Thangamayil Jewellery logo

Thangamayil Jewellery

THANGAMAYL NSE

Key Fundamentals

SmallcapJewellery & WatchesConsumer Goods
Market Cap
₹15,774 Cr
Volatility
Moderate
P/E Ratio
40.74
EBITDA
₹579 Cr
Return on Equity
24.83%
Debt to Equity
0.64
Book Value
₹455.57
EPS
₹44.17
52W High
₹7,430
52W Low
₹1,939.5

Tapetide Score

Data-driven rating, 0–100. How it works →

Key Insights

Strengths

4
  • Company is expected to give good quarter
  • Company has delivered good profit growth of 32.5% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 23.6%
  • Company's median sales growth is 18.9% of last 10 years

Weaknesses

3
  • Stock is trading at 11.2 times its book value
  • Company might be capitalizing the interest cost
  • Promoter holding has decreased over last 3 years: -5.55%

Growth Rate

Revenue Growth
73.17% higher than 3Y
Net Income Growth
196% higher than 3Y
Cash Flow Change
176% higher than 3Y
ROE
131% higher than 3Y
ROCE
109% higher than 3Y
EBITDA Margin (Avg.)
48.8% higher than 3Y

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 5d ago
AI opinion · based on fundamentals
Risk high

Thangamayil Jewellery Ltd is a Tamil Nadu-based jewellery retailer with a market cap of ₹16,910 Cr, trading at a PE of 43.5x and 12.0x book value. The company has delivered TTM sales growth of 83% and TTM profit growth of 264%, while maintaining a 10-year compounded sales CAGR of 21% and a last-year ROE of 28%.

Bull Case 8
  • TTM revenue growth of 83% signals a sharp acceleration in topline, significantly above the 10-year compounded sales CAGR of 21%
  • TTM profit growth of 264% demonstrates substantial operating leverage and margin expansion in the most recent period
  • Last-year ROE of 28% is well above the 10-year average of 22%, indicating improving capital efficiency
  • 5-year compounded profit CAGR of 32.5% reflects consistent earnings compounding over a meaningful timeframe
  • 10-year stock price CAGR of 45% shows sustained long-term wealth creation for shareholders
  • Median sales growth of 18.9% over the last 10 years points to a durable demand runway in the regional jewellery market
  • Dividend payout ratio of 23.6% provides a degree of cash return discipline despite being in a growth phase, with a current yield of 0.33%
  • 3-year compounded sales CAGR of 39% and 3-year profit CAGR of 64% show acceleration in the medium-term growth trajectory
Bear Case 8
  • PE of 43.5x is elevated for a regional jewellery retailer, pricing in significant future growth and leaving limited margin of safety
  • Price-to-book of 12.0x is exceptionally high, meaning investors are paying a steep premium over the company's net asset value
  • Promoter holding has decreased by 5.55% over the last three years, which may signal reduced insider conviction or dilution
  • Potential capitalization of interest costs could overstate reported profits and asset values, masking true borrowing burden
  • Dividend yield of just 0.33% offers negligible income cushion, meaning returns depend almost entirely on continued price appreciation
  • 1-year stock price CAGR of 151% has front-loaded significant returns, raising the risk of mean reversion or correction from stretched valuations
  • ROE and ROCE data are listed as unavailable in the latest standardized metrics, limiting visibility into current return on invested capital on a fully comparable basis
  • 52-week high and low data are reported as zero, making it difficult to assess the stock's recent trading range and volatility profile

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 2h ago
Positives 2
  • Two new Chennai stores opened Aug 24

    Thangamayil opened two stores in Chennai on Aug 23 — Mogappair West (6,270 sq ft) and Purasaiwakkam (8,746 sq ft), taking total outlets past 66 across Tamil Nadu with ~149,000 sq ft operating area.

  • Promoter raises stake via market Sep 2

    Promoter Narayanan Balusamy Kumar bought 925 shares at ₹5,359.03 on Aug 31, increasing his holding to 17.56%, signaling confidence at current valuations.

TL;DR: Thangamayil is in steady expansion mode, crossing 66 stores in Tamil Nadu with two new Chennai openings adding ~15,000 sq ft. Promoter buying at elevated prices around ₹5,359 reinforces insider confidence. No headwinds surfaced in recent news. The trend is constructive as the company deepens its Chennai footprint, though investors should watch for margin impact from rapid store additions.

Quarterly Results

Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
960
993
896
983
1,222
1,181
1,132
1,381
1,558
1,711
2,406
2,839
2,666
Expenses
868
969
845
933
1,130
1,188
1,049
1,323
1,471
1,605
2,234
2,625
2,522
Operating Profit
92
24
51
50
92
-7
83
57
87
106
172
214
145
OPM %
10%
2.5%
6%
5%
7%
-0.6%
7%
4.2%
6%
6%
7%
8%
5%
Other Income
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
PBT
79
12
38
36
77
-24
67
39
65
78
143
182
115
Tax %
26%
32%
26%
22%
27%
-26%
29%
19%
30%
25%
27%
22%
26%
Net Profit
59
8
28
28
57
-17
48
31
46
59
105
143
85
EPS in Rs
18.91
2.7
9
9.08
18.19
-5.61
15.5
10.1
14.71
18.82
33.71
45.9
27.38
Figures in ₹ Crores

