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Kalyan Jewellers records FY23 revenue of Rs 14,071 Cr; nearly doubling its PAT

Kalyan Jewellers India reported a net profit of ₹71 crore for the fourth quarter of FY23, registering a decline of 1.6% from ₹72 crore in the year-ago quarter.


The company’s consolidated revenue during Q4FY23 increased 18.4% to ₹3,381.8 cr from ₹2,857 crore, YoY.


At the operational front, earnings before interest, taxes, depreciation and amortisation (EBITDA) rose 17.5% to ₹256.7 crore from ₹218.5 crore, YoY, while EBITDA margin remained flat at 7.6%.


The company’s board has also recommended a final dividend of ₹0.50 per equity share, aggregating to 5% of face value of ₹10 each, for the financial year ended March, 31, 2023Kalyan Jewellers India Limited recorded a consolidated revenue of Rs. 14,071 crore in FY23 as against Rs 10,818 crore in the previous year, a growth of over 30%. The consolidated PAT for FY23 was Rs 432 crore, despite a one-time exceptional pre-tax write off of ~33 crore relating to the divestment of certain non-core assets. Excluding the write off, adjusted PAT for the year more than doubled to Rs 457 crore, when compared to the previous financial year.


Consolidated revenue for Q4FY23 was Rs 3,382 crore as against Rs 2,857 crore in the corresponding quarter of the previous year, a growth of ~18%. The company recorded Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) of Rs 257 crore during Q4 FY23 compared to Rs 218 crore in the same quarter of the previous year, a growth of ~18%.


Consolidated Adjusted PAT for the quarter was Rs ~95 crore, as against Rs 72 crore for the same period in the previous financial year, a growth in excess of 30%. The standalone revenue for the company (India) in Q4 FY23, was Rs 2,805 crore, as against Rs. 2,399 crore in Q4 of the previous financial year, a growth of ~17%.


The India operations recorded EBITDA of Rs 217 crore for the quarter, compared to Rs. 188 crore in the same quarter of the previous year, a growth of ~15%. Adjusted PAT (INDIA) for the quarter was Rs 91 crore compared to a PAT of Rs 70 crore in the corresponding quarter of the previous year, a growth of ~30%.


Total revenue from the Middle East operations during Q4 FY23 was Rs 549 crore as against Rs 425 crore in Q4 of the previous financial year, a growth of ~29%. The Middle East operations recorded EBITDA of Rs 42 crore for the quarter compared to Rs 33 crore in the same quarter of the previous year, a growth of ~27%. PAT for the quarter was at Rs 5.6 crore compared to a PAT of Rs 4.3 crore in the corresponding quarter of the previous year, a growth of ~30%. The Middle East region contributed ~16% to the overall consolidated revenue of the company.



The e-commerce division, Candere, recorded a revenue of Rs. 32 crore for the quarter versus Rs. 39 crore in the corresponding quarter of the previous year. The quarter recorded a loss of Rs. 1.9 crore as against a loss of Rs 2.7 crore for the corresponding quarter of the previous year.



Ramesh Kalyanaraman, Executive Director, Kalyan Jewellers India Limited said, “We completed an excellent year and have announced our maiden dividend to reward our shareholders. With a strong Akshaya Tritiya, we have had a fantastic start to the current financial year as well. We are also witnessing encouraging momentum in consumer demand especially around wedding purchases. We are upbeat about the season and have fully geared up the system to ensure that we have yet another memorable quarter.”




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