Kalyan Jewellers is an Indian multinational jewellery company, headquartered in Thrissur, Kerala. It was founded in 1993 by T. S. Kalyanaraman. Today, Kalyan Jewellers has 316 retail stores spread across INDIA, MIDDLE EAST AND USA. The company has evolved from a single showroom in Thrissur to become one of India's largest jewellery retailers with a strong international presence.
Kalyan jewellery was founded in 1993 by T.S. Kalyanaraman. who started the first gold diamond jewellery in kerala (Thrissur). Following the success of the initial store, Kalyanaraman's sons, Rajesh Kalyanaraman and Ramesh Kalyanaraman, joined the family business. The company has systematically expanded its operations across India and internationally, establishing itself as a trusted name in the jewellery retail sector.
Kalyan Jewellers India Limited, together with its subsidiaries, manufactures and retails various gold and precious stone studded jewelry products. The company offers gold, diamond, silver, platinum, gemstone, and white and rose gold jewelries, including wedding, staple regional, aspirational, studded, and other jewelries. It also provides chains, necklaces, bangles, bracelets, nose studs, choker, jewelry, and moti sets, daily wear, vaddanam, rings, earrings, pendants, anklets, pearls, studs, jhumka, lockets, harams, kadas, payals, and second studs.
The company offers its products under MUDHRA, NIMAH, ANOKHI, RANG, TEJASVI, ZIAH, LAYA, GLO, CANDERE, VEDHA, APOORVA, HERA, and MUHURAT brand names. This diverse brand portfolio allows Kalyan Jewellers to cater to different customer segments and preferences across various markets.
We have a strong presence across 21 states and union territories, and our 278-plus network of showrooms cover all major cities. As on March 31, 2025, we have 36 showrooms in the GCC spread across UAE, Qatar, Kuwait and Oman and 1 showroom in the USA. Moreover, the 'My Kalyan' hub-and-spoke model outlets, act as Customer Service Centers, ensuring Kalyan Jewellers is more accessible to households in rural areas.
The company's international expansion aims to cater to the Indian diaspora. This strategic approach has enabled Kalyan Jewellers to serve customers both in India and in international markets where there is significant Indian population.
In 2017, Kalyan Jewellers acquired a majority stake in Candere, an e-commerce jewellery platform. This acquisition enabled Kalyan Jewellers to establish an online presence. In May 2024, Kalyan Jewellers fully acquired Candere, which now operates as a retail brand offering jewellery through both its website and retail stores. This digital initiative has strengthened the company's omnichannel strategy and enhanced customer accessibility.
Kalyan Jewellers India Ltd has a market capitalisation of Rs 60,407 crore. For the full year,net profit rose 19.66% to Rs 714.80 crore in the year ended March 2025 as against Rs 597.35 crore during the previous year ended March 2024. Sales rose 35.27% to Rs 25045.07 crore in the year ended March 2025 as against Rs 18515.55 crore during the previous year ended March 2024.
**Key Financial Highlights (FY25):**
- Revenue: ₹25,045.07 crore (growth of 35.27% YoY)
- Net Profit: ₹714.80 crore (growth of 19.66% YoY)
- Q4 FY25 Revenue: ₹6,181.53 crore (growth of 36.61% YoY)
- Q4 FY25 Net Profit: ₹187.61 crore (growth of 36.34% YoY)
The total revenue from Middle East operations in Q3 FY25 was Rs 840 crore, compared to Rs 683 crore in Q3 FY24, reflecting a growth of over 23%. The e-commerce division, Candere, generated revenue of Rs 55 crore in Q3 FY25 compared to Rs 29 crore in Q3 FY24.
Management outlined their operational targets, including the opening of 170 new showrooms""90 under the Kalyan brand and 80 under the Candere brand""in FY2026. Kalyan Jewellers forecasts over 25% revenue growth for the fiscal year, driven by new store openings and a shift towards lower-carat jewellery. This aggressive expansion strategy demonstrates the company's confidence in the growth potential of the Indian jewellery market.
They expect to reduce debt by INR 300 to 400 crores after a net reduction of INR 520 crores over the previous two years. This focus on debt reduction while maintaining growth trajectory reflects sound financial management practices.
The Kalyan Jewellers India Ltd's 52-week high share price is Rs 794.60 and 52-week low share price is Rs 399.20. Last 3 Years: Kalyan Jewellers India Ltd share price moved up by 856.86% on BSE. Promoter holding in Kalyan Jewellers India Ltd has gone up to 62.85 per cent as of Mar 2025 from 60.59 per cent as of Jun 2024.
The company's strong financial performance, robust expansion plans, and established market position make it a significant player in India's organized jewellery retail sector. With its comprehensive product portfolio, extensive retail network, and growing digital presence, Kalyan Jewellers continues to strengthen its position as one of India's leading jewellery retailers.
