KALYAN JEWELLERS RECORDS FY24 REVENUE OF RS 18,548 CR; PAT GROWS BY 38%

10th May 2024

Kalyan Jewellers India Limited recorded a consolidated revenue of INR 18,548 crore in FY24 as against INR 14,071 crore in the previous year, a growth of 32%. Consolidated PAT for FY24 was INR 596 crore

Standalone revenue for the company (India) in FY24 was INR 15,783 crore, as against INR 11,584 crore in the previous financial year, a growth of 36%. PAT (INDIA) for the year was INR 554 crore compared to a PAT of INR 390 crore in the previous financial year, a growth of 42%.

Consolidated revenue for Q4FY24 was INR 4,535 crore as against INR 3,382 crore in the corresponding quarter of the previous year, a growth of over 34%. Consolidated PAT for the quarter was INR 137 crore, as against INR 70 crore for the same period in the previous financial year, a growth in excess of 96%.

The standalone revenue for the company (India) in Q4 FY24 was INR 3,876 crore, as against INR 2,805 crore in Q4 of the previous financial year, a growth of 38%. PAT (INDIA) for the quarter was INR 131 crore compared to a PAT of INR 66 crore in the corresponding quarter of the previous year, a growth of 99%.

Total revenue from the Middle East operations during Q4 FY24 was INR 624 crore as against INR 549 crore in Q4 of the previous financial year, a growth of 14%. PAT for the quarter was at INR 9.9 crore compared to a PAT of INR 5.6 crore in the corresponding quarter of the previous year, a growth of 76%. The Middle East region contributed 14% to the company’s overall consolidated revenue.

Kalyan’s digital-first platform, Candere, recorded a revenue of INR 36 crore for Q4 FY24 versus INR 32 crore in the corresponding quarter of the previous year. The quarter recorded a loss of INR 70 lakh as against a loss of INR 1.9 crore for the corresponding quarter of the previous year.

The Board of Directors of the company has recommended a final dividend of INR 1.2 per equity share for the financial year ending 31 March 2024, subject to the approval of shareholders. This represents a pay-out in excess of INR 120 Cr, more than 20% of the net profit generated during FY 2024.

Mr Ramesh Kalyanaraman, Executive Director, Kalyan Jewellers India Limited said, “We completed an excellent financial year and have started the new year on a strong note despite continuing volatility in gold prices. We are witnessing encouraging momentum in consumer demand, especially around the wedding purchases during the current quarter and Akshaya Tritiya.”

About Kalyan Jewellers:

Headquartered in Thrissur in the state of Kerala, Kalyan Jewellers is one the largest jewellery retailers in India with a presence in the Middle East. The company has enjoyed a long-standing presence in the Indian market for over three decades and has set industry benchmarks in quality, transparency, pricing and innovation. Kalyan offers an array of traditional and contemporary jewellery designs in gold, diamonds, and precious stones that cater to the distinct needs of customers. Kalyan Jewellers has 253 showrooms across India and the Middle East, with a retail area exceeding 7,65,000 sq. ft.