Madurai-based Thangamayil Jewellery Ltd delivered exceptional financial results for Q4 FY26, with net profit doubling to ₹142 crore compared to ₹39 crore in the corresponding quarter last year. According to reports from The Hindu BusinessLine, the company's revenue more than doubled to ₹2,839 crore from ₹1,380 crore in the previous year. For the full financial year FY26, the company achieved net profit of ₹352 crore against ₹118 crore in FY25, with revenue increasing to ₹8,514 crore from ₹4,916 crore.
The company's performance was primarily driven by strong gold jewellery sales, which increased by 105% to ₹2,503 crore in Q4 FY26. As reported by The Hindu BusinessLine, non-gold sales including silver, diamonds and other products rose 141% to ₹227 crore. The company expanded its retail footprint during the year, with the number of operational retail outlets increasing to 66 as of March 2026 from 60 in the same period last year.
Despite strong financial performance, Thangamayil Jewellery has expressed concerns about potential demand compression following Prime Minister Narendra Modi's call to reduce gold jewellery purchases and the subsequent increase in gold import duty. According to the company's management, these developments may impact gold and silver jewellery demand in the coming months, particularly in an already challenging demand scenario. However, the company noted that customers have shifted to exchange of gold for new jewellery purchases, with exchange gold sales now ranging from 50% to 60% of current sales compared to a historic average of around 25%.
The company has proposed a dividend of ₹18.00 per equity share for financial year 2025-26, as reported by The Hindu BusinessLine. Despite strong financial performance, Thangamayil Jewellery shares closed at ₹3,561.20 on the NSE on Friday, down 1.53% or ₹55.30. The market decline occurred despite the company's robust quarterly results and expansion in retail outlets.
