Kalyan Jewellers India Limited has successfully obtained shareholder approval for a significant amendment to its Employee Stock Option Plan 2020 (ESOP 2020). The postal ballot results announced on December 15, 2025, show overwhelming support for doubling the stock options available under the plan.

Postal Ballot Results

The voting results demonstrate strong shareholder confidence in the company's employee retention strategy:

Key Details of the Approved Amendment

The amendment increases the total number of employee stock options from 30 lakh to 60 lakh, with each option convertible into one equity share having a face value of ₹10.00. The special resolution was passed with the requisite majority as confirmed in the scrutinizer's report.

ESOP 2020 Features

The amended Employee Stock Option Plan includes comprehensive provisions for employee participation:

Voting Process and Compliance

The company conducted the postal ballot process through National Securities Depository Limited (NSDL) e-voting platform. MR Thiagarajan, Company Secretary in Practice, served as the scrutinizer for the voting process. The postal ballot notice dated November 7, 2025, was sent to shareholders via email on November 13, 2025. The company published requisite notices in The Indian Express (English) and Deepika (Malayalam) newspapers on November 14, 2025.

Strategic Impact

This expansion of the ESOP pool enhances Kalyan Jewellers' ability to attract, retain, and motivate key talent across the organization and its subsidiaries. The overwhelming shareholder approval reflects confidence in the company's strategy to align employee interests with organizational objectives through equity-based compensation. Chairman Vinod Rai announced the results based on the scrutinizer's report submitted on December 15, 2025.

Kalyan Jewellers India , a prominent player in the Indian jewelry market, has announced robust financial results for the second quarter of the fiscal year. The company's performance showcases significant growth across key financial metrics, indicating a strong market position and effective business strategies.

Financial Highlights

Key Takeaways

Doubled Net Profit

Kalyan Jewellers has reported a remarkable 99.2% increase in consolidated net profit, rising from ₹1.31 billion in the previous year's corresponding quarter to ₹2.61 billion in the current quarter.

Strong Revenue Growth

The company's revenue saw a substantial increase of 29.7%, reaching ₹78.56 billion compared to ₹60.58 billion in the same quarter last year.

Improved Operational Efficiency

EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) grew by 55.3% year-on-year, from ₹3.20 billion to ₹4.97 billion, indicating enhanced operational efficiency.

Enhanced Profitability

The EBITDA margin improved significantly, rising from 5.27% to 6.33%, suggesting better cost management and increased profitability.

These results demonstrate Kalyan Jewellers' strong performance in the jewelry market, potentially reflecting positive consumer sentiment and effective business strategies. The substantial growth in net profit, coupled with improved EBITDA margins, indicates the company's ability to manage costs while driving revenue growth.

The jewelry sector, often considered a barometer of consumer confidence and discretionary spending, seems to be showing resilience based on Kalyan Jewellers' performance. This could be indicative of a broader trend in the luxury goods market or specific successes in the company's business model.

As the company continues to navigate the dynamic retail landscape, these results may position Kalyan Jewellers favorably for future growth and market expansion. However, it's important for investors and market watchers to consider these results in the context of broader market trends and potential future challenges in the retail and luxury goods sectors.