Slides
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KALYAN JEWELLERS INVESTOR PRESENTATION August 2026 KALYAN JEWELLERS INDIA LIMITED
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This presentation and the accompanying slides (the “Presentation”), which have been prepared by Kalyan Jewellers India Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form the basis or be relied on in connection with any contract or binding commitment whatsoever. No offering of securities of the Company will be made except by means of a statutory offering document containing detailed information about the Company.This Presentation has been prepared by the Company based on information and data which the Company considers reliable, but the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this Presentation. This Presentation may not be all inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded.Certain matters discussed in this Presentation may contain statements regarding the Company’s market opportunity and business prospects that are individually and collectively forward-looking statements. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and assumptions that are difficult to predict. These risks and uncertainties include, but are not limited to, the performance of the Indian economy and of the economies of various international markets, the performance of the industry in India and world-wide, competition, the company’s ability to successfully implement its strategy, the Company’s future levels of growth and expansion, technological implementation, changes and advancements, changes in revenue, income or cash flows, the Company’s market preferences and its exposure to market risks, as well as other risks. The Company’s actual results, levels of activity, performance or achievements could differ materially and adversely from results expressed in or implied by this Presentation. The Company assumes no obligation to update any forward-looking information contained in this Presentation. Any forward-looking statements and projections made by third parties included in this Presentation are not adopted by the Company and the Company is not responsible for such third-party statements and projections. Safe Harbor
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CONTENTS01COMPANY OVERVIEW 03STRATEGIC PRIORITIES 0204INVESTMENT HIGHLIGHTSPERFORMANCE REVIEW 28-30 32-4910-26 5-8
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01COMPANY OVERVIEW
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KALYAN JEWELLERS INDIA LIMITED 5 One of India’s largest jewellery companies Introduction To Kalyan JewellersESTABLISHED IN 1993 BY MR. T.S. KALYANARAMAN.BUILT ON A RICH FAMILY LEGACY AND DECADES’ OLD INDUSTRY EXPERTISE OF ITS FOUNDER. Company at a Glance Established brand built on core values of trust & transparency One of the pioneers of introducing transparency and consumer friendly measuresProduct basket includes wide range of gold, studded and other jewellery products across price points Pan-India presence with scaled operations in the Middle East Hyperlocal business model that enables localization at scale Unique grassroots “My Kalyan” network with strong distribution capabilities for deep customer outreachProducts cater to multiple use cases ranging from special occasions such as weddings to daily wear KALYAN JEWELLERS: INDIA’S TRUSTED JEWELLER 5
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KALYAN JEWELLERS INDIA LIMITED 6 Timeline History of Trust – Thriving on a 100-Year-Old Legacy Kalyan’s First Generation1908: Started the entrepreneurial journey with the first textile mill in Kerala1913: Commenced textile retailing by opening its first showroom in Thrissur, Kerala T.S. Kalyanarama Iyer Kalyan’s Second Generation1972: The second generation expanded retail presence to more textile showrooms T.K. Seetharama Iyer Kalyan’s Third Generation1993: The third generation of Kalyan family, under the visionary leadership of Mr. T. S. Kalyanaraman, entered jewellery retailing by opening its first showroom under the brand ‘Kalyan Jewellers’ in Thrissur, Kerala T.S. Kalyanaraman Kalyan’s Fourth GenerationMr. Rajesh Kalyanaraman and Mr. Ramesh Kalyanaraman joined Mr. T. S Kalyanaraman right from the initial days of Kalyan Jewellers2014: Raised private equity from Warburg Pincus2021: Listed Kalyan on NSE & BSE via an IPO2026: As on 30th June 2026, 524 showrooms across India, USA, UK and Middle East Ramesh Kalyanaraman Rajesh KalyanaramanAmongst Few Business Houses With Over 100 Years Legacy in Corporate India
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KALYAN JEWELLERS INDIA LIMITED 7 \ Evolution Of A Trusted Pan-India Brand 1993 Opened first showroom under the brand ‘Kalyan Jewellers’ in Thrissur, Kerala 2010 Launched “My Kalyan” customer outreach initiativeEntered Telangana and Karnataka markets 2013 Entered Maharashtraand Middle East markets 2015 Entered Chennai and East India (Orissa) markets 2017 Incremental equity investmentby Warburg PincusPurchased a stake inEnovate LifestylesPrivate Limited and itsonline platform atwww.candere.com 200420122014201620182019 Key Milestones Opened first showroom outside Kerala, in Coimbatore, Tamil Nadu Opened first showroom outside South India in Ahmedabad, Gujarat Entered West Bengal and Rajasthan marketsLaunched the Kalyan Matrimony (formerly known as Sanskriti Matrimony) website Entered Northeast (Assam), Chhattisgarh and Jharkhand markets Entered Bihar market Equity investment by Warburg Pincus, a global private equity firmEntered North India(Delhi) market 2021Listed on NSE & BSE as Kalyan Jewellers India Limited - Initial Public Offering (“IPO”) 2022 Launched 1st franchise store (Aurangabad) as a pilot to a new capital efficient model expected to add a further leg of growth to the company’s own-store expansionAppointed an Independent Chairman to the Board (Vinod Rai) as a Non-Executive Director Q1FY27354 Kalyan showrooms(234 FOCO1) and 129 Candere Showrooms (73 FOCO) in India. 38 Kalyan showrooms in the Middle East, 2 Kalyan showroom in the USA, 1 FOCO in the UKLast Twelve Months Revenues of ₹3,90,633 Mn and Profit After Tax of ₹14,350 MnNote: 1 FOCO - Franchisee Owned Company Operated
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KALYAN JEWELLERS INDIA LIMITED 8 Key Highlights 16,962Employees 33 Years Since Formation 7Countries 24States and UTs in India 38Showrooms in Middle East 483Showrooms in India (including Candere) 1,157"My Kalyan"Grassroots Stores Company at a Glance 15Procurement Centres ₹3,90,633 MnCurrent Revenues(Last Twelve Months) 2Showrooms in the USA ₹14,350 MnCurrent Profit After Tax (Last Twelve Months) 1Showroom in the UK
