Thangamayil Jewellery (THANGAMAYL) had a P/E of 32.9× on 6 Nov 2026, above the industry P/E of 19.6×, and the shares are 44% below their 52-week high. It earns ROCE of 34% and ROE of 29%, and sales and net profit grew 39% and 64% a year over 3 years. Its dividend yield is 0.4%, and debt is 0.99× equity. It is a small-cap company with a market cap of ₹12,893 Cr, ranked 6th of 82 Luxury Goods companies by market cap; the shares rose 43% over the past year.
- ₹4,337.50
- ₹4,376.70
- ₹4,135.00
- ₹4,335.50
- 1 L
Health check
- ReturnsAhead
+42.6% over a year, better than 5 of 7 peers.
- Price tagPricier
P/E 32.9 vs industry 19.6.
- GrowthSteady
Sales +39.2%, profit +64.0% a year over 3 years.
- ProfitabilityStrong
ROCE 34.2% vs peer median 31.3%.
- Balance sheetFair
Debt 0.99× equity, interest covered 8.9×, Piotroski 7 of 9.
- Red flags2 to check
P/E of 32.9 against an industry P/E of 19.6.
Small cap
Market sensitivity
Key metrics
- Market cap
- ₹12,893 Cr
- Small cap
- P/E
- 32.9
- Industry 19.6
- Price to book
- 8.57
- Peers 6.37
- Dividend yield
- 0.43%
- ROE
- 29.3%
- Peers 24.3%
- ROCE
- 34.2%
- Peers 31.3%
- Debt to equity
- 0.99
- Debt ₹1,497 Cr
- EPS (TTM)
- ₹126.11
- Face value ₹10
- OPM (TTM)
- 6.5%
- Net margin 3.8%
- Sales growth
- +71.2%
- Latest quarter vs a year ago
- Profit growth
- +86.2%
- Latest quarter vs a year ago
- Price to sales
- 1.25
- EV/EBITDA 22.6
Strengths and risks
Strengths
- Return on equity of 29.3%.
- Return on capital employed of 34.2%.
- Quarterly profit up 86.2% on a year ago.
- Quarterly sales up 71.2% on a year ago.
Risks to check
- P/E of 32.9 against an industry P/E of 19.6.
- 44% below its 52-week high.
About Thangamayil Jewellery
Thangamayil Jewellery Limited operates a chain of retail jewelry stores in India. The company offers gold, diamond, silver, precious stones, and platinum jewelries, as well as silver articles and gold coins. It also involved in the manufacture and sale of jewelry, and other accessories and products. In addition, it offers gold saving schemes. The company provides its products through online. Thangamayil Jewellery Limited was founded in 1947 and is…
- Headquarters
- Madurai
- Employees
- 3,450
- Sector
- Consumer Cyclical
- ISIN
- INE085J01014
- Website
- thangamayil.com
Price range
- Avg volume (3M)
- 86K
- 1-year return
- plus 42.6%
- From 52-week high
- minus 44.2%
Peers · Luxury Goods
| Company | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| TITANTitan Company | 5,000.00 | plus 3.42% | 4,43,656 | 63.1 | 24.30 | 38.4% | 37.1% | 11.6% | 29.2% | 16.0% | 0.30% | plus 26.8% |
| KALYANKJILKalyan Jewellers India | 590.75 | plus 5.49% | 61,010 | 42.6 | 9.66 | 26.7% | 24.3% | 6.7% | 36.4% | 46.1% | 0.42% | plus 7.2% |
| LALITHAALalithaa Jewellery Mart | 373.50 | plus 0.50% | 20,905 | 21.9 | 6.37 | 46.1% | 41.6% | 5.7% | 23.4% | 61.8% | 0.00% | plus 50.3% |
| PCJEWELLERPC Jeweller | 15.77 | plus 1.35% | 15,467 | 17.1 | 1.65 | 10.3% | 10.8% | 24.6% | 10.7% | – | 0.00% | plus 29.0% |
