Kalyan Jewellers India Limited DCF Valuation
KALYANKJIL · Consumer Durables · Current price ₹558
Kalyan Jewellers India Limited cash-flow valuation
Our engine did not use a discounted-cash-flow model for Kalyan Jewellers India Limited. It routes each business to the methods that suit it, and a DCF is a poor lens where cash-flow forecasts are fragile or the business is capital-structure driven. The methods it did use, and why, are set out below. Our published estimate is ₹567.
Try your own assumptions
Prefer to build the discounted cash flow yourself? The DCF calculator below opens pre-filled with Kalyan Jewellers India Limited's reported free cash flow, net debt and share count, so you can set your own growth and discount rate.
How we got this fair value
Every number below is part of the same estimate for Kalyan Jewellers India Limited. Nothing here is a target price or a forecast of where the share price will go.
Workable, with real gaps. Weigh it alongside your own view rather than on its own.
Estimate range ₹417 – ₹624
Why this method for this business
Kalyan Jewellers is an asset-light, branded consumer franchise with durable demand and a strong moat. Relative P/E and PEG are the most appropriate models for valuing such a business, as they reflect earnings power and growth-adjusted multiples.
The models behind the number
Each method is weighted by how well its inputs held up for this company.
- dcf: Not suitable for a consumer discretionary business with high growth and uncertain cash flows
- peg: Used as a complementary model to capture growth-adjusted valuation
What was missing
- Lack of detailed information on capital allocation and long-term growth assumptions
What drives it
17 inputs, grouped by how strong each claim is
- Sector-median P/E
- 24.24×
- Peers used
- 8
- EPS (TTM)
- 13.9 ₹/share
- Own-history median P/E
- 28.74×
- Earnings growth
- 46.2% CAGR
peer-median
peer-median
computed
reconstructed (one feature, dampened — not a cap)
computed
- Term: quality
- -0.5%
- Term: growth
- +40.0%
- Term: capital_allocation
- +14.2%
- Term: financial_strength
- +6.5%
- Term: history
- +5.6%
- Term: sector_rerating
- +0.0%
- Term: rate_regime
- +1.2%
- Term: risk
- +0.0%
quality 54/100 (about average) → neutral
durable ~23% CAGR (ROCE 12% > hurdle) → premium
capital allocation: rising ROCE funded by strong FCF → premium
financial strength: low leverage (D/E 0.5) → mild premium
history: market paid +19% vs sector, dampened ×0.3 (one feature, not the anchor)
sector re-rating: no sector-norm history → not used
rates: risk-free 6.9% below ~7.1% normal → higher multiple
risk: no analyst-dispersion signal available → neutral (lowers confidence, not PE)
- Premium vs sector
- +80.9%
- Fair-multiple confidence
- 87%
- Fair P/E
- 43.85×
- Growth-implied P/E
- 30×
fundamentals + macro (not capped at own history)
data completeness + term agreement
sector median × ∏(1+term) — Dynamic Fair Multiple
min(growth, 30)
Who computed this
A language model (qwen3:8b) selects the valuation method and the judgement inputs for Kalyan Jewellers India Limited: which models suit the business, the moat, the growth and margin assumptions. It does not produce the number. The fair value itself is computed in Python by a deterministic engine (version 2026.08.1) from those inputs, so the same inputs always give the same result and every figure above can be traced to a source.
Estimated 14 Sept 2026. Re-run as new financials and news arrive.
How we value stocks
We estimate what a business is worth from its own economics: cash flows, returns on capital, and a multiple justified by its quality, rather than from where the share price has been. A fair value estimate is a view, not a verdict, and it is only as good as the inputs listed above.
Read the full fair-value methodologyMore on Kalyan Jewellers India Limited
DocStoX estimates are computed from reported financials, for informational purposes only, not investment advice. Consult a SEBI-registered advisor before investing.