#1GREE CHRIS-RESIDEN-SPARTEMENT ----is-ment AARE REST INVESTOR PRESENTATION May 2022 KALYAN JEWELLERS KALYAN JEWELLERS INDIA LIMITED#2Safe Harbor KALYAN JEWELLERS This presentation and the accompanying slides (the "Presentation"), which have been prepared by Kalyan Jewellers India Limited (the "Company"), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form the basis or be relied on in connection with any contract or binding commitment whatsoever. No offering of securities of the Company will be made except by means of a statutory offering document containing detailed information about the Company. This Presentation has been prepared by the Company based on information and data which the Company considers reliable, but the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this Presentation. This Presentation may not be all inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded. Certain matters discussed in this Presentation may contain statements regarding the Company's market opportunity and business prospects that are individually and collectively forward-looking statements. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and assumptions that are difficult to predict. These risks and uncertainties include, but are not limited to, the performance of the Indian economy and of the economies of various international markets, the performance of the industry in India and world-wide, competition, the company's ability to successfully implement its strategy, the Company's future levels of growth and expansion, technological implementation, changes and advancements, changes in revenue, income or cash flows, the Company's market preferences and its exposure to market risks, as well as other risks. The Company's actual results, levels of activity, performance or achievements could differ materially and adversely from results expressed in or implied by this Presentation. The Company assumes no obligation to update any forward-looking information contained in this Presentation. Any forward- looking statements and projections made by third parties included in this Presentation are not adopted by the Company and the Company is not responsible for such third party statements and projections.#3CONTENTS 01 5-8 COMPANY OVERVIEW 04 29-31 STRATEGIC PRIORITIES 02 10-25 INVESTMENT HIGHLIGHTS 05 33-44 PERFORMANCE REVIEW 03 27 E-COMMERCE PLATFORM#401 COMPANY OVERVIEW KALYAN JEWELLERS#5Company at a glance Introduction To Kalyan Jewellers ESTABLISHED IN 1993 BY MR. T.S. KALYANARAMAN. BUILT ON A RICH FAMILY LEGACY AND DECADES' OLD INDUSTRY EXPERTISE OF ITS FOUNDER. One of India's largest jewellery company Established brand built on core values of trust & transparency One of the pioneers of introducing transparency and consumer friendly measures KALYAN JEWELLERS: INDIA'S TRUSTED JEWELLER KALYAN JEWELLERS Pan-India presence with scaled operations in the Middle East Hyperlocal business model that enables localization at scale Unique grassroots "My Kalyan" network with strong distribution capabilities for deep customer outreach Product basket includes wide range of gold, studded and other jewellery products across price points Products cater to multiple use cases ranging from special occasions such as weddings to daily wear KALYAN JEWELLERS INDIA LIMITED |#6Timeline History of Trust - Thriving on a 100-Year-Old Legacy Kalyan's First Generation 1908: Started the entrepreneurial journey with the first textile mill in Kerala 1913: Commenced textile retailing by opening its first showroom in Thrissur, Kerala T.S. Kalyanarama lyer T.K. Seetharama lyer T.S. Kalyanaraman Kalyan's Second Generation 1972: The second generation expanded retail presence to more textile showrooms KALYAN JEWELLERS Kalyan's Third Generation 1993: The third generation of Kalyan family, under the visionary leadership of Mr. T. S. Kalyanaraman, entered jewellery retailing by opening its first showroom under the brand ‘Kalyan Jewellers' in Thrissur, Kerala Rajesh Kalyanaraman Ramesh Kalyanaraman Kalyan's Fourth Generation Mr. Rajesh Kalyanaraman and Mr. Ramesh Kalyanaraman joined Mr. T. S Kalyanaraman right from the initial days of Kalyan Jewellers 2021: Listed on NSE and BSE as Kalyan Jewellers India Limited 2022: Reached the count of 154 showrooms across India and in Middle East Amongst Few Business Houses With Over 100 Years Legacy in Corporate India KALYAN JEWELLERS INDIA LIMITED |#7Key milestones Evolution Of A Trusted Pan-India Brand Opened first showroom under the brand 'Kalyan Jewellers' in Thrissur, Kerala Launched "My Kalyan" customer outreach initiative Entered Telangana and Karnataka markets Entered Maharashtra and Middle East markets 1993 2010 2004 Opened first showroom outside Kerala, in Coimbatore, Tamil Nadu 2012 2013 2014 Entered Chennai and East India (Orissa) markets 2015 2016 KALYAN JEWELLERS Incremental equity investment by Warburg Pincus Purchased a stake in Enovate Lifestyles Private Limited and its online platform at www.candere.com Entered Bihar market 124 showrooms in India and 30 showrooms in the Middle East 2017 2018 2019 2021 TODAY Opened first showroom outside South India in Ahmedabad, Gujarat Equity