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Jefferies starts Kalyan Jewellers at Buy, flags 34% upside

Jefferies initiated Buy coverage on Kalyan Jewellers with an Rs 830 target, citing jewellery-market formalisation, franchise-led expansion and a net-cash balance sheet. The retailer reported Q1 revenue growth of 45.7% and net-profit growth of 32%, though EBITDA margin declined.

Newer report , , NDTV Profit : Kalyan Jewellers slides 10.4% in four sessions despite 47% Q1 revenue growth

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Reported figures

From the report. Source details below

Share price: Rs 621.50 at 9:32 a.m.; intraday high Rs 630
Q1 consolidated net profit: Rs 349 crore, up 32% YoY
Q1 revenue: Rs 10,589 crore, up 45.7% YoY
Q1 EBITDA: Rs 632.5 crore, up 20.9% YoY
EBITDA margin: 6.0%, versus 7.2% a year earlier
Expected EPS CAGR: 21% from FY26 to FY29

The source

Source Read the source at NDTV Profit Published

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