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02INVESTMENT HIGHLIGHTS
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KALYAN JEWELLERS INDIA LIMITED 10 Kalyan Jewellers: Built On Core Competitive StrengthsKey Pillars of Strength Established Brand Built on Core Values of Trust & Transparency Trusted brand synonymous with solving key pain points of the industry 2 Pan India PresenceOne of India’s largest jewellery companies with a Pan India network of showrooms3 Hyperlocal Strategy Creating Wide Market AddressabilityHyperlocal strategy to cater to a wide range of geographies and customer segments4 Wide Range of Product OfferingsDiversified range of product offerings and sub brands targeted at a diverse set of customers5 Robust and Effective Internal Control ProcessesInformation technology and operations management systems to support a growing organization and showroom network with a pan India presence6 Effective Marketing and Promotion StrategyDesigned to reinforce local touch of a Pan India brand while maintaining consistent brand messaging7 Extensive Grassroot MyKalyan Network Enabling Deep DistributionGrassroots customer outreach network which is a key facilitator of being considered as the neighborhood jeweller in each market 8 Strong Promoters and Management LeadershipVisionary promoters and strong management team with demonstrated track record9 Leading brand in a large market with rapidly increasing organised share driven by significant growth tailwinds1 Strong Governance FrameworkEminent Board of Directors from diverse backgrounds10
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KALYAN JEWELLERS INDIA LIMITED 11 Indian Jewellery Market: Favorable Trends And CharacteristicsIndustry Overview Rising Share Of Organised Retail In Jewellery To Continue 56324095946860 2000200720202025 Organised (%)Unorganised (%) Wedding Jewellery Dominates The Industry Wedding wear60%Daily wear30%Fashion wear10% Gold Jewellery Demand And Ownership Is Higher In Rural India And Rises With Income Levels Rural India60% South Constitutes Largest Pie In The Indian Jewellery Market North20%East15%South40% Urban India40% West25% 2nd Largest gold market in the world 70% Share of gold jewellery out of the total gold demand 3rd Highest component of retail consumption Indian Jewellery Market CharacteristicsCharacterised by localised consumer preferences (‘hyperlocal’ nature) NoInventory obsolescence risk given recyclability of jewellery Source: Technopak
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KALYAN JEWELLERS INDIA LIMITED 12 Organised Jewellery Market: Structural Growth DriversKey Market Trends & Characteristics JEWELLERY IN INDIA IS A LARGE AND ATTRACTIVE MARKET WITH SIGNIFICANT TAILWINDS Shifting Customer BehaviourSuperior Organisational CapabilitiesSupportive Regulatory And Legislative ChangesCustomers’ expectation: Transparent pricing, product purity and quality standardsIncreasing brand consciousness: Increasing on the back of organised retailers’ marketing strategies After sales service: More emphasis as jewellery is either owned for a lifetime or regarded as long-time investment Retail experience: Ready made ornaments, wide product range and superior showroom experienceSafety and security: Shopping experience in spacious, hygienic surrounding; service by well-trained store personnel; robust systems Demonetization: Cashless transaction brings further transparencyGST: Enforcing tax complianceMandatory PAN: For transactions > ₹2,00,000 establishes buyer identityRural policy push: Given rural India’s higher cultural association with gold Hallmarking of gold jewellery: Compulsoryfrom 2021 Source: Technopak
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KALYAN JEWELLERS INDIA LIMITED 13 A Brand Built On Decades Of Trust And TransparencyEstablished Brand Institutionalising Highest Quality Standards Introducing Highest Degree Of Pricing Transparency For CustomersCustomer Education And Awareness BIS Hallmarking Of Gold JewelleryEven before regulatory mandatePrice TransparencyPrice tags detailing components aid price transparency before customers Product QualityKaratmeters to verify purity of gold jewelleryTransparency In Gold ExchangeTransparent exchange process; valuation and verification of purity in front of the customer Product CertificationGuarantee of purity, lifetime maintenance, exchange and buy back After-sales Service & Staff Training Staff training to drive customer satisfaction and win repeat business PIONEERS IN THE INDIAN JEWELLERY RETAILING SPACE IN:
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KALYAN JEWELLERS INDIA LIMITED 14 92%Showrooms in India (Including Candere)8%Showrooms outside India A True Pan-India Player With Expansive Geographical PresencePresence 31%South India69%Non-South India 27%Metro Presence73%Non-Metro Presence Pan-India Presence (Standalone) Pan-India Presence ~7%Organised Jewellery Market Share1 1 Source: MOFSL 10,54,300+ Pan-India 52,000+ Middle EastShowroom aggregate retail space in sq. ft. 3,500+USA2,200+UK1,38,300+Candere 7Countries24States & UTsin India 354Showrooms in India (Standalone) 1,157"My Kalyan"Grassroots Stores38Showrooms in Middle East2Showroom in the USA1Showroom in the UK129Showrooms in India (Candere) Jammu & Kashmir•2•1Chandigarh•1•1Punjab•9•3Rajasthan•11•4Haryana•16•4Madhya Pradesh•9•6Gujarat•20•10 Maharashtra•37•22 Karnataka•29•13 Kerala•20•4 Tamil Nadu•33•6 Uttarakhand•6•4Himachal Pradesh•1 Pondicherry•1Andhra Pradesh•12•4 Chhattisgarh•5•4 Odisha•14•6Jharkhand•11•2Telangana•12•4 West Bengal•12•5Assam•3•2Bihar•34•5Delhi•14•5 Uttar Pradesh•42•14Note: Map not to scale •Kalyan Jewellers Store•Candere Store
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KALYAN JEWELLERS INDIA LIMITED 15 Effective Marketing StrategyMarketing and Promotion Strategy NATIONAL BRAND AMBASSADORS ~₹17,000+ MnMarketing and Advertising Investments In Last 4 Years Prabhu GanesanTamil Nadu (Tamil) REGIONAL BRAND AMBASSADORS Pooja SawantMaharashtra (Marathi) Ritabhari ChakraborthyWest Bengal (Bengali) Kinjal Rajpriya(Gujarati) REGIONAL INFLUENCERS Nagarjuna AkkineniAndhra Pradesh, Telangana (Telugu)Shiv RajkumarKarnataka (Kannada)Kalyani PriyadarshanSouth India Amitabh Bachchan Katrina KaifJaya BachchanShweta Nanda Bachchan REINFORCING THE LOCAL TOUCH, PLAYING AS A PAN-INDIA BRAND
