Kalyan Jewellers share price today

Kalyan Jewellers India Ltd's share price was ₹590.75 at the close on 6 November 2026. It has been rising for 13 weeks. That is 16.9% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹339 and ₹616, and at that close it sat 91% of the way up from that low.

A share price tends to move through four phases: moving sideways (stage 1), rising (stage 2), stalling near a high (stage 3) and falling (stage 4). Today Kalyan Jewellers India Ltd is in stage 2. The phase helps read everything below.

Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 1 week in a row.

Over the last 5.6 years the share price moved +686% while the NIFTY 500 moved +78%, so it is ahead of the index over that whole period. The chart above shows the 13-week comparison for every week.

This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row.

1. Revenue up on a year earlier for 11 quarters in a row (every quarter we can compare)

   In the June 2026 quarter revenue was ₹10,589 crore, +45.7% on a year earlier.

   Why: Sales rose because the India business sold much more than a year earlier.

   Next results: check whether the first Chennai store for the new Tamil Nadu brand opens on time and whether the next four stores follow.

   From the earnings call on 4 Aug 2026.

3. Profit up on a year earlier for 7 quarters in a row

   In the June 2026 quarter profit was ₹349 crore, +32.2% on a year earlier.

   Why: Profit rose because the India business made more money.

   Next results: check whether the company keeps its profit margin before tax at last year's level, as management expects.

   From the earnings call on 4 Aug 2026.

For April to June 2026 (the quarter ended 30 June 2026), Kalyan Jewellers reported revenue of ₹10,589 crore, up 45.7% from ₹7,268 crore a year earlier, and a profit of ₹349 crore, up 32.2% from ₹264 crore.

Kalyan Jewellers results: April to June 2026 against a year earlier

The next results, for July to September 2026, are due by 14 November 2026: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter).

Kalyan Jewellers' management discussed these results on a call held on 4 August 2026; what it said is further down this page.

From the company's reported quarterly results (quarter ended 30 June 2026). Revenue and profit in ₹ crore.

Kalyan Jewellers closed at ₹590.75 on 6 November 2026, up 15.2% from ₹512.80 a year earlier (7 November 2025) and up 657.4% over five years. Its highest weekly close since March 2021 was ₹777.80 on 3 January 2025.

Kalyan Jewellers share price: then and now

Weekly closing prices. Each change is the move from that price to the 6 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes.

301 weekly closes from 26 March 2021 to 6 November 2026.

6 Nov 2026: Kalyan Jewellers closed at ₹590.75, up 18.6% on the week and up 6.6% on the month. 11 Sep 2026: ex-date for a dividend of ₹2.50 a share, record date 12 Sep 2026.

Earlier

• Our read, 22 Aug 2026: FOCO franchise partners fund store capital spending and inventory while Kalyan operates stores under margin sharing; management indicated franchise-partner ROCE of 14%.,Gold recirculation, cash-for-gold adoption and Candere throughput are the main offsets to exchange-related margin dilution.,The August call guided land-sale consideration of about ₹102 Cr before quarter-end and non-GML repayment by end-September, but execution and margin parity remain monitorables.
• 4 Aug 2026: Kalyan Jewellers held its results call for April to June 2026. Management guided: Recycled gold share maintained at 55-60% of revenue going forward.
• Results for April to June 2026: Revenue up 45.7% and profit up 32.2% on a year earlier.

Our read of the business

FOCO franchise partners fund store capital spending and inventory while Kalyan operates stores under margin sharing; management indicated franchise-partner ROCE of 14%.,Gold recirculation, cash-for-gold adoption and Candere throughput are the main offsets to exchange-related margin dilution.,The August call guided land-sale consideration of about ₹102 Cr before quarter-end and non-GML repayment by end-September, but execution and margin parity remain monitorables.

Latest quarter: Revenue Expanded 45.7% on a year earlier; profit Rose 32.2% on a year earlier While Ex-Bullion profit before tax Margin Moderated.

Our read after the latest results, written 22 August 2026.

Kalyan Jewellers paid ₹2.50 a share in regular dividends in the 12 months to 7 November 2026 (1 payment), a yield of 0.42% at the ₹590.75 close on 6 November 2026. The last was a dividend of ₹2.50 a share, ex-date 11 September 2026.

