Kalyan Jewellers India Ltd., incorporated in the year 2009, is a Small Cap company (having a market cap of Rs 6798.35 Crore) operating in Gems and Jewellery sector.
Financials
For the quarter ended 30-06-2021, the company reported a Consolidated Total Income of Rs 1641.50 Crore, down -46.51 % from last quarter Total Income of Rs 3068.88 Crore and unchanged .00 % from last year same quarter Total Income of Rs Crore. Company reported net profit after tax of Rs -51.31 Crore in latest quarter.
Investment Rationale
The brokerage cuts earnings estimate by 1-3% for FY22-FY23E. The brokerage models revenue and EBITDA CAGRs of 21% and 35% over FY21-FY23E. It maintains BUY with an unchanged target price of Rs95. Key risks: delay in showroom expansion and potentially higher competitive intensity in core South India markets.
Promoter/FII Holdings
Promoters held 60.5 per cent stake in the company as of June 30, 2020, while FIIs held 4.3 per cent, DIIs 1.5 per cent and public and others 33.8 per cent.
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