Kalyan Jewellers Q4 Review - India Operations Recover Well: ICICI Securities
An employee displays gold bracelets inside a Kalyan Jewellers store in Noida. (Photographer: Prashanth Vishwanathan/Bloomberg)

Kalyan Jewellers Q4 Review - India Operations Recover Well: ICICI Securities

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

ICICI Securities Report

Kalyan Jewellers India Ltd. reported an in-line operating performance with consolidated revenues up 43% YoY [India: up 61%; Middle East (15%)].

Share of gold jewelry increased as growth in south India was better than north due to lower operating restrictions.

Even as store operations are currently impacted due to fresh restrictions, we expect the company to focus on store expansion in FY22 - it has opened nine stores in April 2021.

Likely implementation of hallmarking effective June 15 may potentially accelerate industry formalisation and we expect brands like Kalyan to benefit.

Click on the attachment to read the full report:

ICICI Securities Kalyan Jewellers Q4FY21 Result Update.pdf

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