Kalyan Jewellers India logo

Kalyan Jewellers India share price

NSE: KALYANKJILBSE: 543278Consumer DurablesMid Cap

Kalyan Jewellers India Limited · Face value ₹10 · Listed Mar 2021 · Issue price ₹87
Last close ₹500.00down ₹4.80 (0.95%)BSE ₹501.00

Share price at the NSE close on 27 Oct 2026. Previous close ₹504.80.

27 Oct: open ₹505.85, high ₹507.50, low ₹490.60

52-week range of traded prices to 27 Oct 2026
₹327.05Low, 11 Jun 2026₹648.95High, 30 Jul 2026
Market cap
₹51,638 Cr219th largest listed
P/E
35.99
P/B
8.19
Dividend yield
0.50%
ROE
25.8%
ROCE
31.8%
Debt to equity
0.08
Volume, NSE
56,10,84324.0% delivered

Kalyan Jewellers India share price chart

Daily closes since Mar 2021, adjusted for splits and bonuses

−1.2%over a year · Nifty Consumer Durables −12.1% · Nifty 500 −8.8%

Results20-session average 66,95,931 shares a day, 27.2% delivered

About Kalyan Jewellers India

Kalyan Jewellers India Limited is a jewellery retailer headquartered in Thrissur, Kerala, that sells gold, diamond, precious-stone and everyday jewellery through a chain of showrooms.12 It serves customers in India and, through subsidiaries, in the UAE, Qatar, Kuwait, Oman, the US and the UK, with brands aimed at different ages, budgets and regional tastes.34

It sells under the Kalyan Jewellers brand for traditional jewellery, Candere for contemporary everyday wear, and Akshaya Thanga Maligai, a regional brand offering traditional Tamil jewellery.2 Candere began online in 2013, was acquired in 2017 and now also runs showrooms.54 The company uses a franchisee-owned, company-operated (FOCO) model, in which franchise partners fund the showroom and its inventory while the company runs it.6 Its 'My Kalyan' neighbourhood centres reach semi-urban and rural households and enrol customers in jewellery savings plans.7

T.S. Kalyanaraman opened the first Kalyan Jewellers showroom in Thrissur in 1993, extending a family business that began with a textile mill in Kerala in 1908.89 Kalyan Jewellers opened its first showroom outside Kerala in 2004 and outside South India in 2012, and received equity investment from Warburg Pincus in 2014.10 The company was formed in 2009 from the earlier Kalyan Jewellers business entities and has been listed on NSE and BSE since 26 March 2021.1112

Its promoters include Managing Director T.S. Kalyanaraman and his sons T.K. Seetharam and T.K. Ramesh, both whole-time directors.1314 The board is chaired by Vinod Rai, an independent director and a former Comptroller and Auditor General of India.15

Kalyan Jewellers India key points

Results

  • In the quarter to Jun 2026, consolidated revenue excluding bullion sales (precious metal sold in bulk) was ₹10,008 crore, up 38% from a year earlier. EBITDA (earnings before interest, tax, depreciation and amortisation) was ₹633 crore, against ₹508 crore.16
  • Consolidated profit after tax was ₹349 crore in the quarter to Jun 2026, against ₹264 crore a year earlier; the India business had a one-off gain of about ₹41 crore from an import duty increase in the quarter.1718
  • In the year to Mar 2026, consolidated revenue was ₹3,57,429 million and EBITDA ₹24,912 million, against ₹15,172 million a year earlier.1920
  • Consolidated profit after tax for the year to Mar 2026 was ₹13,504 million, against ₹7,142 million a year earlier.20

Revenue mix

  • Studded jewellery (set with diamonds, polki, uncut diamonds or precious stones) made up 29.7% of India revenue in the quarter to Jun 2026, against 30.3% a year earlier, and 16.3% of Middle East revenue, against 18.3%.2122
  • Franchised showrooms gave about 57% of India revenue in the quarter to Jun 2026.23
  • In the quarter to Jun 2026, recycled gold (old gold taken back from customers) made up 46% of India revenue, against 30% a year earlier.2425

Where revenue comes from

  • Revenue of the India and Middle East businesses, excluding bullion sales26
    Itemquarter to Jun 2026quarter to Jun 2025
    India business₹8,503 crore₹6,142 crore
    Middle East business₹1,320 crore₹1,026 crore
  • India EBITDA was ₹500 crore in the quarter to Jun 2026, against ₹434 crore, and India profit after tax ₹321 crore, against ₹256 crore. Middle East EBITDA was ₹90 crore, against ₹73 crore.27
  • In India, same-store sales growth (growth at showrooms open in both periods) was about 30% in the South and 27% elsewhere in the quarter to Jun 2026.28

