Kalyan Jewelers India on Monday reported a rise of 30 per cent year-on-year (YoY) in its fourth quarter’s revenue at Rs 14,071 crore, against Rs 10,818 crore in the previous year in the same quarter.
The combined PAT was Rs 432 crore for FY23 which is a one-time exceptional pre-tax write-off of ~33 crore relating to the divestment of certain non-core assets. When compared to its previous financial year, which is nearly doubling its PAT i.e, Rs 457 crore.
This consolidated revenue for Q4FY23 was Rs 3,382 crore as against Rs 2,857 crore in the corresponding quarter of the previous year, recording a growth of 18 per cent YoY. The company recorded Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) of Rs 257 crore during Q4 FY23 compared to Rs 218 crore in the same quarter of the previous year, a growth of 18 per cent YoY.
The report shows the Consolidated Adjusted PAT for the quarter was Rs 95 crore, as against Rs 72 crore for the same period in the previous financial year, growth in excess of 30 er cent. The recorded standalone revenue for the company (India) in Q4 FY23, was Rs 2,805 crore, as against Rs. 2,399 crore in Q4 of the previous financial year, reporting a growth of 17 per cent.
According to the results, India’s operations recorded an EBITDA of Rs 217 crore for the quarter, compared to Rs.188 crore in the same quarter of the previous year, a growth of 15 per cent. Adjusted PAT (INDIA) for the quarter was Rs 91 crore compared to a PAT of Rs 70 crore in the corresponding quarter of the previous year, providing growth of 30 per cent.
As per the reports, total revenue from the Middle East operations during Q4 FY23 was Rs 549 crore as against Rs 425 crore in Q4 of the previous financial year, providing a growth of 29 per cent.
The Middle East operations recorded EBITDA of Rs 42 crore for the quarter compared to Rs 33 crore in the same quarter of the previous year, a growth of 27 per cent. PAT recorded for the quarter was at Rs 5.6 crore compared to a PAT of Rs 4.3 crore in the corresponding quarter of the previous year, a growth of 30 per cent. The Middle East region contributed 16 per cent to the overall consolidated revenue of the company.
The e-commerce division, Candere, recorded a revenue of Rs. 32 crore for the quarter versus Rs. 39 crore in the corresponding quarter of the previous year.
The quarter recorded a loss of Rs. 1.9 crore as against a loss of Rs 2.7 crore for the corresponding quarter of the previous year.
“We completed an excellent year and have announced our maiden dividend to reward our shareholders. With a strong Akshaya Tritiya, we have had a fantastic start to the current financial year as well. We are also witnessing encouraging momentum in consumer demand especially around wedding purchases. We are upbeat about the season and have fully geared up the system to ensure that we have yet another memorable quarter,” said Ramesh Kalyanaraman, Executive Director, Kalyan Jewellers India.