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Latest filing: 2026-08-24 12:50
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19 announcements match the current filters (relevance ≥ 5).
Thangamayil expands Chennai presence with 2 new stores, adding 15,016 sq.ft of retail space
Thangamayil Jewellery Limited has inaugurated two new retail showrooms in Chennai at Mogappair West (6,270 sq.ft) and Purasaiwakkam (8,746 sq.ft) on August 23, 2026. This expansion adds 15,016 sq.ft of retail footprint, bringing the company's total operating area across Tamil Nadu to approximately 1,49,000 sq.ft. The brand's operational network now stands at 66+ stores as it executes its planned retail push into the Chennai metro market.
Confidence: HIGH
What changedThangamayil added two new large-format showrooms in Chennai, expanding its total store count to 66+ outlets.
Why it mattersExpanding into Chennai is core to Thangamayil's geographic diversification away from its traditional southern Tamil Nadu base, driving revenue growth and higher-margin diamond/platinum sales.
Mogappair West store area: 6,270 sq.ftPurasaiwakkam store area: 8,746 sq.ftTotal company operating area: approx. 1,49,000 sq.ftTotal store count: 66+ storesStore opening date: 23rd August 2026
📅 Short termInitial revenue uplift from opening offers and festive footfalls in Chennai during the ongoing quarter.
📈 Long termSupports the company's 25% target growth rate by building scale in the competitive Chennai jewellery retail market.
⚠ Risk flags
- Increased working capital requirements and inventory front-loading for large store formats
- Intense retail competition in Chennai metro region
Key Highlights
Inaugurated 2 new retail stores in Chennai on August 23, 2026
Mogappair West store covers 6,270 sq.ft and Purasaiwakkam store covers 8,746 sq.ft
Expansion takes operational network to 66+ stores with approx. 1,49,000 sq.ft total operating area
Offers gold, diamond, and silver jewellery collections targeting bridal, festive, and everyday segments
👀 What to Watch
Track revenue per square foot and working capital turnaround in upcoming quarterly reports to see how quickly the new Chennai stores ramp up to peak sales velocity.
2 New Chennai Store Openings Scheduled for August 23, 2026
Thangamayil Jewellery Limited has announced the opening of two new retail branches in Chennai (Mogappair West and Purasaiwakkam) on August 23, 2026. This move is a key step in the company's strategy to expand its footprint from its traditional Southern Tamil Nadu base into the Chennai metro area, where it targets 10 outlets by late FY26. With 66 existing outlets, these two new stores represent a ~3% increase in total store count. Investors should note that while expansion drives volume, the company recently reported a decline in stock turnaround to 2.84x due to front-loading inventory for new stores.
Confidence: HIGH
What changedThe company is adding two new physical retail locations in the Chennai market, moving closer to its target of 10 metro outlets.
Why it mattersExpanding into the Chennai metro is critical for diversifying beyond Southern Tamil Nadu and increasing the mix of higher-margin non-gold products like diamonds and platinum.
New stores announced: 2Existing store count: 66Store count increase (%): ~3%Inauguration date: 23rd August, 2026Chennai region target: 10 outlets
📅 Short termPositive sentiment expected as the company demonstrates execution of its retail expansion plan in a high-value market.
📈 Long termSuccessful penetration of the Chennai market could structurally improve margins if the company achieves its goal of increasing non-gold product sales to higher than the current 10% revenue share.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- Execution risk in the highly competitive Chennai metro market
- Increased working capital requirements for new store inventory
Key Highlights
2 new branches to be inaugurated in Mogappair West and Purasaiwakkam, Chennai.
Inauguration date is officially set for August 23, 2026.
Expansion adds to the existing network of 66 retail outlets across Tamil Nadu.
Supports the strategic goal of reaching 10 outlets in the Chennai metro region by Q3/Q4 FY26.
👀 What to Watch
Monitor the sales ramp-up and inventory turnover in the next two quarters to ensure the new Chennai stores are reaching peak sales velocity without further straining working capital.
