TO APPROVE THE AUDITED FINANCIAL RESULTS FOR THE YEAR ENDED 31.03.2026 AND RECOMEND DIVIDEND.
THANGAMAYL · price
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Thangamayil Jewellery reported exceptional full-year results for FY 2025-26 (year ended March 31, 2026). Revenue from operations surged 73% to Rs.8,499 Crs from Rs.4,917 Crs, driven by 107% YoY retail sales growth (Rs.8,159 Crs). Gold jewellery contributed Rs.7,467 Crs and non-gold (silver, diamonds) contributed Rs.692 Crs. Gross profit more than doubled to Rs.919 Crs (11.39% of retail sales vs 9.57% prior year), while EBITDA jumped 156% to Rs.577 Crs. PAT grew 195% to Rs.352 Crs (4.14% net margin vs 2.42% prior year), and EPS rose to Rs.113.14 per share from Rs.42.00. The Board recommended a dividend of Rs.18 per share (180%) totalling Rs.5,595 lakhs, up from Rs.3,885 lakhs in the prior year. An exceptional item of Rs.238 lakhs was recognized due to one-time provision for New Labour Codes. The statutory auditor issued an unmodified (clean) opinion. Pending income tax matters include a Rs.70.17 crs demand (stayed by CBDT review committee as 'high-pitched') and favourable Tribunal orders on Rs.14.49 crs of earlier demands.
Thangamayil delivered outstanding all-round growth with PAT nearly tripling, margin expansion across all levels, and strong operating cash flows. The clean audit opinion and 195% PAT growth signal strong fundamental health. The proposed 180% dividend reflects confidence. However, the recent 150% spike in gold/silver import duty (from 6% to 15%) on May 13, 2026, could moderate demand in FY27, though the company expects inventory gains of ~Rs.60 Crs on existing stock.