Investor Presentation
KALYANKJIL · price
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Kalyan Jewellers reported FY26 consolidated revenue of ₹3,57,429 Mn (up 43% YoY) and PAT of ₹13,504 Mn (up 89% YoY) with PAT CAGR of 46% over 6 years. Q4FY26 consolidated revenue was ₹1,02,749 Mn (up 66% YoY) with PAT of ₹4,095 Mn (up 118% YoY). EBITDA margins expanded to 7.0% in FY26 from 6.1% in FY25, driven by geographical mix improvement, procurement efficiencies, operating leverage, higher FOCO revenue share, and gains in platinum and silver. The company operates 507 showrooms across India, Middle East, USA, and UK, with 222 FOCO (franchise-owned company-operated) showrooms in India. ROCE improved to 28.8% in FY26 from 19.8% in FY25. The franchise store expansion strategy is accelerating with capital-efficient growth.
Strong quarterly and annual performance with margin expansion and improving return metrics positions the company well for continued growth. The franchise model is driving capital efficiency while expanding reach, and the near-complete debt reduction (non-GML debt to be fully paid in FY27) strengthens the balance sheet further.