investment by Warburg Pincus, a global private equity firm Entered North India (Delhi) market Entered West Bengal and Rajasthan markets Launched the Kalyan Matrimony (formerly known as Sanskriti Matrimony) website Entered Northeast (Assam), Chhattisgarh and Jharkhand markets Listed on NSE & BSE as Kalyan Jewellers India Limited - Initial Public Offering ("IPO") KALYAN JEWELLERS INDIA LIMITED | 7#8Company at a glance Key Highlights в 28 Years Since Formation 124 Showrooms in India 30 Showrooms in Middle East 865 "My Kalyan" Grassroots Stores 5 Countries 21 States & Union Territories in India 13 Procurement Centres 8,386 Employees KALYAN JEWELLERS KALYAN JEWELLERS INDIA LIMITED | 8#902 INVESTMENT HIGHLIGHTS KALYAN JEWELLERS#10Key pillars of strength Kalyan Jewellers: Built On Core Competitive Strengths KALYAN JEWELLERS 1 Leading brand in a large market with rapidly increasing organised share driven by significant growth tailwinds 6 Robust and Effective Internal Control Processes Information technology and operations management systems to support a growing organization and showroom network with a pan India presence 2 Established Brand Built on Core Values of 7 Trust & Transparency Trusted brand synonymous with solving key pain Effective Marketing and Promotion Strategy Designed to reinforce local touch of a Pan India brand while maintaining consistent brand messaging points of the industry 8 3 Pan India Presence Extensive Grassroot MyKalyan Network Enabling Deep Distribution One of India's largest jewellery companies with a Pan India network of showrooms Grassroots customer outreach network which is a key facilitator of being considered as the neighborhood jeweller in each market 4 Hyperlocal Strategy Creating Wide Market Addressability Strong Promoters and Management Leadership 9 Hyperlocal strategy to cater to a wide range of geographies and customer segments Visionary promoters and strong management team with demonstrated track record 5 10 Wide Range of Product Offerings Diversified range of product offerings and sub brands targeted at a diverse set of customers 10 Strong Governance Framework Eminent Board of Directors from diverse backgrounds KALYAN JEWELLERS INDIA LIMITED | 10#11Industry overview Indian Jewellery Market: Favorable Trends And Characteristics Rising Share Of Organised Retail In Jewellery To Continue ■Organised (%) Unorganised (%) 68 60 95 94 32 40 2000 2007 2020 2025 Wedding Jewellery Dominates The Industry Wedding wear 60% 30% Daily wear Fashion wear 10% Source: Technopak 2nd 3rd Largest gold market in the world Highest component of retail consumption Indian Jewellery Market Characteristics Characterised by localised consumer preferences ('hyperlocal' nature) KALYAN JEWELLERS Gold Jewellery Demand 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 out of the total gold demand No given recyclability Inventory obsolescence risk North East 20% 15% of jewellery South 40% West 25% O KALYAN JEWELLERS INDIA LIMITED | 11#12Key market trends & characteristics Organised Jewellery Market: Structural Growth Drivers JEWELLERY IN INDIA IS A LARGE AND ATTRACTIVE MARKET WITH SIGNIFICANT TAILWINDS Shifting Customer Behaviour Customers' expectation: Transparent pricing, product purity and quality standards Increasing brand consciousness: Increasing on the back of organised retailers' marketing strategies After sales service: More emphasis as jewellery is either owned for a lifetime or regarded as long-time investment بالله Superior Organisational Capabilities Retail experience: Ready made ornaments, wide product range and superior showroom experience Safety and security: Shopping experience in spacious, hygienic surrounding; service by well-trained store personnel; robust systems 雪 Supportive Regulatory And Legislative Changes Demonetization: Cashless transaction brings further transparency GST: Enforcing tax compliance Mandatory PAN: For transactions > 2,00,000 establishes buyer identity Rural policy push: Given rural India's higher cultural association with gold Hallmarking of gold jewellery: Compulsory from 2021 Source: Technopak KALYAN JEWELLERS KALYAN JEWELLERS INDIA LIMITED | 12#13Established 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 KALYAN JEWELLERS KALYAN JEWELLERS INDIA LIMITED | 13#14Presence A True Pan-India Player With Expansive Geographical Presence Pan-India Presence Karnataka Bengaluru Dickenson Road Bengaluru Jayanagar Bangaluru Kammanahalli Bengaluru - Koramangala Bengaluru Malleswaram Bengaluru Marathahalli Bengaluru Phoenix Mall Bengaluru Lulu Mall Belgaum Bellary Davangere Hubli Hassan Mysore Mangalore Shivamogga Udupi Kerala Adoor Alappuzha Angamali Attingal Kochi Kannur Kollam Kodungallur Kozhikode Kottayam Palakkad Pathanamthitta Perinthalmanna Thalassery Thiruvananthapuram Thrissur Round East Thrissur Round North Thiruvalla Thodupuzha Chandigarh Punjab Amritsar Jalandhar Mohali Ludhiana Rajasthan Jodhpur Jaipur Udaipur Haryana Gurgaon Madhya Pradesh Bhopal Indore Gujarat Ahmedabad Jamnagar Rajkot Surat Vadodara Maharashtra Mumbai - Borivali Mumbai Ghatkopar Mumbai Thane Mumbai Vashi Mumbai Andheri Mumbai Phoenix Mall, Lower Parel Mumbai