| SKYGOLDSKY GOLD AND DIAMONDS | 951.95 | plus 0.31% | 14,743 | 37.3 | 10.49 | 35.9% | 33.0% | 7.5% | 76.0% | 145.4% | 0.00% | plus 164.3% |
| THANGAMAYLThangamayil Jewellery | 4,148.20 | minus 4.32% | 12,893 | 32.9 | 8.57 | 34.2% | 29.3% | 6.5% | 39.2% | 64.0% | 0.43% | plus 42.6% |
| BLUESTONEBlueStone Jewellery and Lifestyle | 710.85 | minus 2.09% | 10,867 | 102.6 | 5.92 | 7.7% | 5.8% | 17.0% | 46.8% | – | 0.00% | plus 2.0% |
| PNGJLP N Gadgil Jewellers | 589.60 | minus 1.88% | 8,679 | 16.6 | 2.87 | – | 21.4% | 6.5% | 33.6% | 76.7% | 0.00% | minus 9.7% |
| Median of 7 peers | – | 0.50% | 15,467 | 37.3 | 6.37 | 31.3% | 24.3% | 7.5% | 33.6% | 61.8% | 0.00% | 26.8% |
Quarterly results
| ₹ Cr | Mar 25 | Jun 25 | Dec 25 | Mar 26 | Jun 26 |
|---|---|---|---|---|---|
| 1,381 | 1,555 | 2,401 | 2,838 | 2,662 | |
| – | – | – | +105.6% | +71.2% | |
| 1,323 | 1,468 | 2,229 | 2,624 | 2,518 | |
| 57.4 | 87 | 172 | 214 | 145 | |
| 4.2% | 5.6% | 7.2% | 7.6% | 5.4% | |
| 0 | 0 | −0 | 0 | −0 | |
| 11.1 | 15 | 16.1 | 20.4 | 17.7 | |
| 7.4 | 6.8 | 10.5 | 11.8 | 11.5 | |
| – | – | −2.4 | – | – | |
| 38.8 | 65.1 | 143 | 182 | 115 | |
| 19.1% | 29.8% | 26.8% | 21.7% | 26.3% | |
| 31.4 | 45.7 | 105 | 143 | 85.1 | |
| – | – | – | +354.3% | +86.2% | |
| 10.18 | 14.71 | 33.71 | 45.89 | 27.38 |
Profit & loss
- Sales CAGR 3Y
- +39.2%
- Profit CAGR 3Y
- +64.0%
- EPS CAGR 3Y
- +59.0%
- ROE
- 29.3%
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 3,153 | 3,827 | 4,911 | 8,499 | |
| – | +21.4% | +28.3% | +73.1% | |
| 2,980 | 3,612 | 4,690 | 7,932 | |
| 173 | 215 | 221 | 567 | |
| 5.5% | 5.6% | 4.5% | 6.7% | |
| −2.2 | −0.4 | −0.2 | 3.9 | |
| 30 | 31 | 35.8 | 59.4 | |
| 13.4 | 16.4 | 23.7 | 40.2 | |
| −19.5 | −1.7 | −1.4 | −2.7 | |
| 108 | 165 | 160 | 469 | |
| 26.1% | 25.3% | 25.8% | 25.0% | |
| 79.7 | 123 | 119 | 352 | |
| – | +54.6% | minus 3.7% | +196.2% | |
| 28.16 | 43.93 | 42.00 | 113.14 |
Forecast
Balance sheet
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 13.7 | 27.4 | 31.1 | 31.1 | |
| 375 | 466 | 1,071 | 1,385 | |
| 571 | 532 | 797 | 913 | |
| 287 | 456 | 660 | 1,491 | |
| 1,247 | 1,481 | 2,559 | 3,820 | |
| 121 | 154 | 210 | 299 | |
| 1.6 | 2.4 | 11.3 | 6.9 | |
| 0.4 | 0.4 | 0.4 | 0.6 | |
| 5.7 | 13.6 | 172 | 321 | |
| 1,118 | 1,310 | 2,165 | 3,193 | |
| 1,247 | 1,481 | 2,559 | 3,820 |
Cash flow
| ₹ Cr | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|
| 10.4 | 330 | −424 | 322 | |
| −86.4 | −29.7 | −138 | −165 | |
| 78 | −293 | 637 | −122 | |
| 2 | 7.9 | 75 | 35.6 | |
| −31.8 | −37.3 | −58.3 | −73.8 | |
| −21.4 | 293 | −482 | 248 | |
| −15.1 | −19.2 | −16.5 | −38.9 |
Shareholding pattern
- Promoters61.65%
- Public38.35%
| Quarter | Split | Promoters | Public | Promoter change |
|---|---|---|---|---|
| 30 Sep 2026 | 61.65% | 38.35% | plus 0.04 | |
| 30 Jun 2026 | 61.61% | 38.39% | 0.00 | |
| 31 Mar 2026 | 61.61% | 38.39% | plus 0.05 | |
| 31 Dec 2025 | 61.56% | 38.44% | 0.00 | |
| 30 Sep 2025 | 61.56% | 38.44% | – |
Major shareholders
Filings & events
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