Kalyan Jewellers hits 52-week high on strong Q1 earnings

The company reported a 33.3 percent YoY rise in net profit at Rs 144 crore and 31.3 percent increase in revenue at Rs 4,378 crore

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Kalyan Jewellers hit a 52-week high of Rs 189 on August 9 after the southern gold-ornament maker reported a 33.3 percent year-on-year (YoY) rise in net profit at Rs 144 crore for the June quarter of the current financial year.

At 1.44 pm, Kalyan Jewellers was quoting at Rs 184.70 at the National Stock Exchange (NSE), up 3.97 percent.

The company’s revenue was up 31.3 percent YoY at Rs 4,375.7 crore. Earnings before interest, taxes, depreciation and ammortisation (EBITDA) were up 22.2 percent at Rs 322.8 crore but the EBITDA margin for the quarter slipped by 50 basis points to 7.4 percent.

One basis point is one-hundredth of a percentage point.

In terms of the geographies in which the company operates, the retail jeweller reported a 22 percent YoY increase in revenue in the Middle East at Rs 700 crore. The region’s net profit grew 24 percent to Rs 17 crore and it contributed nearly 14 percent to the consolidated revenue.

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“The recently concluded quarter has been yet another positive one for us, having witnessed continued robust momentum in both footfalls and revenue across all our markets in India and Middle East over the past several quarters,” executive director Ramesh Kalyanaraman said.

“We are gearing up for the upcoming festive and wedding season across the country. The month of August will witness the launch of our 200th showroom in Jammu – a milestone in our showroom expansion journey.”

India’s second largest retail jeweller by market cap, Kalyan Jewellers is primarily engaged in designing, manufacturing and sale of gold, studded and other jewellery products.

The company carries out its retail business through 116 showrooms spread across India and 30 in the middle-east countries.

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