Thangamayil Jewellery logo

Thangamayil Jewellery share price

NSE: THANGAMAYLBSE: 533158Consumer DurablesSmall Cap

Thangamayil Jewellery Limited · Face value ₹10 · Listed Feb 2010
Last close ₹4,630.50down ₹50.00 (1.07%)BSE ₹4,634.95

Share price at the NSE close on 29 Oct 2026. Previous close ₹4,680.50.

29 Oct: open ₹4,681.00, high ₹4,681.50, low ₹4,570.00

52-week range of traded prices to 29 Oct 2026
₹2,018.10Low, 30 Oct 2025₹7,430.00High, 28 Jul 2026
Market cap
₹14,393 Cr495th largest listed
P/E
36.81
P/B
10.16
Dividend yield
0.39%
ROE
31.1%
ROCE
25.7%
Debt to equity
0.58
Volume, NSE
37,64247.5% delivered

Thangamayil Jewellery share price chart

Daily closes since Feb 2010, adjusted for splits and bonuses

+125.9%over a year · Nifty Consumer Durables −9.7% · Nifty 500 −8.4%

Results20-session average 50,692 shares a day, 49.3% delivered

About Thangamayil Jewellery

Thangamayil Jewellery Limited is a Madurai-based jewellery retailer that sells gold jewellery, silver articles, and diamond and platinum jewellery to individual customers through its showrooms and an online store.123 It also designs and makes jewellery to customers' requirements, and runs schemes under which customers pay in advance and redeem the amount as jewellery.34 It operates only in Tamil Nadu and does not export.53

Its products and services include the Thangamayil DigiGold and Thangamayil DigiSilver digital savings plans, the Smart Gold, Super Gold and Future Plus schemes, and corporate gifting.6 It reports a single business segment covering gold jewellery, diamonds and silver articles.7 It leases its showrooms rather than buying property, and does not use franchisees.85

It was incorporated in 2000 and its shares are listed on the National Stock Exchange and BSE.91 It entered Chennai, its first metro city, in 2025, and raised ₹510 crore through a rights issue (an offer of new shares to existing shareholders) in March 2025.1011 Its chairman and managing director, Balarama Govinda Das, and its joint managing directors, Ba. Ramesh and N.B. Kumar, are promoters and brothers.1213 The promoters held 61.61% of the shares at the end of Mar 2026.14

Thangamayil Jewellery key points

Results

  • In the year to Mar 2026, revenue was ₹8,49,933 lakh, up 73% from ₹4,91,058 lakh a year earlier; revenue and profit after tax were the highest in the company's history.1516
  • EBITDA (earnings before interest, tax, depreciation and amortisation) was ₹57,674 lakh in the year to Mar 2026, against ₹22,468 lakh a year earlier, and profit after tax was ₹35,165 lakh, against ₹11,871 lakh.15
  • The EBITDA margin rose to 6.79% in the year to Mar 2026 from 4.58% a year earlier.17
  • Sales volume rose 12.30% in the year to Mar 2026, while the gold price rose 58% year on year.18

Revenue mix

  • Share of turnover by product19
    Itemyear to Mar 2026
    Gold jewellery89.80%
    Silver articles6.75%
    Diamond, stones and others3.45%

Branches and reach

  • The company opened 10 outlets in the year to Mar 2026, and all its retail outlets, including the new Chennai Metro outlets, were profitable at the EBITDA level.20
  • Revenue from Chennai Metro was ₹1,485 crore in the year to Mar 2026, and Chennai contributed nearly 20% of total revenue on an annualised basis.2122
  • Urban areas contributed 41.93% of the company's sales in the year to Mar 2026, against 30.62% a year earlier.23

Customer schemes and hedging

  • Advances customers paid under the company's jewellery purchase schemes, redeemable as jewellery within 11 months, stood at ₹1,41,887.34 lakh at the end of Mar 2026, against ₹60,744.34 lakh a year earlier.24
  • The customer schemes held an accumulated 1,168 kg of gold at the end of Mar 2026, against 849 kg a year earlier.25
  • In its chairman's letter of 15 May 2026, the company said old gold that customers exchange for new jewellery was 50% to 60% of its then current sales, against a historic average of around 25%.26
  • Hedging against gold price swings stood at 95% in aggregate in the year to Mar 2026, against 96% a year earlier, through gold metal loans (gold lent by banks at low interest) and customer advances, with part of other stock hedged on the MCX exchange.27

