Shares of Kalyan Jewellers surged 10% to ₹484.70 as of 10:00 AM, hitting the upper circuit limit, following the company’s robust Q3 FY25 earnings. The company reported a 21% YoY rise in consolidated net profit to ₹218.68 crore, marking a 68% QoQ increase. Revenue grew 40% YoY to ₹7,286.8 crore, also registering a 20% QoQ growth.
EBITDA increased 19% YoY to ₹438.8 crore, with a 34% sequential rise. However, EBITDA margins stood at 6.02%, lower than 7.08% YoY, though improving from 5.39% in the previous quarter.
Brokerage update
Following the earnings, Citi maintained a ‘Buy’ rating but cut its target price to ₹650 from ₹810. The brokerage noted that revenue grew 40% YoY, including 24% same-store sales growth (SSSG) in India, and was broadly in line with estimates. EBITDA and PBT grew 19% and 23% YoY, coming in at -1% and +6% vs Citi’s estimates, respectively. Adjusted for a ₹54.8 crore custom duty impact, EBITDA and PBT growth stood at 33% and 46% YoY, showcasing the company’s underlying strength.
Stock performance and key metrics
Kalyan Jewellers’ stock hit an intraday high of ₹484.70, locking at the upper circuit limit, with a low of ₹446.50. The trading volume stood at 2.07 crore shares, with open interest at 3.03 crore shares. The upper circuit limit remains at ₹484.70, while the lower circuit limit is ₹396.60.
Disclaimer: The above article is for informational purposes only and does not constitute financial advice. Investors are advised to conduct their own due diligence before making investment decisions.