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KALYAN JEWELLERS INDIA LIMITED 16 Hyperlocal Jeweller Catering To Varied Geographies And Customer SegmentsHyperlocal Jeweller Localisation In Brand Communication And MarketingState and city specific brand campaignsBrand ambassadors with national, regional and local appealCommunication in local language Localisation Of Our Product Portfolio Product portfolio as per local market preferencesLocal artisans as contract manufacturers15 procurement centres across key jewellery manufacturing regions Localisation Of Our Showroom Experience For CustomersStaff who speak local language and know local cultureShowrooms reflect local tastes and sensibilities Localisation Through Our “My Kalyan” Network Focused grassroots outreach across urban, semi-urban and rural areasDedicated 4,723 “My Kalyan” personnel for door-to-door and direct marketing among local communities
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KALYAN JEWELLERS INDIA LIMITED 17 Hyperlocal Jeweller Hyperlocal Jeweller… helps build a large customer base Extensive understanding of local requirements and its design preferences Personalized shopping experience with locally recruited sales staff and sensitivities to micro market populace Unique marketing approach of localizing the brand with local superstars Wide assortment of product SKUs with designs appealing to each target micro market Mumbai Region – Localised design Thane Maharashtrian VashiSouth Indian BorivaliGujarati & North Indian Ghatkopar Gujarati Kalyan with its deep insight on local preferences has created significant barriers to entry
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KALYAN JEWELLERS INDIA LIMITED 18 “My Kalyan” Centres: Unique Grassroots Customer Outreach Network‘My Kalyan’ Network Grassroots Network: Facilitator of the neighborhood jeweller proposition in India•Grassroots outreach focused on marketing and customer engagement across urban, semi-urban and rural areas•Significant proportion of gold jewellery demand originates from rural, semi-urban markets where penetration of organised jewellery retail is low•“My Kalyan” centres provide marketing tool to address latent demand in some of these markets ACTIVITIES AND STRATEGIES IMPLEMENTED TO PROMOTE KALYAN BRANDDedicated “My Kalyan” personnel for door-to-door and direct marketing efforts among local communities Drive traffic to showroomsShowcase product catalogues Purchase advance schemes enrollment Relationship-building with players in wedding ecosystemEnrich customer database 1,157‘My Kalyan“ centres 10 MnEndeavored customers connect each year ~21%Contribution to revenue from operations in India 4,723Employees ~31%Of enrolment to purchase advance schemes in India
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KALYAN JEWELLERS INDIA LIMITED 19 Wide Range Of Product Offerings Targeted At A Diverse Set Of CustomersProduct Offerings WEDDING JEWELLERYSOLD VIA BRANDSMUHURAT TARGET AUDIENCEWEDDINGCUSTOMERS ASPIRATIONAL JEWELLERYSOLD VIA BRANDSMUDHRA, RANG TARGET AUDIENCEMID TO HIGH-ENDCUSTOMERS STAPLE REGIONALJEWELLERYSOLD VIA BRANDSAISHWARYAM TARGET AUDIENCEVALUE CONSCIOUS CUSTOMERS STUDDED JEWELLERY - DIAMOND, POLKI, UNCUT DIAMOND, PRECIOUS STONESSOLD VIA BRANDSNIMAH, TEJASVI, ZIAH, HERA TARGET AUDIENCEWEDDING, MID TOHIGH-END CUSTOMERS
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KALYAN JEWELLERS INDIA LIMITED 20 Jewellery Sub-brands Catering To Various Product Themes And Price PointsProduct Offerings GOLD, UNCUT DIAMONDS, PRECIOUS STONES AND DIAMONDSBRIDAL WEAR ANTIQUE (NON-YELLOWGOLD FINISH)OCCASION WEAR GOLD STUDDED WITH SEMIPRECIOUS STONESSOUTH INDIANHERITAGE JEWELLERY DIAMOND JEWELLERY LIGHT WEIGHT, PRONG SETTING DIAMOND JEWELLERY JEWELLERY FOR MEN DIAMOND JEWELLERY LIGHT WEAR CLUSTER SETTINGCOLLECTION DIAMOND JEWELLERY CASUAL/SEMIFORMAL/OCCASION DIAMOND JEWELLERY FANCY SHAPE/ROSE GOLD DIAMOND JEWELLERY GENERIC/AFFORDABLE/DIALY WEAR UNCUT DIAMOND STUDDEDOCCASION WEAR PRECIOUS STUDDEDJEWELLERYOCCASION WEAR POLKI COLLECTION OCCASION WEAR STUDDED JEWELLERY COLOURED STONESAND DIAMONDJEWELLERY LAUNCHED A NUMBER OF SUB-BRANDS TARGETING DIFFERENT CUSTOMER SEGMENTS AND OCCASIONS
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KALYAN JEWELLERS INDIA LIMITED 21 Leveraging Technology To Drive Footfalls, Customer Engagement And ConversionDigital Initiatives Analytics-driven Customer Outreach •Use of content marketing platform (Near Me Search) to drive search traffic to local store micro-sites•Enhancing customer conversion by following up on digital footprint Online/Omni-channel •Candere, Kalyan Jewellers’ digital-first platform provides access to customers from India, the US and the UK markets•Online Gold Ownership Certificate – wherein customers can buy online and redeem these at Kalyan Jewellers stores Digitally-enabledMy Kalyan Centres •My Kalyan staff equipped with mobile app that stores customer data and manages lead generation•My Kalyan outlets enhance the ‘Near Me Search’ functionality Improving Employee Productivity and Efficiency through Technology Advancements •Staff training conducted mostly digitally•Customer outreach via employee mobile app•Employee targets and goal achievements mapped through app, ensuring transparency and efficiency Targeted Digital Marketing through Rich Data Mining and Customer Insight •Capturing customer information at store level, running analytics and targeted campaigns•Upselling related products at point-of-sale through instant dynamic voucher codes•Social media mapping to enrich customer database
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KALYAN JEWELLERS INDIA LIMITED 22 E-Commerce Platform Candere - A Kalyan Jewellers Company 2013Candere website launchedIdentified need for versatility of precious jewellery on online platforms 2014Achieved revenue of ₹1.1 CroresEstablished a fully commercial e-commerce website 2017Kalyan Jewellers make Candere.com their online platform through an acquisition 2016Increased catalogue to 100 product categories & a variety of 4,000+ designsIncreased average ticket size and conversion ratio substantially Launched first FOCO Candere Showroom in FY24; 129 Candere Showrooms out of which 73 are FOCO, as on 30th June 2026Reported a revenue of ₹5,581 Mn in the last twelve months Customer trust and robust IT infrastructure has resulted in web traffic to increase Strong presence and user loyalty on leading marketplaces – Amazon and Flipkart Today Onboarded Shah Rukh Khan as the brand ambassador in FY26
