Financials Kalyan Jewellers India Limited

Equities

KALYANKJIL

INE303R01014

Apparel & Accessories Retailers

Market Closed - NSE India S.E. 07:40:48 2024-05-16 am EDT 5-day change 1st Jan Change
411.1 INR +0.48% Intraday chart for Kalyan Jewellers India Limited +3.51% +16.10%

Valuation

Fiscal Period: March 2021 2022 2023 2024 2025 2026
Capitalization 1 70,147 60,516 108,516 423,685 - -
Enterprise Value (EV) 1 70,147 93,037 141,652 440,657 426,716 417,391
P/E ratio -973 x 26.9 x 25.1 x 73.8 x 50.5 x 33.9 x
Yield - - 0.47% 0.22% 0.39% 0.53%
Capitalization / Revenue 0.82 x 0.56 x 0.77 x 2.38 x 1.75 x 1.4 x
EV / Revenue 0.82 x 0.86 x 1.01 x 2.38 x 1.76 x 1.38 x
EV / EBITDA 11.8 x 11.4 x 12.7 x 33.6 x 25.4 x 19.8 x
EV / FCF 12.1 x 60.5 x 17.1 x 89.1 x 33.2 x 21.3 x
FCF Yield 8.28% 1.65% 5.83% 1.12% 3.01% 4.69%
Price to Book 2.48 x 1.93 x 2.99 x 9.93 x 8.6 x 6.65 x
Nbr of stocks (in thousands) 1,030,053 1,030,053 1,030,053 1,030,613 - -
Reference price 2 68.10 58.75 105.4 409.2 409.2 409.2
Announcement Date 5/27/21 5/11/22 5/15/23 5/10/24 - -
1INR in Million2INR
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: March 2020 2021 2022 2023 2024 2025 2026
Net sales 1 101,009 85,733 108,179 140,714 185,483 242,737 303,339
EBITDA 1 - 5,943 8,145 11,140 13,127 16,781 21,029
EBIT 1 - - 5,829 8,694 10,384 13,578 17,878
Operating Margin - - 5.39% 6.18% 5.6% 5.59% 5.89%
Earnings before Tax (EBT) 1 - 393.6 2,989 5,715 7,888 12,213 16,757
Net income 1 - -63.04 2,242 4,331 5,973 9,263 12,707
Net margin - -0.07% 2.07% 3.08% 3.22% 3.82% 4.19%
EPS 2 - -0.0700 2.180 4.200 5.800 8.104 12.07
Free Cash Flow 1 - 5,810 1,537 8,263 4,877 12,854 19,594
FCF margin - 6.78% 1.42% 5.87% 2.63% 5.3% 6.46%
FCF Conversion (EBITDA) - 97.77% 18.87% 74.17% 36.46% 76.6% 93.18%
FCF Conversion (Net income) - - 68.57% 190.77% 75.44% 138.77% 154.2%
Dividend per Share 2 - - - 0.5000 0.8942 1.591 2.175
Announcement Date 8/25/20 5/27/21 5/11/22 5/15/23 5/10/24 - -
1INR in Million2INR
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: March 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4
Net sales 1 - 28,887 34,354 28,571 33,326 34,729 38,841 33,818 43,757 43,996 51,680 45,252
EBITDA 1 - 2,281 2,992 2,184 2,642 2,661 3,270 2,567 3,229 3,146 3,807 3,142
EBIT - - - - - - - - - - - -
Operating Margin - - - - - - - - - - - -
Earnings before Tax (EBT) - - - - - 1,404 - - - 1,823 2,540 1,890
Net income 1 -513.3 687.3 1,345 723 1,079 1,064 1,487 700.9 1,439 1,398 1,928 1,420
Net margin - 2.38% 3.92% 2.53% 3.24% 3.06% 3.83% 2.07% 3.29% 3.18% 3.73% 3.14%
EPS -0.5000 - - - - 1.030 - - - - - -
Dividend per Share - - - - - - - - - - - -
Announcement Date 8/10/21 11/10/21 2/3/22 5/11/22 8/4/22 11/10/22 2/7/23 5/15/23 8/9/23 - - -
1INR in Million
Estimates

Balance Sheet Analysis

Fiscal Period: March 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 - - 32,521 33,136 10,881 3,031 -
Net Cash position 1 - - - - - - 6,294
Leverage (Debt/EBITDA) - - 3.993 x 2.974 x 0.8135 x 0.1806 x -
Free Cash Flow 1 - 5,810 1,537 8,263 4,877 12,854 19,595
ROE (net income / shareholders' equity) - -0.25% 7.52% 12.8% 15.5% 18.7% 21.5%
ROA (Net income/ Total Assets) - - - - - - -
Assets 1 - - - - - - -
Book Value Per Share 2 - 27.40 30.50 35.30 41.20 47.60 61.60
Cash Flow per Share 2 - - - 9.840 10.90 18.00 17.10
Capex 1 - - 913 1,871 2,259 2,189 1,807
Capex / Sales - - 0.84% 1.33% 1.22% 0.9% 0.6%
Announcement Date 8/25/20 5/27/21 5/11/22 5/15/23 5/10/24 - -
1INR in Million2INR
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
C+
More Ratings
Sell
Consensus
Buy
Mean consensus
BUY
Number of Analysts
6
Last Close Price
409.2 INR
Average target price
462.8 INR
Spread / Average Target
+13.12%
Consensus

Quarterly revenue - Rate of surprise

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