Thangamayil Jewellery Ltd.
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ABOUT
KEY POINTS
Revenue Breakup Mar 2026 • Gold, Silver, Diamond & Platinum: 100.0%
AI Sector View
AI GENERATEDConsumer Durables
Urban discretionary demand is mixed but investable. Credit card transactions rose 27.0% YoY (2026-06), urban CMIE sentiment was 109.5 (2026-07), and consumer spending remained large at INR 44743 billion (Jun/26), even though formal consumer confidence fell to 88.3 points (Jul/26) and debit card transactions were -9.0% YoY (2026-06). Heavy sector inflows of INR 13175 crore over 3 months to 2026-08-31 indicate strong investor positioning behind the theme.
PROS
- Company has delivered good profit growth of 32.4% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 23.6%
- Company has a healthy return on capital (ROCE) of 20.8%
- Latest quarter profit grew 86.2% YoY, showing strong momentum
- Company has delivered good sales growth of 36.1% CAGR over last 5 years
CONS
- Receivables are growing faster than sales - a possible quality concern
- Promoter holding has decreased over last 2 years: -5.7pp
- Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT 0.39x)
- Stock is trading at 7.5x its book value
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
| Name | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|
| TITAN | 4989.80 | 76.91 | 442987.54 | 0.30 | 1777.00 | 62.88 | 21356.00 | 44.16 | 21.90 | 13.54 |
| KALYANKJIL | 608.00 | 43.76 | 62791.26 | 0.41 | 348.67 | 32.03 | 10588.93 | 45.68 | 24.86 | 5.97 |
| LALITHAA | 334.70 | 18.55 | 18733.49 | 0.00 | — | — | — | — | 43.11 | — |
| THANGAMAYL | 5114.40 | 40.65 | 15896.59 | 0.35 | 85.09 | 86.15 | 2666.38 | 71.44 | 26.62 | 5.43 |
| PCJEWELLER | 13.88 | 17.47 | 13535.96 | 0.00 | 221.88 | 37.02 | 877.04 | 20.99 | 9.68 | 27.54 |
| BLUESTONE | 872.05 | 236.57 | 13323.07 | 0.00 | 59.61 | 271.56 | 7368.46 | 1395.59 | 9.24 | 14.50 |
| SKYGOLD | 832.75 | 38.50 | 12897.12 | 0.00 | 104.90 | 140.67 | 2012.79 | 77.93 | 27.61 | 7.79 |
| AUGMONT | 897.00 | 24.55 | 8196.20 | 0.00 | — | — | — | — | 70.86 | — |
| SENCO | 355.60 | 10.21 | 5828.32 | 0.49 | 1011.43 | 866.46 | 30560.27 | 1573.37 | 22.86 | 6.97 |
| GOLDIAM | 329.75 | 23.54 | 4964.62 | 0.63 | 73.97 | 120.06 | 326.03 | 41.92 | 24.85 | 20.33 |
| VAIBHAVGBL | 214.80 | 12.65 | 3603.69 | 2.79 | 563.83 | 1398.27 | 9170.73 | 1026.99 | 18.41 | 10.55 |
| TBZ | 523.65 | 16.35 | 3494.35 | 0.48 | 33.92 | 50.76 | 840.97 | 34.78 | 23.29 | 8.60 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 959 | 992 | 895 | 981 | 1,220 | 1,178 | 1,132 | 1,380 | 1,555 | 1,705 | 2,401 | 2,838 | 2,666 | |
| 868 | 969 | 845 | 933 | 1,130 | 1,188 | 1,049 | 1,323 | 1,471 | 1,605 | 2,234 | 2,625 | 2,551 | |
| Operating Profit | 91 | 23 | 50 | 48 | 90 | -10 | 82 | 57 | 84 | 99 | 168 | 213 | 116 |
| OPM % | 9.51% | 2.33% | 5.56% | 4.92% | 7.36% | -0.88% | 7.28% | 4.14% | 5.43% | 5.83% | 6.98% | 7.52% | 4.33% |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -2 | 0 | 0 | |
| Interest | 10 | 9 | 9 | 9 | 9 | 11 | 10 | 11 | 15 | 16 | 16 | 20 | 18 |
| Depreciation | 3 | 4 | 4 | 5 | 5 | 6 | 5 | 7 | 7 | 11 | 11 | 12 | 11 |
| Profit before Tax | 79 | 12 | 38 | 36 | 77 | -24 | 67 | 39 | 65 | 78 | 143 | 182 | 116 |
| Tax % | 25.83% | 31.57% | 25.83% | 21.66% | 26.73% | 25.93% | 28.55% | 19.13% | 29.82% | 25.36% | 26.80% | 21.71% | 26.33% |
| Net Profit | 59 | 8 | 28 | 28 | 57 | -17 | 48 | 31 | 46 | 59 | 105 | 143 | 85 |
| 21.36 | 3.06 | 10.21 | 10.29 | 20.61 | -6.36 | 17.56 | 10.18 | 14.71 | 18.82 | 33.71 | 45.89 | 27.38 |
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1,294 | 1,377 | 1,443 | 1,692 | 1,819 | 2,193 | 3,153 | 3,827 | 4,911 | 8,499 | 9,610 | |
| 1,245 | 1,318 | 1,373 | 1,594 | 1,678 | 2,107 | 3,000 | 3,614 | 4,692 | 7,935 | 9,015 | |
