Kalyan Jewellers India Ltd. · NSE:KALYANKJIL
Kalyan Jewellers India — Q3 FY2025 Earnings Presentation
47 slides from Kalyan Jewellers India's earnings presentation, Jan 30, 2025
Slide 1: Exchange filing cover letter: Investors/Analysts Presentation
SEC/ 93/2024-2025 January 30, 2025 1. National Stock Exchange of India Ltd. 2. BSE Limited Exchange Plaza Corporate Relationship Dept. Plot No. C/1, G Block Phiroze Jeejeebhoy Towers, Dalal Street Bandra –Kurla Complex Bandra (E), Mumbai 400001 Mumbai 400 051 Maharashtra, India Symbol: KALYANKJIL Sc
Slide 2: Investor Presentation January 2025
I N V ESTO R P R ES E N TAT I O N January 2025 K A LYA N J E W E L L E R S I N D I A L I M I T E D
Slide 3: Safe Harbor
Safe Harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by Kalyan Jewellers India Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for an
Slide 4: Contents
CONTENTS 01 5-8 03 27-29 COMPANY OVERVIEW STRATEGIC PRIORITIES 02 04 10-25 31-45 INVESTMENT HIGHLIGHTS PERFORMANCE REVIEW
Slide 5: Company Overview
01 COMPANY OVERVIEW ‘ KALYAN JEWELLERS
Slide 6: Introduction To Kalyan Jewellers
Company at a glance Introduction To Kalyan Jewellers ESTABLISHED IN 1993 BY MR. T.S. KALYANARAMAN. BUILT ON A RICH FAMILY LEGACY AND DECADES’ OLD INDUSTRY EXPERTISE OF ITS FOUNDER. KALYAN JEWELLERS: INDIA’S TRUSTED JEWELLER One of India’s largest Pan-India presence with scaled operations in jeweller
Slide 7: History of Trust – Thriving on a 100-Year-Old Legacy
Timeline History of Trust – Thriving on a 100-Year-Old Legacy Kalyan’s First Generation Kalyan’s Second Generation 1908: Started the entrepreneurial journey 1972: The second generation expanded retail with the first textile mill in Kerala presence to more textile showrooms 1913: Commenced textile re
Slide 8: Evolution Of A Trusted Pan-India Brand
Key milestones Evolution Of A Trusted Pan-India Brand Opened first Launched “My Kalyan” Entered Maharashtra Entered Chennai Incremental equity Entered Bihar Launched 1st franchise store showroom under customer outreach and Middle East markets and East India investment by Warburg market (Aurangabad)
Slide 9: Key Highlights
Company at a glance Key Highlights 31 Years 312 36 1 6 23 Since Showrooms in India Showrooms in Showroom in Countries States and UTs Formation (including Candere) Middle East USA in India 1,027 15 13,144 ₹2,34,228 Mn ₹6,641 Mn "My Kalyan" Procurement Employees Current Revenues Current Profit After T
Slide 10: Investment Highlights
02 INVESTMENT HIGHLIGHTS ‘ KALYAN JEWELLERS
Slide 11: Kalyan Jewellers: Built On Core Competitive Strengths
Key pillars of strength Kalyan Jewellers: Built On Core Competitive Strengths 1 Leading brand in a large market with rapidly 6 Robust and Effective Internal Control Processes increasing organised share driven by significant Information technology and operations management systems growth tailwinds to
Slide 12: Indian Jewellery Market: Favorable Trends And Characteristics
Industry overview Indian Jewellery Market: Favorable Trends And Characteristics Rising Share Of Organised Retail In Gold Jewellery Demand And Ownership Is Jewellery To Continue Higher In Rural India And Rises With Income 2nd 3rd Levels Organised (%) Unorganised (%) Largest gold market in Highest com
Slide 13: Organised Jewellery Market: Structural Growth Drivers
Key market trends & characteristics Organised Jewellery Market: Structural Growth Drivers JEWELLERY IN INDIA IS A LARGE AND ATTRACTIVE MARKET WITH SIGNIFICANT TAILWINDS Shifting Customer Superior Organisational Supportive Regulatory Behaviour Capabilities And Legislative Changes Customers’ expectati
Slide 14: A Brand Built On Decades Of Trust And Transparency
