Kalyan Jewellers India Limited — PPTs, 13-11-2024: Investor Presentation

**Financial Highlights:**

Kalyan Jewellers reported a TTM revenue of ₹2,13,590 mn with a profit after tax of ₹6,258 mn, reflecting a robust growth trajectory. The company's EBITDA stood at ₹13,793 mn, showcasing resilient margins despite market fluctuations. Notable improvements in profitability metrics include a return on capital employed (ROCE) of over 19% based on FY24 performance, signaling effective capital utilization.

**Strategic Initiatives and Growth Drivers:**

Kalyan's strategic shift towards a franchise model is expected to accelerate its expansion with plans for 80 new FOCO (Franchisee Owned Company Operated) showrooms in FY25. The focus on enhancing the "My Kalyan" network enables deeper customer outreach, particularly in underpenetrated markets.

**Business Developments:**

The company opened 15 new showrooms in Q2 FY25, demonstrating its commitment to increasing market presence. In total, Kalyan operates 231 showrooms in India, with a significant operational footprint in the Middle East as well.

**Market Position and Competitive Advantage:**

Kalyan remains one of the leading players in India's jewelry market with a unique hyperlocal business model, allowing it to cater to diverse regional preferences. Its strong brand presence and marketing strategy enhance customer engagement, positioning Kalyan favorably to capture the growing organized retail segment.

**Investor Implications:**

Investors should view Kalyan's proactive expansion and sustainable profit improvement measures positively. With a solid growth framework and a focus on capital efficiency, Kalyan is well-positioned for steady revenue growth, making it a company to watch closely for potential investment opportunities.