Matunga Nagpur Nashik Pune Karve Road Pune Hadapsar Trivandrum 500,000+ sq ft Pan-India 37,000+ sq ft Middle East Showroom aggregate retail space 1 Source: Technopak KALYAN JEWELLERS Tamil Nadu Chennai Adayar Chennai Anna Nagar Chennai Chennai Chengalpettu Chromepet Chennai T.Nagar Chennai Velachery Chennai Usman Road Coimbatore Erode Karur Kancheepuram Odisha Bhubaneshwar Jharkhand Ranchi Telangana Hyderabad - Dilsukh Nagar Hyderabad - Punjagutta Hyderabad Kukatpally Hyderabad - AS Rao Nagar Karim Nagar 81% Showrooms in India 19% Showrooms in Middle East Kumbakonam Madurai Madurai 2nd Showroom Nagercoil Vellore Ramanathapuram Khammam Warangal West Bengal Kolkata Kolkata Camac Street Gariahat Salem Tanjore Thiruvannamalai Tirunelveli Trichi Trichi 2nd Showroom Thoothukudi Kolkata Salt Lake Siliguri Assam Guwahati Balanced Pan-India presence 62% South India 38% Non-South India Pondicherry Andhra Pradesh Guntur Nellore Kadapa Kurnool Kakinada Visakhapatnam Viayawada Tirupati Chhattisgarh Raipur Bihar Patna Delhi South Extension Dwarka Karol Bagh Pitampura Preet Vihar Vegas Mall, Dwarka Uttar Pradesh Ghaziabad Lucknow Kanpur Noida Noida 2 36% Metro Presence 6% 64% Non-Metro Presence Organised Jewellery Market Share 1 124 Showrooms 30 Showrooms in Middle East 865 "My Kalyan" Grassroots Stores 5 21 Countries States & Union Territories in India in India KALYAN JEWELLERS INDIA LIMITED | 14#15Marketing and promotion strategy Effective Marketing Strategy REINFORCING THE LOCAL TOUCH, PLAYING AS A PAN-INDIA BRAND *10,000+ mn Marketing and Advertising Investments In Last 4 Years NATIONAL BRAND AMBASSADORS Amitabh Bachchan Katrina Kaif Jaya Bachchan REGIONAL BRAND AMBASSADORS Prabhu Ganesan Tamil Nadu (Tamil) Nagarjuna Akkineni Andhra Pradesh, Telangana (Telugu) Shiv Rajkumar Karnataka (Kannada) Manju Warrier Kerala (Malayalam) REGIONAL INFLUENCERS Pooja Sawant Maharashtra (Marathi) Shweta Nanda Bachchan Wamiqa Gabbi Punjab (Punjabi) KALYAN JEWELLERS Ritabhari Chakraborthy West Bengal (Bengali) Kalyani Priyadarshan South India Kinjal Rajpriya (Gujarati) KALYAN JEWELLERS INDIA LIMITED | 15#16Hyperlocal Jeweller Hyperlocal Jeweller Catering To Varied Geographies And Customer Segments KALYAN JEWELLERS Localisation In Brand Communication And Marketing Localisation Of Our Product Portfolio Localisation Of Our Showroom Experience For Customers Localisation Through Our "My Kalyan" Network State and city specific brand campaigns Brand ambassadors with national, regional and local appeal Communication in local language Product portfolio as per local market preferences Local artisans as contract manufacturers 13 procurement centres across key jewellery manufacturing regions Staff who speak local language and know local culture Showrooms reflect local tastes and sensibilities Focused grassroots outreach across urban, semi- urban and rural areas Dedicated 3,234 "My Kalyan" personnel for door-to-door and direct marketing among local communities KALYAN JEWELLERS INDIA LIMITED | 16#17Hyperlocal Jeweller Hyperlocal Jeweller... helps build a large customer base Extensive understanding of local requirements and its design preferences Personalized shopping experience with locally recruited sales staff and sensitivities to micro market populace Unique marketing approach of localizing the brand with local superstars Wide assortment of product SKUs with designs appealing to each target micro market Mumbai Region - Localised design Borivali Gujarati & North Indian Thane Maharashtrian BORIVALI dar 48 Bhiwa 160 Thane Dombivl ANDHERI EAST JUHU 48 Mumbai Navi Mumbai PANVEL Vashi 348 South Indian FORT 348A Kalyan with its deep insight on local preferences has created significant barriers to entry -O Ghatkopar Gujarati KALYAN JEWELLERS Personalization and localization has resulted in significant portion of sales coming through repeat sales Product Design KALYAN JEWELLERS INDIA LIMITED | 17#18'My Kalyan' network "My Kalyan" Centres: Unique Grassroots Customer Outreach Network ACTIVITIES AND STRATEGIES IMPLEMENTED TO PROMOTE KALYAN BRAND Grassroots Network: Facilitator of the neighborhood jeweller proposition in India Dedicated "My Kalyan" personnel for door-to-door and direct marketing efforts among local communities • • • 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 MYKALYAN KALYAN Showcase product catalogues MY KALYAN MYMKALYAN Drive traffic to showrooms Purchase advance schemes enrollment Enrich customer database Relationship-building with players in wedding ecosystem KALYAN JEWELLERS 865 'My Kalyan" centres (~7 centres per showroom) 10 mn Endeavored customer connect each year 20%+ Contribution to revenue from operations in India 3,234 Employees 38%+ Of enrolment to purchase advance schemes in India KALYAN JEWELLERS INDIA LIMITED | 18#19Product offerings Wide Range Of Product Offerings Targeted At A Diverse Set Of Customers WEDDING JEWELLERY ASPIRATIONAL JEWELLERY SOLD VIA BRANDS MUHURAT SOLD VIA BRANDS MUDHRA, RANG TARGET AUDIENCE WEDDING CUSTOMERS TARGET AUDIENCE MID TO HIGH-END CUSTOMERS STAPLE REGIONAL JEWELLERY STUDDED JEWELLERY - DIAMOND, POLKI, UNCUT DIAMOND, PRECIOUS STONES KALYAN JEWELLERS SOLD VIA