Kalyan Jewellers surges on planning to expand retail footprint by over 30% in CY23

Kalyan Jewellers India is currently trading at Rs. 110.90, up by 3.05 points or 2.83% from its previous closing of Rs. 107.85 on the BSE.

vinod rai is chairman of kalyan jewellers
Kalyan Jewellers

The scrip opened at Rs. 108.15 and has touched a high and low of Rs. 111.35 and Rs. 108.15 respectively. So far 207508 shares were traded on the counter.

The BSE group ‘A’ stock of face value Rs. 10 has touched a 52 week high of Rs. 116.35 on 05-Dec-2022 and a 52 week low of Rs. 55.20 on 11-May-2022.

Last one week high and low of the scrip stood at Rs. 116.35 and Rs. 107.25 respectively. The current market cap of the company is Rs. 11397.54 crore.

The promoters holding in the company stood at 60.54%, while Institutions and Non-Institutions held 5.33% and 34.13% respectively.

Kalyan Jewellers is planning to expand its retail footprint by over 30% through calendar year 2023 (CY23). As part of its strategic expansion plans, the company will look to target launching 52 showrooms over the next 12 months.

CY23 expansion will mainly focus on the non-South region, which currently contributes 35% to the India business. This approach is in line with Kalyan Jewellers’ Vision 2025, which targeted revenue contribution from non-South markets of 50%.

Kalyan Jewellers is witnessing positive demand momentum and buoyant customer sentiments in the Middle Eastern business, with the region contributing approximately 17% to its consolidated revenue.

Growth has been consistent over the past three quarters, and the company is looking at initiating a pilot franchise model in the region, post which, a robust expansion plan will be laid out for its international operations.

Kalyan Jewellers India designs and manufactures gold, diamonds, stones, and other precious metal jewelry products. The company serves customers worldwide.

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