Expansion and capital spending

  • The company stated in its annual report for the year to Mar 2026 that it plans at least 9 new outlets in and around Chennai in the year to Mar 2027, costing around ₹600 crore, completing its second expansion phase by 31 Dec 2026.2829
  • The company stated in its annual report for the year to Mar 2026 that it expects to operate in at least 20 locations in and around Chennai by 2027, and Chennai's share of revenue to reach 25% in the year to Mar 2028.3031
  • The company stated in its annual report for the year to Mar 2026 that it aims to have at least 100 retail outlets operating in Tamil Nadu by 2030.32

What the company expects

  • The company stated in its annual report for the year to Mar 2026 that, subject to unforeseen circumstances, it aims for revenue growth of around 18% a year at constant gold and silver prices, and profit growth of around 20% a year.33
  • The company stated in its annual report for the year to Mar 2026 that, subject to unforeseen circumstances, it aims to sustain a return on equity (profit as a share of shareholders' funds) of 24% or more.34
  • The company stated in its annual report for the year to Mar 2026 that the rise in gold and silver import duty from 6% to 15% on 13 May 2026 may bring inventory gains (higher value on stock held) of around ₹60 crore.35

Recent events

  • On 29 Jun 2026, ICRA reaffirmed its A+ (Stable) credit rating (an opinion on the ability to repay debt) on the company's fixed deposit programme, and rated its ₹1,412 crore of bank working-capital limits A+ (Stable)/A1, including an enhanced amount.363738
  • On 15 May 2026, the board recommended a dividend of ₹18 per share of ₹10 face value for the year to Mar 2026, for approval at the annual general meeting of 29 Jul 2026; the company's documents give no outcome.3940

Litigation and regulatory matters

  • As of its annual report of 6 Oct 2026, the company's appeal against a ₹7,017 lakh income tax demand for assessment year 2021-22 (the year in which the previous year's income is taxed) was pending before the Commissioner (Appeals), and payment was stayed in full.41
  • As of its annual report of 6 Oct 2026, the company had appealed to the Customs, Excise and Service Tax Appellate Tribunal against a ₹274 lakh demand for excise on gold coins and silver jewellery and service tax credit, covering Mar 2016 to Jun 2017.42

Last updated

All 42 sources, each with its page
  1. 1. Annual report, 6 Oct 2026, page 157
  2. 2. Annual report, 6 Oct 2026, page 75
  3. 3. Annual report, 6 Oct 2026, page 81
  4. 4. Annual report, 6 Oct 2026, page 159
  5. 5. Annual report, 6 Oct 2026, page 22
  6. 6. Annual report, 6 Oct 2026, page 82
  7. 7. Annual report, 6 Oct 2026, page 184
  8. 8. Annual report, 6 Oct 2026, page 23
  9. 9. Annual report, 6 Oct 2026, page 4
  10. 10. Annual report, 6 Oct 2026, page 21
  11. 11. Annual report, 6 Oct 2026, page 27
  12. 12. Annual report, 6 Oct 2026, page 57
  13. 13. Annual report, 6 Oct 2026, page 123
  14. 14. Annual report, 6 Oct 2026, page 137
  15. 15. Annual report, 6 Oct 2026, page 13
  16. 16. Annual report, 6 Oct 2026, page 43
  17. 17. Annual report, 6 Oct 2026, page 32
  18. 18. Annual report, 6 Oct 2026, page 16
  19. 19. Annual report, 6 Oct 2026, page 81
  20. 20. Annual report, 6 Oct 2026, page 43
  21. 21. Annual report, 6 Oct 2026, page 25
  22. 22. Annual report, 6 Oct 2026, page 43
  23. 23. Annual report, 6 Oct 2026, page 14
  24. 24. Annual report, 6 Oct 2026, page 174
  25. 25. Annual report, 6 Oct 2026, page 185
  26. 26. Annual report, 6 Oct 2026, page 15
  27. 27. Annual report, 6 Oct 2026, page 44
  28. 28. Annual report, 6 Oct 2026, page 43
  29. 29. Annual report, 6 Oct 2026, page 14
  30. 30. Annual report, 6 Oct 2026, page 22
  31. 31. Annual report, 6 Oct 2026, page 43
  32. 32. Annual report, 6 Oct 2026, page 17
  33. 33. Annual report, 6 Oct 2026, page 17
  34. 34. Annual report, 6 Oct 2026, page 17
  35. 35. Annual report, 6 Oct 2026, page 15
  36. 36. Exchange filing, 29 Jun 2026, page 2
  37. 37. Exchange filing, 29 Jun 2026, page 4
  38. 38. Annual report, 6 Oct 2026, page 43
  39. 39. Annual report, 6 Oct 2026, page 43
  40. 40. Annual report, 6 Oct 2026, page 2
  41. 41. Annual report, 6 Oct 2026, page 180
  42. 42. Annual report, 6 Oct 2026, page 180