BRANDS AISHWARYAM SOLD VIA BRANDS NIMAH, TEJASVI, ZIAH, HERA HV TARGET AUDIENCE VALUE CONSCIOUS CUSTOMERS TARGET AUDIENCE WEDDING, MID TO HIGH-END CUSTOMERS KALYAN JEWELLERS INDIA LIMITED | 19#20Product offerings Jewellery Sub-brands Catering To Various Product Themes And Price Points LAUNCHED A NUMBER OF SUB-BRANDS TARGETING DIFFERENT CUSTOMER SEGMENTS AND OCCASIONS Celebrating Indian Bride the MUHUPAT WEDDING JEWELLERY GOLD, UNCUT DIAMONDS, PRECIOUS STONES AND DIAMONDS BRIDAL WEAR MUDHRA HAND CRAFTED ANTIQUE JEWELLERY ANTIQUE (NON YELLOW GOLD FINISH) OCCASION WEAR nimah antard apoorva ziah Anokhi INFINITE SPARKLES uncut diamond Bridal Diamond Collection DIAMONDS FOR SPECIAL OCCASIONS DIAMOND JEWELLERY DIAMOND JEWELLERY DIAMOND JEWELLERY LIGHT WEIGHT, PRONG SETTING ILLUSION SETTING COLLECTION Glo DANCING DIAMOND GOLD STUDDED WITH SEMI PRECIOUS STONES DIAMOND JEWELLERY SOUTH INDIAN HERITAGE JEWELLERY CASUAL/SEMI FORMAL/OCCASION Laya KALYAN JEWELLERS rang precious stones LIGHT WEAR CLUSTER SETTING COLLECTION UNCUT DIAMOND STUDDED OCCASION WEAR PRECIOUS STUDDED JEWELLERY OCCASION WEAR he TEJASVI POLKI DIAMONDS Diamonds for all expressions everyday diamond DIAMOND JEWELLERY DIAMOND JEWELLERY POLKI COLLECTION Gold FANCY SHAPE/ROSE GOLD GENERIC/AFFORDABLE /DIALY WEAR OCCASION WEAR Diamond Uncut Diamond KALYAN JEWELLERS INDIA LIMITED | 20#21Digital initiatives Leveraging Technology To Drive Footfalls, Customer Engagement And Conversion Targeted Digital Data Mining And Customer Insight Analytics Driven Marketing Through Rich Customer Outreach Digitally Enabled MyKalyan centres E-commerce KALYAN JEWELLERS Improving Employee Productivity And Efficiency Through Technology Advancements • Capturing customer information at store level, running analytics and targeted campaigns Upselling related products at point-of-sale through instant dynamic voucher codes • Social media mapping to enrich customer database • Use of Content Marketing Platform ('near me search') to drive search traffic to local store micro-sites Enhancing customer conversion by following up on the digital footprint MyKalyan staff equipped with mobile app that: • • Stores customer data Manages lead generation MyKalyan outlets also use 'near me search' - Candere Kalyan's e-commerce site providing access to India, US and UK markets (currently a separate inventory) Online Gold Ownership Certificate customer can buy online and redeem at the store • • Employee training during the lockdown digitally Customer outreach initiated during lockdown, via employee mobile app Employee targets and goal achievements mapped through app, ensuring transparency efficiency KALYAN JEWELLERS INDIA LIMITED | 21#22Internal process and controls Robust And Effective Internal Processes And Controls Enterprise Resource Planning System Allowing Real-time Visibility Into Inventory Strict Inventory Management & Monitoring Practices - Accounting For Each Piece Of Inventory Regular Inventory Checks Big 4 Auditor חדוחנה KALYAN JEWELLERS Integrated Operations To Allow Inventory Movement Between Showrooms Helpful during peak seasons, allowing management to respond quickly to replenish or reallocate inventory based on shifting customer demand patterns Jewellery identification with a unique barcode, which aids tracking and monitoring of each piece of inventory further linked to the central ERP system Daily inventory checks at the close of business at each showroom, monthly inventory weight verifications by regional managers/business heads Deloitte Haskins & Sells LLP as the current Statutory Auditor since 2015 Inventory movement to align jewellery offerings with customer preferences and accommodate variations in seasonal buying patterns KALYAN JEWELLERS INDIA LIMITED | 22#23Board of Directors Board Of Directors: Enriching Kalyan With Their Expertise And Insight Mr. Vinod Rai Chairman & Independent Non-Executive Director* • . Mr. Vinod Rai was the Former Comptroller and Auditor General of India Mr. Rai was awarded the Padma Bhushan, India's third highest civilian award, in recognition of his services to the country Visionary Promoters: Laying Out Business Strategy Mr. T.S. Kalyanaraman Chairman and Managing Director • 46 years retail experience • 26 years in the jewellery industry • With Kalyan since inception Mr. T.K. Seetharam Whole-time Director Mr. T.K. Ramesh Whole-time Director ~23 years with Kalyan • ~21 years with Kalyan Non-Executive Directors: Retail Industry Experience And Financial Sponsor Representation Independent Directors: Industry Experience & Expertise In Key Domains Mr. Salil Nair Non-Executive Director • ~24 years of experience in the retail industry Ms. Kishori Jayendra Udeshi Independent Director Several years of experience in policy and banking sectors • Former CEO of Shoppers Stop • First woman Deputy Governor of RBI and Director of RBI • Mr. Anish Kumar Saraf Non-Executive Director Highdell Nominee Director . Managing Director at Warburg Pincus, India to be nominated on Board of State Bank of India Mr. Agnihotra Dakshina Murty Chavali Independent Director KALYAN JEWELLERS Mr. Anil Sadasivan Nair Independent Director ~20 years of experience in