Thangamayil Jewellery Reports First Quarter Results: Topline Grows 71% YoY Despite Margin Pressure and Global Uncertainty

Thangamayil Jewellery Reports First Quarter Results: Topline Grows 71% YoY Despite Margin Pressure and Global Uncertainty​

Thangamayil Jewellery Limited released its unaudited financial results for the first quarter ending June 30, 2026. The company reported a significant year-on-year (YoY) growth in revenue but noted sequential challenges due to adverse market conditions, resulting in margin compression during the quarter.

The Board of Directors reviewed and took on record the results, which include performance highlights across operational segments and financial health metrics.

Financial Performance Highlights for Q1 FY2026​

For the quarter ended June 30, 2026, Thangamayil Jewellery reported total income from operations of Rs. 2,66,638 Lakhs. This marked a strong increase in revenue compared to the corresponding period in the previous financial year. The company recorded Net Sales of Rs. 2,66,245 Lakhs.

The detailed figures for the quarter are as follows:


The company’s performance metrics demonstrated mixed trends when comparing the quarter sequentially (QoQ) and year-over-year (YoY). While the topline showed substantial growth YoY, the Earnings Per Share (EPS) saw a decline QoQ. The EPS for the current quarter stood at Rs. 27.38, compared to Rs. 45.89 in the previous quarter.

Operational Headwinds and Strengths​

The operational results were influenced by several global and domestic factors. Despite generally benign international gold prices during the reporting period, volume in the gold segments remained relatively lower. This situation was attributed partly to a steep increase in import duty from 60/0 to 15% and significant Indian Rupee (INR) depreciation. Customers were also reported to be postponing purchases, anticipating a fall in gold prices denominated in US dollars.

Uncertainty related to the West Asia war contributed to a slowdown in gross purchase of gold by expatriates whose remittances flow through the company's operating areas. This situation led to a reduction in the gross profit margin at 9.81% for the quarter, compared to 17.39% QoQ.

However, some positive contributions were noted. The improved contribution from exchange gold schemes and "DIGI GOLD" garnered Rs. 1,397 Crs in revenue, against Rs. 728 Crs in the YoY period, resulting in a value improvement of Rs. 669 Crs or 25% on a comparable basis.

The gross profit earned this quarter included realized inventory profit on both gold and silver, amounting to Rs. 31 Crs, which accounted for 13% of the reported gross profit of Rs. 247 Crs.

Business Outlook and Financial Health​

In terms of overall business performance, the company stated that results were satisfactory on a YoY basis across all fronts, including Revenue/PAT growth. The improvement in non-gold sales composition (involving silver, diamond, and MRP items) saw an increase of 105 BPS. Same Store Sales (SSS) growth for the three months ended June 30, 2026 was recorded at 44.4% QoQ.

The company is currently engaged in retail outlet expansion plans. Two outlets were opened in Chennai in June 2026, and two more are planned for opening on October 31, 2026. Civil work is ongoing for two other outlets, which are likely to open by November 30, 2026.

The company maintains a strong liquidity position, with overall liquidity standing at Rs. 389 Crs, inclusive of eligible undrawn drawing facility from member bankers. The hedging ratio for gold as on June 30, 2026 was reported at 96%, and for silver at 43%.

THANGAMAYL Stock Price Movement​

As of 11:23 AM, shares of Thangamayil Jewellery Limited are slipping by 5.14% in live trading, currently at ₹6800. The stock has seen a total traded volume of 311,670 shares as it trades within the day's range.