Thangamayil Jewellery share price & results
- Jun 2026
- Sept 2026
Gold, diamond and silver jewellery retail chain with showrooms across Tamil Nadu, headquartered in Madurai.
Reported
The figures, each with its period
Each figure keeps its basis and period; nothing is filled in.
| Metric | Value | Change | Basis | Period | Note |
|---|---|---|---|---|---|
| Revenue | 2,666 | +71.1% YoY | Quarterly, as filed | Quarter to Jun 2026 | Revenue from operations as filed. |
| Operating margin | 5.0 | −1.0 pts YoY | Operating profit / revenue | Quarter to Jun 2026 | For the quarter; a change is in percentage points. |
| Net profit | 85.0 | +84.8% YoY | Quarterly, as filed | Quarter to Jun 2026 | Profit after tax as filed. |
| Return on equity | 31.29 | +13.2 pts | Trailing twelve months | TTM to Jun 2026 | Adjusted profit attributable to owners ÷ average owners’ equity. |
| Free cash flow margin | 2.92 | +12.7 pts | Fiscal year | FY ending Mar 2026 | (Operating cash flow − fixed-asset purchases + disposals) ÷ revenue. |
| Revenue growth (YoY) | 83.21 | +44.7 pts | Trailing twelve months | TTM to Jun 2026 | Revenue change against the same period one year earlier. |
Price
Performance +127.2% 1Y
1Y: ₹2,039.5 on 24 Oct 2025 → ₹4,634.5. High ₹7,309.5 (27 Jul 2026), low ₹2,028.6 (27 Oct 2025).
- Previous close
- ₹4,690.5
- Market cap
- ₹14.4k Cr
- 52-week range
- ₹2,028.6 – ₹7,309.5
- One year
- +128.46%
- Price to earnings (TTM to Jun 2026)
- 36.56×
- Return on equity (TTM to Jun 2026)
- 31.29%
Overview
- Symbol
- NSE:THANGAMAYL
- Sector
- Consumer Durables
- Industry
- Consumer Discretionary
- Exchange
- NSE
- Currency
- INR
What Thangamayil Jewellery Limited does
Based on the company's own presentations, annual report and earnings calls.
Thangamayil Jewellery Limited is a Tamil Nadu-based retail jewellery chain that sells gold, diamond and silver jewellery, along with a Digi Gold digital-savings scheme for small savers, through its own network of showrooms. Revenue is earned through the sale and exchange of gold, diamond and silver jewellery to retail customers, largely across urban and rural Tamil Nadu, with a growing presence in Chennai. The company is also expanding beyond its traditional base into the Chennai metropolitan market as part of its outlet expansion.
- Retail showrooms/branches
- 66
- Store ownership mix
- 58 leased outlets, 8 company-owned outlets
- Employees (TMJL family members)
- 3,450
- Live customer base
- 45 lakh (4.5 million)
- Geographic footprint
- Tamil Nadu-focused retail chain, expanding into Chennai metro
Fundamentals
Ratios, each with its period
Current values with the period they cover; the trend reads across the 6 fiscal years held (Mar 2021 to Mar 2026).
Financials
What the filings say
Net profit, year on year: +85% (quarter to jun 2026 against jun 2025).
| Line item | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Sales | 1,181 | 1,132 | 1,381 | 1,558 | 1,711 | 2,406 | 2,839 | 2,666 |
| Expenses | 1,188 | 1,049 | 1,323 | 1,471 | 1,605 | 2,234 | 2,625 | 2,522 |
| Operating profit | -7 | 83 | 57 | 87 | 106 | 172 | 214 | 145 |
| Operating margin | −0.6% | 7.0% | 4.2% | 6.0% | 6.0% | 7.0% | 8.0% | 5.0% |
| Other income | 0 | 0 | 0 | 0 | 0 | -2 | 0 | 0 |
| Interest | 11 | 10 | 11 | 15 | 16 | 16 | 20 | 18 |
| Depreciation | 6 | 5 | 7 | 7 | 11 | 11 | 12 | 11 |
| Profit before tax | -24 | 67 | 39 | 65 | 78 | 143 | 182 | 115 |
| Tax rate | −26.0% | 29.0% | 19.0% | 30.0% | 25.0% | 27.0% | 22.0% | 26.0% |
| Net profit | -17 | 48 | 31 | 46 | 59 | 105 | 143 | 85 |
| EPS (₹ per share) | -5.61 | 15.50 | 10.10 | 14.71 | 18.82 | 33.71 | 45.90 | 27.38 |
| Line item | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| Sales | 3,156 | 3,832 | 4,916 | 8,514 |
| Expenses | 3,000 | 3,615 | 4,690 | 7,935 |
| Operating profit | 157 | 217 | 225 | 579 |
| Other income | 0 | 0 | 0 | -2 |
| Interest | 36 | 37 | 41 | 67 |
| Depreciation | 13 | 16 | 23 | 41 |
| Profit before tax | 108 | 165 | 159 | 468 |
| Net profit | 80 | 123 | 119 | 353 |
| Line item | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sept 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Equity capital | 14 | 14 | 27 | 31 | 31 | 31 |
| Reserves | 311 | 375 | 466 | 1,071 | 1,136 | 1,385 |
