INR 45.02 bln
--Kalyan Jewellers FY25 consol revenue INR 250.45 bln vs INR 185.16 bln
--Kalyan Jewellers Jan-Mar sales from West Asia INR 7.84 bln, up 26% on year
--Kalyan Jewellers Jan-Mar India revenue INR 53.50 bln, up 38% on year
--Kalyan Jewellers Jan-Mar Candere revenue INR 280 mln vs INR 360 mln yr ago
--Kalyan Jewellers Jan-Mar Candere net loss INR 120 mln vs INR 7 mln loss
--Kalyan Jewellers Jan-Mar consol EBITDA INR 3.99 bln vs INR 2.96 bln yr ago
--Kalyan Jewellers Jan-Mar consol EBITDA margin 6.5%, unch from year ago
--Kalyan Jewellers Jan-Mar consol EBIT INR 3.06 bln vs INR 2.23 bln yr ago
--Kalyan Jewellers Jan-Mar consol EBIT margin 5.0% vs 4.9% year ago
--Kalyan Jewellers: Added 25 showrooms in Jan-Mar, total showrooms at 278
--Kalyan Jewellers: Total showrooms in India, West Asia at 314 as on Mar 31
--Kalyan Jewellers: India Jan-Mar same store sales growth in south at 20%
--Kalyan Jewellers:India Jan-Mar same store sales growth in non-south at 22%
--Kalyan Jewellers Jan-Mar India gold revenue INR 35.69 bln vs INR 26.80 bln
--Kalyan Jewellers Jan-Mar India studded sales INR 16.6 bln vs INR 11.3 bln
--Kalyan Jewellers India studded shr 31% of Jan-Mar India sales vs 29% yr ago
--Kalyan Jewellers: Showrooms in West Asia at 36 as on Mar 31, unch on year
By Christina Titus
MUMBAI – Kalyan Jewellers India Ltd. posted a sharp rise in its consolidated net profit for the March quarter on account of a surge in revenue from operations. The jewellery retailer's consolidated net profit rose 36% on year to INR 1.88 billion in the reporting quarter. However, on a sequential basis, the consolidated net profit declined 14%.
The consolidated revenue from operations grew 37% on year to INR 61.82 billion in the March quarter, lifting the total income to INR 62.22 billion. The total income was INR 45.64 billion a year ago. On the cost front, total expenses rose 36% on year to INR 59.72 billion in the March quarter. The cost of materials, which accounts for most of the total expenses, increased 30% on year to INR 58.73 billion.
The company said it will pay a dividend of INR 1.50 per share. For the financial year 2024-25 (Apr-Mar), the company reported a consolidated net profit of INR 7.15 billion on revenue of INR 250.45 billion.
The jeweller's revenue from West Asia rose 26% on year to INR 7.84 billion in the March quarter and revenues from India were at INR 53.50 billion, up 38% on year. The robust revenue growth across markets and categories was aided by strong same-store-sales growth, the company said in the investor presentation. Same store sales growth rose 20% for south India in the March quarter and 22% for other regions in the country.
The consolidated earnings before interest, taxes, depreciation, and amortisation rose 35% on year to INR 3.99 billion in the quarter. Consolidated earnings before interest and taxes rose to INR 3.06 billion in the reporting quarter from INR 2.23 billion in the year-ago quarter. The company's EBITDA margin was unchanged at 6.5% from the year-ago quarter while the EBIT margin rose to 5.0% in the quarter from 4.9% a year ago.
The company also reported a 33% on-year rise in revenue from gold to INR 35.69 billion in the reporting quarter. Studded jewellery revenue rose faster than gold, rising 48% on year to INR 16.64 billion. The share of studded jewellery rose to 31% in the March quarter from 29% in the year-ago quarter.
"We witnessed robust growth in our Akshaya Tritiya sale this year and we continue to see encouraging momentum in consumer demand, especially around the wedding purchases during the current quarter," Ramesh Kalyanaraman, executive director, Kalyan Jewellers, said in the press release.
Candere, Kalyan Jewellers' lifestyle jewellery platform, reported a net loss of INR 120 million in the latest quarter, lower than the net loss of INR 360 million in the year-ago quarter. The revenue from Candere in the March quarter was INR 280 million.
The company said it added 25 showrooms in the March quarter and total showrooms, including in India and West Asia, stood at 314 as of Mar. 31. The company said it had 36 showrooms in West Asia as of Mar. 31, unchanged from a year ago. On Thursday, shares of the company closed 2.1% lower at INR 512.40 on the National Stock Exchange. End
Edited by Saji George Titus
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