{"id":4475,"date":"2025-06-19T13:50:49","date_gmt":"2025-06-19T08:20:49","guid":{"rendered":"https:\/\/www.eqwires.com\/tutorials\/?p=4475"},"modified":"2025-06-19T13:50:50","modified_gmt":"2025-06-19T08:20:50","slug":"kalyan-jewellers-strong-fundamentals-but-stock-under-pressure","status":"publish","type":"post","link":"https:\/\/www.eqwires.com\/tutorials\/kalyan-jewellers-strong-fundamentals-but-stock-under-pressure\/","title":{"rendered":"Kalyan Jewellers: Strong Fundamentals, But Stock Under Pressure"},"content":{"rendered":"\n<p id=\"0\"><strong>Kalyan Jewellers India Ltd.<\/strong>, one of India\u2019s largest jewelry retailers, may be witnessing strong business momentum \u2014 but the stock is currently struggling on Dalal Street.<\/p>\n\n\n\n<p>As of <strong>Thursday, June 19<\/strong>, the stock was trading <strong>1.07% lower at \u20b9514.35<\/strong>, having corrected nearly <strong>35% from its January 2025 high of \u20b9795.40<\/strong>. Year-to-date, the stock is down 34%, despite upbeat earnings and an aggressive expansion roadmap.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h3 class=\"wp-block-heading\">\ud83d\udcca Citi Maintains \u2018Buy\u2019 Rating \u2014 Sees \u20b9650 Target<\/h3>\n\n\n\n<p>Global brokerage <strong>Citi<\/strong> has reiterated a <strong>\u2018Buy\u2019 rating<\/strong> on the stock, setting a <strong>target price of \u20b9650<\/strong>, implying over 25% upside from current levels.<\/p>\n\n\n\n<p>In its latest research note, Citi highlighted:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li><strong>Robust demand<\/strong> trends continue across the jewelry segment<\/li>\n\n\n\n<li><strong>90 new stores<\/strong> are planned in <strong>FY26<\/strong>, indicating strong growth confidence<\/li>\n\n\n\n<li>Online arm <strong>Candere<\/strong> could turn profitable or break even this fiscal<\/li>\n\n\n\n<li><strong>Studded jewelry mix<\/strong> remains stable, aiding margins<\/li>\n\n\n\n<li>No significant <strong>price-based competition<\/strong>, despite high gold prices<\/li>\n\n\n\n<li><strong>Average ticket size<\/strong> has increased by &lt;10%, suggesting pricing discipline<\/li>\n<\/ul>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h3 class=\"wp-block-heading\">\ud83d\udcb0 Financial Highlights: Solid March Quarter Performance<\/h3>\n\n\n\n<p>Kalyan Jewellers reported a <strong>strong Q4 FY25<\/strong>, with both revenue and profit rising sharply:<\/p>\n\n\n\n<figure class=\"wp-block-table\"><table class=\"has-fixed-layout\"><thead><tr><th>Metric<\/th><th>Q4 FY25<\/th><th>YoY Change<\/th><\/tr><\/thead><tbody><tr><td><strong>Revenue<\/strong><\/td><td>\u20b96,181.5 crore<\/td><td>\ud83d\udd3c 36.6%<\/td><\/tr><tr><td><strong>Net Profit<\/strong><\/td><td>\u20b9187.6 crore<\/td><td>\ud83d\udd3c 36.5%<\/td><\/tr><tr><td><strong>EBITDA<\/strong><\/td><td>\u20b9399 crore<\/td><td>\ud83d\udd3c 34.8%<\/td><\/tr><tr><td><strong>EBITDA Margin<\/strong><\/td><td>6.5%<\/td><td>\ud83d\udd3d 10 bps YoY<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n<p>Despite the slight margin dip, the company\u2019s bottom-line growth remains healthy, underpinned by <strong>rising same-store sales<\/strong>, largely driven by <strong>customer base expansion<\/strong>, not just ticket size inflation.<\/p>\n\n\n\n<p>Kalyan has also proposed a <strong>final dividend of \u20b91.50 per share<\/strong> for FY25, rewarding shareholders even as it works to reduce its <strong>\u20b9350 crore debt<\/strong> in FY26.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity\"\/>\n\n\n\n<h3 class=\"wp-block-heading\">\ud83e\udded Outlook: Opportunity Amid Correction?