Kalyan Jewellers, established in 1993 by T.S. Kalyanaraman, is one of India’s largest jewellery retail brands. With 406 showrooms across India, the Middle East, and the U.S., it has earned trust for offering affordable and quality jewellery. Every quarter, investors monitor the company’s performance, especially since the jewellery sector is affected by gold prices, festivals, wedding seasons, and consumer sentiment. This article breaks down Kalyan’s Q1 FY2025-26 results, share price trends, dividend history, and provides useful tips for investing in dividend-paying stocks.
 |
| Kalyan Jewellers Q1 Results ! Kalyan Jewellers Share Price! NSEBSESTOCKMARKET.COM |
Company Snapshot
- Total Showrooms: 265 in India, 141 overseas (Middle East and U.S.)
- Product Range: Bridal jewellery, daily wear, gold coins, and online products via Candere
- Celebrity Endorsements: Amitabh & Jaya Bachchan, Nagarjuna, Ritabhari Chakraborty
- Key Markets: Rural and semi-urban areas drive nearly 50% of total sales due to the brand’s reputation for transparency and affordability
Q1 FY2026 Performance Highlights
Financial Summary:
Growth Drivers:
- Strong Indian Sales: Net profit from Indian operations rose 55% to ₹256 Cr, supported by wedding-related purchases
- Middle East Expansion: Revenue up 27%, reaching ₹1,026 Cr
- Efficient Operations: Improved margins due to cost control and strong demand
- Popular Collections: New festive jewellery collections saw strong response
Key Success Factors
- Wedding Season Impact: Over 60% of gold jewellery demand comes from weddings—Kalyan benefitted directly
- Omnichannel Experience: Offers virtual try-ons, appointment bookings, and seamless online+offline shopping
- Store Expansion: Added 15+ new showrooms, especially in Tier 2 and Tier 3 cities
- Gold Price Stability: Average gold price remained steady at ₹6,050/gram, maintaining demand
Share Price Analysis
- Current Price: ₹590.95 (as of August 7, 2025)
- Market Cap: ₹60,980 Cr
- 52-Week Range: ₹399.40 – ₹795.40
Recent Performance:
- 1-Month Gain: +1.18%, outperforming the Nifty Consumer Durables Index
- Result Day Activity: Stock rose 0.3% with over 6 million shares traded
Technical Indicators:
- Support Level: ₹580
- Resistance Level: ₹610
- 50-Day EMA: ₹573 – price staying above this shows bullish sentiment
Dividend Overview
- Latest Payout: ₹1.2 per share (Ex-date: August 9, 2024)
- Yield: 0.25% – lower than peers like Titan
- Payout Ratio: 22%, indicating reinvestment of profits into growth
- Dividend History: Consistent dividends since FY2023, a positive for investors
Easy Guide to Dividend Trading
Important Dates:
- Declaration Date – When the dividend is announced
- Ex-Dividend Date – Must own shares before this date to receive dividend
- Record Date – Company checks shareholder list
- Payment Date – Dividend is credited to your account
Tips for Traders & Investors:
- Dividend Capture Strategy: Buy before ex-dividend date and sell after. Keep in mind, the stock price usually falls by the dividend amount after the ex-date
- Long-Term Hold: Enjoy both dividend and capital appreciation. Kalyan shares have gained 730% in 3 years
- Financial Health Check: Favor stocks with payout ratios under 60% and healthy cash flow
Competitor Comparison
Compared to Titan, Kalyan appears attractively priced with decent profitability, making it a value-buy candidate.
Strength Check: Fundamentals & Technicals
Financial Health:
- ROE: 14.88%
- ROCE: 18%
- Debt-to-Equity: 0.20 – low debt level
- Promoter Holding: 62.82% – indicates promoter confidence
Technical Signals:
- RSI: 58 – neutral zone
- Analyst Opinions: All 8 analysts rate it a "Strong Buy"
- Target Price: ₹668 – ~13% potential upside
Risks to Watch
- Gold Price Fluctuations: Volatility may affect profit margins
- Local Competition: Small jewellery stores may offer cheaper prices
- Regulatory Impact: Changes in hallmarking or tax rules could hurt earnings
- Geopolitical Risk: Middle East issues may affect international sales (15% revenue exposure)
Outlook: Future Looks Bright
- New Stores: Over 30 new showrooms planned this year
- Online Growth: Focused on improving profitability of Candere
- Festive Demand: Expected 20% sales jump during Diwali and Navratri
Investment Insights:
- Short-Term: Aim for ₹610 target with ₹580 stop-loss
- Long-Term: Strong fundamentals, expanding presence, and growing profits make it a solid hold
Final Thoughts: Strong Q1 Performance, Solid Growth Potential
Kalyan Jewellers had a strong start to FY2026, with profits up 49% and robust growth across India and international markets. Though its dividend yield is modest, the company’s low debt, steady expansion, and strong brand position offer long-term potential. Its combination of in-store and online presence positions it well for future growth.
Summary:
- Traders: Target – ₹610, Stop-loss – ₹580
- Investors: Consider long-term holding for capital growth and possible dividend upside
FAQs
Q1: Is Kalyan Jewellers a good buy after Q1 FY2026 results?
Yes, with strong profits and a 13% upside potential, it's worth considering.
Q2: Does Kalyan pay regular dividends?
Yes. Since FY2023, it has paid consistent dividends. Latest yield is 0.25%.
Q3: Will the share price drop after the dividend payout?
Usually yes. Share prices typically fall by the dividend amount on the ex-date.
Q4: How to qualify for dividend?
Buy and hold shares before the ex-dividend date (August 9, 2024).
Q5: Which is better—short-term trading or long-term holding?
Long-term generally offers better returns. Kalyan has delivered 730% gains in 3 years.
📜 SEBI-Compliant Disclaimer
Investing in stocks involves risk. This article is for educational and informational purposes only. It is not financial advice. Always consult a SEBI-registered advisor before making investment decisions. The author and publisher are not liable for any losses.
