“Kalyan Jewellers: आपके निवेश का सुनहरा साथी, हर मोड़ पर भरोसे का नाम।”

Fundamental Analysis Q2 FY26 Results (Released on 7 Nov 2025):

Kalyan Jewellers reported a net profit of ₹260 crore, doubling from ₹130 crore in the same period last year. Revenue grew 37.4% YoY to ₹7,856 crore, driven by strong demand across segments including gold and studded jewellery. EBITDA grew 55.8% to ₹497 crore, margins improved to 6.3%. Company expanded new stores with strong same-store sales growth of 16%. Middle East revenues grew 8%, and the e-commerce arm Candere is scaling but still loss-making. Despite gold price inflation, demand remained robust with 38% new customer addition. Valuation & Financials: P/E ratio around 67.5, indicating premium pricing. ROCE is a healthy 20.9%. Market cap approximately ₹53,000 crore. Strong balance sheet and effective cost management. Technical Analysis Current Price: ₹512 approx (Nov 6-7) Support Levels: ₹500-505 (strong buying zone) Resistance Levels: ₹525-535 (profit-booking zone) Indicators: RSI around 49 (neutral), MACD and stochastic oscillator indicating consolidation with bullish bias. The stock trades close to 50 & 200-day moving averages signaling possible setup for an upward move. Stock Movement Post Results Results positive with strong revenue and profit growth; price likely to see neutral to positive momentum. Short-term volatility expected within ₹500-530 range. Long-term prospects remain bright given solid expansion plans and strong brand positioning. Entry & Trade Levels Short-term: Buy on dip near ₹500-505 with stop loss at ₹490 for safety. Long-term: Accumulate on weakness below ₹490, with a target price of ₹550+ over 6-12 months