Kaylan Adds New Stores as Shares Plunge
January 16, 25
(IDEX Online) - Kalyan Jewellers is seeking to calm investors' nerves after its stock fell by over a third in the first two weeks to 2025.
The India-based company, with over 300 stores, insisted its business operations were sound and blamed market factors.
It reported a "very encouraging" 37 per cent revenue growth for Q2 FY2025.
Analysts suggest Kalyan stock may have been over-valued and that investors are profit-booking - aiming to lock in gains after shares in the company hit an all-time high on 2 January.
There are also concerns that the company's operating and net profit margins are lower than those of its rivals.
In spite of all that, Kalyan is pressing ahead with major expansion plans.
It said in its latest quarterly update that it had opened 51 new stores during the current financial year and was planning a further 170 or more.
Pic courtesy Kaylan Jewellers.