Thangamayil Jewelry inventory hits 20% higher circuit after turning worthwhile in Q2

Thangamayil Jewelry share value hit the 20% higher circuit restrict in Monday’s session, November 3, reaching a recent all-time excessive of ₹2,603. The rally in shares got here quickly after the corporate launched its September quarter outcomes in the present day, turning worthwhile through the quarter.

Immediately’s surge marked the third consecutive day of positive factors, leading to a cumulative rise of 27%.

Turned Worthwhile

The corporate reported a web revenue of ₹58.15 crore within the September quarter, a pointy turnaround from a web lack of ₹17.45 crore in the identical interval final 12 months, which had been impacted by a list hit because of the customs responsibility discount.

Whole gross sales grew 45% year-on-year to ₹1,705 crore in Q2 from ₹1,178 crore a 12 months in the past. Wholesale gross sales rose 47% to ₹69 crore, whereas retail gross sales elevated 45% to ₹1,636 crore from ₹1,131 crore.

The gold jewelry section noticed a 44% rise in income to ₹1,501 crore, and the non-gold section (together with silver, diamonds, and different merchandise) posted a 52% enhance to ₹135 crore.

Non-gold gross sales now account for 8.25% of whole retail gross sales, up 38 foundation factors from 7.87% final 12 months.

On the working degree, EBITDA stood at ₹106 crore in comparison with a lack of ₹7 crore within the earlier 12 months, marking a 1,614% enhance, whereas the EBITDA margin improved by 710 foundation factors to six.48%.

For H1 FY26, the corporate reported a 167% bounce in web revenue to ₹104 crore, whereas income from operations elevated 36% to ₹3,260 crore.

Thangamayil additionally supplied an replace on its growth plans in Chennai, stating that the primary part of growth has been accomplished and is performing properly in with their expectations.

The corporate expects the Chennai operations to contribute round 20% of its whole annual income as soon as totally operational. In the course of the quarter, the corporate opened seven new shops, taking its whole stores to 66.

In a separate submitting, the corporate introduced that it achieved a file income of ₹1,032 crore in October, crossing the ₹1,000 crore mark for the primary time in its historical past, in comparison with ₹371 crore within the corresponding month final 12 months, a 178% year-on-year enhance.

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