| Operating Profit | 48 | 59 | 71 | 98 | 141 | 86 | 153 | 212 | 219 | 565 | 596 |
| OPM % | 3.74% | 4.31% | 4.89% | 5.78% | 7.75% | 3.93% | 4.85% | 5.55% | 4.46% | 6.64% | 6.20% |
| 1 | 2 | 3 | 3 | 8 | 2 | 3 | 5 | 6 | 12 | -2 | |
| Interest | 21 | 19 | 20 | 21 | 23 | 26 | 35 | 36 | 41 | 68 | 70 |
| Depreciation | 9 | 8 | 8 | 10 | 9 | 10 | 13 | 16 | 24 | 40 | 45 |
| Profit before Tax | 19 | 34 | 46 | 69 | 117 | 52 | 108 | 165 | 160 | 469 | 519 |
| Tax % | 27.60% | 32.60% | 33.56% | 34.23% | 25.98% | 25.93% | 26.12% | 25.35% | 25.77% | 25.00% | 24.69% |
| Net Profit | 14 | 23 | 30 | 46 | 87 | 39 | 80 | 123 | 119 | 352 | 391 |
| EPS | 0.00 | 0.00 | 0.00 | 0.00 | 63.11 | 28.09 | 29.06 | 44.91 | 38.20 | 113.14 | — |
| Dividend Payout % | 19.63% | 20.99% | 22.67% | 15.03% | 15.85% | 35.60% | 20.64% | 22.27% | 32.73% | 15.91% | — |
COMPOUNDED SALES GROWTH
- 10 Years:
- 21%
- 5 Years:
- 36%
- 3 Years:
- 39%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 42%
- 5 Years:
- 32%
- 3 Years:
- 64%
STOCK PRICE CAGR
- 10 Years:
- 45%
- 5 Years:
- 58%
- 3 Years:
- 58%
- 1 Year:
- 132%
RETURN ON EQUITY
- 10 Years:
- 20%
- 5 Years:
- 21%
- 3 Years:
- 24%
- Last Year:
- 28%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 14 | 14 | 14 | 14 | 14 | 14 | 14 | 27 | 31 | 31 |
| 136 | 155 | 179 | 206 | 284 | 311 | 375 | 466 | 1,071 | 1,385 | |
| 94 | 190 | 154 | 244 | 277 | 369 | 526 | 463 | 713 | 836 | |
| Trade Payables | 88 | 58 | 75 | 37 | 13 | 7 | 20 | 18 | 33 | 20 |
| 100 | 193 | 231 | 213 | 186 | 203 | 309 | 505 | 707 | 1,544 | |
| Total Liabilities | 431 | 611 | 652 | 715 | 774 | 904 | 1,244 | 1,479 | 2,555 | 3,815 |
| 72 | 74 | 71 | 81 | 79 | 84 | 120 | 154 | 201 | 293 | |
| Capital Work in Progress | 1 | 1 | 1 | 2 | 2 | 7 | 2 | 2 | 11 | 7 |
| 312 | 476 | 504 | 564 | 649 | 750 | 982 | 1,189 | 1,979 | 2,954 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 4 | 9 | 24 | |
| Cash & Bank | 20 | 32 | 52 | 31 | 17 | 17 | 76 | 82 | 242 | 381 |
| 26 | 28 | 24 | 37 | 27 | 46 | 64 | 47 | 114 | 156 | |
| Total Assets | 431 | 611 | 652 | 715 | 774 | 904 | 1,244 | 1,479 | 2,555 | 3,815 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 75 | -46 | 94 | -22 | 83 | -62 | 37 | 330 | -424 | 322 | |
| Cash from Investing | -6 | -27 | -17 | 8 | 18 | -21 | -86 | -30 | -138 | -165 |
| Cash from Financing | -56 | 74 | -62 | 24 | -64 | 94 | 78 | -293 | 637 | -122 |
| 7 | -6 | 5 | -7 | 8 | -7 | 2 | 8 | 75 | 36 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
Documents
Corporate disclosures, annual reports, credit ratings, and concall transcripts
2026-08-24 - Thangamayil Jewellery Limited has informed the Exchange regarding a press release dated August 24, 2026, titled "Intimation of press release on opening of 2 new stores in chennai".
2026-08-05 - Thangamayil Jewellery Limited has informed the Exchange about General Updates
2026-08-04 - Thangamayil Jewellery Limited has informed the Exchange about General Updates- AADI PERUKKU SALES PERFORMANCE
2026-07-31 - Thangamayil Jewellery Limited has informed the Exchange about Copy of Newspaper Publication
2026-07-31 - Thangamayil Jewellery Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on July 29, 2026. Further, the company has informed the Exchange regarding voting results.
2026-07-29 - Thangamayil Jewellery Limited has informed the Exchange about Shareholders meeting- proceedings of meeting
2026-07-29 - Thangamayil Jewellery Limited has informed the Exchange about General Updates- initmation of annual general meeting
2026-07-29 - Thangamayil Jewellery Limited has informed the Exchange about General Updates- UNAUDITED FIANNCIAL RESULTS FOR THE QUARTER ENDED 30.06.2026
2026-07-29 - Thangamayil Jewellery Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
News
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