Thangamayil Jewellery Ltd(THANGAMAYL)

NSE: THANGAMAYLBSE: 533158

₹ 4,638.9-3.04%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 14,419 crWebsite: www.thangamayil.comUpdated: 24 Oct 2026

About

Thangamayil Jewellery Ltd is a Tamil Nadu-focused retailer and manufacturer of gold, silver, and diamond jewellery, operating 60 showrooms with one manufacturing unit in Madurai. The company reported revenue of Rs 8,499.33 crore in FY26. It describes itself as a dominant regional brand in Tamil Nadu, which is stated to be the largest consumer of gold in India.^[1][2]

Product mix

Gold jewellery accounted for 90.42% of turnover in FY25.^[1]
Silver articles contributed 6.69% of turnover in FY25.^[1]
Diamond, stones and others made up 2.89% of turnover in FY25.^[1]
The company reports gold jewellery, diamond and silver articles as a single business segment (FY25).^[1]

Operations and network

The company operates 60 showrooms as of FY25.^[1]
One manufacturing unit is located at Madurai.^[1]
Five offices span three in Madurai, one in Chennai, and one in Mumbai as of FY25.^[1]
SAP Business One is deployed as the ERP platform across all showrooms, supported by an in-house IT team, as of FY25.^[1]

Key operating numbers

At least 20 outlets each crossed Rs 100 crore or thereabouts in sales in FY25.^[1]
Inventory hedging stood at 96% in FY25 vs 89% the year before.^[1]
Akshaya Tritiya day sales volume fell 24% in FY26 on a gold price spike.^[1]

Inventory and procurement

Gold is procured daily aligned to actual daily sales; the company also leases gold from banks and uses centralised bulk procurement when gold prices are low, as of FY25.^[1]

Customers, brands and digital

The company has no international operations and zero export sales as of FY25.^[1]
The DigiGold savings app allows customers to save in 22-karat gold and had around 6,00,000 subscribers as of FY25.^[1]
The e-commerce platform sells 22kt gold, silver, diamond and platinum jewels at real-time market prices as of FY25.^[1]

Expansion and capex

For FY26, the retail outlet expansion outlay was fixed around 85,000 lakhs, funded by rights proceeds, bank borrowing and customer advances.^[1]
Plan to open at least 8 more outlets within Tamil Nadu, 6 around Chennai (FY25 annual report).^[1]
Rights issue proceeds earmarked for 6 new retail stores, including a Chennai flagship, and their inventory.^[1]
Stated plan to nearly double the top line in the next four years (FY25 annual report).^[1]

Recent developments

Dividend of Rs.18 per equity share (180%) proposed for FY26.^[3]
Plans to accept or renew deposits of up to Rs.49,560 lakh in FY27 (public Rs.35,400 lakh; members Rs.14,160 lakh), vs up to 38,582.47 lakhs proposed for FY26.^[3][1]
CFO B. Rajesh Kanna's monthly pay to be revised from Rs.3,00,000 to Rs.8,30,000 with effect from 1 April 2026.^[3]

Market Cap

₹14,419 Cr

High / Low

₹7,429 / 1,939

Stock P/E

40.6

Price / Book

11.2

Book Value

₹456

EPS

₹113.1

No. of Shares

3.11 Cr

ROCE

25.6%

ROE

27.9%

OPM

6.3%

Debt / Equity

0.58

Sales

₹8,499 Cr

Net Profit

₹352 Cr

Promoter holding

61.6%

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