Results

Standalone; ₹ crore.Thangamayil Jewellery quarterly results

Revenue growth, 12 months
+83.1%
Net profit growth, 12 months
+262.5%

Quarter to Jun 2026, against the quarter before

Revenue
₹2,662 Crdown 6.19%
Net profit
₹85 Crdown 40.35%
Net margin
3.2%

Revenue by quarter

₹1,178 CrSep 24₹1,132 CrDec 24₹1,381 CrMar 25₹1,555 CrJun 25₹1,705 CrSep 25₹2,401 CrDec 25₹2,838 CrMar 26₹2,662 CrJun 26
Peak revenue ₹2,838 Cr, quarter to Mar 2026; lowest ₹1,132 Cr, quarter to Dec 2024

Net profit by quarter, a loss in red

  • Net profit
  • Loss
−₹17 CrSep 24₹48 CrDec 24₹31 CrMar 25₹46 CrJun 25₹59 CrSep 25₹105 CrDec 25₹143 CrMar 26₹85 CrJun 26
A loss in 1 of the 8 quarters shown
₹ croreSep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Revenue1,1781,1321,3811,5551,7052,4012,8382,662
Net profit−174831465910514385
Net margin−1.5%4.3%2.3%2.9%3.4%4.4%5.0%3.2%
Standalone. The last eight quarters. The latest is shaded.

Business segments

In the year to Mar 2026 the company reports one business segment, THE COMPANY'S BUSINESS ACTIVITY FALLS WITH IN A SINGLE BUSINESS SEGMENT IN TERMS OF IND AS 108 ON SEGMENT REPORTING, which carries all its revenue.

Valuation

Today, against the company's own history.Thangamayil Jewellery PE ratio and valuation

Price to earnings

At or below today's level on 74% of 2,298 trading days since May 2017.

LowestHighest
Its median27.13Industry median17.41
Price to book

At or below today's level on 88% of 1,914 trading days since Nov 2018.

LowestHighest
Its median4.93Industry median1.64
Dividend yield

At or below today's level on 17% of 2,431 trading days over the last 10 years.

LowestHighest
Its median0.71%Industry median0.46%

Where the return came from

Yearly rates to Mar 2026, per-share figures restated for splits and bonuses.

OverReturn a yearEarnings growthChange in P/EDividend yield
1 year+71.1%+196.2%−42.4%0.5%
3 years+90.3%+57.3%+20.5%0.6%
5 years+64.4%+29.1%+26.7%0.8%
Return is price growth plus the average dividend yield. Change in P/E is (1 + price growth) / (1 + earnings growth) - 1, so the parts compound rather than add. Earnings growth over 1 year is on profit divided by shares in issue at both ends: the earnings per share stated for one end does not match that year's profit and share count.