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KALYAN JEWELLERS INDIA LIMITED 23 Akshaya Thanga Maligai (ATM)Regional Brand •Exclusively curated for the Tamil Nadu market •ATM to compete with entrenched regional organised and unorganised players •First showroom to be launched on 21st August in Chennai
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KALYAN JEWELLERS INDIA LIMITED 24 Robust And Effective Internal Processes And ControlsInternal Process and Controls Enterprise Resource Planning System Allowing Real-time Visibility Into InventoryHelpful during peak seasons, allowing management to respond quickly to replenish or reallocate inventory based on shifting customer demand patterns Strict Inventory Management & Monitoring Practices – Accounting For Each Piece Of InventoryJewellery identification with a unique barcode, which aids tracking and monitoring of each piece of inventory further linked to the central ERP systemRobust system to hedge the gold inventory from fluctuations in gold pricesDaily inventory checks at the close of business at each showroom, monthly inventory weight verifications by regional managers/business heads Strong Board With Independent Chair Well-diversified Board with eminent personalities representing varied areas - retail, marketing, banking, finance, audit, regulatoryThe Board chaired by an Independent Director Top-tier Auditor Deloitte completed 10 years as Statutory Auditor in 2024Walker Chandiok & Co LLP took over from Deloitte with effect from August 2024 Integrated Operations To Allow Inventory Movement Between Showrooms Inventory movement to align jewellery offerings with customer preferences and accommodate variations in seasonal buying patterns
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KALYAN JEWELLERS INDIA LIMITED 25 Board Of Directors: Enriching Kalyan With Their Expertise And InsightBoard of Directors MR. VINOD RAI Chairman & Independent Non-Executive Director•Former Comptroller and Auditor General of India•Awarded Padma Bhushan, India’s 3rd highest civilian award MR. T.S. KALYANARAMANManaging Director •~49 years retail experience with ~32 in the jewellery industry•With Kalyan since inception MR. T.K. SEETHARAMWhole-time Director•~26 years with Kalyan MR. T.K. RAMESHWhole-time Director•~24 years with Kalyan Visionary Promoters: Laying Out Business Strategy MR. SALIL NAIRNon-Executive Director•Former CEO of Shoppers Stop•~27 years of experience in the retail industry Non-Executive Directors: Retail & Capital Market Experience MR. ANISH KUMAR SARAFNon-Executive Director•MD at Warburg Pincus India•More than 20 years of experience in investing and capital market Independent Directors: Industry Experience & Expertise In Key Domains MR. ANIL SADASIVAN NAIRIndependent Director•Former CEO & Managing Partner of Law & Kenneth Saatchi & Saatchi•~21 years of experience in the field of advertising MR. T.S. ANANTHARAMANIndependent Director•Former Chairman of The Catholic Syrian Bank•Several years of experience in banking, teaching management and accounting MS. RADHIKA RAMANIIndependent Director•Currently serves as Global Head of Growth Operations at Dentsu, UK; Former Managing Partner (South) at Motivator (part of GroupM Network)•~25 years of experience in media and communications MR. C. R. RAJAGOPALIndependent Director•Chartered Accountant and Former Partner at Deloitte, Haskins and Sells LLP•~35 years of experience in finance, private equity, M&A and reorganisations
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KALYAN JEWELLERS INDIA LIMITED 26 Professional Management Team Driving Business Growth & ExpansionManagement Team Mr. SANJAY RAGHURAMANChief Executive Officer•Qualified CA and CWA•13+ years with Kalyan, 17 years prior experience in retail, financial services & operations•Previously worked with HDB Financial Services, Wipro and Clix Capital Mr. SANJAY MEHROTTRAHead of Strategy and Corporate Affairs•Masters in Management Studies•7+ years with Kalyan•31+ years experience in Indian capital markets Mr. V. SWAMINATHANChief Financial Officer•Bachelor in Science from University of Madras, CA•8+ years with Kalyan•30+ years experience in finance, corporate planning & control Mr. ABRAHAM GEORGEHead of Treasury and Investor Relations•MBA from ICFAI University and Bachelors in Commerce•8+ years with Kalyan•21+ years of experience in finance and capital markets Mr. ARUN SANKARHead of Technology•Master of Technology (Computer Science) and engineering and a Master of Science (integrated) in Software Engineering•11+ years with Kalyan•~19 years experience in the technology sector Mr. JISHNU R. G.Company Secretary & Compliance Officer•Bachelor of Commerce and Company Secretary•6+ years with Kalyan•~12 years experience in corporate compliance CEO instrumental in driving geographical expansion and evolution into a Pan India business, supported by a strong and experienced team of cross-functional professionals
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03STRATEGIC PRIORITIES
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KALYAN JEWELLERS INDIA LIMITED 28 \ 1993-2003 A Purpose-led Growth Across Different PhasesPHASE I Strengthening Our Roots•Focus on brand building•Focused on building local supplier network and ecosystem 2004-2011PHASE II Growing InSouthern India•Expansion of showroom network across southern states of India•Largely focused on selling plain gold jewellery in South India•Launched “My Kalyan” customer outreach initiative 2012- 2021PHASE III Pan-India Expansion, Professionalisation & Investment•Pan-India, hyperlocal jeweller and concurrent expansion of product mix and diversification of distribution channels•Raised private equity investment from Warburg Pincus•Built a professionally managed team and a diverse board of directors Since IPO and Road AheadPHASE IV Capitalising On The Foundation – Public Listing & Accelerated Expansion•Completed IPO in 2021 to capitalize the company for the next leg of growth and have significantly expanded Revenue & Profits through COVID period and brought on board an Independent Chairman•Announced and implemented a new capital light expansion strategy (via franchised stores) to focus on Free Cash generation, deleveraging and rewarding shareholders via dividends•Expand the distribution network beyond Kalyan Jewellers; 129 Candere showrooms launched in India focused on lightweight lifestyle jewellery; •New regional brands to be launched offering exclusively localised designs; first brand to be launched in FY27 History & Future Roadmap
