Kalyan Jewellers India Limited, a leading name in the Indian jewellery retail sector, has reported impressive financial results for the fiscal year 2024-25 (FY25), showcasing resilience and strategic growth in a dynamic market environment.

Financial Highlights

• Consolidated Revenue: Rs 25,045 crore, a 35% increase from Rs 18,516 crore in FY24.

• Consolidated Net Profit (PAT): Rs 714 crore, up 20% from Rs 596 crore in the previous fiscal year.

• Q4 FY25 Revenue: Rs 6,182 crore, a 37% year-on-year growth.

• Q4 FY25 Net Profit: Rs 188 crore, marking a 36% increase compared to the same quarter last year.

These robust figures reflect the company's effective strategies in expanding its market presence and catering to evolving consumer preferences.

Domestic Market Performance

In India, Kalyan Jewellers' standalone revenue for Q4 FY25 stood at Rs 5,350 crore, a 38% rise year-on-year. The standalone net profit for the same period was Rs 185 crore, up 41% from the previous year. This growth is attributed to strong demand during the Akshaya Tritiya festival and the wedding season, which are traditionally significant periods for jewellery purchases in India.

International Operations

The company's Middle East operations also demonstrated positive performance, with Q4 FY25 revenue reaching Rs 784 crore, a 26% increase year-on-year. The net profit from this region was Rs 12 crore, up 22% compared to the same quarter in the previous fiscal year. This growth underscores Kalyan Jewellers' successful international expansion and brand acceptance in the Middle Eastern market.

Digital Platform: Candere

Kalyan Jewellers' online platform, Candere, reported a revenue of Rs 28 crore in Q4 FY25. However, it incurred a net loss of Rs 12 crore during the same period. The company is focusing on strategies to enhance the performance of its digital arm, recognizing the growing importance of e-commerce in the jewellery industry.

Expansion and Strategic Initiatives

Kalyan Jewellers continued its expansion strategy by adding 25 new showrooms in India during Q4 FY25, bringing the total count to 388 showrooms globally. The company plans to launch over 130 new showrooms in FY26, including approximately 40 Kalyan showrooms in India, around 30 Candere showrooms, and its first showroom in the United States by Diwali. This aggressive expansion plan aims to strengthen the company's footprint in both domestic and international markets.

Management Commentary

Executive Director Ramesh Kalyanaraman expressed optimism about the company's performance, stating, "We had an excellent start to the current financial year despite continuing volatility in gold prices, carrying forward the momentum in business from the previous financial year. We witnessed robust growth in our Akshaya Tritiya sale this year and continue to see encouraging momentum in consumer demand, especially around wedding purchases during the current quarter."

Dividend Declaration

In recognition of its strong financial performance, Kalyan Jewellers has declared a final dividend of Rs 1.50 per equity share for FY25, subject to shareholder approval at the upcoming Annual General Meeting.

Outlook

Looking ahead, Kalyan Jewellers is poised to capitalize on its strong brand equity, extensive retail network, and strategic expansion plans. The company's focus on enhancing customer experience, expanding its digital presence, and entering new markets positions it well for sustained growth in the coming years.

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