119.55% YoY Sales Growth: Thangamayil Reports Rs 344.16 Cr Revenue in 3-Day Festival Period
Thangamayil Jewellery reported a significant surge in sales during the three-day Aadi Perukku festival (August 1-3, 2026). The company achieved revenue of Rs 344.16 crore, representing a 119.55% YoY growth compared to Rs 156.75 crore in the previous year. This three-day revenue alone accounts for approximately 9.2% of the company's TTM revenue of Rs 3,732 crore. The performance reflects the impact of recent store expansions and strong regional demand in Tamil Nadu.
Confidence: HIGH
What changedThe company reported a sharp spike in festival-driven sales, more than doubling its performance from the previous year's corresponding three-day period.
Why it mattersHigh-velocity sales during regional festivals are critical for jewellery retailers to offset high inventory carrying costs (3-4 months) and improve stock turnaround time, which recently dipped to 2.84x.
Festival Sales (3 days): Rs 344.16 CrYoY Growth: 119.55%Festival Sales vs TTM Revenue: ~9.2%Previous Year Festival Sales: Rs 156.75 CrCurrent Store Count: 66 outlets
📅 Short termPositive sentiment is expected as the strong growth figure indicates robust consumer demand and successful integration of newly opened stores.
📈 Long termSupports the company's 25% growth target and aggressive retail footprint expansion strategy, particularly in the Chennai metro area, though high valuation remains a factor.
⚠ Risk flags
- High inventory carrying costs (3-4 months)
- Sensitivity to gold price fluctuations
- High P/E valuation of 463.4
Key Highlights
Achieved sales revenue of Rs 344.16 crore during the three-day Aadi Perukku festival (Aug 1-3, 2026)
Recorded a year-on-year (YoY) growth of 119.55% over the previous year's Rs 156.75 crore for the same period
Three-day sales represent ~9.2% of the total TTM revenue of Rs 3,732 crore
Performance follows the recent addition of 9 new retail outlets, bringing the total to 66 stores
👀 What to Watch
Monitor if this sales momentum translates into improved margins in the upcoming quarterly results, especially given the company's shift toward higher-margin non-gold products. Watch for the execution of the Chennai metro expansion plan targeting 10 outlets by late FY26.
₹352 Cr PAT: Thangamayil Reports 196% Profit Growth and Confirms ₹18 Dividend
Thangamayil Jewellery reported exceptional FY26 performance at its 26th AGM, with revenue surging 73% to ₹8,499 crore and PAT rising 196% to ₹352 crore. Shareholders approved a dividend of ₹18 per share (180% of face value). The company is successfully pivoting to urban markets, with Chennai now contributing over 20% of annualized turnover. Management reiterated a long-term goal of reaching 100 stores by 2030, supported by 9 new showroom openings planned for FY27.
Confidence: HIGH
What changedThe company has formally reported a massive scale-up in FY26 financials and confirmed its aggressive expansion strategy into the Chennai metro area.
Why it mattersThe shift from a rural-focused Madurai brand to a statewide player with a strong Chennai presence is driving higher margins and significant revenue growth, validating the current business model.
FY26 Revenue: ₹8,499 croreFY26 PAT: ₹352 croreDividend per share: ₹18Working Capital (March 2026): ₹597 croreOld Jewellery Exchange Share: 50-60%
📅 Short termThe stock is likely to react positively to the strong profit growth and the confirmation of a healthy dividend payout.
📈 Long termThe structural shift toward urban markets and non-gold products (diamonds/platinum) combined with a 100-store target by 2030 suggests a long-term growth trajectory.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- Gold import duty increase to 15% may impact demand
- High inventory requirements (3-4 months) expose the company to gold price volatility
- Execution risk in the competitive Chennai market
Key Highlights
Revenue increased by 73% YoY to ₹8,499 crore for the year ended March 31, 2026
Profit After Tax (PAT) grew by 196% to ₹352 crore, significantly outpacing revenue growth
Dividend of ₹18 per equity share (180% on face value of ₹10) approved by shareholders
Chennai expansion now contributes over 20% of turnover, with urban share rising to 42%
Targeting 100 stores by 2030, with 9 new showrooms planned for the upcoming financial year
👀 What to Watch
Watch for the execution of the 9-store expansion in the Chennai region and the impact of the gold import duty hike (from 6% to 15%) on near-term consumer demand.
