Kalyan Jewellers records FY24 revenue of Rs 18,548 Cr; PAT grows by 38%

Recommends Rs 120 Cr dividend pay-out; more than double of FY2023 dividend

Bengaluru, 10th May 2024: Kalyan Jewellers India Limited recorded a consolidated revenue of Rs 18,548 crore in FY24 as against Rs 14,071 crore in the previous year, a growth of 32%. Consolidated PAT for FY24 was Rs 596 crore.

Standalone revenue for the company (India) in FY24 was Rs 15,783 crore, as against Rs 11,584 crore in the previous financial year, a growth of 36%. PAT (INDIA) for the year was Rs 554 crore compared to a PAT of Rs 390 crore in the previous financial year, a growth of 42%.

Consolidated revenue for Q4FY24 was Rs 4,535 crore as against Rs 3,382 crore in the corresponding quarter of the previous year, a growth of over 34%. Consolidated PAT for the quarter was Rs 137 crore, as against Rs 70 crore for the same period in the previous financial year, a growth in excess of 96%.

The standalone revenue for the company (India) in Q4 FY24, was Rs 3,876 crore, as against Rs 2,805 crore in Q4 of the previous financial year, a growth of 38%. PAT (INDIA) for the quarter was Rs 131 crore compared to a PAT of Rs 66 crore in the corresponding quarter of the previous year, a growth of 99%.

Total revenue from the Middle East operations during Q4 FY24 was Rs 624 crore as against Rs 549 crore in Q4 of the previous financial year, a growth of 14%. PAT for the quarter was at Rs 9.9 crore compared to a PAT of Rs 5.6 crore in the corresponding quarter of the previous year, a growth of 76%. The Middle East region contributed 14% to the overall consolidated revenue of the company.

Kalyan’s digital-first platform, Candere, recorded a revenue of Rs 36 crore for Q4 FY24 versus Rs 32 crore in the corresponding quarter of the previous year. The quarter recorded a loss of Rs 70 lakh as against a loss of Rs 1.9 crore for the corresponding quarter of the previous year.

The Board of directors of the company has recommended a final dividend of Rs 1.2 per equity share for the financial year ended 31 March 2024, subject to the approval of shareholders. This represents a pay-out in excess of Rs 120 Cr, more than 20% of the net profit generated during FY 2024.

Mr Ramesh Kalyanaraman, Executive Director, Kalyan Jewellers India Limited said, “We completed an excellent financial year and have started the new year on a strong note despite continuing volatility in gold prices. We are witnessing encouraging momentum in consumer demand, especially around the wedding purchases during the current quarter and Akshaya Tritiya.”