Elevated gold metal loan interest rates
GML interest rates have risen to 5-5.5% from 3-3.5%, impacting finance costs. Normalization is uncertain.
KALYANKJIL / Q4-FY25 / risks
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Kalyan Jewellers · Material risks, their source context, and severity in the latest available quarter.
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Material risks this quarter
medium
Gold price volatility impacting demand
Sharp gold price increases may cause consumers to pause purchases, though management sees robust demand currently.
Candere turnaround risk
Candere posted a loss of INR 12 crore in Q4 vs INR 0.7 crore loss last year. Profitability target may be delayed if store ramp-up falters.
Franchisee model execution
Aggressive store expansion (170 showrooms) relies on franchisee model; any disruption could impact growth.