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KALYAN JEWELLERS INDIA LIMITED 29 Our Strategic Priorities: Balancing Growth And ExpansionLong-term Objectives & PrioritiesLONG-TERMOBJECTIVESPRIORITIES Invest In CRM, Marketing And Analytics To More Effectively Target Consumers And Drive SalesInvest in CRM, campaigns and technologies to analyse and manage customer interactions and related data throughout the customer lifecycle, with goal of creating a long-term relationship with customers, building customer retention and driving sales Leverage “My Kalyan” Network To Deepen Customer Outreach And Strengthen The Distribution Network In Core MarketsExpand “My Kalyan” network in areas where Kalyan is currently underpenetrated relative to the scale of the latent demand opportunity in those particular markets Widen Product Offerings To Further Increase Consumer Reach Continue to increase focus on higher margin studded jewellery and explore opportunities toexpand range of brands / sub-brands to introduce new branded jewellery lines targeted at specific customer niches Leverage Scalable Business Model To Expand Showroom Network And Diversify Distribution ChannelsStrong brand, scalable business model, effective operational processes and proven track record of profitable expansion, positions Kalyan well to capitalise on the market opportunity arising from continued shift in demand in favour of organised jewellery companies. Expansion largely via capital-light franchise store strategyAccelerated expansion of Candere showrooms focused on lightweight lifestyle jewelleyNew regional brands to be launched offering exclusively localised designs; first brand to be launched in FY27
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KALYAN JEWELLERS INDIA LIMITED 30 Reward Shareholders •Use the benefits of capital-light strategy and free cash flow generation in the business to reward shareholders via dividends over time Way ForwardSame Stores Sales Growth Target same stores sales growth of mid to high single digits Return Profile •Capital-efficient franchise store strategy to further accelerate ROCE from current levels (~30.3% based on last 12 months performance)•Selective conversion of existing COCO to FOCO showrooms1 to reduce capital employed in the business•Divestiture of select non-core assets to help lighten the balance sheet; completed sale of movable non-core assets India Expansion •To increase the share of revenue from non-south markets; incremental showrooms predominantly in non-south markets•New showroom openings to be driven largely by capital-light franchise store strategy•Accelerated expansion of Candere showrooms focused on lightweight lifestyle jewelley•New regional brands to be launched offering exclusively localised designs; first brand to be launched in FY27 International Expansion •Calibrated expansion in Middle East on the back of good business traction for last two years•International expansion to be funded largely via capital-light franchise store strategy Notes: 1.COCO (Company Owned Company Operated) showrooms to FOCO (Franchisee Owned Company Operated) showrooms2.Return on Capital Employed (ROCE) calculated as Earnings Before Interest and Tax (EBIT) divided by sum of Average Equity, Average Net Debt (excluding Gold Metal Loan), Average Lease Liabilities; the balance sheet figures for this calculation are based on results published for the quarter ended March 31, 2026, as there is no reviewed balance sheet published for the quarter ended June 30, 2026 Long-term Objectives & Priorities
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04PERFORMANCE REVIEW
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KALYAN JEWELLERS INDIA LIMITED 32 Kalyan Jewellers Has Made Significant Progress Over the Past Few YearsRecap of Performance through COVID Notes:1.Return on Capital Employed (ROCE) calculated as Earnings Before Interest and Tax (EBIT) divided by sum of Average Equity, Average Net Debt (excluding Gold Metal Loan), Average Lease Liabilities2.Return on Equity (ROE) calculated as Profit After Tax (PAT) divided by Average Equity3.Net Debt calculated as (non-current borrowings + current borrowings + metal gold loan) less (Cash and cash equivalents + Bank balances other than cash and cash equivalents)4.Net Debt calculated as (non-current borrowings + current borrowings) less (Cash and cash equivalents + Bank balances other than cash and cash equivalents)5.The figures are based on results published for the quarter ended March 31, 2026, as there is no reviewed balance sheet published for the quarter ended June 30, 2026 Meaningful Progress Across Key Business Metrics …… Supported by Clear Strategic Steps/Direction & Execution Clear Strategic Direction Towards Capital-Efficient Growth, ROCE Accretive Expansion and Shareholder-Friendly MeasuresLaunch of Franchised Store Strategy in 2022•234 FOCO Kalyan showrooms till 30th June 2026 in India; 84 FOCO showrooms openings planned in FY27•Launched first FOCO Candere showroom in FY24; 73 FOCO showrooms till 30th June 2026; FY26 network expansion largely through FOCO showroomsRobust FCF utilised to pay down debt and reward shareholders•40% to 50% of the profits generated to be used for paying down debt, invest in new strategic initiatives and rewarding shareholders•₹1,525 Mn dividend paid out during FY26•Non-GML reduction to the extent of ₹5,640 Mn in India during FY26•Repaid ₹10,073 Mn non-GML loans in India (1st Apr 2023 to 31st March 2026)•FY26 dividend (to be paid during FY27) of ₹2,582 Mn, payout of ~20%•Non-GML debt to be completely paid down in FY27Strong Execution Over Past Several Years•TTM PAT of ₹14,350 Mn vs ₹1,423 Mn in FY20 (47% CAGR over last six years)•Meaningful improvement across ROCE and leverage metrics Scale & Growth Profitability Returns Leverage Leverage(without GML) Revenues – ConsolRevenues – IndiaEBITDA MarginProfit After Tax (PAT)ROCE1 ROE2 Net Debt3 / EBITDANet Debt3 / EquityNet Debt4 / EBITDANet Debt4 / Equity0.8 x(0.05) x FY20FY26TTM₹1,01,009 Mn₹3,57,429 Mn₹78,458 Mn₹3,10,271 Mn 11.7%28.8% 6.7%24.3% 3.8 x1.3 x 1.3 x0.5 x 7.5%7.0%₹1,423 Mn₹13,504 Mn ₹3,90,633 Mn₹3,39,104 Mn6.7%₹14,350 Mn 30.3% 5 25.8% 5 1.2 x 5 0.5 x 5 2.3 x(0.1) x (0.1) x 5 (0.05) x 5