the field of advertising Former CEO & Managing Partner of Law & Kenneth Saatchi & Saatchi Mr. T.S. Anantharaman Independent Director Several years of experience in banking, teaching management and accounting • Former Chairman of The Catholic Syrian Bank • ~31 years of experience in the banking sector • Former Executive Director of Indian Overseas Bank and former Nominee Director of Bank of Baroda amongst others *Note: Appointment as Chairman & Independent Non-Executive Director is subject to regulatory and shareholder approval. Mr. Mahalingam Ramaswamy Independent Director • ~36 years of experience in the banking sector • Former Managing Director of State Bank of Travancore KALYAN JEWELLERS INDIA LIMITED | 23#24New Appointment Appointment of Vinod Rai as Chairman & Independent Non-Executive Director KALYAN JEWELLERS • Mr. Vinod Rai was the Former Comptroller and Auditor General of India Mr. Rai has held various positions within the Indian government as well as in state governments and has been instrumental in a wide variety of reforms in India, including as Chairman of the Banks Board Bureau, a body set up by the Indian government to reform public banking in India • Mr. Rai was awarded the Padma Bhushan, India's third highest civilian award, in recognition of his services to the country • He has Masters degrees both in Economics as well as Public Administration from Delhi School of Economics, University of Delhi and the Harvard Kennedy School, Harvard University, USA, respectively Commenting on the association with Kalyan Jewellers, Mr. Rai said: "It is a privilege for me to be associated with Kalyan Jewellers, a company which has built the highest levels of trust amongst its stakeholders, conducts its business in an ethical and transparent manner and upholds the standards of good corporate governance. Kalyan Jewellers has a well-recognized brand, pan-India footprint and a strong management team at the helm of the business. The Kalyanaraman family, with its deep commitment to customer transparency and enlightenment, has been at the forefront of transforming the jewellery retailing sector in India. I eagerly look forward to my association with Kalyan." Note: Subject to regulatory and shareholder approval KALYAN JEWELLERS INDIA LIMITED | 24#25Management Team Professional Management Team Driving Business Growth & Expansion Mr. SANJAY RAGHURAMAN Chief Executive Officer Qualified CA and CWA • 9+ years with Kalyan, 15 years prior experience in retail, financial services & operations • Previously worked with HDB Financial Services, Wipro and Clix Capital CEO instrumental in driving geographical expansion and evolution into a pan India business, supported by a strong and experienced team of cross functional professionals Mr. V. SWAMINATHAN Chief Financial Officer • Bachelor in Science from University of Madras, CA • 5+ years with Kalyan ⚫ 27 years experience in finance, corporate planning & control Mr. SANJAY MEHROTTRA Head of Strategy and Corporate Affairs • Masters in Management Studies • 3+ years with Kalyan ~27 years experience in Indian capital markets Mr. ABRAHAM GEORGE Head of Treasury and Investor Relations • MBA from ICFAI University and Bachelors in Commerce 4+ years with Kalyan • ~17 years of experience in finance and capital markets Mr. ARUN SANKAR Head of Technology • Master of Technology (Computer Science) and engineering and a Master of Science (integrated) in Software Engineering • 7+ years with Kalyan • ~14 years experience in the technology sector Mr. RAJESH R Head of Legal and Compliance • Bachelor of law and enrolled with Bar Council of Kerala • ~2 year with Kalyan ⚫ 14 years experience in legal industry Mr. JISHNU R. G. Company Secretary & Compliance Officer • Bachelor of Commerce and Company Secretary • 3 years with Kalyan • ~7 years experience in corporate compliance KALYAN JEWELLERS KALYAN JEWELLERS INDIA LIMITED | 25#2603 E-COMMERCE PLATFORM KALYAN JEWELLERS#27E-Commerce Platform Candere A Kalyan Jewellers Company - 2013 2014 2016 2017 KALYAN JEWELLERS Candere website launched Identified need for versatility of precious jewellery on online platforms Achieved revenue of 1.1 Crores Established a fully commercial e-commerce website Increased catalogue to 100 product categories & a variety of 4,000+ designs Increased average ticket size and conversion ratio substantially Kalyan Jewellers make Candere.com their online platform through an acquisition Extraordinary together! *CANDERE KALYAN A KALYAN JEWELLERS COMPANY JEWELLERS Today Reported a revenue of *1,412 mn for FY22; CAGR growth of 83% since acquisition by Kalyan Jewellers Annualised monthly revenue run rate of ~ *1,800 mn Strong presence and user loyalty on leading marketplaces - Amazon and Flipkart Customer trust and robust IT infrastructure has resulted in web traffic to increase from 3.7 mn in 2017 to 25 Mn in 2022 KALYAN JEWELLERS INDIA LIMITED | 27#2804 STRATEGIC PRIORITIES KALYAN JEWELLERS#29History & Future roadmap A Purpose-led Growth Across Different Phases KALYAN JEWELLERS PHASE I 1993-2003 Strengthening Our Roots Focus on brand building Focused on building local supplier network and ecosystem PHASE