Latest news with #RameshKalyanaraman
Business Standard
3 days ago
- Business
- Business Standard
Kalyan Jewellers Q1 PAT climbs 49% YoY to Rs 264 cr
Kalyan Jewellers India's consolidated net profit surged 48.55% to Rs 264.08 crore in Q1 FY26, supported by a 31.48% increase in revenue from operations to Rs 7,268.5 crore compared to the same period last year. Profit before tax (PBT) for the quarter stood at Rs 352.97 crore, up 48.61% as against Rs 237.50 crore posted in Q1 FY25. Earnings before interest, tax, depreciation, and amortization (EBITDA) rose 37.89% year-on-year to Rs 508 crore in Q1 FY26. The EBITDA margin also improved, reaching 7% compared to 6.7% in the same period last year. In Q1 FY26, Kalyan Jewellers standalone revenue from its India business reached Rs 6,142 crore, representing a robust growth of 31% compared to the same quarter last year. Profit after tax (PAT) also saw a strong increase of 55%, rising to Rs 256 crore. The companys international operations continued to perform well, with revenue climbing 32% year-on-year to Rs 1,070 crore in Q1 FY26. Within this, the Middle East market contributed Rs 1,026 crore in revenue, marking a 27% increase, while PAT grew by 18% to Rs 22 crore. However, the lifestyle jewellery platform Candere faced challenges during the quarter, recording revenue of Rs 66 crore alongside a net loss of Rs 10 crore. Ramesh Kalyanaraman, executive director of Kalyan Jewellers India, said, we have started off the ongoing quarter well despite continuing volatility in gold prices and a higher base. We are upbeat about the upcoming festive season across the country and are gearing up for the launch of fresh collections and campaigns. Headquartered in Thrissur in the state of Kerala, Kalyan Jewellers is one of the largest jewellery retailers in India with a presence in the Middle East and the US. Shares of Kalyan Jewellers dropped 10% to Rs 531.70 on the BSE.
Yahoo
3 days ago
- Business
- Yahoo
Kalyan Jewellers ED on Business Expansion
Kalyan Jewellers Executive Director Ramesh Kalyanaraman discusses his company's latest earnings and business outlook. He speaks exclusively on Bloomberg's 'Insight with Haslinda Amin' Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Mint
3 days ago
- Business
- Mint
Kalyan Jewellers share price crashes 9% despite a 49% jump in Q1 profit. Should you buy the stock?
Kalyan Jewellers' share price crashed over 9 per cent in the morning trade on the BSE on Friday, August 8, a day after the company reported its June quarter (Q1) results. The stock opened at ₹ 615.65 against its previous close of ₹ 590.75 and crashed 9.4 per cent to hit an intraday low of ₹ 534.95. Around 10:50 AM, the jewellery stock traded 6.90 per cent down at ₹ 550. Kalyan Jewellers' share price crashed despite the company reporting healthy year-on-year (YoY) growth in consolidated profit and revenue for Q1FY26. Kalyan Jewellers' consolidated profit after tax (PAT) for Q1FY26 was ₹ 264 crore, up 49 per cent against the profit of ₹ 178 crore in the same period in the previous financial year. PAT margin inches up to 3.6 per cent from 3.2 per cent YoY. The company's consolidated revenue of ₹ 7,268 crore was up 31 per cent year over year. In Q1FY25, it was ₹ 5,528 crore. EBITDA for Q1FY26 was ₹ 508 crore, up 38 per cent YoY against ₹ 368.4 crore in Q1FY25, while EBITDA margin increased to 7 per cent from 6.7 per cent YoY. Kalyan Jewellers' lifestyle jewellery platform, Candere, recorded a revenue of ₹ 66 crore and a net loss of ₹ 10 crore for Q1FY26. 'We have started off the ongoing quarter well despite continuing volatility in gold prices and a higher base. We are upbeat about the upcoming festive season across the country and are gearing up for the launch of fresh collections and campaigns,' said Ramesh Kalyanaraman, Executive Director, Kalyan Jewellers. Kalyan Jewellers is one of the largest jewellery retailers in India with a presence in the Middle East and the US. Experts appear largely positive about the stock's long-term prospects due to the company's widespread market presence and healthy growth outlook. Brokerage firm Motilal Oswal Financial Services has a buy call on the stock with a target price of ₹ 700. "We model a 21 per cent, 17 per cent, and 21 per cent revenue, EBITDA, and PAT CAGR, respectively, over FY26-28E. We have largely maintained our EPS (earnings per share) estimates for FY26 and FY27. We reiterate our buy rating with a target price of ₹ 700, based on a 50 times June 2027 price-to-earnings ratio," said Motilal Oswal. Motilal highlighted that, with the successful scaling up of its new franchise businesses and continued success in non-Southern markets, Kalyan Jewellers has established itself as a leading brand in the industry. Motilal believes the company's non-South expansion has improved the studded jewellery mix. The asset-light expansion supports healthy cash flow generation for debt repayment and enhances profitability by reducing interest costs. Brokerage firm JM Financial, too, has maintained a buy call on the stock with a target price of ₹ 700. "We largely maintain our EPS estimates as the benefits of better margins get negated by higher interest costs required for the working capital requirement for the new pilot. Maintain a buy rating on the stock with an unchanged target price of ₹ 700, based on 45 times June'27 EPS," said JM Financial. JM Financial highlighted that Kalyan Jewellers is planning to launch new regional brands for every state, catering to regional demand and increasing the total addressable market by targeting the mass market. JM Financial underscored that the current Kalyan showrooms target more aspirational customers. The new regional brand will target only those customers who are not aspirational and want to continue with the regional taste. While the stock appears to be a long-term buy, some technical experts believe investors should consider taking profits on any bounce. Jigar S. Patel, Senior Manager of Equity Research at Anand Rathi Share and Stock Brokers, pointed out that Kalyan Jewellers stock is showing signs of weakness on the charts, with heavy volumes observed near the ₹ 620 mark. Kalyan Jewellers technical chart "The stock has faced multiple rejections at this level, reinforcing it as a strong resistance zone. Additionally, the RSI remains below 40, indicating sustained bearish momentum. Traders are advised to book profits on any upward bounce from current levels," said Patel. Read all market-related news here Read more stories by Nishant Kumar
News18
3 days ago
- Business
- News18
Kalyan Jewellers Shares Fall 13% From Day's High Despite Strong Q1 Results: What Brokerage Firms Say?