Profit & Loss

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
1,421
1,272
1,299
1,379
1,443
1,692
1,819
2,193
3,153
3,827
4,911
8,499
9,622
Expenses
1,418
1,228
1,251
1,320
1,373
1,594
1,672
2,107
3,000
3,614
4,692
7,935
8,985
Operating Profit
3
43
48
59
71
98
147
86
153
212
219
565
637
OPM %
0.2%
3.4%
3.7%
4.3%
4.9%
6%
8%
3.9%
4.8%
6%
4.5%
7%
7%
Other Income
2
3
1
2
3
3
2
2
3
5
6
12
-2
Interest
29
24
21
19
20
21
23
26
35
36
41
68
70
Depreciation
8
8
9
8
8
10
9
10
13
16
24
40
45
PBT
-33
14
19
34
46
69
117
52
108
165
160
469
519
Tax %
-32%
26%
28%
33%
34%
34%
26%
26%
26%
25%
26%
25%
—
Net Profit
-22
11
14
23
30
46
87
39
80
123
119
352
391
EPS in Rs
-7.19
3.4
4.51
7.38
9.76
14.73
27.93
12.44
25.72
39.63
38.19
113
126
Div. Payout %
-6%
13%
20%
21%
23%
15%
16%
36%
21%
22%
33%
16%
—
Figures in ₹ Crores

Balance Sheet

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
14
14
14
14
14
14
14
14
14
27
31
31
Reserves
115
124
136
155
179
206
284
311
375
466
1,071
1,385
Borrowings
185
146
119
229
178
260
323
417
571
532
797
913
Other Liabilities
101
118
168
213
282
235
154
163
287
456
660
1,491
Total Liabilities
414
402
437
611
652
715
775
905
1,247
1,481
2,559
3,820
Fixed Assets
74
78
72
74
71
81
79
84
120
154
201
293
CWIP
8
1
1
1
1
2
2
7
2
2
11
7
Investments
0
0
0
0
0
0
0
0
0
0
0
0
Other Assets
332
323
364
536
580
633
694
814
1,125
1,325
2,347
3,520
Total Assets
414
402
437
611
652
715
775
905
1,247
1,481
2,559
3,820
Figures in ₹ Crores

Cash Flow

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
82
73
69
-53
85
-39
55
-79
10
330
-424
322
Investing
-3
-5
-6
-27
-17
8
18
-21
-86
-30
-138
-165
Financing
-90
-64
-56
74
-62
24
-64
94
78
-293
637
-122
Net Cash Flow
-11
4
7
-6
5
-7
8
-7
2
8
75
36
Free Cash Flow
79
68
66
-63
80
-48
49
-95
-21
293
-482
249
CFO/OP
2,886
169
156
-78
133
-22
56
-71
24
175
-171
76
Figures in ₹ Crores

Ratios

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
0
0
0
0
1
0
1
0
0
0
1
1
Inventory Days
77
87
96
140
143
139
149
139
127
127
164
144
Days Payable
9
14
27
17
21
9
3
1
3
2
3
1
Cash Conversion Cycle
68
73
69
123
122
130
146
138
125
125
162
144
Working Capital Days
16
24
21
22
25
34
52
53
38
36
54
36
ROCE %
-1%
13%
15%
16%
17%
21%
25%
11%
17%
20%
14%
25%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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29 extracted metrics + investor summaries across FY15–FY26.

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Shareholding Pattern

Others2.37%Promot.61.61%FIIs5.54%Public14.05%DIIs16.43%As ofJun 2026

Documents

Frequently Asked Questions about Thangamayil Jewellery

What does Thangamayil Jewellery Ltd do?
Thangamayil Jewellery Limited operates a chain of retail jewellery stores across several districts in Tamil Nadu, a state that have the largest share (40%) of India's total gold consumption. The company primarily deals with four product lines, i.e., Gold, Silver, Diamonds and Platinum; the sale o...
Where is Thangamayil Jewellery Ltd (THANGAMAYL) listed?
Thangamayil Jewellery Ltd trades as THANGAMAYL on the NSE and under code 533158 on the BSE.
Which sector does Thangamayil Jewellery Ltd belong to?
Thangamayil Jewellery Ltd is classified under the Consumer Discretionary sector, in the Consumer Durables industry.
What is the market capitalisation of Thangamayil Jewellery Ltd?
Thangamayil Jewellery Ltd has a market capitalisation of ₹15,774 Cr, which places it in the Mid Cap band.
What is the PE ratio of Thangamayil Jewellery Ltd?
Thangamayil Jewellery Ltd trades at a PE ratio of 40.74, on earnings per share of ₹44.17, against a book value of ₹455.57 per share.
What is the 52-week high and low of Thangamayil Jewellery Ltd?
Over the last 52 weeks Thangamayil Jewellery Ltd has traded between ₹1,939.5 and ₹7,430.
Does Thangamayil Jewellery Ltd pay dividends?
Thangamayil Jewellery Ltd has a dividend yield of 0.35%.
What is the Return on Equity (ROE) of Thangamayil Jewellery Ltd?
Thangamayil Jewellery Ltd reported a return on equity of 24.83%. Its debt-to-equity ratio is 0.64.

Company Information

Thangamayil Jewellery Limited operates a chain of retail jewellery stores across several districts in Tamil Nadu, a state that have the largest share (40%) of India's total gold consumption. The company primarily deals with four product lines, i.e., Gold, Silver, Diamonds and Platinum; the sale of gold being a predominant source of its income. TMJL has also established four manufacturing units that employ in-house goldsmiths to craft designer jewellery, which are in vogue with the current trends in the marketplace. [1]

Website thangamayil.com
CEO Mr. Balarama Govinda Das
Employees 3,086
Listed 2010-02-19
Face Value ₹ 10
Issued Size 3,10,82,021

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