Kalyan Jewellers (KALYANKJIL)

FairStock Score: 69/100 — STEADY

Score breakdown: P/E: 0/3 · ROCE: 1/2 · Growth: 2/2 · Dividend: 0/1

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

As a Buffett/Graham investor, I ask whether Kalyan is a wonderful business at a fair price. The quality signals are promising: sales growth is 46.87%, profit growth is 25.28%, and the 5-year revenue CAGR is 19.91%. The latest quarter showed sales of ₹10,343 Cr and net profit of ₹416 Cr. ROE is 23.49%, ROCE is 15.03%, and free cash flow is ₹1,032 Cr. The Piotroski F-Score is 8/9, and Altman Z-Score is 4.55, so financial health looks decent, helped by promoter holding of 62.75%. But Debt/Equity is 0.97, and ROCE below ROE hints leverage is doing part of the work. A moat is not obvious from these numbers; a 15.03% ROCE is respectable but not extraordinary. Valuation is the real hurdle. At ₹608.25, market cap is ₹62,817 Cr, P/E is 43.85, P/B is 9.95, and book value is ₹61.16. Graham Number is ₹107.05, meaning margin of safety is -283.08%. DCF intrinsic value is ₹535.45, below the market price. EV/EBITDA is 170.12, while PEG is 0.77, so growth partly justifies the P/E. Dividend yield is only 0.25%. FairStock Score is 69/100, steady. The stock is near its 52-week high of ₹649 versus a low of ₹327.15. I would call it a fast grower, not a Graham bargain. I would wait for a wider margin of safety or clearer evidence that ROCE, cash flow, and debt can support the premium.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data from BSE/NSE filings. AI analysis is for educational purposes only — not investment advice. Scoring methodology · Disclaimer