Branches and reach

  • Showrooms at the end of June 20262930
    Itemquarter to Jun 2026
    Kalyan Jewellers, India354 (234 franchised)
    Candere, India129 (73 franchised)
    Kalyan Jewellers, Middle East38
    Kalyan Jewellers, US2
    Kalyan Jewellers, UK1
    In all, the company had 524 showrooms in India, the US, the UK and the Middle East.
  • Of Kalyan Jewellers' showrooms, 92% are in India and 8% abroad; in its India network, 69% of showrooms are outside South India and 73% outside metro cities.31
  • The company runs 1,157 'My Kalyan' centres with 4,723 staff for door-to-door outreach; these centres account for about 21% of revenue from operations in India.323334
  • The company works with local artisans as contract manufacturers and has 15 procurement centres in the main jewellery manufacturing regions.33

Candere

  • Candere's revenue was ₹4,253 million in the year to Mar 2026, up 160%, and it turned profitable after tax in the second half of that year.3536
  • In the quarter to Jun 2026, Candere's revenue was ₹141 crore, against ₹66 crore a year earlier, and it made a profit of ₹2.1 crore, against a loss of ₹10 crore.37

Debt

  • At the end of March 2026, standalone gross debt was ₹16,001 million: ₹12,833 million of gold metal loans (gold borrowed from banks to stock showrooms) and ₹3,168 million of other borrowings.3839
  • Kalyan Jewellers cut its debt in India other than gold metal loans by about ₹5,640 million in the year to Mar 2026.40
  • On its earnings call of 4 Aug 2026, the company said it had signed agreements to sell 2 parcels of non-core land for about ₹102 crore; the company's documents give no outcome.41

What the company expects

  • In its presentation of 4 Aug 2026, the company said it plans to open 84 Kalyan Jewellers showrooms in India in the year to Mar 2027, all franchised, plus 6 abroad and 50 Candere showrooms.42
  • On its earnings call of 4 Aug 2026, the company said the first Akshaya Thanga Maligai showroom would open in Chennai on 21 August, followed by 4 more; the company's documents give no outcome.43
  • On its earnings call of 4 Aug 2026, the company said recycled gold was over 55% of its revenue in June 2026 and that it aims to keep the share between 55% and 60%.44
  • On its earnings call of 4 Aug 2026, the company said it believes its profit before tax margin should stay at least in the range of last year's, even on a conservative basis.45

Recent events

  • On 22 Sep 2026, the company said India Ratings and Research had reaffirmed its credit ratings (an agency's opinion of how likely a borrower is to repay) on its bank facilities at IND AA-/Positive/IND A1+.46
  • On 8 May 2026, the board recommended a final dividend of ₹2.5 a share for the year to Mar 2026, subject to approval at the annual general meeting of 19 Sep 2026; the company's documents give no outcome.4748

Last updated

All 48 sources, each with its page
  1. 1. Annual report, 20 Aug 2026, page 73
  2. 2. Annual report, 20 Aug 2026, page 5
  3. 3. Annual report, 20 Aug 2026, page 110
  4. 4. Annual report, 20 Aug 2026, page 9
  5. 5. Annual report, 20 Aug 2026, page 11
  6. 6. Annual report, 20 Aug 2026, page 37
  7. 7. Annual report, 20 Aug 2026, page 8
  8. 8. Investor presentation, 4 Aug 2026, page 7
  9. 9. Annual report, 20 Aug 2026, page 5
  10. 10. Annual report, 20 Aug 2026, page 6
  11. 11. Annual report, 20 Aug 2026, page 73
  12. 12. Annual report, 20 Aug 2026, page 42
  13. 13. Annual report, 20 Aug 2026, page 38
  14. 14. Annual report, 20 Aug 2026, page 39
  15. 15. Annual report, 20 Aug 2026, page 27
  16. 16. Earnings call, 4 Aug 2026, page 4
  17. 17. Earnings call, 4 Aug 2026, page 4
  18. 18. Investor presentation, 4 Aug 2026, page 36
  19. 19. Annual report, 20 Aug 2026, page 15
  20. 20. Annual report, 20 Aug 2026, page 36
  21. 21. Investor presentation, 4 Aug 2026, page 37
  22. 22. Investor presentation, 4 Aug 2026, page 38
  23. 23. Investor presentation, 4 Aug 2026, page 36
  24. 24. Investor presentation, 4 Aug 2026, page 36
  25. 25. Earnings call, 4 Aug 2026, page 3
  26. 26. Earnings call, 4 Aug 2026, page 4
  27. 27. Earnings call, 4 Aug 2026, page 4
  28. 28. Investor presentation, 4 Aug 2026, page 37
  29. 29. Investor presentation, 4 Aug 2026, page 8
  30. 30. Investor presentation, 4 Aug 2026, page 7
  31. 31. Investor presentation, 4 Aug 2026, page 15
  32. 32. Investor presentation, 4 Aug 2026, page 9
  33. 33. Investor presentation, 4 Aug 2026, page 17
  34. 34. Investor presentation, 4 Aug 2026, page 19
  35. 35. Annual report, 20 Aug 2026, page 35
  36. 36. Annual report, 20 Aug 2026, page 11
  37. 37. Earnings call, 4 Aug 2026, page 5
  38. 38. Investor presentation, 4 Aug 2026, page 35
  39. 39. Annual report, 20 Aug 2026, page 42
  40. 40. Annual report, 20 Aug 2026, page 15
  41. 41. Earnings call, 4 Aug 2026, page 4
  42. 42. Investor presentation, 4 Aug 2026, page 34
  43. 43. Earnings call, 4 Aug 2026, page 4
  44. 44. Earnings call, 4 Aug 2026, page 3
  45. 45. Earnings call, 4 Aug 2026, page 12
  46. 46. Exchange filing, 22 Sep 2026, page 1
  47. 47. Annual report, 20 Aug 2026, page 29
  48. 48. Annual report, 20 Aug 2026, page 42

