Thangamayil Jewellery Limited has formally confirmed to stock exchanges that it does not qualify as a Large Corporate under the applicability criteria specified in SEBI circular SEBI/HO/DDHS/CIR/P/2018/144 dated November 26, 2018. The confirmation was submitted as an undertaking to both BSE Limited and National Stock Exchange of India Ltd regarding fundraising through the issuance of debt securities by large entities.

Submission to Stock Exchanges

The undertaking was addressed to BSE Limited at Phiroze Jeejeebhoy Towers, Dalal Street, Fort, Mumbai – 400001, and the National Stock Exchange of India Ltd at Exchange Plaza, C/1, Block G, Bandra Kurla Complex, Bandra East, Mumbai - 400051. The company's scrip code on BSE is 533158 with the trading symbol THANGAMAYL.

Official Confirmation

The company explicitly stated that it is not a Large Corporate as per the criteria outlined in the SEBI circular dated November 26, 2018. This undertaking was submitted as required by the exchanges for records related to debt securities fundraising by large entities.

Key Details

The undertaking was signed by K. Narayanan, Company Secretary, and B. RajeshKanna, Chief Financial Officer, on behalf of Thangamayil Jewellery Limited. The company's registered office is located at 124, Nethaji Road, Madurai 625001, while its corporate office is situated at 25/6, Palami center, II & III floor, Narayananapuram, Near Ramakrishna Mutt, New Natham Road, Madurai-625014.

Thangamayil Jewellery has delivered exceptional performance during the Akshaya Tritiya festival period, reporting significant growth across multiple business metrics. The company's strong showing during this auspicious gold buying occasion reflects robust customer demand and effective business execution.

Financial Performance Overview

The company achieved remarkable revenue growth during the Akshaya Tritiya period, with total sales revenue reaching ₹279.27 crores. This represents a substantial year-on-year increase of 75.87%, demonstrating the company's ability to capitalize on festive demand and expand its market presence.

Volume and Product Performance

The company's operational metrics showed strong performance across different product categories. Gold volume sales increased by 15.14% to reach 183.20 kg during the Akshaya Tritiya period, indicating healthy customer demand for the company's gold jewelry offerings.

The non-gold segment demonstrated particularly impressive growth, with revenue jumping 61% to ₹17.99 crores. This significant increase in non-gold revenue highlights the company's successful diversification strategy and customer acceptance of its broader product portfolio beyond traditional gold jewelry.

Market Position and Festival Impact

Akshaya Tritiya represents one of the most significant gold buying occasions in the Indian jewelry market, and Thangamayil Jewellery's strong performance during this period reflects its competitive positioning and customer loyalty. The substantial revenue growth combined with healthy volume increases suggests effective pricing strategies and strong brand appeal among customers.

The company's ability to achieve growth across both gold and non-gold segments during this key festival period demonstrates its comprehensive market approach and diversified product offerings that cater to varying customer preferences and price points.