Kalyan Jewellers dividends since 1 April 2021

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date.

Yes. Kalyan Jewellers India Ltd paid out 19% of its profit as dividends in FY26, and it paid a dividend in 4 of its last 11 reported years.

From the NSE corporate-actions record, read 7 November 2026.

On the call for April to June 2026, held on 4 August 2026, Kalyan Jewellers' management guided: Recycled gold share maintained at 55-60% of revenue going forward.

“Even on a conservative basis, I think we will be able to maintain the PBT margins of the previous year.”Ramesh Kalyanaraman, on the call for April to June 2026

What management guided

• ATM first showroom launch on August 21 in Chennai, followed by four more showrooms in coming months.
• Non-core land-sale consideration around ₹102 crore expected before quarter-end; non-GML debt repayment by end-September, followed by collateral-release steps.
• Kalyan India showroom additions above 80 in FY27 unchanged.
• Candere showroom additions at 50 in FY27 unchanged.

Management’s own plans and goals, from our notes of the call. A plan is not a result.

Source: the call transcript.

From the call for April to June 2026, 4 August 2026.

A sustained fall in revenue growth below 15% together with operating margin below 5.0%, a failure to complete the stated non-GML repayment plan, or evidence that franchise-store throughput is weakening.

Each change stops working if

• : Franchise-partner returns or store throughput weaken enough to slow partner sign-ups.
• : Inventory additions fail to improve existing-store throughput or Candere returns to losses.
• : Cash-for-gold uptake does not offset exchange-related dilution.
• : The Chennai pilot and follow-on openings fail to establish viable customer traction.

The main risks

• : Board-rate exchange purchases diluted margin by 0.2%-0.3% according to management. ⚠ estimate
• : Higher gold prices can reduce physical purchase volume for budget-constrained customers. ⚠ estimate
• : The regional-brand launch moved beyond the previously stated January to March 2026 goal. ⚠ estimate
• : The November call reported 52% attrition in the My Kalyan division. ⚠ estimate

Our read after the latest results, written 22 August 2026.

When Kalyan Jewellers reports July to September 2026, these are the 4 checks that show whether the story is still on course. First: Profit before tax margin parity under exchange mix and employee-cost pressure - check whether next-quarter operating leverage supports the full-year framework.

Kalyan Jewellers is on 2 of our India lists: Small & mid cap stocks and Gold & silver stocks.

Kalyan Jewellers India Ltd earned ₹349 Cr of net profit in the Jun 2026 quarter, +32.2% on the same quarter a year earlier. That is the 7th quarter in a row of profit growth. Full-year FY26 profit was ₹1,350 Cr. Over 10 years profit has grown 49.0% a year on average. That is 3.3% of the quarter's revenue.

Net profit is what is left after every cost, interest and tax. Earnings per share, dividends and book value all grow from it.

The same quarter a year earlier earned ₹264 Cr.

For the full year, FY26 profit was ₹1,350 Cr (+89.1% on the year before).

Why profit moved: revenue changed +45.7% on a year earlier and the margin moved −1.0 percentage points. Sales did the work, and the margin was about flat.

On average over the last four quarters, profit changed +85.3% and revenue +45.9%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit.

FY26-Q4. revenue ₹10,275 Cr and profit ₹410 Cr as reported.

FY27-Q1. revenue ₹10,589 Cr and profit ₹349 Cr as reported.

Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters.

Kalyan Jewellers India Ltd reported ₹10,589 Cr of revenue in the Jun 2026 quarter, +45.7% on the same quarter a year earlier. That is the 12th quarter in a row with growth on the year before. Over 10 years it has grown 16.2% a year on average. The last full year, FY26, came in at ₹35,743 Cr.

Revenue is everything the company billed its customers in the period.

Why this happened. Adoption and realized margin protection need confirmation in subsequent quarters.

The last four reported quarters add to ₹39,063 Cr.

FY26 revenue was ₹35,743 Cr, +42.7% on the year before.

Recent pace: the last four quarters grew +45.9% on average, against 16.2% a year over the longer run, so this year is growing faster than its own long-run rate.

Is growth speeding up? Revenue over the last 12 months grew +45.8%, against +40.8% a year over the last 8 quarters (accelerating); profit over the last 12 months grew +79.3%, against +51.0% a year (accelerating).

