Kalyan Jewellers FY22 PAT at Rs 224 cr; 26% revenue growth in FY22

Kalyan Jewellers India has recorded a consolidated revenue of Rs 10,818 crore in FY2022, the highest revenue in the history of the company so far, despite disruptions to business due to COVID 2nd and 3rd waves during the year. The consolidated PAT (profit after tax) for FY2022 was Rs 224 crore. The PAT for the last three quarters was Rs 275 crore.

Consolidated revenue for Q4FY22 was reported at Rs 2,857 crore, as against Rs 3,057 crore in the corresponding quarter of the previous year. The company recorded Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) of Rs 218 crore during Q4 FY22, compared to Rs 228 crore in the same quarter of the previous year.

Consolidated PAT for the quarter was Rs 72 crore, as against a PAT of Rs 74 crore for the same period of the previous financial year. The standalone revenue for the company (India) was Rs 2,399 crore, as against Rs 2,615 crore in Q4 of the previous financial year.

The India operations recorded EBITDA of Rs 188 crore for the quarter, compared to Rs 194 crore in the same quarter of the previous year. PAT (India) for the quarter was Rs 70 crore, compared to a PAT of Rs 66 crore in the corresponding quarter of the previous year.

Total revenue from the Middle East operations during Q4 FY22 was Rs 425 crore, at similar levels to the corresponding quarter of the previous year.

The Middle East region contributed ~15% to the overall consolidated revenue of the company. The Middle East operations recorded EBITDA of Rs 33 crore for the quarter, compared to Rs 30 crore in the same quarter of the previous year. PAT for the quarter was at Rs 4.3 crore, compared to a PAT of Rs 7 crore in the corresponding quarter of the previous year.

The e-commerce division, Candere, has continued its growth momentum. The revenue for the recently concluded quarter was Rs 39 crore versus Rs 22 crore in Q4FY21, a growth of 78%. The quarter recorded a loss of Rs 2.7 crore versus a profit of Rs 53 lakh for the corresponding quarter of the previous year.

Presently, the company’s retail footprint is spread across 154 stores in 21 Indian states and 4 countries in the Middle East, with a retail area exceeding 540,000 sq. ft.

Commenting on the performance, Ramesh Kalyanaraman, Executive Director, Kalyan Jewellers India, said, “Q4 started with a very high base and also faced disruptions to showroom operations during the first half of the quarter due to Omicron driven wave. The quarter also saw extreme volatility in gold prices driven by the geo- political situation in Ukraine and its related impact on demand. We ended the quarter with a marginal de-growth but as a team we are very satisfied with the outcome.”

“This Akshaya Tritiya (FY2022-23) was excellent with significant traction across all regions including the non-south markets. We witnessed significant growth not just in terms of value but footfalls as well. April and the first week of May have been very encouraging both in India as well as the Middle East and are in line with our plan for the current year,” he added.