Results

Consolidated; ₹ crore.Kalyan Jewellers India quarterly results

Revenue growth, 12 months
+45.7%
Net profit growth, 12 months
+79.1%

Quarter to Jun 2026, against the quarter before

Revenue
₹10,589 Crup 3.06%
Net profit
₹349 Crdown 14.86%
Net margin
3.3%

Revenue by quarter

₹6,065 CrSep 24₹7,287 CrDec 24₹6,182 CrMar 25₹7,268 CrJun 25₹7,856 CrSep 25₹10,343 CrDec 25₹10,275 CrMar 26₹10,589 CrJun 26
Peak revenue ₹10,589 Cr, quarter to Jun 2026; lowest ₹6,065 Cr, quarter to Sep 2024

Net profit by quarter, a loss in red

₹130 CrSep 24₹219 CrDec 24₹188 CrMar 25₹264 CrJun 25₹261 CrSep 25₹416 CrDec 25₹410 CrMar 26₹349 CrJun 26
₹ croreSep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Revenue6,0657,2876,1827,2687,85610,34310,27510,589
Net profit130219188264261416410349
Net margin2.1%3.0%3.0%3.6%3.3%4.0%4.0%3.3%
Consolidated. The last eight quarters. The latest is shaded. Net profit is the whole group's, the other owners of its subsidiaries included; P/E and ROE use the company's own share.

Business segments

In the year to Mar 2026 the company reports one business segment, Jewellery, which carries all its revenue.

Valuation

Today, against the company's own history.Kalyan Jewellers India PE ratio and valuation

Price to earnings

At or below today's level on 35% of 1,171 trading days since Feb 2022.

LowestHighest
Its median49.88Industry median17.66
Price to book

At or below today's level on 48% of 1,239 trading days over the last 5 years.

LowestHighest
Its median8.51Industry median1.66
Dividend yield

At or below today's level on 100% of 1,214 trading days over the last 5 years.

LowestHighest
Its median0.15%Industry median0.40%

Where the return came from

Yearly rates to Mar 2026, per-share figures restated for splits and bonuses.

OverReturn a yearEarnings growthChange in P/EDividend yield
1 year−18.9%+88.7%−57.4%0.7%
3 years+53.2%+46.0%+4.6%0.4%
5 years+41.1%––0.3%
Return is price growth plus the average dividend yield. Change in P/E is (1 + price growth) / (1 + earnings growth) - 1, so the parts compound rather than add. Earnings growth and the change in P/E are left empty where earnings per share at either end of the window was a loss or is not on record. Earnings growth over 5 years is on profit divided by shares in issue at both ends: the earnings per share stated for one end does not match that year's profit and share count.

Shareholding

Per cent of the company's shares, from the filing for Sep 2026.Kalyan Jewellers India shareholding pattern

Shareholding by group

  • Promoters62.85%
  • Foreign institutions13.83%
  • Indian institutions14.41%
  • Individuals and others8.91%
Holder
Kalyanaraman T SPromoter22.37%
Seetharam T KPromoter18.02%
T K RameshPromoter18.02%
Kjg Consulting Private LimitedPromoter2.35%
Bofa Securities Europe Sa - OdiForeign portfolio investors, category I1.68%
Karthik RamaniPromoter1.20%
Holders are named in the company's own words: an insurer's holding can carry one of its funds' names. Mutual funds are left out here and listed fund by fund below.

Promoters have pledged 24.85% of their shares. Since Jun 2026: promoters −0.01 pts, foreign institutions +3.01 pts, Indian institutions −1.42 pts, mutual funds −1.81 pts.

