Kalyan Jewellers moves up on witnessing positive momentum in footfalls, revenue in Q3 FY23
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Kalyan Jewellers is currently trading at Rs. 124.65, up by 4.25 points or 3.53% from its previous closing of Rs. 120.40 on the BSE.
The scrip opened at Rs. 124.45 and has touched a high and low of Rs. 127.60 and Rs. 123.65 respectively. So far 290109 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 134.00 on 29-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. 127.75 and Rs. 118.35 respectively. The current market cap of the company is Rs. 12880.81 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 India has witnessed positive momentum in footfalls and revenue across all the markets during the recently concluded quarter (Q3 FY2023), majorly driven by strong festive demand. The company recorded consolidated revenue growth of approximately 13% in Q3 FY2023 as compared to the same period in the previous financial year, and approximately 35% for YTD (nine months) FY2023 as compared to the same period in the previous financial year.
The company witnessed revenue growth of around 12% for its India operations during the recently concluded quarter as compared to the same period in the previous year despite a strong base with Q3 of the previous financial year being the first normalized quarter post the COVID-related market dislocation. While momentum in footfall was broad-based across geographies, non-south markets recorded higher revenue growth largely due to the greater number of showrooms launched in that region over the last twelve months.
Kalyan Jewellers India designs and manufactures gold, diamonds, stones, and other precious metal jewelry products. The company serves customers worldwide.