71% YoY Revenue Growth in Q1 FY27; EPS Rises 86% to ₹27.38
Thangamayil Jewellery reported a strong YoY performance for Q1 FY27, with revenue surging 71% to ₹2,662 Cr compared to ₹1,555 Cr in Q1 FY26. Net profit for the quarter rose 85% YoY to ₹85 Cr, although it saw a sequential (QoQ) decline of 40% from ₹142 Cr in Q4 FY26 due to margin compression. Gross profit margins contracted by 158 basis points sequentially to 9.81%, impacted by gold price volatility and a shift in consumer behavior following import duty changes. The company is aggressively expanding its retail footprint, specifically targeting the Chennai metro area with six new outlets scheduled for the first half of FY27.
Confidence: HIGH
What changedThe company has significantly scaled its operations YoY, driven by retail expansion and higher gold volumes, while simultaneously transitioning its product mix toward higher-margin non-gold items.
Why it mattersThe aggressive entry into the Chennai market (traditionally a stronghold of competitors) and the improvement in non-gold sales composition are critical for sustaining long-term ROE and diversifying revenue away from pure gold price fluctuations.
Q1 Revenue: ₹2,662 CrQ1 PAT: ₹85 CrGross Profit Margin: 9.81%Gold Volume Growth (YoY): 9%Diamond Volume Growth (YoY): 23%Liquidity Position: ₹389 Cr
📅 Short termThe stock may react positively to the strong YoY growth and clear expansion roadmap, though the sequential margin drop and management's note on sluggish sales in early Q2 warrant caution.
📈 Long termThe structural shift to the Chennai market and increasing focus on high-margin diamond/platinum segments (targeting 29% margins) could lead to a significant re-rating if execution targets are met.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- High inventory sensitivity to gold price fluctuations
- Sequential margin volatility
- Sluggish sales reported in the first 28 days of Q2 FY27
Key Highlights
Revenue increased 71% YoY to ₹2,662 Cr, representing approximately 71% of the total TTM revenue in a single quarter.
Net Profit (PAT) grew 85% YoY to ₹85 Cr, despite a 40.3% sequential decline from the previous quarter.
Non-gold sales (Diamond, Silver, etc.) composition improved by 105 BPS YoY to reach 9.69% of total sales.
Inventory profit of ₹31 Cr was realized during the quarter, accounting for 13% of the reported Gross Profit.
Aggressive Chennai expansion underway with 2 stores opened in June 2026 and 4 more slated for opening by September 13, 2026.
👀 What to Watch
Investors should monitor the sales velocity and margin contribution from the 6 new Chennai outlets as they reach peak capacity. Additionally, watch for the recovery of 'postponed demand' in H2 FY27, which management expects as gold prices and geopolitical situations stabilize.
71% Revenue Growth to ₹2,662 Cr; 6 New Chennai Outlets to Drive Expansion
Thangamayil Jewellery reported a robust 71% YoY revenue growth to ₹2,662 Cr for Q1 FY27, with PAT rising 85% to ₹85 Cr. The performance was bolstered by a 9% increase in gold volumes and a 105 BPS improvement in non-gold sales composition to 9.69%. The company is executing an aggressive expansion in Chennai, with 6 outlets slated to be operational by mid-September 2026. While QoQ margins saw some pressure due to import duty changes, the overall liquidity remains strong at ₹389 Cr.
Confidence: HIGH
What changedSignificant scale-up in quarterly revenue and accelerated retail footprint expansion into the high-value Chennai metro market.
Why it mattersThe expansion into Chennai marks a strategic shift from the company's traditional Southern Tamil Nadu base, aiming to capture higher-margin urban demand and significantly increase total volume.
Q1 Revenue: ₹2,662 CrQ1 PAT: ₹85 CrRevenue vs TTM Revenue: 71.3%New Chennai Outlets: 6Total Liquidity: ₹389 Cr
📅 Short termStrong YoY growth figures are likely to support positive sentiment, though management noted a sluggish start to Q2 due to gold price uncertainty.