| Borrowings | 417 | 571 | 532 | 797 | 1,124 | 913 |
| Other liabilities | 163 | 287 | 456 | 660 | 956 | 1,491 |
| Total liabilities | 905 | 1,247 | 1,481 | 2,559 | 3,248 | 3,820 |
| Fixed assets | 84 | 120 | 154 | 201 | 250 | 293 |
| Capital work in progress | 7 | 2 | 2 | 11 | 7 | 7 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Other assets | 814 | 1,125 | 1,325 | 2,347 | 2,991 | 3,520 |
| Total assets | 905 | 1,247 | 1,481 | 2,559 | 3,248 | 3,820 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Cash from operations | 55 | -79 | 10 | 330 | -424 | 322 |
| Cash from investing | 18 | -21 | -86 | -30 | -138 | -165 |
| Cash from financing | -64 | 94 | 78 | -293 | 637 | -122 |
| Net cash flow | 8 | -7 | 2 | 8 | 75 | 36 |
| Free cash flow | 49 | -95 | -21 | 293 | -482 | 249 |
| Line item | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|
| Debtor days | 1 | 0 | 0 | 0 | 1 | 1 |
| Inventory days | 149 | 139 | 127 | 127 | 164 | 144 |
| Days payable | 3 | 1 | 3 | 2 | 3 | 1 |
| Cash conversion cycle | 146 | 138 | 125 | 125 | 162 | 144 |
| Working capital days | 52 | 53 | 38 | 36 | 54 | 36 |
| Return on capital employed | 25.0% | 11.0% | 17.0% | 20.0% | 14.0% | 25.0% |
| Dividend payout | 16.0% | 36.0% | 21.0% | 22.0% | 33.0% | 16.0% |
What the price assumes
AttractiveTo justify its price of ₹4634, this stock must grow earnings at 24% every year for 7 years. Our analysis caps realistic growth at ~64%. At that growth it is worth ₹28982 — upside of 525%.
- Growth the price implies
- 23.6% a year
- for 7 years, fading to 4%
- It has actually compounded at
- 64.0% a year
- net profit, FY23–FY26 · EPS 63.9%
- The gap
- -0.4 pp
- 525% downside if it only repeats history
Ownership
Who owns it
Promoters hold 61.65% as of Sept 2026; institutions added 0.85 pts since Jun 2026.
- Promoters 61.65%
- Foreign institutions 5.79%
- Domestic institutions 17.03%
- Public 15.52%
Who bought this quarter
since Jun 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Mutual fund +0.84 pp 7.26% held
- Mutual fund +0.24 pp 1.44% held
The same filing shows 2 holders trimming and 0 off the list — both are in the register beside this.
Who is on the register
Named in the Sep 2026 filing
Every holder of Thangamayil Jewellery Limited above SEBI's 1% disclosure line, and what changed since Jun 2026.
| Holder | Stake | Change |
|---|---|---|
| 17.78% | unchanged | |
| 17.70% | unchanged | |
| 17.56% | unchanged | |
| Mutual fund | 7.26% | +0.84 pp |
| 5.49% | unchanged | |
| Mutual fund | 4.60% | −0.15 pp |
| Mutual fund | 2.23% | unchanged |
| 1.76% | unchanged | |
| 1.74% | −0.25 pp | |
| Mutual fund | 1.44% | +0.24 pp |
| 0.31% | unchanged | |
| 0.30% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Mutual funds in THANGAMAYL
Filings to Sep 2026
5 new, 1 added, 0 trimmed, 0 sold out — net +0.96 L shares (+4.4%).
- Held by funds
- ₹1.2k Cr
- 9 schemes
- Biggest holder
- SBI Smallcap Fund
- ₹654 Cr · 1.6% of that fund
| Scheme | Holding | Last month | Held since |
|---|---|---|---|
| SBI Smallcap Fund SBI Mutual Fund | ₹654 Cr | held | Aug '21 |
| SBI Children's Fund - Investment Plan (Erstwhile known as SBI Magnum Children's Benefit Fund- IP) SBI Mutual Fund | ₹354 Cr | held | Aug '21 |
| SBI MultiCap Fund SBI Mutual Fund | ₹127 Cr | +0.66 L | Aug '26 |
| Nippon India Nifty Smallcap 250 Index Fund Nippon India Mutual Fund | ₹9 Cr | new | Sep '26 |
| SBI Nifty Smallcap 250 Index Fund SBI Mutual Fund | ₹5 Cr | new | Sep '26 |
| SBI Children's Fund - Savings Plan (Erstwhile known as SBI Magnum Children's Benefit Fund-Svg P) SBI Mutual Fund | ₹2 Cr | held | Dec '23 |
| Nippon India Nifty 500 Equal Weight Index Fund Nippon India Mutual Fund | ₹1 Cr | new | Sep '26 |
| SBI Nifty 500 Index Fund SBI Mutual Fund | ₹0 Cr | new | Sep '26 |
HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.
Mutual funds Sep 2026
1 added, 0 trimmed — net +96,416 shares (+4.4%)
- Funds are sitting on
- +147%
- vs est. average cost
- Held by funds
- ₹1.2k Cr
- 9 schemes · ≈ 7.3% of the company
- Biggest holder
- SBI Smallcap Fund
- ₹654 Cr · 1.6% of that fund
Shares held by these funds +28%
Oct '23 22.75 L shares Sep '26
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