Established brand A Brand Built On Decades Of Trust And Transparency PIONEERS IN THE INDIAN JEWELLERY RETAILING SPACE IN: Institutionalising Highest Introducing Highest Degree Of Customer Education Quality Standards Pricing Transparency For And Awareness Customers BIS Hallmarking Of Gold Jewellery P
Slide 15: A True Pan-India Player With Expansive Geographical Presence
Presence A True Pan-India Player With Expansive Geographical Presence Pan-India Presence Jammu & Kashmir • Karnataka • • 19 • 1 1 Chandigarh • 1 Tamil Nadu • 27 Odisha • 10 •3 89% Showrooms in 11% Showrooms 5 • 1 Jharkhand Punjab •6 India (Including outside India • 8 •2 • 3 Uttarakhand Candere) •6 T
Slide 16: Effective Marketing Strategy
Marketing and promotion strategy Effective Marketing Strategy REINFORCING THE LOCAL TOUCH, PLAYING AS A PAN-INDIA BRAND ~₹10,000+ mn Marketing and Advertising Investments In Last 4 Years NATIONAL BRAND AMBASSADORS Amitabh Katrina Jaya Shweta Nanda Rashmika Janhvi Kriti Bachchan Kaif Bachchan Bachcha
Slide 17: Hyperlocal Jeweller Catering To Varied Geographies And Customer Segments
Hyperlocal Jeweller Hyperlocal Jeweller Catering To Varied Geographies And Customer Segments Localisation In Brand Localisation Of Our Localisation Of Our Showroom Localisation Through Our Communication And Marketing Product Portfolio Experience For Customers “My Kalyan” Network State and city speci
Slide 18: Hyperlocal Jeweller… helps build a large customer base
Hyperlocal Jeweller Hyperlocal Jeweller… helps build a large customer base Mumbai Region – Localised design Borivali Extensive understanding Personalized shopping Gujarati & North Indian Thane Maharashtrian of local requirements and experience with locally its design preferences recruited sales staf
Slide 19: “My Kalyan” Centres: Unique Grassroots Customer Outreach Network
‘My Kalyan’ network “My Kalyan” Centres: Unique Grassroots Customer Outreach Network ACTIVITIES AND STRATEGIES IMPLEMENTED TO PROMOTE KALYAN BRAND 1,027 Grassroots Network: ‘My Kalyan“ centres Facilitator of the neighborhood Dedicated “My Kalyan” personnel Showcase product Drive traffic to jeweller
Slide 20: Wide Range Of Product Offerings Targeted At A Diverse Set Of Customers
Product offerings Wide Range Of Product Offerings Targeted At A Diverse Set Of Customers WEDDING ASPIRATIONAL STAPLE REGIONAL STUDDED JEWELLERY - JEWELLERY JEWELLERY JEWELLERY DIAMOND, POLKI, UNCUT DIAMOND, PRECIOUS STONES SOLD VIA BRANDS SOLD VIA BRANDS SOLD VIA BRANDS SOLD VIA BRANDS MUHURAT MUDHR
Slide 21: Jewellery Sub-brands Catering To Various Product Themes And Price Points
Product offerings Jewellery Sub-brands Catering To Various Product Themes And Price Points LAUNCHED A NUMBER OF SUB-BRANDS TARGETING DIFFERENT CUSTOMER SEGMENTS AND OCCASIONS ANTIQUE (NON YELLOW DIAMOND JEWELLERY DIAMOND JEWELLERY DIAMOND JEWELLERY UNCUT DIAMOND PRECIOUS STUDDED GOLD FINISH) STUDDED
Slide 22: Leveraging Technology To Drive Footfalls, Customer Engagement And Conversion
Digital initiatives Leveraging Technology To Drive Footfalls, Customer Engagement And Conversion Targeted Digital Analytics-driven Digitally-enabled Online/Omni-channel Improving Employee Marketing through Rich Customer Outreach My Kalyan Centres Productivity and Efficiency Data Mining and through T
Slide 23: Candere - A Kalyan Jewellers Company
E-Commerce Platform Candere - A Kalyan Jewellers Company 2013 2014 2016 2017 Candere website launched Achieved revenue of ₹1.1 Crores Increased catalogue to 100 product Kalyan Jewellers make Candere.com categories & a variety of 4,000+ their online platform through an Identified need for versatility
Slide 24: Robust And Effective Internal Processes And Controls
Internal process and controls Robust And Effective Internal Processes And Controls Enterprise Resource Strict Inventory Strong Board With Top-tier Auditor Integrated Operations To Planning System Allowing Management & Monitoring Independent Chair Allow Inventory Real-time Visibility Into Practices -
