Yesterday, Thangamayil Jewellery shares hit the upper circuit, and as of today – 4th November 2025, the stock reached ₹3,041 per share, rising 16.8% more from yesterday’s 20% upper circuit.
Stock Movement
Stock Hits 20% Upper Circuit on November 3 Shares of Thangamayil Jewellery Ltd. hit the 20% upper circuit at ₹2,603.50 on Monday, November 3, following a robust turnaround in its September quarter results and record-breaking performance in October. The company posted a net profit of ₹58.5 crore for the quarter ended September 2025.
Q2 FY26 Financial Performance
Q2 FY26 Financial Performance For Q2 FY26, Thangamayil Jewellery’s total sales jumped 45% year-on-year to ₹1,705 crore from ₹1,178 crore in Q2 FY25. Retail sales, forming the core of its business, surged 45% to ₹1,636 crore, while wholesale revenue rose 47% YoY to ₹69 crore.
Category-Wise Growth
Category-Wise Growth Within the retail segment, gold jewellery sales climbed 44% YoY to ₹1,501 crore, while the non-gold category (including silver, diamonds, and other products) expanded 52% YoY to ₹135 crore, showcasing strong traction in lifestyle and premium products. Non-gold sales now contribute 8.25% of total retail sales, up 38 basis points from 7.87% a year ago.
Profitability and Margins
Profitability and Margins Gross profit leapt 360% YoY to ₹184 crore, while the gross profit margin improved sharply by 771 basis points to 11.25%, compared with 3.54% in Q2 FY25. EBITDA stood at ₹106 crore. The company’s profit before tax (PBT) stood at ₹78 crore, while profit after tax (PAT) came in at ₹59 crore.
Operational Growth Across Categories
Operational Growth Across Categories Operationally, gold ornament volumes grew 2% YoY to 1,513 kg, silver products rose 23% to 5,636 kg, and diamond product volumes increased 18% to 4,184 carats, reflecting broad-based growth across all categories. While the inventory turnover slipped to 2.87x from 3.27x, the interest cover improved dramatically to 6.52x, compared with (0.70x) in Q2 FY25.
Record-Breaking October 2025 Sales
Record-Breaking October 2025 Sales Thangamayil Jewellery achieved a major milestone in October 2025, clocking a monthly revenue of ₹1,032 crore, marking the first time in its history that it crossed the ₹1,000 crore mark. This represents a 178% YoY surge from ₹371 crore in October 2024, driven by strong festive demand and new store contributions. Gold volumes during the month rose 77% YoY to 764 kg.
Retail Expansion
Retail Expansion During the quarter, Thangamayil Jewellery opened seven new outlets, bringing its total retail network to 66 stores, further strengthening its presence across markets.
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