Kalyan Jewellers India Limited

rs,

dra (E), Mumbai 400 051 Symbol: KALYANKJIL Corporate Relationship Dept. Phiroze Jeejeebhoy Towers, Dalal Street Mumbai 400001 Maharashtra, India Scrip Code: 543278 Dear Sir/Madam, Sub: Investo

rs 2014

Mr. Ramesh Kalyanaraman joined Mr. T. S Kalyanaraman right from the initial days of Kalyan Jewellers 2014: Raised private equity from Warburg Pincus 2021: Listed Kalyan on NSE & BSE via an IPO 2025: As on

₹2,50,451

36 Kalyan showrooms (4 FOCO) in the Middle East and 1 Kalyan showroom in the USA. Revenues of ₹2,50,451 Mn and Profit After Tax of ₹7,142 Mn in FY25 Note: 1 FOCO - Franchisee Owned Company Operated K

₹7,142

Middle East and 1 Kalyan showroom in the USA. Revenues of ₹2,50,451 Mn and Profit After Tax of ₹7,142 Mn in FY25 Note: 1 FOCO - Franchisee Owned Company Operated K A L Y A N J E W E L L E R S I N D I

rs 6

fferings Diversified range of product offerings and sub brands targeted at a diverse set of customers 6 7 8 9 Robust and Effective Internal Control Processes Information technology and operations manag

60%

6 68 32 60 40 2000 2007 2020 2025 Wedding Jewellery Dominates The Industry Wedding wear 60% 30% Daily wear Fashion wear 10% Source: Technopak 2nd Largest gold market in the world 3rd

30%

68 32 60 40 2000 2007 2020 2025 Wedding Jewellery Dominates The Industry Wedding wear 60% 30% Daily wear Fashion wear 10% Source: Technopak 2nd Largest gold market in the world 3rd High

10%

2020 2025 Wedding Jewellery Dominates The Industry Wedding wear 60% 30% Daily wear Fashion wear 10% Source: Technopak 2nd Largest gold market in the world 3rd Highest component of retail con

40%

nd And Ownership Is Higher In Rural India And Rises With Income Levels Urban India Rural India 40% 60% South Constitutes Largest Pie In The Indian Jewellery Market 70% Share of gold jewellery

70%

Urban India Rural India 40% 60% South Constitutes Largest Pie In The Indian Jewellery Market 70% Share of gold jewellery out of the total gold demand No Inventory obsolescence risk given re

20%

mand No Inventory obsolescence risk given recyclability of jewellery North East South West 20% 15% 40% 25% K A L Y A N J E W E L L E R S I N D I A L I M I T E D 11 Key Market Trends & Charact

15%

No Inventory obsolescence risk given recyclability of jewellery North East South West 20% 15% 40% 25% K A L Y A N J E W E L L E R S I N D I A L I M I T E D 11 Key Market Trends & Characteris

“Net Debt calculated as (non-current borrowings + current borrowings) less (Cash and cash equivalents + Bank balances other than cash and cash equivalents) K A L Y A N J E W E L L E R S I N D I A L I M I T E D 31 Franchise Model Ushering Into New Era of Growth With Franchise Model 1st Franchise store at Aurangabad, Maharashtra First showroom launch Q1FY23 292+ showrooms FY26 End Now 152 Kalyan showrooms in India, 37 Candere showrooms in India, 4 Kalyan showrooms in Middle East”

“Adjusted PAT calculated as sum of reported PAT and one-time exceptional write off after adjusting for tax using the formula: (Reported PAT + (Exceptional write off amount) *(1-Tax Rate)) K A L Y A N J E W E L L E R S I N D I A L I M I T E D 37 Consolidated Performance Continued Focus On Strengthening Balance Sheet Net Debt to Equity (x) Net Debt to Equity (with GML) 2 Net Debt to Equity (without GML) 3 1.3 0.8 0.7 0.6 0.5 0.2 0.02 -0.02 FY20 FY23 FY24 FY25”

“Net Debt calculated as (non-current borrowings + current borrowings) less (Cash and cash equivalents + Bank balances other than cash and cash equivalents) K A L Y A N J E W E L L E R S I N D I A L I M I T E D 38 Consolidated / India Performance Continued Focus On Strengthening Balance Sheet ROCE1 (%) ROE2 (%) Inventory Turn3 (x) Consolidated India Consolidated India Consolidated India 19.1% 19.8% 16.7% 17.4% 15.2% 14.1% 15.9% 15.4% 2.4 2.5 3 2.8 FY24 FY25 FY24 FY25 FY24 FY25”

Notes

4

Note

2

Retail experience

1

Increasing brand consciousness

1

After sales service

1

Safety and security

1

Demonetization

1

GST

1

Mandatory PAN

1

Rural policy push

1

Safety and security

Shopping experience in spacious, hygienic surrounding; service by well- trained store personnel; robust systems