Kalyan Jewellers reports robust revenue growth of 31% YoY, led by 18% SSSG growth in India. Shares of Kalyan Jewellers India Ltd, the Thrissur-headquartered jewellery company, tumbled nearly 9% on Friday, August 8, despite registering gains in three of the past four trading sessions. The stock opened higher at Rs 615.65 but soon reversed course to hit an intraday low of Rs 535, which is 9.46% lower than the previous close of Rs 590.95 and 13.14% down from the day's high of Rs 616. Global brokerage Citi has reiterated its 'Buy' rating on the stock and raised its price target to Rs 700, citing solid financial performance. Revenue rose 31% year-on-year, with same-store sales growth in India at 18%, in line with expectations. More notably, EBITDA and PBT surged 35% and 49% YoY, respectively — exceeding Citi's estimates by 9% and 14% — aided by improved operating leverage, a pilot project, and higher platinum and silver sales. In addition, the company is: 'We have started off the ongoing quarter well despite continuing volatility in gold prices and a higher base. We are upbeat about the upcoming festive season across the country and are gearing up for the launch of fresh collections and campaigns," said Ramesh Kalyanaraman, Executive Director, Kalyan Jewellers India. Of the nine analysts covering the stock, eight have a 'Buy' rating, while one has a 'Sell' recommendation. Brokerage JM Financial also gave a 'buy' call for the shares with a price target of Rs 700. In its note, the brokerage said, 'Kalyan reported robust revenue growth of 31% YoY, led by 18% SSSG growth in India. It added 10/1 Kalyan store in India/US and 8 Candere stores. India EBITDA was 10% above our estimates led by robust gross margins as (i) company implemented a pilot project of lean credit period to its vendors which resulted in higher margins/better RoCE and, (ii) inventory gains due to increase in prices of silver/platinum. Company is planning to launch new regional brands for every state to target the customers with regional taste and capture the pie from unorganised segment; 1st brand will be launched in CY25. It has temporarily paused the repayment of its debt obligation until release of its real estate collateral. Demand in Q2 remained until last week of June, post which the high base is optically leading to some YoY slowdown in growth, with growth again expected to pick in Q2 due to the festive season." Its steps towards lean credit policy is expected to drive profitability and improve RoCE, while the regional brand strategy is aimed at increasing the TAM; however, this would also lead an increase in the overall capital employed in the business. We largely maintain our EPS estimates as benefits of better margins gets negated by higher interest cost required for working capital requirement for the new pilot. Maintain BUY rating on the stock with an unchanged target price of INR 700, based on 45x June'27 EPS, JM Financial stated. Stay updated with all the latest news on the Stock Market, including market trends, Sensex and Nifty updates, top gainers and losers, and expert analysis. Get real-time insights, financial reports, and investment strategies—only on News18. view comments Location : New Delhi, India, India First Published: August 08, 2025, 11:43 IST News business » markets Kalyan Jewellers Shares Fall 13% From Day's High Despite Strong Q1 Results: What Brokerage Firms Say? Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
Mint
3 days ago
- Business
- Mint
Kalyan Jewellers share price crashes 9% despite a 49% jump in Q1 profit. Details here
Kalyan Jewellers' share price crashed over 9 per cent in the morning trade on the BSE on Friday, August 8, a day after the company reported its June quarter (Q1) results. The stock opened at ₹ 615.65 against its previous close of ₹ 590.75 and crashed 9.4 per cent to hit an intraday low of ₹ 534.95. Around 10:50 AM, the jewellery stock traded 6.90 per cent down at ₹ 550. Kalyan Jewellers' share price crashed despite the company reporting healthy year-on-year (YoY) growth in consolidated profit and revenue for Q1FY26. Kalyan Jewellers' consolidated profit after tax (PAT) for Q1FY26 was ₹ 264 crore, up 49 per cent against the profit of ₹ 178 crore in the same period in the previous financial year. The company's consolidated revenue of ₹ 7,268 crore was up 31 per cent year over year. In Q1FY25, it was ₹ 5,528 crore. EBITDA for Q1FY26 was ₹ 508 crore, up 38 per cent YoY against ₹ 368.4 crore in Q1FY25. Kalyan Jewellers' lifestyle jewellery platform, Candere, recorded a revenue of ₹ 66 crore and a net loss of ₹ 10 crore for Q1FY26. 'We have started off the ongoing quarter well despite continuing volatility in gold prices and a higher base. We are upbeat about the upcoming festive season across the country and are gearing up for the launch of fresh collections and campaigns,' said Ramesh Kalyanaraman, Executive Director, Kalyan Jewellers. Kalyan Jewellers is one of the largest jewellery retailers in India with a presence in the Middle East and the US. (This is a developing story. Please check back for fresh updates.)
