{"id":21658,"date":"2025-11-25T11:55:03","date_gmt":"2025-11-25T06:25:03","guid":{"rendered":"http:\/\/43.205.138.160\/?post_type=media-review&#038;p=21658"},"modified":"2025-11-25T11:55:03","modified_gmt":"2025-11-25T06:25:03","slug":"21658","status":"publish","type":"media-review","link":"https:\/\/signalz.pro\/media-review\/21658\/","content":{"rendered":"<p>Investment Thesis<br \/>\n\uf0b7 Retail-Led Margin Expansion<br \/>\no Launch of a 10,000 sq. ft. flagship showroom in Jan 2026 (Pongal season)<br \/>\nprojected to add \u20b9550\u2013600 crore revenue annually at 12\u201313% EBITDA margins.<br \/>\no Retail share expected to rise from 10% to 30% by FY2027, lifting overall margins<br \/>\ntoward 5%.<br \/>\n\uf0b7 Robust Growth &amp; Financial Strength<br \/>\no Revenue surged from \u20b9258 crore (FY22) to \u20b91,773 crore (FY25), a ~37% CAGR.<br \/>\no Debt-to-equity reduced sharply from 2.94x (FY21) to 0.28x (FY25); ROE steady at<br \/>\n~22%.<br \/>\n\uf0b7 Digital Initiatives &amp; Product Diversification<br \/>\no Gold Savings App and upcoming e-commerce platform target younger customers.<br \/>\no Expanding into diamond jewellery (including lab-grown) and premium temple<br \/>\njewellery.<br \/>\n\uf0b7 Strong Industry Tailwinds<br \/>\no Jewellery sector to grow ~9% CAGR to \u20b911.2 lakh crore by 2030.<br \/>\no Organised share rising to 36\u201338%, aiding compliant branded players like<br \/>\nKhazanchi.<br \/>\n\uf0b7 Attractive Valuation Upside<br \/>\no Trades at ~21x P\/E vs Titan (84x) and Kalyan (55x).<br \/>\no Comparable margins; rerating potential from expanding retail footprint.<a href=\"http:\/\/43.205.138.160\/wp-content\/uploads\/2025\/11\/Buy-Call-on-Khazanchi-Jewellers_21-Nov-2025.pdf\">Buy Call on Khazanchi Jewellers_21 Nov 2025<\/a><\/p>\n","protected":false},"comment_status":"closed","ping_status":"closed","template":"","media-category":[9],"media-subscription":[],"call-tags":[372],"class_list":["post-21658","media-review","type-media-review","status-publish","hentry","media-category-stock-exchange","call-tags-investing"],"acf":[],"_links":{"self":[{"href":"https:\/\/signalz.pro\/api\/wp\/v2\/media-review\/21658","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/signalz.pro\/api\/wp\/v2\/media-review"}],"about":[{"href":"https:\/\/signalz.pro\/api\/wp\/v2\/types\/media-review"}],"replies":[{"embeddable":true,"href":"https:\/\/signalz.pro\/api\/wp\/v2\/comments?post=21658"}],"version-history":[{"count":1,"href":"https:\/\/signalz.pro\/api\/wp\/v2\/media-review\/21658\/revisions"}],"predecessor-version":[{"id":21660,"href":"https:\/\/signalz.pro\/api\/wp\/v2\/media-review\/21658\/revisions\/21660"}],"wp:attachment":[{"href":"https:\/\/signalz.pro\/api\/wp\/v2\/media?parent=21658"}],"wp:term":[{"taxonomy":"media-category","embeddable":true,"href":"https:\/\/signalz.pro\/api\/wp\/v2\/media-category?post=21658"},{"taxonomy":"media-subscription","embeddable":true,"href":"https:\/\/signalz.pro\/api\/wp\/v2\/media-subscription?post=21658"},{"taxonomy":"call-tags","embeddable":true,"href":"https:\/\/signalz.pro\/api\/wp\/v2\/call-tags?post=21658"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}