Kalyan Jewellers is one of India’s oldest business families, with a legacy spanning over a century, starting in 1908. Initially founded with the noble aim of nation-building and self-sustenance during pre-independent India, the company’s forefathers emphasized ethical, honest, and transparent business practices as their foundation. Venturing into jewellery retailing in 1993, Kalyan Jewellers is headquartered in Thrissur, Kerala, and has expanded to over 150 showrooms across India and the GCC (Gulf Cooperation Council) countries as of March 31, 2022. The company offers a diverse range of traditional and contemporary jewellery designs crafted in gold, diamonds, precious stones, and other precious metals, showcasing India’s rich heritage, culture, and craftsmanship.
Kalyan Jewellers has always prioritized customer education and awareness, conducting numerous campaigns over the years to inform customers about purity, pricing, and preventing malpractices in the industry. These efforts have significantly contributed to making the jewellery industry more transparent and customer-centric. Inspired by the trust garnered across various markets, Kalyan Jewellers is poised for further expansion into new markets, including the USA, Singapore, Malaysia, Sri Lanka, and more regions in the GCC, extending its reach and legacy in the global jewellery market.
Kalyan Jewellers Q4 FY24 Results:
- Net Profit: ₹1,374.93 crore for Q4 FY24, nearly doubling from ₹697.99 crore in Q4 FY23.
- Total Revenue: ₹45,349.30 crore for Q4 FY24, a 34% increase from ₹33,818.20 crore in Q4 FY23.
- Middle East Operations:
- Revenue: ₹624 crore, a 14% rise from ₹549 crore in Q4 FY23.
- Profit After Tax (PAT): ₹9.9 crore, up 76% from ₹5.6 crore in Q4 FY23.
- Contribution: 14% of the company’s total consolidated revenue.
- Digital Platform - Candere:
- Revenue: ₹36 crore, up from ₹32 crore in Q4 FY23.
- Loss: Reduced to ₹70 lakh, compared to a loss of ₹1.9 crore in Q4 FY23.
- Dividend Proposal: Final dividend of ₹1.2 per equity share for FY24, totaling over ₹120 crore, which is more than 20% of the net profit for FY24.
About Kalyan Jewellers India
Kalyan Jewellers, established by Mr. T.S. Kalyanaraman, is a significant player in the Indian jewelry market, holding a notable 6% share in the organized jewelry sector as of FY20. The company offers a diverse collection that caters to a wide range of customer preferences, from wedding jewelry to mid to high-end pieces and budget-friendly regional jewelry. Among their prominent brands are Nimah, Tejasvi, and Ziah, each designed to suit various occasions.
The revenue composition of Kalyan Jewellers showcases a strong reliance on gold products, which account for 76% of their revenue, followed by studded products at 22% and other products at 2%. Their strategic presence extends beyond India into the Middle East, where they operate 33 showrooms across five countries. Within India, they emphasize a customer-centric approach through “My Kalyan” centers, which are present in approximately 990 locations across 21 states and union territories.
Competing with prominent peers like Tanishq, Malabar Gold & Diamonds, and PC Jeweller, Kalyan Jewellers offers customers a diverse array of choices in fine jewelry. The company not only sources gold externally but also maintains in-house manufacturing facilities in Sharjah and Oman. Committed to expansion, Kalyan Jewellers aims to grow its presence in non-south markets with a strategic goal of achieving a 50% market share by FY24 or FY25.
How to Buy Kalyan Jewellers Shares in India?
Below are the trading platforms that you can use to purchase Kalyan Jewellers shares:
➤ Zerodha
➤ Upstox
➤ Groww
➤ AngelOne
➤ ICICIDirect
Kalyan Jewellers Share Price Target 2024 To 2030
Kalyan Jewellers Share Price Target 2024
| When | Maximum Price | Minimum Price |
| June 2024 | 450.60 | 391.83 |
| July 2024 | 446.10 | 387.91 |
| August 2024 | 463.94 | 403.43 |
| September 2024 | 482.50 | 419.56 |
| October 2024 | 473.04 | 411.34 |
| November 2024 | 491.96 | 427.79 |
| December 2024 | 496.88 | 432.07 |
In 2024, Kalyan Jewellers shares are projected to show varying maximum and minimum prices throughout the year. In June 2024, the maximum price is expected to reach ₹450.60, while the minimum price may dip to ₹391.83. For July 2024, the shares could see a high of ₹446.10 and a low of ₹387.91. Moving into August 2024, the maximum price is anticipated to rise to ₹463.94, with a minimum of ₹403.43. September 2024 might witness the shares peaking at ₹482.50 and hitting a low of ₹419.56. By October 2024, the highest price could be ₹473.04 and the lowest ₹411.34. In November 2024, Kalyan Jewellers shares are projected to reach a maximum of ₹491.96 and a minimum of ₹427.79. Finally, in December 2024, the maximum price is expected to be ₹496.88, with a minimum of ₹432.07.
