About the Company

 

Kalyan Jewellers India Limited is a leading jewellery retail chain headquartered in Thrissur, Kerala. The company was formed in 2009 through conversion of erstwhile business entities and became a public limited company on June 15, 2016; its equity shares have been listed on the National Stock Exchange and the Bombay Stock Exchange since 2021 . The Group is engaged in the manufacture and retailing of primarily gold and precious stone–studded jewellery, operating through a wide network of showrooms in India and overseas .

 

Kalyan has a significant international footprint through subsidiaries across the United States, United Kingdom, United Arab Emirates, Kuwait, Qatar and Oman, alongside its India showroom network . As of March 31, 2025, the global network comprised 388 showrooms: 278 under the Kalyan brand, 73 under Candere, 36 in the Middle East and 1 in the United States . The Group comprises 12 subsidiaries (including step-down subsidiaries) .

 

Key milestones include conversion to a public company in 2016, stock exchange listings in 2021, and entry into the United States during FY 2024–25. The company also continued to scale its FOCO (Franchisee-Owned, Company-Operated) model across India during the year .

 

Products and Services

– Manufacture and retail of jewellery, primarily gold and precious stone–studded pieces .

– Retail showrooms across India, with international operations managed via subsidiaries in the USA, UK, UAE, Kuwait, Qatar and Oman .

 

Key Management

 

– T. S. Kalyanaraman – Managing Director

– T. K. Seetharam – Whole-time Director

– T. K. Ramesh – Whole-time Director

– Sanjay Raghuraman – Chief Executive Officer

– Swaminathan V. – Chief Financial Officer

– Jishnu R. G. – Company Secretary & Compliance Officer

 

Latest Updates

 

– Network expansion: As of March 31, 2025, Kalyan reported 388 showrooms worldwide, including 278 Kalyan showrooms and 73 Candere stores; the company also commenced operations in the United States during the year .

– FOCO model scaling: The FOCO format represented over half of the domestic network and contributed approximately 36 Per cent of India showroom revenue in FY 2024–25 .

– Balance sheet: The company reported deleveraging of India-based debt by about Rs 2,580 million during FY 2024–25, following a similar reduction in the previous year .

– Credit rating: The company’s credit rating was enhanced from A+ (Positive) to AA– (Stable) during the year .

– Board and governance developments: Anish Kumar Saraf resigned as Non-Executive Nominee Director following a shareholder’s divestment and was appointed Non-Executive Director with effect from January 31, 2025; the Board also approved the re-appointment of Mr. Anil S. Nair as a Non-Executive Independent Director for a second five-year term, and shareholders approved the appointment of Mr. Salil Nair as a Non-Executive, Non-Independent Director via postal ballot . The company reported no qualifications in the statutory auditors’ report for the year ended March 31, 2025 .