Slide 25: Board Of Directors: Enriching Kalyan With Their Expertise And Insight
Board of Directors Board Of Directors: Enriching Kalyan With Their Expertise And Insight Visionary Promoters: Laying Out Business Strategy Mr. Vinod Rai Mr. T.S. Kalyanaraman Mr. T.K. Seetharam Mr. T.K. Ramesh Chairman & Independent Managing Director Whole-time Director Whole-time Director Non-Execu
Slide 26: Professional Management Team Driving Business Growth & Expansion
Management Team Professional Management Team Driving Business Growth & Expansion Mr. SANJAY RAGHURAMAN Chief Executive Officer CEO instrumental in driving geographical expansion and evolution into a pan India business, • Qualified CA and CWA supported by a strong and experienced team of cross functi
Slide 27: Strategic Priorities
03 STRATEGIC PRIORITIES ‘ KALYAN JEWELLERS
Slide 28: A Purpose-led Growth Across Different Phases
History & Future roadmap A Purpose-led Growth Across Different Phases PHASE I PHASE II PHASE III PHASE IV 1993-2003 2004-2011 2012- 2021 Since IPO and Road Ahead Strengthening Growing In Pan-India Expansion, Capitalising On The Foundation – Our Roots Southern India Professionalisation & Investment P
Slide 29: Our Strategic Priorities: Balancing Growth And Expansion
Long-term objectives & priorities Our Strategic Priorities: Balancing Growth And Expansion LONG-TERM OBJECTIVES Leverage Scalable Business Widen Product Offerings To Leverage “My Kalyan” Invest In CRM, Model To Expand Showroom Further Increase Consumer Network To Deepen Customer Marketing And Analyt
Slide 30: Way Forward
Long-term objectives & priorities Way Forward Same Stores Reward Return Profile India Expansion International Expansion Sales Growth Shareholders Target same stores sales • Capital-efficient franchise • To increase the share of • Calibrated expansion in • Use the benefits of growth of mid to high st
Slide 31: Performance Review
04 PERFORMANCE REVIEW ‘ KALYAN JEWELLERS
Slide 32: Kalyan Jewellers Has Made Significant Progress Over the Past Few Years
Recap of Performance through COVID Kalyan Jewellers Has Made Significant Progress Over the Past Few Years Meaningful Progress Across Key Business Metrics … … Supported by Clear Strategic Steps/Direction & Execution FY20 FY24 TTM Clear Strategic Direction Towards Capital-Efficient Growth, ROCE Accret
Slide 33: Ushering Into New Era of Growth With Franchise Model
Franchise Model Ushering Into New Era of Growth With Franchise Model 1st Franchise store at Aurangabad, Maharashtra First showroom 200+ showrooms launch Q1FY23 FY25 End Now 137 Kalyan showrooms in India, 36 Candere showrooms in India, 4 Kalyan showrooms in Middle East Objectives: Recent Update: • Fo
Slide 34: India: Q3FY25 Performance Summary
India performance India: Q3FY25 Performance Summary • Added 24 new showrooms during Q3FY25 in India Revenue (₹mn) (base quarter, Q3FY24 saw launch of 22 showrooms) No. of Showrooms • Revenue growth of ~42% when compared to Q3FY24 63,925 driven majorly by healthy SSSG of 24% 253 • New customer additi
Slide 35: India: Q3FY25 Performance Summary
India performance India: Q3FY25 Performance Summary South Revenue (₹mn) • Robust revenue growth across markets and Non-South Revenue (₹mn) categories aided by strong same-store-sales 35,950 27,976 growth (SSSG) • SSSG: South 23%, Non-South 25% 20,746 24,371 • Non-south share at 56% compared to 54% Y
Slide 36: ME: Q3FY25 Performance Summary
ME performance ME: Q3FY25 Performance Summary Revenue (₹mn) • Consumer sentiment remained robust despite volatile gold prices No. of Showrooms • Healthy same-store-sales-growth (SSSG) 8,403 of ~16% 36 34 • Studded share at 18.7% Vs 18.8% YoY 6,826 and 18.6% QoQ • Higher share of revenue from FOCO sh
