Kalyan Jewellers - Public Comps and Valuation Multiples

Kalyan Jewellers Overview

About Kalyan Jewellers

Kalyan Jewellers India Ltd is a Jewellery company. The business activities of the company are to design, manufacture, and sell a variety of gold, studded and other jewellery products for various occasions such as weddings, festivals and others. It operates in a single segment namely the jewellery business.

Founded

2009

HQ

Employees

12.5K+

Website

kalyanjewellers.net

Sectors

Luxury Goods
Clothing & Accessories

Financials

LTM Revenue $3.2B

LTM EBITDA $206M

EV

$6.4B

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Kalyan Jewellers Financials

As of August 2025, Kalyan Jewellers reported last 12-month revenue of $3.2B and EBITDA of $206M.

In the same period, Kalyan Jewellers generated $423M in LTM gross profit and $104M in net income.

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Kalyan Jewellers P&L

In the most recent fiscal year, Kalyan Jewellers reported revenue of $2.8B and EBITDA of $187M.

Kalyan Jewellers expects next 12-month revenue of XXX and NTM EBITDA of XXX

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	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue	$3.2B	XXX	$2.8B	XXX	XXX	XXX
Gross Profit	$423M	XXX	$361M	XXX	XXX	XXX
Gross Margin	13%	XXX	13%	XXX	XXX	XXX
EBITDA	$206M	XXX	$187M	XXX	XXX	XXX
EBITDA Margin	6%	XXX	7%	XXX	XXX	XXX
EBIT	$168M	XXX	$141M	XXX	XXX	XXX
EBIT Margin	5%	XXX	5%	XXX	XXX	XXX
Net Profit	$104M	XXX	$81.1M	XXX	XXX	XXX
Net Margin	3%	XXX	3%	XXX	XXX	XXX
Net Debt	XXX	XXX	$331M	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for Kalyan Jewellers including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $3.2B. EBITDA for the last twelve months was $206M. In the most recent fiscal year, Kalyan Jewellers achieved $2.8B in revenue and $187M in EBITDA.
Financial Metric	Last Twelve Months (LTM)	Next Twelve Months (NTM)	Most Recent Fiscal Year	Current Fiscal Year (2025)	Next Fiscal Year (2026)	Two Years Forward (2027)
Total Revenue	$3.2B	Analyst estimates available to subscribers	$2.8B	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	$423M	Analyst estimates available to subscribers	$361M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	13.2% gross margin	Analyst estimates available to subscribers	12.8% gross profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization)	$206M	Analyst estimates available to subscribers	$187M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	6.4% EBITDA margin	Analyst estimates available to subscribers	6.6% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	$168M	Analyst estimates available to subscribers	$141M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	5.2% EBIT margin	Analyst estimates available to subscribers	5.0% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	$104M	Analyst estimates available to subscribers	$81.1M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	3.3% net profit margin	Analyst estimates available to subscribers	2.9% net profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Debt Position	Detailed debt information available to subscribers	Detailed debt information available to subscribers	$331M	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for Kalyan Jewellers

This financial data table provides comprehensive performance metrics for Kalyan Jewellers, a company based in India. The metrics include revenue, profitability measures, and operational efficiency indicators across multiple time periods.

Recent Performance Highlights

Kalyan Jewellers generated $3.2B in revenue over the last twelve months.
The company achieved $206M in EBITDA over the last twelve months.
Gross profit for the last twelve months was $423M.
Net income over the last twelve months reached $104M.

Fiscal Year Performance

In the most recent fiscal year, Kalyan Jewellers reported $2.8B in total revenue.
Fiscal year EBITDA was $187M.
The company maintained a gross profit margin of 12.8% in the most recent fiscal year.
EBITDA margin for the fiscal year was 6.6%.
Net profit margin reached 2.9% in the most recent fiscal year.

This financial data is sourced from Morningstar, Inc. and represents the most recent available information for Kalyan Jewellers. Forward-looking estimates and detailed financial projections are available through our premium subscription service.

Kalyan Jewellers Stock Performance

Kalyan Jewellers has current market cap of INR 519B (or $5.9B), and EV of INR 565B (or $6.4B).

Market Cap Evolution

Kalyan Jewellers Stock Data

As of September 15, 2025, Kalyan Jewellers's stock price is INR 503 (or $6).

See Kalyan Jewellers trading valuation data

EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$6.4B	$5.9B	XXX	XXX	XXX	XXX	$0.10

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Kalyan Jewellers Valuation Multiples

Kalyan Jewellers's trades at 2.4x EV/Revenue multiple, and 35.8x EV/EBITDA.

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Kalyan Jewellers Financial Valuation Multiples

As of September 15, 2025, Kalyan Jewellers has market cap of $5.9B and EV of $6.4B.

Equity research analysts estimate Kalyan Jewellers's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

Kalyan Jewellers has a P/E ratio of 56.4x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$5.9B	XXX	$5.9B	XXX	XXX	XXX
EV (current)	$6.4B	XXX	$6.4B	XXX	XXX	XXX
EV/Revenue	2.0x	XXX	2.4x	XXX	XXX	XXX
EV/EBITDA	31.1x	XXX	35.8x	XXX	XXX	XXX
EV/EBIT	38.2x	XXX	47.3x	XXX	XXX	XXX
EV/Gross Profit	15.1x	XXX	n/a	XXX	XXX	XXX
P/E	56.4x	XXX	75.7x	XXX	XXX	XXX
EV/FCF	59.8x	XXX	71.0x	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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Kalyan Jewellers Margins & Growth Rates

Kalyan Jewellers's last 12 month revenue growth is 26%

Kalyan Jewellers's revenue per employee in the last FY averaged $0.2M, while opex per employee averaged $18K for the same period.

Kalyan Jewellers's rule of 40 is 33% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Kalyan Jewellers's rule of X is 72% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Kalyan Jewellers Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	26%	XXX	28%	XXX	XXX	XXX
EBITDA Margin	6%	XXX	7%	XXX	XXX	XXX
EBITDA Growth	28%	XXX	25%	XXX	XXX	XXX
Rule of 40	33%	XXX	33%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	72%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$0.2M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$18K	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	2%	XXX	XXX	XXX
G&A Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
R&D Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
Opex to Revenue	XXX	XXX	8%	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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