II 2004-2011 Growing In Southern India Expansion of showroom network across southern states of India ⚫ Largely focused on selling plain gold jewellery in South India Launched "My Kalyan" customer outreach initiative PHASE III 2012-2021 PHASE IV ROAD AHEAD Capitalising On The Foundation Pan-India Expansion, Professionalisation And Investment Pan-India, hyperlocal jeweller and concurrent expansion of product mix and diversification of distribution channels Equity investment from Warburg Pincus Built a professionally managed team Expand presence across several markets in India leveraging substantial past efforts and experience Calibrated showroom expansion, widen product offerings, leverage "My Kalyan" network and analytics-driven customer outreach Well poised to capitalise on attractive industry dynamics given investments made in brand, store infrastructure, team and systems/processes KALYAN JEWELLERS INDIA LIMITED | 29#30PRIORITIES Long-term objectives & priorities Our Strategic Priorities: Balancing Growth And Expansion LONG-TERM OBJECTIVES Leverage Scalable Business Model To Expand Showroom Network And Diversify Distribution Channels Widen Product Offerings To Further Increase Consumer Reach Leverage "My Kalyan" Network To Deepen Customer Outreach And Strengthen The Distribution Network In Core Markets Invest In CRM, Marketing And Analytics To More Effectively Target Consumers And Drive Sales Strong brand, scalable business model, effective operational processes and proven track record of profitable expansion, positions Kalyan well to capitalise on the market opportunity arising from continued shift in demand in favour of organised jewellery companies Continue to increase focus on higher margin studded jewellery and explore opportunities to expand range of sub brands to introduce new branded jewellery lines targeted at both specific customer niches as well as the luxury market Expand "My Kalyan" network in areas where Kalyan is currently underpenetrated relative to the scale of the latent demand opportunity in those particular markets Invest in CRM, campaigns and technologies to analyse and manage customer interactions and related data throughout the customer lifecycle, with goal of creating a long-term relationship with customers, building customer retention and driving sales KALYAN JEWELLERS INDIA LIMITED | 30 KALYAN JEWELLERS#31Long-term objectives & priorities Way Forward - FY25 Same Stores Sales Growth Margins - FY25 India Expansion Middle East Expansion Targeted same stores sales growth of mid to high single digits • • ០០០ To improve gross margins organically through upselling and rise in the share of revenues from Non South region The Company aims to improve gross margins by 2%+ and maintain a steady state EBITDA margins of 10%+ The EBITDA margins will be driven by increase in gross margins coupled with operating leverage . To increase the share of revenue from non- south markets; incremental showrooms predominantly in non- south markets 12-15 new showrooms in India annually to be funded by internal accruals Franchise model to further support the pace of expansion in India • • Online Platform: Candere Calibrated expansion in Middle East on the back of good business traction in the region over the last three consecutive quarters Expansion to be fully funded by the internal accruals from the region • Aggressive plan drawn up for the for the next phase of growth First offline showroom to be opened during the current financial year KALYAN JEWELLERS KALYAN JEWELLERS INDIA LIMITED | 31#3205 PERFORMANCE REVIEW KALYAN JEWELLERS#33Recent Developments Key Highlights for FY22 Significant Acceleration in Growth & Profitability Profile Through COVID-19 Period • Industry dynamic of rapidly accelerating demand shift towards organised players, significantly benefitting Kalyan • Government's impetus towards formalising sector with mandatory hallmarking norms is a further tailwind for the industry • Aided by industry tailwinds and strong execution, Kalyan's business has seen a significant acceleration in growth and profitability • H2FY22 Revenue growth of 32% in core India business vs. Pre-COVID (H2FY20) and 24% Overall Revenue Growth in FY22 (YoY) • • PAT of *2,753 mn (past 3 consecutive quarters) represents a significant acceleration in profitability from pre-COVID levels (1,423 mn PAT in FY20) Continued expansion of network infrastructure to capitalize on demand opportunity (opened 18 stores in FY22, all in India) Appointment of Independent Non-Executive Chairman (Vinod Rai) - Adhering to Highest Standards of Corporate Governance . Mr. Rai was the Former Comptroller and Auditor General of India, the former Chair of the United Nations Panel of External Auditors and has held various positions within the government where he has been instrumental in a wide variety of reforms in India • Was also was awarded the Padma Bhushan, one of India's highest civilian awards • Yet another step in the evolution of Kalyan towards commitment to upholding the highest standards of good corporate governance Continued Focus on Strengthening Balance Sheet • Raised equity through IPO in March 2021 • Net D/E