Kalyan Jewellers Q1 results: Net profit jumps 33.2% to Rs 143.5 crore, revenue up 31%

Based in Thrissur, Kerala, Kalyan Jewellers stands as a prominent jewellery retailer in India, extending its reach into the Middle East. With an enduring presence in the Indian market for more than three decades, the company has established industry standards in quality, pricing, transparency and innovation. 

Kalyan presents a diverse selection of traditional and modern jewellery designs in gold, diamonds, and precious stones to cater to varying customer preferences. Operating through 197 showrooms across India and the Middle East, the company occupies a retail space exceeding 6,40,000 sq. ft. 

On August 09, 2023, Kalyan Jewellers Ltd recently announced their Q1FY24 results in which sales of the company surged by 31.2% and stood at Rs 4,376 crore as compared to Q1FY23 while the operating profit of the company grew by 22.2% to Rs 323 crore as compared to Q1FY23. Similarly, the net profit of the company jumped by 33.3% and stood at Rs 144 crore as against Q1FY23. Furthermore, the company has been able to grow its sales by 12% (CAGR) over the past 3 years and net profit has grown by 48% (CAGR) for the same period. 

Additionally, anticipating new showrooms, Ramesh Kalyanaraman, Executive Director of Kalyan Jewellers, prepares fresh collections and campaigns for the nationwide festive and wedding season. August marks the significant milestone of their 200th showroom launch in Jammu. 

The company has delivered exceptional returns of 172% over the past year and significant returns of 151% from the date of its listing in March 2021. Moreover, the company has a ROCE of 12.7% and a ROE of 13.5%. 

On Wednesday, shares of the company surged by more than 6% and made and traded at its new 52-week high of Rs 188.95. Additionally, the scrip had a spurt in volume by more than 6.73 times. 

Investors should keep a close eye on this trending stock. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet, and is subject to changes. Please consult an expert before making related decisions.