<\/h3>\n\n\n\n<p>While the stock has seen a steep decline from its highs, Kalyan Jewellers\u2019 fundamentals remain strong, with:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Clear growth visibility<\/li>\n\n\n\n<li>Solid financial performance<\/li>\n\n\n\n<li>Focused debt reduction<\/li>\n\n\n\n<li>Expanding omnichannel presence<\/li>\n<\/ul>\n\n\n\n<p id=\"0\">The recent correction may reflect broader market volatility or profit-booking, rather than business weakness. For long-term investors, this could be <strong>an opportunity to accumulate on dips<\/strong>, especially with strong institutional backing and analyst support.<\/p>\n\n\n\n<p id=\"0\"><strong><a href=\"https:\/\/www.eqwires.com\/tutorials\/who-is-the-best-sebi-registered-investment-advisor-in-i\">Eqwires Research Analyst<\/a><\/strong><\/p>\n\n\n\n<p class=\"has-dark-gray-color has-text-color\"><strong><a href=\"https:\/\/www.eqwires.com\/\">Top-notch SEBI registered research analyst<\/a><\/strong><\/p>\n\n\n\n<p class=\"has-dark-gray-color has-text-color\"><strong><a rel=\"noreferrer noopener\" href=\"https:\/\/www.eqwires.com\/\" target=\"_blank\">Best SEBI registered Intraday tips provider <\/a><\/strong><\/p>\n\n\n\n<p class=\"has-dark-gray-color has-text-color\"><a href=\"mailto:info@eqwires.com\"><strong>info@eqwires.com<\/strong><\/a><\/p>\n\n\n\n<p class=\"has-dark-red-color has-text-color\"><strong><a href=\"https:\/\/t.me\/eqwires\">Telegram&nbsp;<\/a>|&nbsp;<a href=\"https:\/\/www.facebook.com\/eqwires\/\">Facebook&nbsp;<\/a>|&nbsp;<a href=\"https:\/\/instagram.com\/Eqwires\">Instagram<\/a><\/strong><\/p>\n\n\n\n<p class=\"has-dark-red-color has-text-color\"><strong>Call: +91 9624421555 \/&nbsp;<em>+91 9624461555<\/em><\/strong><\/p>\n\n\n\n<p><strong><a href=\"http:\/\/www.eqwires.com\/\">www.eqwires.com<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Kalyan Jewellers India Ltd., one of India\u2019s largest jewelry retailers, may be witnessing strong business momentum \u2014 but the stock is currently struggling on Dalal Street. As of Thursday, June 19, the stock was trading 1.07% lower at \u20b9514.35, having corrected nearly 35% from its January 2025 high of \u20b9795.40. Year-to-date, the stock is down 34%, despite upbeat earnings and an aggressive expansion roadmap. \ud83d\udcca Citi Maintains \u2018Buy\u2019 Rating \u2014 Sees \u20b9650 Target Global brokerage &hellip; <a href=\"https:\/\/www.eqwires.com\/tutorials\/kalyan-jewellers-strong-fundamentals-but-stock-under-pressure\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Kalyan Jewellers: Strong Fundamentals, But Stock Under Pressure&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":4476,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[74],"tags":[],"class_list":["post-4475","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-best-sebi-registered-advisory-company"],"_links":{"self":[{"href":"https:\/\/www.eqwires.com\/tutorials\/wp-json\/wp\/v2\/posts\/4475","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.eqwires.com\/tutorials\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.eqwires.com\/tutorials\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.eqwires.com\/tutorials\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.eqwires.com\/tutorials\/wp-json\/wp\/v2\/comments?post=4475"}],"version-history":[{"count":1,"href":"https:\/\/www.eqwires.com\/tutorials\/wp-json\/wp\/v2\/posts\/4475\/revisions"}],"predecessor-version":[{"id":4477,"href":"https:\/\/www.eqwires.com\/tutorials\/wp-json\/wp\/v2\/posts\/4475\/revisions\/4477"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.eqwires.com\/tutorials\/wp-json\/wp\/v2\/media\/4476"}],"wp:attachment":[{"href":"https:\/\/www.eqwires.com\/tutorials\/wp-json\/wp\/v2\/media?parent=4475"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.eqwires.com\/tutorials\/wp-json\/wp\/v2\/categories?post=4475"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.eqwires.com\/tutorials\/wp-json\/wp\/v2\/tags?post=4475"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}