ratio is at 0.8x as on FY22 (down from 1.3x pre-COVID). • Net D/E excluding Gold Metal Loans stands at only 0.3x KALYAN JEWELLERS KALYAN JEWELLERS INDIA LIMITED | 33#34India performance India: Q4FY22 Performance Summary Revenue (mn) +47% 16,278 26,149 23,988 • Revenue growth of over 47% when compared to Q4FY20 No. of Showrooms +16% 124 • Underlying strong momentum in the market key to achieving 92% of Q4FY21 revenue despite Omicron wave, extreme volatility in gold prices: base quarter (Q4FY21) was extremely strong with 61% YoY growth • Added three showrooms during the quarter in India; net addition of 17 showrooms during FY22 Expansion across gross profit, EBITDA and PAT margins (YoY) driven by higher share of studded and non-south revenue Q4FY20 Q4FY21 Q4FY22 • Opex firmly under control Gross Profit (mn) 3,483 +5% 3,825 EBITDA (mn) +17% 107 107 Q4FY20 Q4FY21 Q4FY22 PAT (mn) +23% 705 665 1,943 1,882 575 1,608 3,646 KALYAN JEWELLERS Q4FY20 Q4FY21 Q4FY22 Q4FY20 Q4FY21 Q4FY22 Q4FY20 Q4FY21 Q4FY22 KALYAN JEWELLERS INDIA LIMITED | 34#35India performance India: Q4FY22 Performance Summary South Revenue (mn) 10,729 +41% 17,918 15,076 • Q4FY20 Q4FY21 Q4FY22 Gold Revenue (mn) +52% 11,704 19,846 17,750 Q4FY20 Q4FY21 Q4FY22 Revenue growth of over 47% when compared to Q4FY20 • Non-South revenue share at 37.2% compared to 31.5% in Q4FY21 (YoY) and 37.5% in Q3FY22 (QoQ) Studded share at 24.3% compared to 22.3% in Q4FY21 (YoY) and 25.5% (QoQ) Continued traction for the studded collection targeted at first time studded buyers, recently launched sub brand and higher share of revenue from the non- south markets were the key drivers for the studded share Non-South Revenue (* mn) +61% 8,912 8,231 5,549 Q4FY20 Q4FY21 Q4FY22 Studded Revenue (mn) +36% 5,832 5,819 4,271 KALYAN JEWELLERS Q4FY20 Q4FY21 Q4FY22 KALYAN JEWELLERS INDIA LIMITED | 35#36ME performance Middle East: Q4FY22 Performance Summary Revenue (mn) 5,024 (15)% 4,252 4,249 Q4FY20 Q4FY21 Q4FY22 Gross Profit (mn) +14% 655 Consumer sentiments continues to remain robust No. of Showrooms (19)% Revenue back to pre-COVID levels for most of the showrooms: 7 showrooms were closed down in FY21 37 36 30 30 Gross margin stable at 17.5% compared to 17.3% in Q4FY21 (YoY) EBITDA margins down largely due to MTM loss on outstanding derivative contracts PAT positive in both Q4FY21 and Q4FY22 EBITDA (mn) +70% 331 298 744 737 195 Q4FY20 Q4FY21 Q4FY22 PAT (mn) 66 99 43 لله Q4FY20 Q4FY21 Q4FY22 -86 Q4FY20 Q4FY21 Q4FY22 Q4FY20 Q4FY21 Q4FY22 KALYAN JEWELLERS KALYAN JEWELLERS INDIA LIMITED | 36#37Consolidated performance Continued Focus On Strengthening Balance Sheet Note: 1. GML: Gold Metal Loan Net Debt to Equity (x) 1.3 Net Debt to Equity (with GML) Net Debt to Equity (without GML) 0.8 0.8 FY20 FY21 0.3 0.8 FY22 0.3 KALYAN JEWELLERS KALYAN JEWELLERS INDIA LIMITED | 37#38India Performance Q4FY22 India: Income Statement Profit and Loss (mn) Revenue Q4FY22 Q4FY21 YOY 23,988 26,149 (8)% ཅ༠༤༢༠ Gross Profit 3,646 3,825 (5)% Gross Profit Margin 15.2% 14.6% Total Opex 1,764 1,882 (6)% Advertisement & Promotion 452 245 84% Other Opex 1,313 1,636 (20)% EBITDA EBITDA Margin Depreciation EBIT EBIT Margin Finance Cost 1,882 1,943 (3)% 7.8% 7.4% 445 421 6% 1,437 1,522 (6)% 6.0% 5.8% 612 733 (16)% Other Income 137 113 21% Profit before Tax 961 902 7% Profit before Tax Margin 4.0% 3.5% Profit After Tax 705 665 6% Profit After Tax Margin 2.9% 2.5% KALYAN JEWELLERS KALYAN JEWELLERS INDIA LIMITED | 38#39Middle East Performance Q4FY22 ME: Income Statement Profit and Loss (mn) Revenue Q4FY22 Q4FY21 YOY 4,249 4,252 ཅ༠༤༢༠ Gross Profit 744 737 1% Gross Profit Margin 17.5% 17.3% Total Opex 413 439 (6)% Advertisement & Promotion 95 67 41% Other Opex 318 372 (15)% EBITDA EBITDA Margin Depreciation EBIT EBIT Margin Finance Cost 331 298 11% 7.8% 7.0% 130 124 5% 201 173 16% 4.7% 4.1% 185 142 30% Other Income 17 40 (58)% Profit before Tax 33 71 (54)% Profit before Tax Margin 0.8% 1.7% Profit After Tax 43 66 (35)% Profit After Tax Margin 1.0% 1.6% KALYAN JEWELLERS KALYAN JEWELLERS INDIA LIMITED | 39#40Middle East Performance Q4FY22 Consolidated Income Statement Profit and Loss (mn) Revenue Q4FY22 Q4FY21 YOY 28,571 30,566 (7)% ཅ༠༤༢༠ Gross Profit 4,458 4,609 (3)% Gross Profit Margin 15.6% 15.1% Total Opex 2,274 2,332 (3)% Advertisement & Promotion 573 320 79% Other Opex 1,701 2,012 (15)% EBITDA EBITDA Margin Depreciation EBIT EBIT Margin Finance Cost 2,184 2,277 (4)% 7.6% 7.4% 580 549 6% 1,604 1,728 (7)% 5.6% 5.7% 760 866 (12)% Other Income 115 123 (7)% Profit before Tax 959 985 (3)% Profit before Tax Margin 3.4% 3.2% Profit After Tax 720 739 (2)% Profit After Tax Margin 2.5% 2.4% KALYAN JEWELLERS KALYAN JEWELLERS INDIA LIMITED | 40#41Standalone Performance Standalone Income Statement Profit and Loss (mn) Revenue FY22 FY21 YOY 90,561 73,255 24% ཅ༠༤༢༠ Gross Profit 13,868 12,414 12% Gross Profit Margin 15.3% 16.9% Total Opex 6,953 6,167 13% Advertisement & Promotion 1,931 1,175 64% Other Opex 5,022 4,992 1% EBITDA EBITDA Margin Depreciation EBIT EBIT Margin Finance Cost 6,915 6,247 11% 7.6% 8.5% 1,805 1,740 4% 5,110 4,507 13% 5.6% 6.2% 2,636 3,161 (17)% Other Income 424 529 (20)% Profit before Tax 