Kalyan Jewellers Share Price Prediction 2025
| When | Maximum Price | Minimum Price |
| January 2025 | 501.85 | 386.04 |
| February 2025 | 506.92 | 389.94 |
| March 2025 | 517.56 | 398.13 |
| April 2025 | 512.44 | 394.18 |
| May 2025 | 497.51 | 382.70 |
| June 2025 | 519.90 | 399.92 |
| July 2025 | 509.71 | 392.08 |
| August 2025 | 525.47 | 404.21 |
| September 2025 | 531.78 | 409.06 |
| October 2025 | 545.60 | 419.69 |
| November 2025 | 559.24 | 430.19 |
| December 2025 | 584.41 | 449.55 |
In 2025, Kalyan Jewellers shares are expected to show notable price fluctuations. In January, the maximum price could reach ₹501.85 and the minimum ₹386.04. By June, shares might hit a high of ₹519.90 and a low of ₹399.92. By December, the anticipated peak price is ₹584.41, with a minimum of ₹449.55.
Kalyan Jewellers Share Price Target 2026
| When | Maximum Price | Minimum Price |
| January 2026 | 601.94 | 463.03 |
| February 2026 | 586.89 | 451.46 |
| March 2026 | 598.63 | 460.49 |
| April 2026 | 610.85 | 469.88 |
| May 2026 | 604.80 | 465.23 |
| June 2026 | 619.92 | 476.86 |
| July 2026 | 607.76 | 467.51 |
| August 2026 | 626.56 | 481.97 |
| September 2026 | 639.09 | 491.61 |
| October 2026 | 655.71 | 504.39 |
| November 2026 | 672.10 | 517.00 |
| December 2026 | 688.90 | 529.93 |
Kalyan Jewellers Share Price Prediction 2027
| When | Maximum Price | Minimum Price |
| January 2027 | 695.79 | 535.23 |
| February 2027 | 713.63 | 548.95 |
| March 2027 | 741.47 | 570.36 |
| April 2027 | 726.93 | 559.18 |
| May 2027 | 705.75 | 542.89 |
| June 2027 | 737.51 | 567.32 |
| July 2027 | 723.05 | 556.19 |
| August 2027 | 745.42 | 573.40 |
| September 2027 | 771.50 | 593.47 |
| October 2027 | 791.56 | 608.90 |
| November 2027 | 811.35 | 624.12 |
| December 2027 | 831.64 | 639.72 |
Kalyan Jewellers Share Price Target 2028
| When | Maximum Price | Minimum Price |
| January 2028 | 850.34 | 654.11 |
| February 2028 | 872.14 | 670.88 |
| March 2028 | 906.16 | 697.04 |
| April 2028 | 888.39 | 683.38 |
| May 2028 | 862.51 | 663.47 |
| June 2028 | 901.33 | 693.33 |
| July 2028 | 883.65 | 679.73 |
| August 2028 | 910.98 | 700.76 |
| September 2028 | 942.87 | 725.28 |
| October 2028 | 967.38 | 744.14 |
| November 2028 | 991.57 | 762.74 |
| December 2028 | 1,016.36 | 781.81 |
Kalyan Jewellers Share Price Target 2029
| When | Maximum Price | Minimum Price |
| January 2029 | 1,036.68 | 797.45 |
| February 2029 | 1,063.27 | 817.90 |
| March 2029 | 1,104.73 | 849.79 |
| April 2029 | 1,083.07 | 833.13 |
| May 2029 | 1,051.53 | 808.87 |
| June 2029 | 1,098.84 | 845.26 |
| July 2029 | 1,077.30 | 828.69 |
| August 2029 | 1,110.62 | 854.32 |
| September 2029 | 1,149.49 | 884.22 |
| October 2029 | 1,179.38 | 907.21 |
| November 2029 | 1,208.86 | 929.89 |
| December 2029 | 1,239.08 | 953.14 |
Kalyan Jewellers Share Price Target 2030
| When | Maximum Price | Minimum Price |
| January 2030 | 1,263.86 | 972.20 |
| February 2030 | 1,296.27 | 997.13 |
| March 2030 | 1,346.82 | 1,036.02 |
| April 2030 | 1,320.42 | 1,015.70 |
| May 2030 | 1,281.96 | 986.12 |
| June 2030 | 1,339.64 | 1,030.50 |
| July 2030 | 1,313.38 | 1,010.29 |
| August 2030 | 1,354.00 | 1,041.54 |
| September 2030 | 1,401.39 | 1,077.99 |
| October 2030 | 1,437.82 | 1,106.02 |
| November 2030 | 1,473.77 | 1,133.67 |
| December 2030 | 1,510.61 | 1,162.01 |
In 2030, Kalyan Jewellers shares are projected to exhibit significant price fluctuations throughout the year. In January, the maximum price could reach ₹1,263.86 and the minimum ₹972.20. By June, the shares might hit a high of ₹1,339.64 and a low of ₹1,030.50. By December, the anticipated peak price is ₹1,510.61, with a minimum of ₹1,162.01.