Mutual fund holdings

126 funds disclosed a holding for Sep 2026. What they did in Sep 2026, against each fund's month before. 79 of the 86 funds that added or cut are index funds, ETFs or arbitrage funds: an index fund or ETF holds what its index holds, and an arbitrage fund holds the share against a sale of its future. 1 more fund filed its first portfolio on record, holding it.All 126 funds holding Kalyan Jewellers India

Bought for the first time
1
Bought again
2
Added
37
Cut
49
Held unchanged
36
Sold out
5
Portfolios disclosed for Sep 2026. Weight is the holding as a share of the fund's assets.

Promoter and insider buying and selling

Trades made since 28 Oct 2025.Kalyan Jewellers India insider trading

Bought on the market Sold on the market
  • Directors and key managers4 purchases, 0 sales₹39 CrNo saleNet₹39 Cr
  • Promoters and promoter group: no market trade · 6 pledge filings of unclear kind
  • Others: no market trade · 8 pledge filings of unclear kind
Bought and sold count trades on the market only. A pledge is shares given to a lender as security for a loan; a lender invokes it by selling them.

Kalyan Jewellers India competitors and peers

Gems, Jewellery And Watches, 103 listed companies, priced on 27 Oct 2026. The table lists the 8 companies closest to Kalyan Jewellers India in market cap.Consumer durables companies

Where the company sits among the companies nearest its size

Return on equity across, P/E up, size is market cap
Company
Titan Company logoTitan CompanyTITAN3,87,59967.2924.68+45.1%+55.1%42.2%31.5%0.34%
Lalithaa Jewellery Mart logoLalithaa Jewellery MartLALITHAA19,041––––––0.00%
PC Jeweller logoPC JewellerPCJEWELLER16,33018.221.76+29.3%+45.9%10.8%9.4%0.00%
Thangamayil Jewellery logoThangamayil JewelleryTHANGAMAYL14,80137.8510.45+83.1%+262.5%31.1%25.7%0.38%
Sky Gold and Diamonds logoSky Gold and DiamondsSKYGOLD14,48336.5810.30+73.0%–32.4%24.8%0.00%
BlueStone Jewellery and Lifestyle logoBlueStone Jewellery and LifestyleBLUESTONE11,520109.896.27––6.0%9.6%0.00%
P N Gadgil Jewellers logoP N Gadgil JewellersPNGJL8,43518.93–+47.8%+76.8%25.3%17.1%0.00%
Ethos logoEthosETHOSLTD6,57763.034.42+30.4%+12.8%8.4%7.6%0.00%
Market cap in ₹ crore. Growth is the last twelve months against the twelve before. A figure is left empty where it would rest on a loss or the company has under a year of results on record. ROE is the shareholders' profit over their net worth. ROCE is profit before interest and tax over the whole group's net worth plus borrowings, as in the figures at the top of the page.

Dividends

Per share, by the year it was paid for, and the latest payments.Kalyan Jewellers India dividend history

Dividend per share, ₹, restated for later splits and bonuses

Mar 21Mar 220.5Mar 231.2Mar 241.5Mar 252.5Mar 26
Highest ₹2.50 a share, year to Mar 2026.
Ex-dateTypePer share
11 Sep 2026Final₹2.50
4 Sep 2025Final₹1.50
9 Aug 2024Final₹1.20
4 Aug 2023Final₹0.50
Latest payments, as declared, by ex-date.

Latest announcements

Routine notices left out.Kalyan Jewellers India announcements

Kalyan Jewellers India share price by year

Each calendar year to 2025.Kalyan Jewellers India share price history

YearClose at year endChangeHighest closeLowest close
2025485.35−36.7%787.90407.50
2024766.25+116.4%775.45330.00
2023354.10+179.8%354.10101.35
2022126.55+84.9%131.1555.85
202168.45–86.3056.70
₹ per share, adjusted for splits and bonuses since. Change is on the close at the end of the year before. 2021 is from its first session, 26 Mar 2021.

Recent sessions

The 9 trading days to 26 Oct 2026, as traded on NSE; the latest is at the top of the page.

DateOpenHighLowCloseAverage priceVolumeDelivery
26 Oct 2026510.00518.00500.00504.80508.3338,70,65328.0%
23 Oct 2026530.90531.75500.45512.00511.3550,71,36726.6%
22 Oct 2026558.05558.10530.00530.40538.0143,72,53622.7%
21 Oct 2026555.00572.80553.70557.00565.301,37,98,69738.1%
19 Oct 2026559.10561.80550.00551.30555.3222,93,44927.7%
16 Oct 2026559.00562.80555.60558.00559.8024,95,51520.9%
15 Oct 2026560.60563.70553.00558.85558.2623,62,89628.3%
14 Oct 2026570.00572.40561.30564.00566.5632,39,46933.8%
13 Oct 2026564.05572.00558.35571.00565.7736,54,80029.5%
Prices in ₹ per share as traded, not adjusted.

Company details