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KALYAN JEWELLERS INDIA LIMITED 33 Franchise Model Ushering Into New Era of Growth With Franchise Model 1st Franchise store at Aurangabad, Maharashtra Q1FY23First showroom launch 30th June 2026234 Kalyan showrooms in India,73 Candere showrooms in India,1 Kalyan showroom in the UK FY27 FOCO Network Expansion:•84 Kalyan showrooms in India (all FOCO); 6 in international markets (mix of COCO & FOCO)•50 Candere showrooms through a mix of COCO & FOCO showrooms•Working with potential franchise partners to convert more showrooms to FOCO in the Middle East during FY27 Objectives:•Focus company’s expansion plans through this significantly more capital efficient and return accretive path•Leverage Kalyan brand and utilize the infrastructure / resources of the franchise owner•Franchise owned company operated stores (FOCO) ensuring robust compliance, monitoring systems and adherence to Kalyan Jewellers’ brand standards•Capex (except south) & Inventory investment incurred by the franchisee; additionally, all showroom related expenses except salary borne by the franchisee
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KALYAN JEWELLERS INDIA LIMITED 34 ParticularsFY 2023FY 2024FY 2025FY 2026FY 2027Total ShowroomNetwork•Kalyan India - 147(15 FOCO showrooms)•Kalyan International - 33(NIL FOCO showrooms)•Candere - 2 (NIL FOCO showrooms) •Kalyan India - 204(76 FOCO showrooms)•Kalyan International - 36 (1 FOCO showroom)•Candere - 13(8 FOCO showrooms) •Kalyan India - 278(152 FOCO showrooms)•Kalyan International - 37(4 FOCO showrooms)•Candere - 73 (37 FOCO showrooms) •Kalyan India - 342 (222 FOCO showrooms)•Kalyan International - 41 (5 FOCO showrooms)•Candere - 124 (70 FOCO showrooms) •Kalyan India – 426(306 FOCO showrooms)•Kalyan International – 47•Candere – 174•New Regional Brand – 5Gross Debt(Standalone)Total Debt: ₹24,152 Mn•GML: ₹10,911 Mn•Non-GML: ₹13,241 Mn Total Debt: ₹21,563 Mn•GML: ₹12,620 Mn•Non-GML: ₹8,944 Mn Total Debt: ₹18,981 Mn•GML: ₹10,173 Mn•Non-GML: ₹8,808 Mn Total Debt: ₹16,001 Mn•GML: ₹12,833 Mn•Non-GML: ₹3,168 Mn Total Debt: ₹13,000 Mn•GML: ₹13,000 Mn•Non-GML: NILProceeds fromsale of non-core AssetsNIL ₹1,103 Mn₹246 MnSecured release of first set of collateral worth ~₹1,800 Mn; process to divest the assets underwayAgreement signed to sell first set of non-core real estate assets worth ₹102 Cr; Additional real estate collateral release worth ₹2,000 Mn expected during FY 2027 which can further be divestedROCE1 17.40%19.10%19.80%28.80%Meaningful improvement to continueROE12.80%15.20%15.90%24.40%Meaningful improvement to continueCredit RatingA+ (Stable)A+ (Stable)Enhanced from A+ (Stable) to A+ (Positive)Enhanced from A+ (Positive) to AA- (Stable)Further enhancement expected Performance Highlights Kalyan’s Asset Light Journey Continues Total Showroom Network•KJ India: 354; (234 FOCO showrooms)•KJ International: 41; (1 FOCO showroom)•Candere: 129 (73 FOCO showrooms) Gross Debt (Standalone)2•Total Debt: ₹16,001 Mn•GML: ₹12,833 Mn•Non GML: ₹3,168 Mn •ROCE1,2: 30.3%•ROE2: 25.8%•Credit Rating: AA- (Stable) Highlights as on 30th June 2026:1. Return on Capital Employed (ROCE) calculated as Earnings Before Interest and Tax (EBIT) divided by sum of Average Equity, Average Net Debt (excluding Gold Metal Loan), Average Lease Liabilities2. The figures are based on results published for the quarter ended March 31, 2026, as there is no reviewed balance sheet published for the quarter ended June 30, 2026
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KALYAN JEWELLERS INDIA LIMITED 35 2,565 3,213 Q1FY26 Q1FY27 4,342 5,000 Q1FY26 Q1FY27 8,364 10,135 Q1FY26 Q1FY27 61,422 85,033 Q1FY26 Q1FY27 287 354 Q1FY26 Q1FY27 India: Q1FY27 Performance SummaryIndia Performance Revenue (₹ Mn) No. of Showrooms Gross Profit (₹ Mn) PAT (₹ Mn) 38% 21% EBITDA (₹ Mn)15% 25% •Added 12 new showrooms during Q1FY27 in India (base quarter, Q1FY26, saw launch of 10 showrooms)•Revenue growth of 38% when compared to Q1FY26 driven majorly by healthy SSSG of 28%; B2C revenue growth of ~34%•New customer additions continue to stay healthy; share of new customers at over 36%•Share of revenue from franchised showrooms at ~57%•Share of recycled gold during the quarter stood at 46% (30% in Q1FY26; 31% in Q4FY26; ) •Gross margin impacted by higher proportion of exchanged gold, promotional offers as part of the exchange campaign and one-off gain in platinum and silver sale during the base quarter (Q1FY26)•~₹41 Cr one-off gain from import duty hike during the quarter 23% Note: Revenue excludes revenue from sale of bullion
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KALYAN JEWELLERS INDIA LIMITED 36 18,579 25,327 Q1FY26 Q1FY27 42,239 58,049 Q1FY26 Q1FY27 30,261 43,154 Q1FY26 Q1FY27 31,162 41,879 Q1FY26 Q1FY27 India: Q1FY27 Performance SummaryIndia Performance Non-South Revenue (₹ Mn)South Revenue (₹ Mn) 34% Studded Revenue (₹ Mn) 36% Gold Revenue (₹ Mn) •Robust revenue growth across markets and categories aided by strong same-store-sales growth (SSSG)•SSSG: South ~30%, Non-South ~27%•Non-south contributed to ~57% of the total revenue•Studded share at 29.7% marginally lower compared to 30.3% YoY 43% 37% Note: Revenue excludes revenue from sale of bullion
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KALYAN JEWELLERS INDIA LIMITED 37 36 38 Q1FY26Q1FY27 10,265 13,201 Q1FY26 Q1FY27 728 899 Q1FY26 Q1FY27 1,437 1,580 Q1FY26 Q1FY27 221 251 Q1FY26 Q1FY27 6% Middle East: Q1FY27 Performance SummaryME Performance No. of Showrooms29% Gross Profit (₹ Mn) EBITDA (₹ Mn) 24% PAT (₹ Mn) Revenue (₹ Mn) •Revenue growth largely led by healthy Same-store-sales-growth (SSSG) of ~25%•Studded share at 16.3% vs. 18.3% YoY•Showroom walk-in back on track from end of April •Discussions underway with potential investors in the region for a larger FOCO partnership 14%10%
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KALYAN JEWELLERS INDIA LIMITED 38 72,685 1,05,889 Q1FY26 Q1FY27 10,081 12,638 Q1FY26 Q1FY27 2,641 3,487 Q1FY26 Q1FY27 5,080 6,325 Q1FY26 Q1FY27 Revenue (₹ Mn) Gross Profit (₹ Mn) PAT (₹ Mn) 46% 25% EBITDA (₹ Mn)25% 32% Consolidated: Q1FY27 Performance SummaryConsolidated Performance
