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Kalyan Jewellers – Perfecting Towards Stable Performance: Centrum Broking


BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

We recently interacted with various business teams of Kalyan Jewellers India Ltd. to assess fundamental drivers for growth.

We reckon, Kalyan has inherent advantage to its business model – hyperlocal strategy, generating strong enquiries given its solid understanding on local taste and demand for designs.

Further our interaction with teams running, hallmarking center, wholesale manufacturer and ‘My Kalyan’ displayed confidence on generating strong consumer demand working closely with wedding eco-system (~20% of revenues).

Management alluded resilient business momentum and improving same stores sales growth driven by footfalls across geographies, yet it remains upbeat on doubling store count in three years in non-south markets driven by own stores and franchise owned company operated stores (50-60) improving its studded jewelry ratio.

Click on the attachment to read the full report:

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This report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime.

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