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THANGAMAYLNSEThangamayil Jewellery Limited· Consumer DurablesHighNeutral
Announced Mon, 28 Jul, 2025 · 15:24 IST

Thangamayil Jewellery Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2025.

Revenue growth above 20%EBITDA margin compressionResults View source PDFExplain this filing

THANGAMAYL · price

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▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.

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₹1848.00
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Nifty Microcap 250market · index membership as recorded later (tracked since Jun 2026)-1.2%-4.0% vs market
Gems Jewellery And Watches peers, median of 23sector-1.1%-4.1% vs sector

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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AI summary

Thangamayil Jewellery reported Q1 FY26 total income from operations of Rs. 1,55,786 lakhs, up about 27.6% year-on-year from Rs. 1,22,033 lakhs, driven by a 28% jump in retail sales to Rs. 1,505 Crs (helped by expansion into Chennai and a 28% rise in gold prices). However, profitability weakened — Profit After Tax fell around 19% YoY to Rs. 46 Crs (from Rs. 57 Crs), while EBITDA margin on retail sales compressed sharply by 213 basis points to 5.78% (from 7.91%), and EBITDA in absolute terms dipped 5% to Rs. 87 Crs. Gross profit, however, grew 29% to Rs. 167 Crs with margin holding steady at 11.10%. EPS stood at Rs. 14.71 on the enlarged post-rights issue capital of Rs. 31.08 Crs (vs Rs. 20.61 YoY on lower capital). The company attributes the profit dip to higher promotional and brand-building spends for Chennai entry, incremental depreciation from capex, and new staff costs for upcoming outlets. Gold ornament volumes slipped 4% YoY due to steep gold price inflation, and same-store sales growth slowed to 6.83% (from 19.76%). The store count expanded to 64 (from 58), and liquid funds strengthened to Rs. 400 Crs.

Likely market impact

Strong top-line growth is positive, but the sharp drop in PAT and EBITDA margin compression are negatives that may pressure the stock in the near term. Management frames the profit decline as a deliberate, one-time investment in expansion rather than a structural issue, so investors should track Chennai outlet performance, volume recovery as gold prices stabilise, and any further margin guidance in coming quarters.