FY26-Q4. revenue ₹10,275 Cr and profit ₹410 Cr as reported.

FY27-Q1. revenue ₹10,589 Cr and profit ₹349 Cr as reported.

Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters.

Kalyan Jewellers India Ltd's operating margin was 6.0% in the Jun 2026 quarter, 1.0 percentage points lower than the same quarter a year ago. Across 11 years it has been between 3.0% and 8.0%. The latest quarter is within that range.

Operating margin is what is left from every ₹100 of sales after the costs of running the business, before interest and tax. It shows pricing power and cost control.

Why the margin moved: operating margin changed −1.0 percentage points on the year while gross margin changed −1.9 points. So the drop came mostly from the gross margin, which means input costs and prices charged.

FY26-Q4. revenue ₹10,275 Cr and profit ₹410 Cr as reported.

FY27-Q1. revenue ₹10,589 Cr and profit ₹349 Cr as reported.

Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters.

Over the last 3 years, 145% of Kalyan Jewellers India Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹1,318 Cr of operating cash against ₹1,350 Cr of profit. After ₹899 Cr of spending on assets, ₹419 Cr was left over as free cash.

The profit and loss account shows what was earned. The cash-flow statement shows the cash that actually came in. Comparing operating cash flow with profit is one of the best checks that a profit is real.

Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year.

Why 145% of profit came in as cash: the cash cycle got 105 days shorter between FY21 and FY26, so cash that used to wait in the business now arrives sooner.

What to look at next: the bigger use of cash is spending on new assets, at 2.4× depreciation over three years. The next section checks what that spending is building.

Kalyan Jewellers India Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 136 days in FY26, down from 241 days in FY21. It spent ₹2,447 Cr on assets over the last 3 years. Customers take 9 days to pay, and stock sits for 167 days on average.

Working capital is the cash tied up between paying suppliers and getting paid. Debtor days: how long customers take to pay. Inventory days: how long stock sits. The cash cycle: the whole loop, in days of sales.

At FY26 sales of ₹35,743 Cr, each day of that cycle ties up about ₹97.9 Cr, so roughly ₹13,318 Cr is tied up in the business at any time.

FY26: customers took 9 days to pay and stock sat for 167 days, about 5.5 months of sales sitting as stock, for a full cycle of 136 days, shorter than FY21's 241.

The full loop: cash goes out to suppliers and production on day 0. Stock sits for 167 days. Customers pay about 9 days after that. Suppliers are paid at 40 days. Together that makes the 136-day cycle.

Spending on assets: ₹2,447 Cr over the last 3 years, against ₹1,040 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹18.0 Cr (FY26): assets paid for that are not earning yet.

In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns.

Kalyan Jewellers India Ltd's P/E is 41.8×, in the middle of its own history: higher than 46% of past readings. Its usual P/E (the middle reading) is 44.3×, over 5.6 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth.

P/E is the share price divided by a year's profit per share: how many rupees the market pays for each rupee of yearly profit.

The P/E here, and its history, use a profit figure that can leave out one-off items, so it can differ from a P/E worked out on the quarterly results. Those results' earnings per share for the four quarters to Jun 2026 add up to ₹13.90.

Why the multiple is where it is: over the past year earnings per share moved +88.7% while the price moved +15.2%. Earnings did better than the price, which pulled the multiple down within its own range.

Where the price move came from: over 5 years the price moved +49.9% a year; about +47.8% a year came from earnings growth and about +2.1 percentage points from the multiple (the market paying more). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple.

In short: the multiple is about average against its own past, so the earnings trend underneath matters more than the multiple.

Worked out from its price on 26 August 2026, Kalyan Jewellers India Ltd's share price assumed profit growth of about 23.4% a year. Over the past 10 years its profit actually grew 49.0% a year. Today its P/E is 41.8×, lower than 54% of its own last 5.6 years.

This works the share price backwards. It asks one question: what yearly profit growth does the price already assume? The answer is the growth rate at which eleven years of profit (six years of growth, then five years of slowing) add up to that day's market value, after each year is discounted at 11%.

This is a one-day reading, taken on 26 August 2026. Every other number on this page, the multiple included, uses the latest price as of 6 November 2026. A higher price assumes more growth and a lower price less, so it changes whenever the price changes, and this page does not update it between measurements.

