Editor’s Note
In India’s notoriously volatile jewelry market, Thangamayil Jewellery has distinguished itself with strong financial performance, consistently exceeding market expectations. This article examines the factors behind its standout growth.
India’s jewelry (gold and silver) market is never straightforward. Gold prices fluctuate, wedding seasons come and go, and people prefer different types of ornaments. This causes the performance of company stocks to constantly change. In this volatile market, the stock of Thangamayil Jewellery has shown remarkable performance over the past few years. The company has delivered returns exceeding market expectations and demonstrated excellent growth in the December 2025 quarter. Let’s look at the numbers.
In the financial year 2025 December quarter, the company’s revenue stood at ₹2,405.8 crore, which is 112.4% higher than the ₹1,132.5 crore in the same December quarter last year and 71% higher than the previous September 2025 quarter. The company’s net profit reached ₹104.8 crore in the December 2025 quarter. This is 117.4% higher than the ₹48.2 crore in the same December quarter last year. EBITDA increased to ₹82.4 crore from ₹167.5 crore in the same quarter last year. The EBITDA margin was slightly lower at 6.98% compared to 7.28%.
The company’s ROE (Return on Equity) has averaged 20% over the past 3 years. ROCE (Return on Capital Employed) was 13.7%.
The company’s business is primarily in Tamil Nadu, where people buy a lot of jewelry and customers are trustworthy and loyal. This growth has come from strong demand in their own region, not from opening many new stores. The company’s P/E ratio is approximately 42 times, higher than the industry average of 25 times. This means investors value its strong earnings and solid position in the region.
The company’s stock closed at ₹3,280 on Friday, February 6, after a 3.29% gain. This week, the company’s stock was up 2%. Over the past year, the company’s stock has gained over 75%, and over three years, the company’s shares have delivered a 554% return. Looking at the five-year return, the company’s stock has given its investors a fantastic multibagger return of 1,010.66%. The company’s market cap is ₹10.49 thousand crore.