📈 Long termThe structural shift toward non-gold products (diamonds/platinum) and successful penetration of the Chennai market could lead to a long-term re-rating of the business.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- High inventory requirements for new stores
- Gold price volatility impacting consumer demand
- Execution risk in the competitive Chennai market
Key Highlights
Revenue surged 71% YoY to ₹2,662 Cr, representing approximately 71.3% of the entire FY25 TTM revenue in a single quarter.
Net Profit (PAT) increased 85% YoY to ₹85 Cr from ₹46 Cr in the previous year's quarter.
Non-gold sales (Diamond/Silver) composition improved to 9.69% of total sales, targeting higher-margin segments.
Aggressive Chennai expansion with 2 outlets opened in June 2026 and 4 more scheduled by September 13, 2026.
Gold hedging remains high at 96% to mitigate price volatility risks.
👀 What to Watch
Monitor the sales velocity and margin contribution from the 6 new Chennai outlets in the upcoming Q2 and Q3 results to validate the success of the geographic expansion strategy.
₹8,499 Cr FY26 Revenue: Thangamayil Reports 73% Top-line Growth and 196% PAT Surge
Thangamayil Jewellery Limited delivered a robust performance for FY26, with revenue jumping 73% to ₹8,499.33 Cr from ₹4,910.58 Cr in FY25. Profit After Tax (PAT) saw a massive 196% increase, reaching ₹351.65 Cr compared to ₹118.71 Cr in the previous year. The company achieved a remarkable Same Store Sales (SSS) growth of 38.18%, significantly higher than the 18.10% recorded in FY25. The Board has scheduled the 26th Annual General Meeting for July 29, 2026, to discuss these results and future expansion plans.
Confidence: HIGH
What changedThe release of the Integrated Annual Report for FY26 confirms a significant scale-up in operations and profitability compared to the previous fiscal year.
Why it mattersThe sharp growth in revenue and margins, alongside a shift toward high-margin non-gold products (₹692 Cr), validates the company's aggressive retail expansion and product mix strategy.
FY26 Revenue: ₹8,499.33 CrFY26 PAT: ₹351.65 CrSame Store Sales Growth: 38.18%Dividend Declared: ₹55.95 CrNet Worth: ₹1,416.00 CrRevenue Growth vs FY25: 73.08%
📅 Short termThe stock is likely to react positively to the strong audited full-year growth figures and the substantial improvement in return on equity (ROE) to 27.93%.
📈 Long termThe company's focus on the Chennai metro (targeting 10 outlets) and increasing non-gold sales (currently ~8% of revenue) provides a structural path for margin expansion beyond traditional gold retailing.
⚠ Risk flags
🔬 Flagged for deeper Multibagger analysis — view briefs →
- High inventory carrying period (3-4 months)
- Increased total liabilities to ₹2,274.66 Cr
- Sensitivity to sharp gold price fluctuations
Key Highlights
Revenue from operations increased by 73% YoY to ₹8,499.33 Cr in FY26
Profit After Tax (PAT) surged 196% to ₹351.65 Cr from ₹118.71 Cr in FY25
Same Store Sales (SSS) growth accelerated to 38.18% for the fiscal year
Non-gold sales composition grew to ₹692.53 Cr, up from ₹375.61 Cr in the previous year
Gold volume sales reached 6,554 KG, a 12.3% increase over FY25's 5,836 KG
👀 What to Watch
Monitor the upcoming AGM on July 29, 2026, for management updates on the Chennai metro expansion strategy and the sustainability of the 38% SSS growth in a volatile gold price environment.
Rs 18 Dividend and Rs 495.6 Cr Public Deposit Limit Proposed in AGM Notice
Thangamayil Jewellery has scheduled its 26th Annual General Meeting (AGM) for July 29, 2026. The company has proposed a final dividend of Rs 18 per share (180%) for FY 2025-26. Key agenda items include seeking shareholder approval to raise up to Rs 495.60 Cr through public and shareholder deposits to fund working capital. Additionally, significant remuneration hikes are proposed for four related-party executives, including a 176% increase for the CFO.
