Thangamayil Jewellery Limited delivered exceptional performance during the Akshaya Tritiya period, with revenue rising 75.87% year-on-year to ₹279.27 crore, compared with ₹158.80 crore in the corresponding period last year. According to reports from CNBC TV18, this strong growth came despite a sharp 59% increase in gold prices on a year-on-year basis, demonstrating the company's ability to capitalize on festive demand despite challenging market conditions. The performance underscores resilient consumer demand during Akshaya Tritiya, one of the most significant festivals for gold purchases in India, with both value and volume growth remaining strong despite price headwinds.
The company maintained robust sales momentum with gold sales volume reaching 183.20 kg during the period, up 15.14% from 159.11 kg a year ago. As reported by CNBC TV18, this volume growth indicates resilient consumer demand despite the significant increase in gold prices, highlighting the strength of the festive season's impact on jewellery purchases. The strong topline growth came even as gold prices were higher by nearly 59% YoY during the festive period, demonstrating the company's ability to maintain market share and customer loyalty.
Non-gold segments contributed significantly to the overall growth trajectory, with revenue rising 61% to ₹17.99 crore from ₹11.17 crore last year. According to CNBC TV18, this substantial increase in non-gold revenue reflects the company's successful diversification strategy and expansion of product offerings beyond traditional gold jewellery, providing a more balanced revenue base. The sharp rise in non-gold revenue indicates improving traction across product categories beyond gold, with the company highlighting this as a key driver of its overall growth performance.
Following the announcement, shares of Thangamayil Jewellery rose initially before paring gains to trade at ₹4,133.50, marginally lower on the NSE. As reported by CNBC TV18, the company continues its expansion strategy by planning to add more stores in and around Chennai as part of its next phase of expansion starting FY27. The company opened 10 new showrooms in the first nine months of the current financial year, taking its total store count to 66 retail outlets. The strong financial performance during the Akshaya Tritiya period demonstrates the company's ability to navigate market challenges while maintaining growth momentum across its diversified product portfolio.