Kalyan Jewellers India Ltd's business is growing steadily. Revenue, profit and EPS growth have stayed positive throughout, and ROCE is steady at 32.5%. This is based on 12 quarters of 4 measures.

Every business is somewhere on a path of getting better or worse, and this section names where. The last 12 quarters of growth in revenue, profit and earnings per share, plus the return the business earns on its capital, are read as lines. Getting worse: the lines are falling. Turning around: a low point has just formed and the last few quarters are rising from it. Getting better: the rise from the low has lasted. Growing steadily: steady growth with healthy returns. Slowing from a peak: still high, but slowing. When the lines disagree the result is mixed; too little history means no reading. CAGR (compound annual growth rate) is the steady yearly rate that would turn the starting value into the latest one. It is the fairest way to compare growth over different periods. If the 1-year figure is much bigger than the 10-year one, recent growth is running faster than the long-run trend. A dash means there is no figure for that period, or the starting year was a loss, where a growth rate means nothing.

Why it matters: steady growth with healthy returns is how a business compounds over time.

Compound annual growth rate (%)

Compound annual growth rate over each period, %. Revenue, profit and EPS come from yearly figures; the share price row is price growth over the same periods. A dash means no figure for that period, or the starting year was a loss.

Kalyan Jewellers India Ltd's story is not scored yet against the checks our research set on 22 August 2026. Where it sits in its own cycle: MID EXPANSION. Still open: A sustained fall in revenue growth below 15% together with OPM below 5.0%, a failure to complete the stated non-GML repayment plan, or evidence that franchise-store throughput is weakening.

NOT YET CHECKED

From the price. Price stage 2, week 13, below its 200-day line, relative strength falling.

What is not proven yet. A sustained fall in revenue growth below 15% together with OPM below 5.0%, a failure to complete the stated non-GML repayment plan, or evidence that franchise-store throughput is weakening.

What would change our mind. A sustained fall in revenue growth below 15% together with OPM below 5.0%, a failure to complete the stated non-GML repayment plan, or evidence that franchise-store throughput is weakening.

The test written in advance. A sustained fall in revenue growth below 15% together with OPM below 5.0%, a failure to complete the stated non-GML repayment plan, or evidence that franchise-store throughput is weakening. Measured by: the thesis as written as stated by the next result.

The test written in advance. Gold Exchange Mix Dilution and Promotional Intensity. Measured by: Gold Exchange Mix Dilution and Promotional Intensity Ex-bullion PBT margin remains below 5.1% for two consecutive quarters. by the next result.

The test written in advance. Gold Price Spikes Impacting Consumer Volume Demand. Measured by: Gold Price Spikes Impacting Consumer Volume Demand Same-store sales growth weakens materially while gold prices rise. by the next result.

What the company does. FOCO franchise partners fund store capex and inventory while Kalyan operates stores under margin sharing; management indicated franchise-partner ROCE of 14%. Gold recirculation, cash-for-gold adoption and Candere throughput are the main offsets to exchange-related margin dilution. The August call guided land-sale consideration of about ₹102 Cr before quarter-end and non-GML repayment by end-September, but execution and margin parity remain monitorables.

Sources: our stock research file (22 August 2026) · quarterly results through Jun 2026 · the company’s own earnings calls. The story check is re-scored every results season; the record below never changes.

What Kalyan Jewellers India Ltd's management promised, against what actually happened: 4 promises on the record. Read straight from the company’s own earnings calls. A promise that slipped stays on this page after it is met.

New Regional Brand Launch Delayed Past Committed Q4 FY26 Date · 8 May 2026. Both prior calls set an explicit commitment to launching the new regional brand in Q4 FY26, with the Nov 2025 call confirming a Q4 goal and the Feb 2026 call reaffirming the launch was due in the then-running quarter. The May 2026 call reveals the brand has still not launched, offering only a vague explanation about post-election uncertainty in the goal state and providing no revised launch date, raising material questions about execution credibility on a stated new growth vertical.

