Kalyan Jewellers India Limited

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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 2026: As on

₹3,57,429

owrooms (4 FOCO) in the Middle East, 2 Kalyan showroom in the USA, 1 FOCO in the UK Revenues of ₹3,57,429 Mn and Profit After Tax of ₹13,504 Mn in FY26 Note: 1 FOCO - Franchisee Owned Company Operated K

₹13,504

2 Kalyan showroom in the USA, 1 FOCO in the UK Revenues of ₹3,57,429 Mn and Profit After Tax of ₹13,504 Mn in FY26 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

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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 7 Company at a Glance Key Highlights 33 Years 466 38 2 1 Since Formation Showrooms in India (including Candere) Showrooms in Middle East Show

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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

“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 38 Consolidated Performance Continued Focus On Strengthening Balance Sheet Net Debt to Equity (Times) Net Debt to Equity (with GML) 2 Net Debt to Equity (without GML) 3 0.7 0.6 0.20 0.5 0.5 0.02 (0.02) (0.05) FY23 FY24 FY25 FY26”

Note

5

Notes

5

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 • 2 • 1 • 1 • 1 • 9• 3 Punjab Rajasthan • 11• 4 Haryana • 16 • 3 Madhya Pradesh • 9 • 6 Gujarat • 20• 10 Maharashtra • 34 • 20 Pan-India Presence Karnataka • 28 • 12 Ke

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 1,139 ‘My Kalyan“ centres 10 Mn Endeavored customers connect each year ~20% Contribution to revenue from operations in India 4,375 Employees ~31% 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 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 of advertising MS. RADHIKA RAMANI Independent Director • Currently serves as Global Head of Growth Operations at Dentsu, UK; Former Managing Partner (South) at Motivator (part of GroupM Network) • ~25 years of experience in media and communications MR. C. R. RAJAGOPAL Independent Director • Chartered Accountant and Former Partner at Deloitte, Haskins and Sells LLP • ~35 years

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 FY25 FY26 Clear Strategic Direction Towards Capital-Efficient Growth, ROCE Accretive Expansion and Shareholder-Friendly Measures Scale & Growth Profitability Returns Leverage Revenues – Consol ₹1,01,009 Mn ₹2,50,451 Mn Revenues – India ₹78,458 Mn ₹2,16,386 Mn ₹3,57,429 Mn ₹3,10,271 Mn EBITDA Margin 7.5% 6.1% 7.0% Profit After Tax (PAT) ₹1,423 Mn ₹7,142 Mn ₹13,504 Mn ROCE1 ROE2 Net