Confidence: HIGH
What changedThe company has formalized its dividend payout for the year and is seeking to reset its borrowing limits via public deposits for FY 2026-27.
Why it mattersPublic deposits are a critical, lower-cost source of working capital for retail jewelers compared to bank debt; the proposed limit is substantial relative to the company's Rs 1,416 Cr net worth.
Proposed Dividend: Rs 18 per shareTotal Deposit Limit: Rs 495.60 CrDeposit Limit vs Net Worth: ~35%CFO Remuneration Increase: 176.6%AGM Date: July 29, 2026
📅 Short termThe stock may see minor interest leading up to the July 22 record date for the Rs 18 dividend.
📈 Long termThe ability to mobilize nearly Rs 500 Cr in deposits is vital for the company's plan to expand its retail footprint to 10 outlets in the Chennai region by late FY26.
⚠ Risk flags
- Significant related-party remuneration hikes
- High reliance on public deposits for working capital
- Inventory valuation risks due to gold price volatility
Key Highlights
Proposed final dividend of Rs 18 per equity share for the financial year ended March 31, 2026
Seeking approval for public deposit limits up to Rs 495.60 Cr, representing approximately 35% of the company's Net Worth
Proposed revision of CFO B. Rajesh Kanna's monthly remuneration from Rs 3,00,000 to Rs 8,30,000
Proposed revision of GM - Diamond and People Care P. Shylaja's monthly remuneration from Rs 2,25,000 to Rs 6,20,000
AGM to be held on July 29, 2026, with the e-voting cut-off date set for July 22, 2026
👀 What to Watch
Investors should monitor the voting results of the AGM, specifically the approval of related-party remuneration and the management's plan for utilizing the Rs 495.6 Cr deposit limit to support their Chennai expansion strategy.
ICRA Reaffirms [ICRA]A+ Rating; Enhances Working Capital Limits to Rs 1,412 Cr
ICRA has reaffirmed Thangamayil Jewellery's credit rating for its Fixed Deposit programme at [ICRA]A+ (Stable). Crucially, the rating agency has also reaffirmed and assigned ratings for an enhanced working capital limit of Rs 1,412 crore, up from previous levels. This total rated debt of ~Rs 1,507 crore provides the necessary liquidity to support the company's aggressive retail expansion, particularly its target of 10 outlets in the Chennai metro by FY26. The stable outlook reflects the company's strong regional brand and healthy ROCE of 25.0%.
Confidence: HIGH
What changedICRA reaffirmed the company's credit ratings and assigned ratings to an increased working capital limit of Rs 1,412 crore to support business growth.
Why it mattersJewellery retail is highly working-capital intensive due to inventory needs; securing higher credit limits at stable ratings is essential for the company's plan to grow its store count and shift toward higher-margin diamond/platinum products.
Enhanced Working Capital Limit: Rs 1,412.00 CrWC Limit vs TTM Revenue: ~37.8%WC Limit vs Net Worth: ~99.7%Fixed Deposit Programme: Rs 95.00 CrProposed/Untied Facilities: Rs 125.00 Cr
📅 Short termThe reaffirmation of a stable rating and enhancement of limits should be viewed positively by the market as it ensures liquidity for upcoming seasonal demand and store launches.
📈 Long termSupports the company's long-term goal of 25% growth by providing the financial headroom to stock new stores in competitive markets like Chennai.
⚠ Risk flags
- High dependence on working capital loans
- Inventory price risk from gold price fluctuations
- Recent decline in stock turnaround time to 2.84x
Key Highlights
Working capital facilities enhanced to Rs 1,412 crore, representing approximately 38% of TTM revenue
Fixed Deposit programme of Rs 95 crore reaffirmed at [ICRA]A+ (Stable)
Short-term rating for working capital facilities assigned/reaffirmed at [ICRA]A1
Includes a Rs 125 crore proposed/untied facility for future expansion requirements
Banking consortium includes major lenders like HDFC Bank (Rs 372 Cr) and Federal Bank (Rs 225 Cr)
👀 What to Watch
Monitor the utilization of these enhanced limits against the execution of the Chennai expansion strategy. Investors should also track if the increased debt levels impact the current Debt/Equity ratio of 0.64 or lead to higher interest costs.