Kalyan Jewellers India Financial Condition: Last 5 Years
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
| Sales + | 10,101 | 8,573 | 10,818 | 14,071 | 18,548 |
| Expenses + | 9,302 | 7,949 | 9,965 | 12,906 | 17,236 |
| Operating Profit | 799 | 624 | 853 | 1,165 | 1,313 |
| OPM % | 8% | 7% | 8% | 8% | 7% |
| Other Income + | 80 | 45 | 38 | 5 | 74 |
| Interest | 419 | 405 | 360 | 353 | 323 |
| Depreciation | 239 | 225 | 232 | 245 | 274 |
| Profit before tax | 221 | 39 | 299 | 572 | 789 |
| Tax % | 36% | 115% | 25% | 24% | 24% |
| Net Profit + | 142 | -6 | 224 | 432 | 596 |
| EPS in Rs | 1.7 | -0.06 | 2.18 | 4.2 | 5.8 |
| Dividend Payout % | 0% | 0% | 0% | 12% | 21% |
Kalyan Jewellers demonstrated robust growth in sales, increasing from Rs 10,101 crore in March 2020 to Rs 18,548 crore in March 2024, with a significant jump between March 2022 and March 2023. Expenses also rose from Rs 9,302 crore to Rs 17,236 crore over the same period, yet profitability was maintained due to higher revenue growth. Operating profit increased from Rs 799 crore to Rs 1,313 crore, despite slight fluctuations in the Operating Profit Margin (OPM). Other income varied, and interest expenses declined from Rs 419 crore to Rs 323 crore, while depreciation expenses rose, indicating ongoing asset investments. Profit Before Tax (PBT) improved significantly, and the tax rate fluctuated before stabilizing, with net profit turning from a loss of Rs 6 crore in March 2021 to a profit of Rs 596 crore in March 2024. Earnings Per Share (EPS) increased from Rs 1.7 to Rs 5.8, and the dividend payout ratio rose to 21% in March 2024, reflecting a commitment to returning value to shareholders.
FAQs
What is the current market cap of Kalyan Jewellers?
Kalyan Jewellers’s market capitalization is a substantial ₹45,728 crore.
What is the current share price of Kalyan Jewellers?
As of June 24, 2024, Kalyan Jewellers’s share price is ₹444, indicating the company’s ongoing market performance.
What is the share price target for Kalyan Jewellers in 2025?
The share price target for Kalyan Jewellers in 2025 is projected to range between ₹382.70 and ₹584.41, suggesting potential growth within this range.
What is the share price target for Kalyan Jewellers in 2030?
For the year 2030, the share price target is set between ₹972.20 and ₹1,510.61, indicating expectations of a gradual increase throughout the year.
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Should One Invest In Kalyan Jewellers?
In conclusion, Kalyan Jewellers’ Q4 FY24 results demonstrate outstanding financial growth and strategic success. The company’s consolidated net profit nearly doubled to ₹1,374.93 crore, while total revenue surged by 34% to ₹45,349.30 crore. The significant contributions from Middle East operations and the digital platform Candere highlight Kalyan Jewellers’ diversified growth strategy. Additionally, the proposed final dividend of ₹1.2 per equity share, totaling over ₹120 crore, underscores its robust financial health and commitment to enhancing shareholder value. These impressive results solidify Kalyan Jewellers’ position as a compelling investment option, characterized by consistent profitability, strategic expansion, and a strong market presence.
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