Shareholding

Per cent of the company's shares, from the filing for Sep 2026.Thangamayil Jewellery shareholding pattern

Shareholding by group

  • Promoters61.65%
  • Foreign institutions5.79%
  • Indian institutions17.03%
  • Individuals and others15.52%
Holder
Ramesh.BaPromoter17.78%
Balarama Govinda DasPromoter17.70%
Kumar.N.BPromoter17.56%
Thangamayil Gold and Diamond Private LimitedPromoter5.49%
Balusamy Silvears Jewellery Private LimitedPromoter1.76%
Chandramogan R GResident individuals, over ₹2 lakh at face value1.74%
Holders are named in the company's own words: an insurer's holding can carry one of its funds' names. Mutual funds are left out here and listed fund by fund below.

Since Jun 2026: promoters +0.04 pts, foreign institutions +0.25 pts, Indian institutions +0.60 pts, mutual funds +0.72 pts.

Mutual fund holdings

60 funds disclosed a holding for Sep 2026. What they did in Sep 2026, against each fund's month before. 3 of the 10 funds that added or cut are index funds, ETFs or arbitrage funds: an index fund or ETF holds what its index holds, and an arbitrage fund holds the share against a sale of its future.All 60 funds holding Thangamayil Jewellery

Bought for the first time
32
Added
1
Cut
9
Held unchanged
18
Sold out
2
Fund
DSP Mutual Fund logoDSP Small Cap FundDSP Mutual Fund14,29,9473.37%₹723.8 Cr
SBI Mutual Fund logoSBI Small Cap FundSBI Mutual Fund12,92,0001.59%₹654.0 Cr
SBI Mutual Fund logoSBI Children's Fund - InvestmentSBI Mutual Fund7,00,0004.46%₹354.3 Cr
Canara Robeco Mutual Fund logoCanara Robeco Small Cap FundCanara Robeco Mutual Fund4,47,2141.62%₹226.4 Cr
HSBC Mutual Fund logoHSBC Value FundHSBC Mutual Fund3,22,3271.11%₹163.2 Cr
SBI Mutual Fund logoSBI Multicap FundSBI Mutual Fund2,50,0000.54%₹126.6 Cr
HSBC Mutual Fund logoHSBC Multi Cap FundHSBC Mutual Fund1,67,1451.33%₹84.6 Cr
HSBC Mutual Fund logoHSBC ELSS Tax saver FundHSBC Mutual Fund1,54,1881.96%₹78.1 Cr
HSBC Mutual Fund logoHSBC Consumption FundHSBC Mutual Fund50,0001.49%₹25.3 Cr
JM Financial Mutual Fund logoJM Small Cap FundJM Financial Mutual Fund36,6271.97%₹18.5 Cr
Portfolios disclosed for Sep 2026. Weight is the holding as a share of the fund's assets.

Promoter and insider buying and selling

Trades made since 30 Oct 2025.Thangamayil Jewellery insider trading

Bought on the market Sold on the market
  • Promoters and promoter group6 purchases, 0 sales₹7.21 CrNo saleNet₹7.21 Cr1 pledge filing of unclear kind
  • Others: no market trade · 3 off-market moves
Bought and sold count trades on the market only. A pledge is shares given to a lender as security for a loan; a lender invokes it by selling them.

Thangamayil Jewellery competitors and peers

Gems, Jewellery And Watches, 104 listed companies, priced on 29 Oct 2026. The table lists the 8 companies closest to Thangamayil Jewellery in market cap.Consumer durables companies

Where the company sits among the companies nearest its size

Return on equity across, P/E up, size is market cap
Company
Titan Company logoTitan CompanyTITAN3,93,64468.3425.07+45.1%+55.1%42.2%31.5%0.34%
Kalyan Jewellers India logoKalyan Jewellers IndiaKALYANKJIL53,18737.068.43+45.7%+79.1%25.8%31.8%0.49%
Lalithaa Jewellery Mart logoLalithaa Jewellery MartLALITHAA19,861––––––0.00%
PC Jeweller logoPC JewellerPCJEWELLER15,66317.481.69+29.3%+45.9%10.8%9.4%0.00%
Sky Gold and Diamonds logoSky Gold and DiamondsSKYGOLD13,57434.299.66+73.0%–32.4%24.8%0.00%
BlueStone Jewellery and Lifestyle logoBlueStone Jewellery and LifestyleBLUESTONE10,547100.615.74––6.0%9.6%0.00%
P N Gadgil Jewellers logoP N Gadgil JewellersPNGJL8,59217.633.00+50.7%+64.3%21.4%14.5%0.00%
Ethos logoEthosETHOSLTD6,72664.454.52+30.4%+12.8%8.4%7.6%0.00%
Market cap in ₹ crore. Growth is the last twelve months against the twelve before. A figure is left empty where it would rest on a loss or the company has under a year of results on record. ROE is the shareholders' profit over their net worth. ROCE is profit before interest and tax over the whole group's net worth plus borrowings, as in the figures at the top of the page.