Thangamayil Jewellery to Open 2 New Branches in Chennai on June 7, 2026
Thangamayil Jewellery Limited has announced the opening of two new retail branches in Chennai, specifically in Neelankarai and Pallavaram. The inaugurations are scheduled for June 7, 2026, marking a strategic expansion in the Tamil Nadu market. This move is part of the company's ongoing efforts to increase its retail footprint and capture a larger market share in the jewellery segment. Investors should note the company's focus on regional expansion within its core geography to drive revenue growth.
Key Highlights
Opening of 2 new retail branches in Chennai, Tamil Nadu.
Specific locations identified as Neelankarai and Pallavaram.
Inauguration scheduled for June 7, 2026 (Sunday).
Strategic expansion to strengthen presence in the high-demand Chennai market.
👀 What to Watch
Monitor the company's revenue growth and operating margins in upcoming quarterly reports to assess the success of these new locations. The expansion indicates management's confidence in regional demand and long-term growth.
Thangamayil Jewellery Recommends ₹18 Final Dividend; Sets July 22 as Record Date
Thangamayil Jewellery Limited has recommended a final dividend of ₹18 per equity share for the financial year ended March 31, 2026. The company has fixed July 22, 2026, as the record date to determine shareholder eligibility for this payout. This dividend represents a 180% return on the face value of ₹10 per share. The proposal is subject to shareholder approval at the Annual General Meeting scheduled for July 29, 2026.
Key Highlights
Final dividend recommended at ₹18 per equity share of ₹10 face value (180%).
Record date for dividend and AGM eligibility fixed as July 22, 2026.
Annual General Meeting (AGM) scheduled for July 29, 2026, in Madurai.
Book closure period set from July 23, 2026, to July 29, 2026, inclusive.
👀 What to Watch
Investors seeking dividend income should ensure they hold the shares prior to the ex-dividend date to qualify for the ₹18 per share payout. The 180% dividend payout indicates healthy cash flow and management's commitment to rewarding shareholders.
Thangamayil Jewellery FY26 PAT Jumps 195% to ₹352 Cr; Recommends ₹18 Final Dividend
Thangamayil Jewellery reported a stellar performance for the financial year ended March 31, 2026, with total revenue growing 73% YoY to ₹8,499 crore. Net profit surged by 195% to ₹352 crore, driven by robust retail sales growth and significant margin expansion. The company expanded its retail footprint to 66 outlets and achieved a remarkable Same Store Sales Growth (SSSG) of 38.18%. Reflecting this strong performance, the board has recommended a final dividend of ₹18 per share (180% of face value).
Key Highlights
Revenue from operations increased 73% YoY to ₹8,499 crore for FY26.
Net Profit (PAT) witnessed a massive 195% growth, reaching ₹352 crore compared to ₹119 crore in FY25.
EBITDA margins improved significantly to 6.79% from 4.58% in the previous year.
The Board recommended a final dividend of ₹18 per equity share (180% payout) for FY26.
Same Store Sales Growth (SSSG) stood at 38.18%, more than doubling from 18.10% in the prior year.
👀 What to Watch
Investors should view these results positively as the company demonstrates strong operational leverage and aggressive growth in the retail segment. The significant jump in EPS to ₹113.14 and the healthy dividend payout suggest strong fundamental value, though monitoring the impact of gold price volatility on future margins is advised.
Thangamayil Jewellery FY26 PAT Surges 195% to ₹352 Cr; ₹18 Final Dividend Declared
Thangamayil Jewellery reported an exceptional financial performance for FY26, with total revenue growing 73% YoY to ₹8,499 crore. Net profit witnessed a massive jump of 195%, reaching ₹352 crore compared to ₹119 crore in the previous year, while EPS rose to ₹113.14. The Board has recommended a final dividend of ₹18 per share (180%), reflecting strong cash flow and profitability. Operational efficiency improved significantly, with EBITDA margins expanding to 6.79% and Same Store Sales (SSS) growth reaching 38.18%.
