Within a fortnight, Kalyan Jewellers lost ₹27,400 crore from its market capitalization, setting alarm bells ringing among investors. In the company’s share price, the downfall was of 20% in a week. The company witnessed an erosion in market value amounting to ₹30,000 crore. This article examines the reasons for the downturn, reviews the company’s financial health, including key metrics like net profit margin, return on equity (ROE), and return on capital employed (ROCE), and assesses debt levels using data from Moneycontrol, Simply Wall St, and Alpha Spread. Additionally, the article evaluates bankruptcy risks, referencing the Altman Z-Score of 5.02, which indicates financial stability, and provides investment insights for stakeholders.