Dividends

Per share, by the year it was paid for, and the latest payments.Thangamayil Jewellery dividend history

Dividend per share, ₹, restated for later splits and bonuses

1Mar 171.8Mar 182.5Mar 192.5Mar 205Mar 215Mar 226Mar 2310Mar 2413Mar 2518Mar 26
Highest ₹18.00 a share, year to Mar 2026.
Ex-dateTypePer share
22 Jul 2026Final₹18.00
21 Jul 2025Final₹12.50
18 Jul 2024Final₹6.00
12 Feb 2024Interim₹4.00
27 Jun 2023Final₹6.00
1 Feb 2023Interim₹6.00
Latest payments, as declared, by ex-date.

Latest announcements

Routine notices left out.Thangamayil Jewellery announcements

Thangamayil Jewellery share price by year

Each calendar year to 2025.Thangamayil Jewellery share price history

YearClose at year endChangeHighest closeLowest close
20253,222.10+64.3%3,426.401,552.55
20241,961.65+31.5%2,595.701,149.50
20231,491.35+172.5%1,516.90495.75
2022547.23−20.4%693.35465.08
2021687.78+129.5%712.55292.58
2020299.65+71.3%303.95112.80
2019174.93−7.8%196.40136.03
2018189.80−37.3%328.20145.18
2017302.58+276.5%348.7383.58
201680.38−27.5%158.0080.00
₹ per share, adjusted for splits and bonuses since. Change is on the close at the end of the year before.

Recent sessions

The 9 trading days to 28 Oct 2026, as traded on NSE; the latest is at the top of the page.

DateOpenHighLowCloseAverage priceVolumeDelivery
28 Oct 20264,780.004,785.004,659.004,680.504,684.1623,33558.8%
27 Oct 20264,635.004,777.504,635.004,762.004,723.1631,33159.3%
26 Oct 20264,651.004,689.004,590.004,634.504,636.9127,16755.5%
23 Oct 20264,755.004,772.004,563.504,690.504,647.4055,56842.9%
22 Oct 20264,844.004,895.504,767.004,782.504,802.1623,32953.2%
21 Oct 20265,017.505,025.504,850.004,860.504,889.8641,73256.0%
19 Oct 20265,122.505,175.004,997.005,017.505,083.8344,63936.2%
16 Oct 20264,775.005,232.004,759.505,098.005,090.332,25,46625.0%
15 Oct 20264,849.504,851.004,775.004,791.004,810.0324,76352.3%
Prices in ₹ per share as traded, not adjusted.

Price adjustments

What the price chart is corrected for, so it reads as one share held throughout.Bonus share history

Ex-dateEventPrice factorWhat happened
11 Feb 2025Rights issue–Shareholders were offered new shares. Noted, not adjusted for.
17 Jul 2023Bonus0.5000Holders received 1 bonus share for every 1 held.
Earlier prices are multiplied by the factor, so the chart reads as one share held throughout. Any other event is noted and not adjusted for.

Company details

Chairperson and managing director
BALARAMA GOVINDA DAS
At the end of the quarter to Sep 2026
NSE symbol
THANGAMAYL
BSE code
533158
ISIN
INE085J01014
Industry
Consumer Durables
CIN
L36911TN2000PLC044514
Corporate identity number, the registrar of companies' code for it
Incorporated
2000
Registered office
124, Nethaji Road, Madurai 625001, Tamil Nadu
Share registrar
MUFG Intime India Pvt. Ltd
Keeps the register of shareholders and handles transfers and dividend payments