Key Highlights
FY26 Revenue grew 73% YoY to ₹8,499 crore, with Q4 retail sales alone surging 107% YoY.
Profit After Tax (PAT) skyrocketed 195% YoY to ₹352 crore for the full year.
Board recommended a final dividend of ₹18 per equity share of ₹10 each.
EBITDA margins for FY26 improved to 6.79% from 4.58% in the previous fiscal year.
Retail network expanded to 66 outlets with a robust Same Store Sales growth of 38.18%.
👀 What to Watch
The company's massive growth in both top-line and bottom-line, coupled with significant margin expansion, makes it a standout performer in the jewellery sector. Investors should maintain a positive outlook while monitoring the sustainability of high margins and gold price volatility.
Thangamayil Jewellery FY26 PAT Surges 195% to ₹352 Cr; Declares ₹18 Dividend
Thangamayil Jewellery reported a stellar performance for FY26, with total sales growing 73% YoY to ₹8,499 crore. Net profit witnessed a massive jump of 195%, reaching ₹352 crore, driven by strong retail sales and significant margin expansion. The company successfully expanded its retail footprint to 66 stores and achieved an impressive Same Store Sales (SSS) growth of 38.18%. Reflecting this strong performance, the Board has recommended a final dividend of ₹18 per share.
Key Highlights
Total Revenue for FY26 increased by 73% YoY to ₹8,499 crore from ₹4,917 crore.
Profit After Tax (PAT) skyrocketed by 195% to ₹352 crore compared to ₹119 crore in FY25.
EBITDA margins improved significantly to 6.79% from 4.58% YoY, driven by better product mix and management.
Same Store Sales (SSS) growth stood at 38.18% for the 12 months ended March 31, 2026.
Board recommended a final dividend of ₹18 per equity share (180% of face value) for FY26.
👀 What to Watch
The company is demonstrating exceptional growth and operational efficiency; investors should consider this a strong 'Hold' or 'Buy' signal given the robust SSS growth and margin improvements.
Thangamayil Jewellery Reports 76% YoY Revenue Growth in Akshaya Tritiya Sales
Thangamayil Jewellery Limited reported a significant 75.87% YoY increase in revenue during the Akshaya Tritiya period, reaching Rs. 279.27 Crores. Despite a sharp 59% rise in gold prices, the company managed to achieve a 15.14% growth in gold volume, selling 183.20 kg. Non-gold segments also performed strongly, with revenue rising 61% to Rs. 17.99 Crores. This performance indicates strong consumer demand and effective price pass-through despite inflationary pressures in the bullion market.
Key Highlights
Total Akshaya Tritiya revenue surged 75.87% YoY to Rs. 279.27 Crores.
Gold sales volume increased by 15.14% to 183.20 kg despite a 59% jump in gold prices.
Non-gold revenue grew by 61% YoY, reaching Rs. 17.99 Crores.
Incremental revenue growth of Rs. 120.47 Crores compared to the previous year's festive period.
👀 What to Watch
Investors should view this as a sign of strong brand resilience and market share gains. Monitor if this volume growth translates into sustained margin expansion in upcoming quarterly results.
Thangamayil Jewellery Q3 PAT Surges 119% to ₹105 Cr; Revenue Up 112% YoY
Thangamayil Jewellery reported a stellar Q3 FY26 performance with revenue doubling to ₹2,401 crore and PAT jumping 119% YoY to ₹105 crore. The company achieved record 9-month revenue of ₹5,661 crore, a 60% increase, supported by strong volume growth in gold (9%) and silver (24%). A significant positive development is the stay on a ₹70.18 crore tax demand, which was labeled 'high pitched' by the CBDT review committee. Despite gold price volatility, the company maintains a strong liquidity position of ₹311 crore and a robust hedging strategy.