Candere FY26 Full-Year PAT Guidance Contradicted · 8 May 2026. In the Nov 2025 call, management committed to Candere achieving a full-year PAT neutral or positive result for FY26, and when directly questioned by an analyst whether this was an exit-rate goal or a full-year goal, management explicitly confirmed it was full year. The May 2026 call states Candere turned PAT positive only from the second half of FY26, implying the full year was loss-making and directly contradicting the earlier confirmed guidance with no explanation of the miss provided.

Candere FY26 Store Opening Goal of 80 Substantially Missed Without Acknowledgment · 8 May 2026. The Nov 2025 call set a specific goal of 80 Candere store openings for FY26 and management reaffirmed confidence in meeting this number when directly questioned. The May 2026 call guides FY27 Candere store openings at around 50-55 and describes this as similar to the last financial year, implying FY26 actual openings were approximately 50-55 - roughly 30% to 40% below the stated goal. The May 2026 call provides no acknowledgment of or explanation for this material shortfall.

Regional Brand Launch Timeline Miss · 6 February 2026. In August 2025, management explicitly guided for the launch of the first regional brand within the 2025 calendar year. However, in the February 2026 call, management admitted the brand is 'yet to launch' and is now aiming for the current quarter (Q4 FY26), confirming a missed deadline. Earlier call (Aug 2025): “We have drawn up plans to launch the first regional brand under this entity during this calendar year.” Later call (Feb 2026): “It is yet to launch but the regional brand will be launched in the current quarters.”

Every quote above is taken word for word from the company’s own earnings calls.

Kalyan Jewellers India Ltd earned a ROCE of 21% in FY26. That is up from a low of 7% in FY19. Its return on capital used (ROIC) is 1.8 percentage points above its cost of capital, so growth here adds value, not just size. It comes from a 3.8% net margin and 1.73× asset turnover (sales divided by assets).

Return on capital employed (ROCE) is the profit the whole business earns on all the money in it, from shareholders and lenders together. It is the best single test of whether growth adds value or just size.

Why the return is what it is (FY26): a 3.8% net margin × 1.73× asset turnover × 3.28× leverage (assets divided by equity) ≈ 21.6% on equity. The margin does its share; borrowing is a big part of it.

The key test, return on capital used minus the cost of capital: 13.8% − 12.0% = +1.8 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. Positive but thin: it creates value with little room for error.

Kalyan Jewellers India Ltd has total debt of ₹6,117 Cr against shareholder equity of ₹6,309 Cr as of Jun 2026, so its debt is 0.97× its equity. Year by year, that ratio went from 1.28 in FY22 to 0.97 in FY26. Keep that borrowing in mind when reading the returns on this page.

Debt-to-equity shows how much of the business is paid for with borrowed money. Lower is safer, and the direction matters as much as the level.

Foreign institutions cut their stake in Kalyan Jewellers India Ltd by 1.9 percentage points over 8 quarters, the biggest change among its owners. Foreign institutions now own 13.8% of the company. Domestic institutions moved +0.7 points over the same period, to 14.4%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings.

Who owns the company each quarter: promoters (the founders or controlling owners), foreign institutions, domestic institutions such as mutual funds, and the public. When people close to the business steadily raise their stake, that is worth noticing; a quiet list is also an answer.

Over the last two years: Foreign institutions: −1.9 points over 8 quarters, to 13.8%; Domestic institutions: +0.7 points over 8 quarters, to 14.4%; Promoters: +0.0 points over 8 quarters, to 62.9%.

Why the owners changed: foreign institutions drove it (−1.9 points), with the other side taken by domestic institutions (+0.7 points). They reduced their stake.

For Kalyan Jewellers India Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date.

The Z-score estimates how far a company is from balance-sheet trouble. Above about 3 is safe; below about 1.8 is the danger zone. It was built for manufacturers, so it is not used for banks and lenders.

49.8 out of 100, rank 14 of 28 in Diamond, Gems & Jewellery, with 96% of the evidence available.

Kalyan Jewellers India Ltd scores 49.8 out of 100 against the 28 companies it is compared with in Diamond, Gems & Jewellery, ranking 14. The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer.

The four parts add up to the total exactly: 22.1 + 14.1 + 6.1 + 7.5 = 49.8. This is the same number shown on the industry page; it is worked out once for the whole group and read here.

What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector.

Kalyan Jewellers ranks 14 of 28 Diamond, Gems & Jewellery companies on the 4-Factor Sector Score, with 49.8 out of 100.