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KALYAN JEWELLERS INDIA LIMITED 39 Historical Financial Performance SummaryConsolidated Performance Revenue (₹ Mn) EBITDA (₹ Mn) & EBITDA Margins (%) PAT (₹ Mn) & PAT Margins (%) Notes:1.FY21 Opex includes ₹900 mn of one-time write-offs, losses relating to lease terminations and provisions for impairment largely relating to the impact of COVID in the Middle East business.2.Return on Capital Employed (ROCE) calculated as Earnings Before Interest and Tax (EBIT) divided by sum of Average Equity, Average Net Debt (excluding Gold Metal Loan), Average Lease Liabilities3.Return on Equity (ROE) calculated as Profit After Tax (PAT) divided by Average Equity4.Adj. Profit After Tax considered here. Adjusted PAT calculated as sum of reported PAT and one-time exceptional write off after adjusting for tax using the formula: (Reported PAT + (Exceptional write off amount) *(1-Tax Rate))5.The figures are based on results published for the quarter ended March 31, 2026, as there is no reviewed balance sheet published for the quarter ended June 30, 2026 •TTM Profit After Tax of ₹14,350 Mn in consolidated business - PAT CAGR of 47% over the last 6 years (FY20)•Significant improvement in the return profile of the business on the back of robust revenue and profitability growth; key levers for further improvement in the return profile•FOCO (Franchisee Owned Company Operated) model of franchised showrooms playing major role in increasing the pace of expansion in India in a more capital efficient return accretive path and provide further fillip to the overall return profile of the business•Discussions underway with potential investors in the middle east region for a larger FOCO partnership 2 3 41 1,08,179 1,40,714 1,85,156 2,50,451 3,57,429 3,90,633 FY22 FY23 FY24 FY25 FY26 TTM 8,145 11,140 12,799 15,172 24,912 26,157 7.5%7.9%6.9%6.1%7.0%6.7% FY22 FY23 FY24 FY25 FY26 TTM 2,240 4,569 5,963 7,142 13,504 14,350 2.1%3.1%3.2%2.9%3.8%3.7% FY22FY23FY24FY25FY26TTM 19.1%19.8%28.8%30.3% 15.2%15.9%24.3%25.8% FY24 FY25 FY26 TTM RoCE (%)RoE (%) 5
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KALYAN JEWELLERS INDIA LIMITED 40 Continued Focus On Strengthening Balance SheetConsolidated Performance 0.60.5 0.5 0.5 0.02 (0.02)(0.05)(0.05)FY24FY25FY26TTM Net Debt to Equity (with GML) Net Debt to Equity (without GML) Net Debt to Equity (Times) Notes: 1.GML: Gold Metal Loan2.Net Debt calculated as (non-current borrowings + current borrowings + metal gold loan) less (Cash and cash equivalents + Bank balances other than cash and cash equivalents)3.Net Debt calculated as (non-current borrowings + current borrowings) less (Cash and cash equivalents + Bank balances other than cash and cash equivalents)4.The figures are based on results published for the quarter ended March 31, 2026, as there is no reviewed balance sheet published for the quarter ended June 30, 2026 2 3 4
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KALYAN JEWELLERS INDIA LIMITED 41 Continued Focus On Strengthening Balance SheetConsolidated / India Performance 19.8%28.8%30.3% 17.4%26.1%27.0% FY25FY26TTM Consolidated India ROCE1 (%) 15.9%24.3%25.8% 15.4%23.6%24.8% FY25FY26TTM Consolidated India ROE2 (%) 2.83.0 3.3 33.43.7 FY25FY26TTM Consolidated India Inventory Turn3 (Times) Notes: 1.Return on Capital Employed (ROCE) calculated as Earnings Before Interest and Tax (EBIT) divided by sum of Average Equity, Average Net Debt (excluding Gold Metal Loan), Average Lease Liabilities2.Return on Equity (ROE) calculated as Profit After Tax (PAT) divided by Average Equity3.Inventory Turn: Revenue from operations divided by average inventory4.The figures are based on results published for the quarter ended March 31, 2026, as there is no reviewed balance sheet published for the quarter ended June 30, 2026 4 4 4
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KALYAN JEWELLERS INDIA LIMITED 42 Continued Focus On Strengthening Balance SheetConsolidated / India Performance 1.51.31.21 0.50.5 FY25FY26TTM Consolidated IndiaNet Debt2 to EBITDA (including GML) (0.1)(0.1)(0.1) 0.2 (0.1)(0.1)FY25FY26TTM Consolidated IndiaNet Debt3 to EBITDA (excluding GML) 0.50.50.50.30.20.2 FY25FY26TTM Consolidated IndiaNet Debt2 to Equity (including GML) (0.02)(0.05)(0.05) 0.10 (0.03)(0.03)FY25FY26TTM Consolidated IndiaNet Debt3 to Equity (excluding GML) Notes: 1.GML: Gold Metal Loan2.Net Debt calculated as (non-current borrowings + current borrowings + metal gold loan) less (Cash and cash equivalents + Bank balances other than cash and cash equivalents)3.Net Debt calculated as (non-current borrowings + current borrowings) less (Cash and cash equivalents + Bank balances other than cash and cash equivalents)4.The figures are based on results published for the quarter ended March 31, 2026, as there is no reviewed balance sheet published for the quarter ended June 30, 2026 4 4 4 4
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KALYAN JEWELLERS INDIA LIMITED 43 Q1FY27 India: Income StatementStandalone India Performance Particulars (₹ Mn) Q1FY27Q1FY26YoYQ4FY26QoQRevenue 90,255 61,422 47%89,943 0%Gross Profit 10,135 8,364 21%11,074 -8%Gross Profit Margin %11.2%13.6% 12.3%Total Opex 5,135 4,023 28%5,032 2%Advertisement & Promotion1,013 962 5%1,035 -2%Other Opex 4,122 3,061 35%3,997 3%EBIDTA 5,000 4,342 15%6,042 -17%EBIDTA Margin %5.5%7.1% 6.7%Depreciation 774 697 11%775 0%EBIT 4,227 3,645 16%5,267 -20%EBIT Margin %4.7%5.9% 5.9%Finance Cost 628 724 -13%834 -25%Other Income 722 521 39%521 39%PBT 4,321 3,443 26%4,953 -13%PBT Margin %4.8%5.6% 5.5%PAT 3,213 2,565 25%3,656 -12%PAT Margin %3.6%4.2% 4.1%
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KALYAN JEWELLERS INDIA LIMITED 44 Q1FY27 ME: Income StatementMiddle East Performance Particulars (₹ Mn) Q1FY27Q1FY26YoYQ4FY26QoQRevenue 13,201 10,265 29%10,736 23%Gross Profit 1,580 1,437 10%1,410 12%Gross Profit Margin %12.0%14.0% 13.1%Total Opex 680 709 -4%623 9%Advertisement & Promotion114 185 -38%159 -28%Other Opex 566 524 8%464 22%EBIDTA 899 728 24%787 14%EBIDTA Margin %6.8%7.1% 7.3%Depreciation 237 204 17%220 8%EBIT 662 524 26%567 17%EBIT Margin %5.0%5.1% 5.3%Finance Cost 392 287 37%412 -5%Other Income 28 29 -4%43 -35%PBT 298 267 12%199 50%PBT Margin %2.3%2.6% 1.9%PAT 251 221 14%213 18%PAT Margin %1.9%2.1% 2.0%
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KALYAN JEWELLERS INDIA LIMITED 45 Q1FY27 Consolidated: Income StatementConsolidated Performance Particulars (₹ Mn) Q1FY27Q1FY26YoYQ4FY26QoQRevenue 1,05,889 72,685 46%1,02,749 3%Gross Profit 12,638 10,081 25%13,219 -4%Gross Profit Margin %11.9%13.9% 12.9%Total Opex 6,313 5,001 26%5,862 8%Advertisement & Promotion1,408 1,282 10%1,327 6%Other Opex 4,905 3,719 32%4,535 8%EBIDTA 6,325 5,080 25%7,357 -14%EBIDTA Margin %6.0%7.0% 7.2%Depreciation 1,150 977 18%1,131 2%EBIT 5,175 4,103 26%6,226 -17%EBIT Margin %4.9%5.6% 6.1%Finance Cost 1,084 1,036 5%1,300 -17%Other Income 557 463 20%462 21%PBT 4,648 3,530 32%5,388 -14%PBT Margin %4.4%4.9% 5.2%PAT 3,487 2,641 32%4,095 -15%PAT Margin %3.3%3.6% 4.0%