2,899 1,875 55% Profit before Tax Margin 3.2% 2.6% Profit After Tax 2,142 1,382 55% Profit After Tax Margin 2.4% 1.9% KALYAN JEWELLERS KALYAN JEWELLERS INDIA LIMITED | 41#42Consolidated Performance Consolidated Income Statement KALYAN JEWELLERS Profit and Loss (mn) FY22 FY21 YOY Revenue 1,08,179 85,733 26% Gross Profit 16,916 14,592 16% Gross Profit Margin 15.6% 17.0% Total Opex 8,771 8,649 1% Advertisement & Promotion 2,324 1,460 59% Other Opex 6,448 7,189 (10)% EBITDA 8,145 5,943 37% EBITDA Margin 7.5% 6.9% Depreciation EBIT EBIT Margin Finance Cost Other Income Profit before Tax Profit before Tax Margin 2,316 2,249 3% 5,829 3,694 58% 5.4% 4.3% 3,224 3,754 (14)% 383 454 (16)% 2,989 394 659% 2.8% 0.5% Profit After Tax 2,240 (61) NA Profit After Tax Margin 2.1% (0.1)% Note 1: FY21 Opex includes 900 mn of one-time write-offs, losses relating to lease terminations and provisions for impairment largely relating to the impact of COVID in the Middle East business. KALYAN JEWELLERS INDIA LIMITED | 42#43Standalone performance Standalone Balance Sheet Particulars (mn) Equity and Liabilities | Equity (a) Equity Share Capital (b) Other Equity Total Equity Il Liabilities 1 Non-current Liabilities (a) Financial Liabilities (i) Borrowings (ii) Lease Liabilities (b) Provisions Total Non-current Liabilities 2 Current Liabilities (a) Financial Liabilities (i) Borrowings (ii) Metal Gold Loan FY21 FY22 Particulars (mn) Assets KALYAN JEWELLERS FY21 FY22 I Non-current Assets 10,301 10,301 (a) Property, Plant and Equipment 8,287 8,520 19,954 22,335 (b) Capital Work in progress 527 15 30,254 32,636 (c) Right of use Assets 5,338 4,835 (d) Investment Property 611 611 (e) Intangible Assets 73 45 (f) Intangible Assets Under Development 162 (g) Financial Assets 6,044 5,482 (i) Investments 276 270 (ii) Loans 6,482 5,752 (iii) Other Financial Assets (h) Deferred Tax Assets (Net) 15,275 10,030 674 (i) Other Non-current Assets 13,809 (i) Non-current tax assets (net) 10,042 Total Non-current Assets 764 II Current Assets (a) Inventories (iii) Lease Liabilities (iv) Trade Payables Total Outstanding Dues of Micro and Small Enterprises (b) Financial Assets Total Outstanding Dues of Creditors Other than Micro and Small Enterprises 5,581 4,953 (i) Trade Receivables (v) Other Financial Liabilities 685 188 (ii) Cash and Cash Equivalents (b) Provisions (c) Other Current Liabilities (d) Current Tax Liabilities (net) Total Current Liabilities Total liabilities Total Equity and Liabilities (I+11) 94 142 9,391 9,273 (iii) Bank Balances Other than (ii) above (iv) Loans 657 42,388 48,870 (v) Other Financial Assets 39,172 (c) Other Current Assets 44,924 Total Current Assets 79,124 77,559 Total Assets (I+II) 4 4 7,548 7,676 1,127 923 666 416 395 48 582 560 24,308 24,503 43,881 47,457 40 45 3,082 870 5,913 3,748 624 496 344 779 593 54,816 53,057 79,124 77,559 KALYAN JEWELLERS INDIA LIMITED | 43#44Consolidated performance Consolidated Balance Sheet KALYAN JEWELLERS Particulars (mn) FY21 FY22 Particulars (mn) FY21 FY22 Equity and Liabilities Assets I Equity (a) Equity Share Capital (b) Other Equity (c) Non controlling Interest Total Equity Il Liabilities 1 Non-current Liabilities (a) Financial Liabilities (i) Borrowings (ii) Lease Liabilities (b) Provisions Total Non-current Liabilities 2 Current Liabilities (a) Financial Liabilities (i) Borrowings (ii) Metal Gold Loan I Non-current Assets 10,301 17,960 10,301 (a) Property, Plant and Equipment 9,617 9,816 21,070 (b) Capital Work in progress 527 17 5 9 (c) Right of use Assets 8,613 8,667 28,265 31,380 (d) Investment Property 611 611 (e) Goodwill on Consolidation 51 51 (f) Intangible Assets 94 70 (g) Intangible Assets Under Development 4 4 201 243 (h) Financial Assets 6,123 5,667 (i) Investments 6 342 343 (ii) Other Financial Assets 989 734 6,666 6,253 (i) Deferred Tax Assets (Net) 461 450 (i) Other Non-current Assets 582 560 (k) Non-current tax assets (Net) 53 19,399 18,421 Total Non-current Assets 21,549 21,038 14,180 14,968 Il Current Assets (iii) Lease Liabilities 860 994 (a) Inventories 53,031 57,943 (iv) Trade Payables (b) Financial Assets Total Outstanding Dues of Micro and Small Enterprises 1 2 (i) Trade Receivables 1,127 1,195 Total Outstanding Dues of Creditors Other than Micro and Small Enterprises 6,900 6,564 (ii) Cash and Cash Equivalents 3,649 1,490 (v) Other Financial Liabilities 1,274 328 (iii) Bank Balances Other than (ii) above 7,318 6,282 (b) Provisions (c) Other Current Liabilities (d) Current Tax Liabilities (net) Total Current Liabilities Total Equity and Liabilities (I+II) 103 149 (iv) Other Financial Assets 343 305 10,346 10,392 (c) Other Current Assets 1,636 1,199 658 Total Current Assets 67,103 53,720 51,818 Total Assets (I+II) 88,651 68,414 89,451 88,651 89,451 KALYAN JEWELLERS INDIA LIMITED T 44#45KALYAN JEWELLERS For further information, please contact SGA Strategic Growth Advisors CIN: U36911KL2009PLC024641 Tel: +91 487 24 37 333 Fax: +91 487 24 37 334 Email: [email protected] Website: www.kalyanjewellers.net CIN: U74140MH2010PTC204285 Mr. Rahul Agarwal / Mr. Aakash Mehta [email protected]/[email protected] +91 98214 38864 / +91 98706 79263 www.sgapl.net