Kalyan Jewellers Share Price Target 2025 – Will the Rally Continue?

The jewellery sector in India has been shining bright, and Kalyan Jewellers has been one of the key players leading this growth story. Over the last year, the stock has delivered impressive returns, catching the attention of both retail and institutional investors. But the big question remains: what is the realistic share price target for 2025?

In this article, we’ll break down the current market position, analyst forecasts, and the growth opportunities and risks that could shape the future of Kalyan Jewellers’ stock. The goal is to give you a clear picture of where the company might be headed and whether the rally still has legs.

Current Market Snapshot

Here’s where things stand today with Kalyan Jewellers:

The valuation looks premium compared to peers, but the brand’s growth and expansion strategy seem to justify investor interest.

Analyst Price Targets for 2025

Brokerage houses and stock market platforms have shared varied projections. Let’s look at the range:

• TradingView: Base target ~₹662; bullish case up to ₹770

• Investing.com Consensus: ~₹678.75

• Trendlyne Reports: Average ~₹696

• TipRanks: Around ₹685 with a “Moderate Buy” rating

• JM Financial: Target of ₹700 with a strong “Buy” call

The consensus range sits between ₹650 and ₹700 for 2025, implying a potential upside of 35–45% from current levels if growth momentum continues.

Key Growth Drivers

Expanding Retail Network

Kalyan Jewellers has been rapidly opening new showrooms across Tier-2 and Tier-3 cities. This wider reach boosts customer trust and accelerates sales.

Rising Share of Organized Jewellery

India’s jewellery market is gradually shifting towards branded players. Kalyan, along with Titan, is capturing a bigger slice of this transition.

Strong Financial Results

In recent quarters, the company has posted 30–35% YoY growth in both revenue and profit, showing robust demand and strong operational execution.

Gold Demand Support

Indian weddings and festivals keep fuelling gold purchases. With gold prices staying firm, jewellery retail continues to see healthy traction.

Risks to Consider

While the outlook looks strong, some risks remain:

• High Valuation: At 60x P/E, expectations are already high.

• Gold Price Volatility: Sudden corrections can hurt margins.

• Competition: Titan and regional players remain strong rivals.

• Macro Factors: Any slowdown in discretionary spending could impact demand.

Kalyan Jewellers Share Price Target 2025

Taking into account analyst forecasts, business fundamentals, and sector trends, here’s a potential range:

• Base Case: ₹650 – ₹700

• Bullish Scenario: ₹750 – ₹770 if expansion and demand remain strong

• Bearish Scenario: ₹580 – ₹600 if gold prices fall sharply or consumer demand slows

This makes ₹650–₹700 the most reasonable Kalyan Jewellers share price target for 2025.

Kalyan Jewellers Share Price Target 2026

By 2026, the company is expected to benefit from a larger organized jewellery market share:

• Estimated Range: ₹800–₹900

• Bullish Scenario: ₹950–₹1,000

The growth would be fueled by Tier-2 & Tier-3 market penetration and increasing consumer preference for branded jewellery.

Kalyan Jewellers Share Price Target 2027

If revenue growth remains above 20% CAGR, the stock could see further re-rating:

• Base Case: ₹1,050–₹1,200

• Bullish Case: ₹1,250+

However, much will depend on how gold prices and competition from Titan and Senco Gold play out.

Kalyan Jewellers Share Price Target 2028

Expansion into international markets and brand collaborations could add fresh revenue streams:

• Target Range: ₹1,300–₹1,450

• Bullish Case: ₹1,500+

By this stage, the company’s ability to manage margins despite rising costs will be crucial.

Kalyan Jewellers Share Price Target 2029

By 2029, the jewellery retail industry is projected to consolidate further, favoring strong brands:

• Base Case: ₹1,550–₹1,700

• Bullish Case: ₹1,800+

Sustained profitability and higher dividends could attract even more investors.

Kalyan Jewellers Share Price Target 2030

Looking at the big picture, if the company executes well, Kalyan Jewellers could emerge as a global jewellery giant by 2030:

• Base Case: ₹1,850–₹2,000

• Bullish Case: ₹2,200+

• Bearish Case: ₹1,600 (if macroeconomic challenges hit demand)

This long-term upside reflects India’s growing middle class, rising disposable incomes, and cultural preference for gold and diamond jewellery.

Key Growth Drivers

1. Expansion in Smaller Cities: Huge untapped demand in Tier-2 & Tier-3 towns.

2. Brand Trust: Celebrity endorsements and strong family brand appeal.

3. Shift to Organized Market: Share rising from 20% in 2019 to 38%+ now.

4. Digital & Omni-channel Growth: Online jewellery sales are expected to grow rapidly.

Also read:-

• Experts Reveal Glottis Ltd IPO Price Target for 2025–2030

Major Risks

• Volatility in gold prices

• Intense competition from Titan and regional brands

• High valuation compared to peers

• Dependence on wedding and festive demand cycles

Conclusion

Kalyan Jewellers is well-positioned to benefit from the rise of organized jewellery retail in India. Its strong financials, aggressive expansion, and growing customer trust make it a promising stock. However, investors should weigh the risks of valuation and gold price volatility before entering at current levels.

If you’re a long-term investor looking for exposure to India’s luxury and lifestyle consumption story, Kalyan Jewellers could still be a shining bet for 2025.