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KALYAN JEWELLERS INDIA LIMITED 46 Standalone India Performance Standalone Income StatementParticulars (₹ Mn) TTMFY26FY25Revenue 3,39,104 3,10,271 2,16,386 Gross Profit 41,223 39,453 27,571 Gross Profit Margin %12.2%12.7%12.7%Total Opex 19,322 18,210 14,776 Advertisement & Promotion4,577 4,526 3,955 Other Opex 14,745 13,684 10,821 EBIDTA 21,901 21,242 12,795 EBIDTA Margin % 6.5%6.8%5.9%Depreciation 3,041 2,963 2,461 EBIT 18,860 18,279 10,334 EBIT Margin % 5.6%5.9%4.8%Finance Cost 2,799 2,894 2,497 Other Income 2,556 2,354 1,485 Profit before exceptional items and tax18,617 17,739 9,323 Profit before exceptional items and tax %5.5%5.7%4.3%Exceptional items1 415 415 - PBT 18,202 17,324 9,323 PBT Margin % 5.4%5.6%4.3%PAT 13,500 12,851 6,887 PAT Margin % 4.0%4.1%3.2%Note: 1.One-time exceptional impact recognised in the current period due to changes in employee benefit provisions arising from the NewLabour Codes
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KALYAN JEWELLERS INDIA LIMITED 47 Consolidated Performance Consolidated Income StatementParticulars (₹ Mn) TTMFY26FY25Revenue 3,90,633 3,57,429 2,50,451 Gross Profit 49,600 47,043 32,843 Gross Profit Margin %12.7%13.2%13.1%Total Opex 23,443 22,131 17,671 Advertisement & Promotion5,937 5,811 4,734 Other Opex 17,506 16,320 12,937 EBIDTA 26,157 24,912 15,172 EBIDTA Margin % 6.7%7.0%6.1%Depreciation 4,402 4,229 3,427 EBIT 21,755 20,683 11,745 EBIT Margin % 5.6%5.8%4.7%Finance Cost 4,377 4,329 3,595 Other Income 2,175 2,080 1,446 Profit before exceptional items and tax19,553 18,435 9,596 Profit before exceptional items and tax %5.0%5.2%3.8%Exceptional items1 415 415 - PBT 19,138 18,020 9,596 PBT Margin % 4.9%5.0%3.8%PAT 14,350 13,504 7,142 PAT Margin % 3.7%3.8%2.9%Note: 1.One-time exceptional impact recognised in the current period due to changes in employee benefit provisions arising from the NewLabour Codes
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KALYAN JEWELLERS INDIA LIMITED 48 Standalone India Balance Sheet Standalone Balance SheetParticulars (₹ Mn) As on 31st March 2026 (Audited)As on 31st March 2025 (Audited)Particulars (₹ Mn) As on 31st March 2026 (Audited)As on 31st March 2025 (Audited)Equity and Liabilities AssetsI. Equity I. Non-current Assets(a) Equity Share Capital10,327 10,314 (a) Property, Plant and Equipment12,298 11,187 (b) Other Equity 50,878 37,458 (b) Capital work-in-progress 137 61 Total Equity 61,205 47,773 (c) Right-of-use Assets 8,511 7,331 II. Liabilities (d) Investment Property611 611 1. Non-current Liabilities (e) Intangible Assets7 13 (a) Financial Liabilities (f) Financial Assets(i) Lease Liabilities14,119 12,235 (i) Investments 8,521 8,511 (ii) Other Financial Liabilities324 197 (ii) Loans 7,591 3,381 (b) Other Non-current Liabilities161 109 (iii) Other Financial Assets7,209 6,036 (c) Provisions 643 377 (g) Deferred Tax Assets (net)1,692 987 Total Non-current Liabilities 15,247 12,918 (h) Other non-current Assets1,011 1,078 2. Current Liabilities Total non-current Assets 47,588 39,197 (a) Financial Liabilities II. Current Assets(i) Borrowings 3,168 8,808 (a)Inventories 1,06,872 75,678 (ii) Metal Gold Loan12,833 10,173 (b) Financial Assets(iii) Lease Liabilities2,200 1,789 (i) Trade Receivables7,246 3,313 (iv) Trade Payables (ii) Cash and Cash Equivalents2,030 2,676 - Total Outstanding Dues of Micro and Small Enterprises1,188 5 (iii) Bank Balances Other than (ii) above3,085 3,684 - Total Outstanding Dues of Creditors other than Micro and Small Enterprises29,008 18,681 (iv) Other Financial Assets3,184 1,766 (v) Other Financial Liabilities479 144 (c) Other Current Assets543 778 (b) Other Current Liabilities42,296 25,997 Total Current Assets 1,22,959 87,895 (c) Provisions 834 349 Total Assets (I+II)1,70,547 1,27,092 (d) Current Tax Liabilities (net) 2,088 456 Total Current Liabilities94,094 66,401 Total Liabilities 1,09,341 79,320 Total Equity and Liabilities (I+II)1,70,547 1,27,092
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KALYAN JEWELLERS INDIA LIMITED 49 Particulars (₹ Mn) As on 31st March 2026 (Audited)As on 31st March 2025 (Audited)Particulars (₹ Mn) As on 31st March 2026 (Audited)As on 31st March 2025 (Audited)Equity and Liabilities AssetsI. Equity I. Non-current Assets(a) Equity Share Capital10,327 10,314 (a) Property, Plant and Equipment14,979 13,056 (b) Other Equity 52,76037,721 (b) Capital work-in-progress 177 77 Total Equity 63,087 48,036 (c) Right-of-use Assets 17,461 14,723 II. Liabilities (d) Investment Property611 611 1. Non-current Liabilities (e) Goodwill on Consolidation51 51 (a) Financial Liabilities (f) Other Intangible Assets13 21 (i) Lease Liabilities17,111 14,308 (g) Financial Assets(ii) Other Financial Liabilities324 199 (i) Investments 55 53 (b) Other Non-current Liabilities161 109 (ii) Other financial Assets7,449 6,250 (c) Provisions 806 501 (h) Deferred Tax Assets (net)1,938 1,125 Total Non-current Liabilities 18,402 15,117 (i) Non-current Tax Assets (net)9 3 2. Current Liabilities (j) Other non-current Assets1,116 1,296 (a) Financial Liabilities Total non-current Assets 43,859 37,266 (i) Borrowings 5,237 9,497 II. Current Assets(ii) Metal Gold Loan35,878 23,436 (a) Inventories 1,41,746 96,811 (iii) Lease Liabilities2,948 2,352 (b) Financial Assets(iv) Trade Payables (i) Trade Receivables8,665 3,999 - Total Outstanding Dues of Micro and Small Enterprises1,188 5 (ii) Cash and Cash Equivalents3,066 3,703 - Total Outstanding Dues of Creditors other than Micro and Small Enterprises32,409 23,498 (iii) Bank Balances Other Than (ii) Above5,543 6,607 (v) Other Financial Liabilities467 135 (iv) Other Financial Assets2,794 1,702 (b) Other Current Liabilities44,458 28,276 (c) Other Current Assets1,493 1,170 (c) Provisions 836 356 Total Current Assets1,63,307 1,13,993 (d) Current Tax Liabilities (net) 2,257 551 Total Assets (I+II)2,07,166 1,51,259 Total Current Liabilities1,25,677 88,107 Total Liabilities 1,44,079 1,03,224 Total Equity and Liabilities (I+II)2,07,166 1,51,259 Consolidated Balance Sheet Consolidated Balance Sheet
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CIN: L36911KL2009PLC024641 Tel :+91 487 24 37 333 Fax :+91 487 24 37 334Email:investor.relations@kalyanjewellers.netWebsite:www.kalyanjewellers.net CIN: U74140MH2010PTC204285Mr. Rahul Agarwal / Mr. Mandar Chavanrahul.agarwal@sgapl.net / mandar.chavan@sgapl.net +91 98214 38864 / +91 96993 82195www.sgapl.net For further information, please contact