Hallmarking of gold jewellery

Compulsory from 2021 Source: Technopak K A L Y A N J E W E L L E R S I N D I A L I M I T E D 12 Established Brand A Brand Built On Decades Of Trust And Transparency

PIONEERS IN THE INDIAN JEWELLERY RETAILING SPACE IN

Institutionalising Highest Quality Standards Introducing Highest Degree Of Pricing Transparency For Customers Customer Education And Awareness BIS Hallmarking Of Gold Jewellery Even before regulatory mandate Price Transparency Price tags detailing components aid price transparency before customers Product Certification Guarantee of purity, lifetime maintenance, exchange and buy back Product Quality Karatmeters to verify purity of gold jewellery Transparency In Gold Exchange Transparent exchange process; valuation and verification of purity in front of the customer After-sales Service & Staff Training Staff training to drive customer satisfaction and win repeat business K A L Y A N J E W E L L E R S I N D I A L I M I T E D 13 Presence A True Pan-India Player With Expansive Geographical Presence Jammu & Kashmir Chandigarh • 1 • 1 • 1 • 1 • 9• 3 Punjab Rajasthan • 8• 3 Haryana • 12 • 2 Madhya Pradesh • 6 • 2 Gujarat • 11• 5 Maharashtra • 24 • 9 Pan-India Presence Karnataka • 23 • 6 Kerala

Grassroots Network

Facilitator of the neighborhood jeweller proposition in India • Grassroots outreach focused on marketing and customer engagement across urban, semi-urban and rural areas • Significant proportion of gold jewellery demand originates from rural, semi-urban markets where penetration of organised jewellery retail is low • “My Kalyan” centres provide marketing tool to address latent demand in some of these markets ACTIVITIES AND STRATEGIES IMPLEMENTED TO PROMOTE KALYAN BRAND Dedicated “My Kalyan” personnel for door-to-door and direct marketing efforts among local communities Showcase product catalogues Drive traffic to showrooms Purchase advance schemes enrollment Enrich customer database Relationship-building with players in wedding ecosystem 1,037 ‘My Kalyan“ centres 10 mn Endeavored customer connect each year ~19% Contribution to revenue from operations in India 3,926 Employees ~27% Of enrolment to purchase advance schemes in India K A L Y A N J E W E L L E R S I N D I A L I M I T E D 18

Independent Directors

Industry Experience & Expertise In Key Domains Mr. Salil Nair Non-Executive Director • Former CEO of Shoppers Stop • ~27 years of experience in the retail industry Mr. Anish Kumar Saraf Non-Executive Director • MD at Warburg Pincus India • More than 20 years of experience in investing and capital market Ms. Kishori Jayendra Udeshi Independent Director • First woman Deputy Governor of RBI • First Director of RBI to be nominated on Board of State Bank of India Mr. Agnihotra Dakshina Murty Chavali Independent Director • Former Executive Director of Indian Overseas Bank and former Nominee Director of Bank of Baroda amongst others • ~31 years of experience in the banking sector Mr. T.S. Anantharaman Independent Director • Former Chairman of The Catholic Syrian Bank • Several years of experience in banking, teaching management and accounting Mr. Anil Sadasivan Nair Independent Director • Former CEO & Managing Partner of Law & Kenneth Saatchi & Saatchi • ~21 years of experience in the field o

Note

1. COCO (Company Owned Company Operated) showrooms to FOCO (Franchisee Owned Company Operated) showrooms 2. Return on Capital Employed (ROCE) calculated as Earnings Before Interest and Tax (EBIT) divided by sum of Average Equity, Average Net Debt (excluding Gold Metal Loan), Average Lease Liabilities K A L Y A N J E W E L L E R S I N D I A L I M I T E D 29 04 P E R F O R M A N C E R E V I E W Recap of Performance through COVID Kalyan Jewellers Has Made Significant Progress Over the Past Few Years Meaningful Progress Across Key Business Metrics … … Supported by Clear Strategic Steps/Direction & Execution FY20 FY24 FY25 Clear Strategic Direction Towards Capital-Efficient Growth, ROCE Accretive Expansion and Shareholder-Friendly Measures Scale & Growth Profitability Revenues – Consol ₹ 1,01,009 Mn ₹ 1,85,156 Mn Revenues – India ₹ 78,458 Mn ₹ 1,57,582 Mn ₹ 2,50,451 Mn ₹ 2,16,386 Mn EBITDA Margin 7.5% 6.9% 6.1% Profit After Tax (PAT) ₹ 1,423 Mn ₹ 5,963 Mn ₹ 7,142 Mn Returns ROCE1 ROE2 Lever