Thangamayil Jewellery Limited has informed the Exchange regarding Board meeting held on July 28, 2025.
THANGAMAYL · price
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On the reaction day the stock moved 4.0 pts less than Nifty Microcap 250 and 4.1 pts less than its Gems Jewellery And Watches peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Thangamayil Jewellery reported Q1 FY26 results with total revenue rising 27% year-on-year to Rs. 1,556 crores, driven by 28% growth in retail sales to Rs. 1,505 crores and expansion from 58 to 64 outlets, including new Chennai stores. Despite strong top-line growth, profit after tax declined 19% to Rs. 46 crores from Rs. 57 crores, and EBITDA margin contracted by 213 basis points to 5.78%. Management attributed the profit dip to higher advertising and brand-building spend for Chennai expansion (Rs. 17.80 crs), incremental depreciation from capex (Rs. 1.42 crs), and new employee costs (Rs. 1.50 crs). Gold prices surged 28% during the quarter, causing a 4% drop in gold ornament volumes and Same Store Sales Growth slowing to 6.83% from 19.76%. The company maintains strong liquidity with Rs. 400 crores in available funds.
Positive revenue momentum from expansion is being offset by margin pressure and higher costs from the Chennai push, leading to a profit decline that may weigh on near-term sentiment. However, management views current expenses as investments for future growth, and the strong cash position provides flexibility to continue expansion.