Key Highlights
Q3 Revenue grew 112% YoY to ₹2,401 crore, while 9-month PAT surged 140% to ₹209 crore
Volume growth for the 9-month period stood at 9% for gold, 24% for silver, and 28% for diamonds
Customer advance base, including Digi Gold, increased by 108% to 13.32 lakhs in the first nine months
EBITDA margin for the 9-month period improved to 6.39% from 4.73% in the previous year
Income tax demand of ₹70.18 crore for FY 22-23 has been kept in abeyance following a favorable review committee report
👀 What to Watch
Investors should take note of the strong volume growth and significant margin expansion despite rising gold prices. The favorable stance by the tax review committee reduces a major contingent liability risk, making the stock's outlook positive.
Thangamayil Jewellery Q3 PAT Surges 119% YoY to ₹105 Cr; Revenue Up 112%
Thangamayil Jewellery reported a stellar Q3 FY26 with revenue doubling to ₹2,401 crore, driven by both price appreciation and strong volume growth in gold (+32%) and silver (+41%). Net profit for the quarter jumped 119% YoY to ₹105 crore, while the 9-month PAT reached ₹209 crore, marking a 140% increase. Despite a slight contraction in EBITDA margins to 7.08% due to festival offers, the company maintained a strong liquidity position of ₹311 crore. Management has temporarily deferred the next phase of metro expansion by one quarter to navigate current gold price volatility.
Key Highlights
Q3 FY26 Revenue grew 112% YoY to ₹2,401 crore, with 9-month revenue hitting an all-time high of ₹5,661 crore.
Profit After Tax (PAT) for the quarter surged 119% to ₹105 crore from ₹48 crore in the previous year.
Volume growth was robust across segments in Q3: Gold (+32%), Silver (+41%), and Diamonds (+46%).
Customer advance base, including Digi Gold schemes, increased 108% YoY to 13.32 lakh customers.
Recognized a one-time exceptional expense of ₹2.38 crore related to provisions for the New Labour Codes.
👀 What to Watch
Investors should view the strong volume growth and doubling of profits as a sign of successful market penetration in Tamil Nadu. While gold price volatility is a watchpoint, the company's disciplined hedging and growing customer advance base provide a solid cushion for future growth.
Thangamayil Jewellery Q3 PAT Jumps 119% to ₹105 Cr; Revenue Doubles to ₹2,401 Cr
Thangamayil Jewellery reported exceptional Q3 FY26 results with revenue growing 112% YoY to ₹2,401 crore and PAT rising 119% to ₹105 crore. The company achieved significant volume growth in Gold (32%), Silver (41%), and Diamonds (46%) despite rising metal prices. 9M FY26 revenue hit an all-time high of ₹5,661 crore, supported by a 108% increase in the customer advance base. Management has temporarily deferred further metro expansions by one quarter to navigate price volatility but remains confident in long-term growth.
Key Highlights
Q3 FY26 Revenue surged 112% YoY to ₹2,401 crore with PAT increasing 119% to ₹105 crore.
Gold volume sales grew 32% YoY to 1,743 Kgs, while Silver and Diamond volumes rose 41% and 46% respectively.
9M FY26 revenue reached an all-time high of ₹5,661 crore, a 60% increase over the previous year.
Customer advance base including Digi Gold schemes grew by 108% to 13.32 lakhs as of December 2025.
Company recognized a one-time exceptional expense of ₹2.38 crore for New Labour Code provisions.
👀 What to Watch
The company demonstrates strong operational leverage and robust volume growth across all segments. Investors should maintain a positive outlook while monitoring the impact of gold price volatility on future margins and the resumption of metro-based expansion.
Thangamayil Jewellery Opens New Branch in Chengalpattu, Tamil Nadu
Thangamayil Jewellery Limited (TMJL) has announced the opening of a new branch in Chengalpattu, Tamil Nadu on December 14, 2025. This expansion indicates a continued growth strategy for the company. Investors should monitor the performance of this new branch and its contribution to overall revenue in future quarterly reports. This expansion could lead to increased sales and market presence in the region.
Key Highlights
New branch opened in Chengalpattu, Tamil Nadu on December 14, 2025
Company is Thangamayil Jewellery Limited
Branch opening announced on December 15, 2025
👀 What to Watch
Investors should monitor the sales performance of the new Chengalpattu branch in upcoming quarterly reports. Keep an eye on the company's overall expansion strategy and its impact on revenue growth.
