
Shares of Kalyan Jewellers India Ltd continued their steep decline, hitting the 10% lower circuit on January 15, with the stock down by over 30% since the start of the year. This marks the ninth consecutive session of losses, as the stock suffered a significant weekly drop of ₹147.25 or 21.53%.
Stock Performance:
- Day Range: ₹536.80 – ₹602.65
- Market Cap: ₹554.47 billion
- P/E Ratio: 88.44
- Dividend Yield: 0.22%
Kalyan Jewellers Share Price history
Day | Open | Close | Change % |
---|---|---|---|
Tue, Jan 14 2025
|
₹581.05
|
₹596.40
|
+4.07%
|
Mon, Jan 13 2025
|
₹600.00
|
₹573.10
|
-8.56%
|
Fri, Jan 10 2025
|
₹660.00
|
₹626.75
|
-5.40%
|
Thu, Jan 9 2025
|
₹708.90
|
₹662.55
|
-6.21%
|
Wed, Jan 8 2025
|
₹724.45
|
₹706.40
|
-2.29%
|
Tue, Jan 7 2025
|
₹777.05
|
₹722.95
|
-2.90%
|
Mon, Jan 6 2025
|
₹781.55
|
₹744.55
|
-4.27%
|
Fri, Jan 3 2025
|
₹790.90
|
₹777.80
|
-1.28%
|
The sharp decline follows rumors surrounding IT raids and allegations of inventory overvaluation, which the management has firmly denied. According to NDTV Profit, the company labeled these allegations as “incorrect” and emphasized its commitment to operational transparency during a management call.
Robust Q3 FY2025 Results:
Despite the recent sell-off, Kalyan Jewellers delivered robust Q3 FY2025 results, showcasing its resilience and growth:
- Revenue Growth: 39% YoY, driven by strong demand in gold and studded jewellery during the festive and wedding seasons.
- Same-Store Sales Growth: 24% YoY.
- India Operations: Revenue surged 41% YoY.
- Middle East Operations: Revenue increased by 22%, contributing 11% to the consolidated revenue.
Expansion Milestones:
- New Showrooms: 24 new outlets in Q3 FY2025, with 30 more planned in the ongoing quarter.
- Global Expansion: Launched its first Company Owned Company Operated (COCO) showroom in the United States.
- Digital Platform Success: Candere recorded 89% YoY revenue growth, complemented by 23 new showroom launches.
Future Plans:
Kalyan Jewellers has ambitious plans for FY2026, targeting 170 new showrooms:
- 75 Kalyan showrooms (FOCO) in non-south India.
- 15 Kalyan showrooms in south India and international markets.
- 80 Candere showrooms across India.
While the company continues to report strong operational performance and expansion plans, market sentiment remains subdued due to recent controversies. Investors will look for clarity on the allegations and further updates on its growth strategy.