Kalyan Jewellers India announced that the Board of Directors of the Company at its meeting held on 15 May 2023, inter alia, have recommended the final dividend of Rs 0.5 per equity Share (i.e. 5%) , subject to the approval of the shareholders.

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Earnings before interest, taxes, depreciation and amortization (EBITDA) stood at Rs 257 crore in Q4 FY23 as compared to Rs 218 crore posted in the same quarter previous year, recording a growth of approximately 18%.

On standalone basis, revenue of the company (India) in Q4 FY23 was at Rs 2,805 crore as against Rs 2,399 crore in Q4 FY22, registering the growth of 17%.

EBITDA in India was at 217 crore for the quarter, compared to Rs 188 crore posted in the same quarter previous year, a growth of approximately 15%.

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.

In the Middle East, total revenue from operations stood at Rs 549 crore in Q4 FY23, registering the growth of 29% as compared with Rs 425 crore recorded in same quarter previous year. The Middle East operations recorded EBITDA of Rs 42 crore for the quarter, a growth of 27% from Rs 33 crore in Q4 FY22. The Middle East region contributed around 16% to the overall consolidated revenue of the company.

On full year basis, the company's consolidated net profit jumped 93.18% to Rs 433.10 crore on 30.08% rise in net sales to Rs 14,071.44 crore in FY23 over FY22.

Ramesh Kalyanaraman, executive director, Kalyan Jewellers India, said, “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.”

Meanwhile, the board has recommended a dividend of Rs 0.50 per equity share for FY23, subject to shareholders' approval.

Headquartered in Kerala, Kalyan Jewellers is one the largest jewellery retailers in India with a presence in the Middle East.

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Net profit of Kalyan Jewellers India declined 3.06% to Rs 70.09 crore in the quarter ended March 2023 as against Rs 72.30 crore during the previous quarter ended March 2022. Sales rose 18.37% to Rs 3381.80 crore in the quarter ended March 2023 as against Rs 2857.07 crore during the previous quarter ended March 2022.

For the full year,net profit rose 93.17% to Rs 433.11 crore in the year ended March 2023 as against Rs 224.21 crore during the previous year ended March 2022. Sales rose 30.08% to Rs 14071.45 crore in the year ended March 2023 as against Rs 10817.93 crore during the previous year ended March 2022.

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Net profit of Kalyan Jewellers India declined 6.21% to Rs 66.10 crore in the quarter ended March 2023 as against Rs 70.48 crore during the previous quarter ended March 2022. Sales rose 16.95% to Rs 2805.37 crore in the quarter ended March 2023 as against Rs 2398.79 crore during the previous quarter ended March 2022.

For the full year,net profit rose 82.01% to Rs 389.81 crore in the year ended March 2023 as against Rs 214.17 crore during the previous year ended March 2022. Sales rose 27.91% to Rs 11584.02 crore in the year ended March 2023 as against Rs 9056.09 crore during the previous year ended March 2022.

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