The BSE saw a 9.4% decline in Kalyan Jewellers India shares on Friday, bringing them down to a day’s low of ₹534.95.
Although the company’s revenue increased by a healthy 31% year over year, its Indian business’s gross margin decreased by 60 basis points to 13.6% from the previous year. This outcome was driven principally by the expansion of the company’s franchise network.
Brokerage Outlook: A ₹700 Target
Brokerage companies like Citi and Motilal Oswal, on the other hand, are upbeat and believe that the stock price might reach ₹700.
For the fiscal years 2026–2028, Motilal Oswal said,
“We are predicting a revenue/EBITDA/PAT Compound Annual Growth Rate (CAGR) of 21%/17%/21%. With a target price of ₹700, we are sticking to our ‘Buy’ recommendation. They also confirmed the stability of forward-looking earnings per share (EPS) projections for the FY2026-2027 period.”
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