Thangamayil Jewellery Limited operates a chain of retail jewellery stores across several districts in Tamil Nadu, a state that has the largest share (40%) of India's total gold consumption. The company primarily deals with four product lines: Gold, Silver, Diamonds, and Platinum, with the sale of gold being a predominant source of its income. Their product mix includes all items made in Gold, Silver & Diamond, apart from certain gift category MRP items, with 75% of its revenue from gold jewelry.
The company traces its origins back to 1984 when it began as a family-run business under the name "Balu Jewellery" as a partnership concern. Thangamayil Jewellery Limited was incorporated in March 2000. Prior to the formation of the Company, the business was carried on by the promoters of the Company in the name of `Balu Jewellery` as a Partnership Concern. Since 1984, the Company has been in the business of manufacturing and trading of jewellery. The company is one of the leading jewellery retailers in Madurai, Tamil Nadu.
TMJL has also established four manufacturing units that employ in-house goldsmiths to craft designer jewellery, which are in vogue with the current trends in the marketplace. The company operates through a comprehensive retail network and manufacturing ecosystem. It has a total operating area of approximately 78,000 square feet across all its 41 Thangamayil showrooms & 13 Thangamayil Plus exclusive silver showrooms.
They sell a variety of ornaments like Gold chains, Necklaces, Bangles, Ear Studs, Nose Rings, Waist Belts, Kasu Malai, Bracelets, Finger Rings, and other items fitting to the taste of the customers. The ornaments are made to order as per specific requirements by the customer and are manufactured at the company's unit near Madurai.
The Company's branches are located in Madurai, Rajapalayam, Sivakasi, Aruppukottai, Virudhunagar, Dindigul, Palani, Ottanchatram, Batlagundu, Theni, Cumbum, Karaikudi, Sivagangai, Ramnad, Tirunelveli, Tenkasi, Valliyoor, Sankarankovil, Thisayanvilai, Surandai, Tuticorin, Kovilpatti, Eral, among others. The company has strategically positioned itself in Tamil Nadu, which is known for its high gold consumption patterns and cultural affinity towards gold jewellery.
The company introduced the Hallmarking practice for the first time in Madurai, serviced by the company. They have their showroom at Netaji Road, Madurai. The showroom is housed in a three-storied setup with a total area of 11,416 sq ft.
The company's financial performance shows significant growth, with sales rising and a focus on profitability.
For the full year, net profit declined 3.68% to Rs 118.71 crore in the year ended March 2025 as against Rs 123.24 crore during the previous year ended March 2024. Sales rose 28.32% to Rs 4910.58 crore in the year ended March 2025 as against Rs 3826.78 crore during the previous year ended March 2024.
Net profit of Thangamayil Jewellery rose 11.19% to Rs 31.40 crore in the quarter ended March 2025 as against Rs 28.24 crore during the previous quarter ended March 2024. Sales rose 40.70% to Rs 1380.50 crore in the quarter ended March 2025 as against Rs 981.16 crore during the previous quarter ended March 2024.
Net profit of Thangamayil Jewellery rose 72.11% to Rs 48.19 crore in the quarter ended December 2024 as against Rs 28.00 crore during the previous quarter ended December 2023. Sales rose 26.49% to Rs 1131.64 crore in the quarter ended December 2024 as against Rs 894.63 crore during the previous quarter ended December 2023.
- Revenue: ₹4,916 Crore (FY 2025)
- Net Profit: ₹119 Crore (FY 2025)
- Market Capitalization: ₹5,903 Crore (as of recent reporting dates)
- Q3 FY25 Performance: Net Profit ₹48.19 crore, Sales ₹1131.64 crore
- Q4 FY25 Performance: Net Profit ₹31.40 crore, Sales ₹1380.50 crore
Promoter Holding: 61.5%, though promoter holding has decreased over the last 3 years by -5.17%. Promoter holding in Thangamayil Jewellery Ltd has gone down to 61.49% as of Mar 2025 from 67.32% as of Jun 2024.
The company has been focusing on corporate governance and regulatory compliance. Thangamayil Jewellery's 2024-25 BRSR with limited assurance, ESG policies, goals, and governance disclosures. NOTICE OF 25TH ANNUAL GENERAL MEETING FOR YEAR ENDED 31ST MARCH, 2025 reflects the company's commitment to transparency and stakeholder communication.
The company continues to expand its retail footprint strategically. The opening of two new branches in Chennai on July 6, 2025, by Thangamayil Jewellery demonstrates this expansion strategy and the company's commitment to capturing market share in key metropolitan areas while maintaining its strong presence in Tamil Nadu.
It has increased its manufacturing capacity to 10 kg per day and opened 49 retail outlets across 32 locations in India by 2021. In 2021-22, it opened 4 more, and its 52nd branch was opened in Trichy in April 2022.
The Thangamayil Jewellery Ltd's 52-week high share price is ₹2,557.72 and the 52-week low share price is ₹1,526.45.
- Last 12 Months: Thangamayil Jewellery Ltd share price moved up by 10.36% on BSE.
- Last 3 Years: Thangamayil Jewellery Ltd share price moved up by 297.93% on BSE.
The company's valuation metrics reflect its position as a premium jewellery retailer:
- Stock P/E: 49.7
- Book Value: ₹355
These metrics indicate the market's confidence in the company's business model and growth prospects.
Thangamayil Jewellery Ltd, a leading jewellery retailer in Tamil Nadu, has a market cap of ₹6,519.3 crores and has achieved a remarkable 288.38% growth over the past three years. The company's ROCE is 12.53%, and ROE stands at 18.48%.
The company has established itself as a trusted brand in the Tamil Nadu jewellery market through consistent quality, customer service, and strategic location choices. Its focus on hallmarking practices and quality assurance has helped build customer trust and loyalty in the competitive jewellery retail segment.