Slide 37: Consolidated: Q3FY25 Performance Summary
Consolidated performance Consolidated: Q3FY25 Performance Summary Revenue (₹mn) Gross Profit (₹mn) 8,998 72,869 7,615 52,231 Q3FY24 Q3FY25 Q3FY24 Q3FY25 EBITDA (₹mn) PAT (₹mn) 2,187 4,388 1,804 3,698 Q3FY24 Q3FY25 Q3FY24 Q3FY25 KALYAN JEWELLERS INDIA LIMITED 36
Slide 38: Historical Financial Performance Summary
Consolidated performance Historical Financial Performance Summary Revenue (₹mn) • TTM Profit After Tax of ₹ 6641 mn in consolidated EBITDA1 (₹mn) & EBITDA Margins (%) 2,34,228 business - PAT CAGR of 47% over the last 4 years (FY20) 7.9% 7.5% 7.5% 7.1% 1,85,483 • Significant improvement in the return
Slide 39: Continued Focus On Strengthening Balance Sheet
Consolidated performance Continued Focus On Strengthening Balance Sheet Net Debt to Equity (x) Net Debt 2 to Equity (with GML) Net Debt 3 to Equity (without GML) 1.3 0.8 0.7 0.6 0.5 0.2 0.02 FY20 FY23 FY24 H1 FY25 -0.06 Note: 1. GML: Gold Metal Loan 2. Net Debt calculated as (non-current borrowings
Slide 40: Q3FY25 India: Income Statement
Standalone India performance Q3FY25 India: Income Statement Particulars (₹mn) Q3FY25 Q3FY24 YoY Q2FY25 QoQ Revenue 63,925 45,117 42% 52,268 22% Gross Profit 7,610 6,522 17% 6,372 19% Gross Profit Margins % 11.9% 14.5% 12.2% Total Opex 3,845 3,360 14% 3,741 3% Advertisement & Promotion 1,147 1,055 9%
Slide 41: Q3FY25 ME: Income Statement
Middle East performance Q3FY25 ME: Income Statement Particulars (₹mn) Q3FY25 Q3FY24 YoY Q2FY25 QoQ Revenue 8,403 6,826 23% 8,004 5% Gross Profit 1,247 1,027 21% 1,157 8% Gross Profit Margins % 14.8% 15.0% 14.5% Total Opex 602 497 21% 551 9% Advertisement & Promotion 168 116 45% 144 17% Other Opex 43
Slide 42: Q3FY25 Consolidated Income Statement
Consolidated performance Q3FY25 Consolidated Income Statement Particulars (₹mn) Q3FY25 Q3FY24 YoY Q2FY25 QoQ Revenue 72,869 52,231 40% 60,655 20% Gross Profit 8,998 7,615 18% 7,652 18% Gross Profit Margins % 12.3% 14.6% 12.6% Total Opex 4,609 3,916 18% 4,379 5% Advertisement & Promotion 1,366 1,177
Slide 43: Standalone Income Statement
Standalone India Performance Standalone Income Statement Particulars (₹mn) TTM FY24 FY23 Revenue 2,01,824 1,57,826 1,15,840 Gross Profit 26,208 22,911 18,100 Gross Profit Margins % 13.0% 14.5% 15.6% Total Opex 14,031 11,754 8,769 Advertisement & Promotion 3,841 3,112 2,412 Other Opex 10,190 8,642 6,
Slide 44: Consolidated Income Statement
Consolidated Performance Consolidated Income Statement Particulars (₹mn) TTM FY24 FY23 Revenue 2,34,228 1,85,483 1,40,714 Gross Profit 31,197 27,137 21,992 Gross Profit Margins % 13.3% 14.6% 15.6% Total Opex 16,714 14,010 10,852 Advertisement & Promotion 4,492 3,553 2,881 Other Opex 12,221 10,458 7,
Slide 45: Standalone Balance Sheet
Standalone India Balance Sheet Standalone Balance Sheet As at As at As at As at Particulars (₹mn) Particulars (₹mn) 31 March 2024 30 September 2024 31 March 2024 30 September 2024 Equity and Liabilities Assets I. Equity I. Non-current Assets (a) Equity Share Capital 10,300.53 10,312.32 (a) Property,
Slide 46: Consolidated Balance Sheet
Consolidated Balance Sheet Consolidated Balance Sheet As at As at As at As at Particulars (₹mn) Particulars (₹mn) 31 March 2024 30 September 2024 31 March 2024 30 September 2024 Equity and Liabilities Assets I. Equity I. Non-current Assets (a) Equity Share Capital 10,300.53 10,312.32 (a) Property, P
Slide 47: For further information, please contact
For further information, please contact CIN: L36911KL2009PLC024641 CIN: U74140MH2010PTC204285 Tel : +91 487 24 37 333 Mr. Rahul Agarwal / Mr. Aakash Mehta Fax : +91 487 24 37 334 rahul.agarwal@sgapl.net / aakash.s.m@sgapl.net Email: investor.relations@kalyanjewellers.net +91 98214 38864 / +91 98706
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