Thangamayil Jewellery Limited , a prominent player in the Indian jewelry market, has reported a significant milestone in its financial performance. The company announced that it has crossed the Rs 1,000 crore mark in monthly revenue for the first time in its history.

Record-Breaking Revenue

In October 2025, Thangamayil Jewellery recorded a monthly revenue of Rs 1,032.00 crores, marking a substantial increase of 178% compared to Rs 371.00 crores in October 2024. This remarkable growth underscores the company's strong market position and effective business strategies.

Gold Ornaments Volume Growth

Alongside the revenue surge, the company also reported a significant increase in its gold ornaments volume. In October 2025, the volume grew by 77% to 764 kgs, up from 432 kgs in the corresponding period of the previous year.

Performance of New Outlets

Thangamayil Jewellery noted that its newly opened outlets in Chennai metro area are performing satisfactorily. This expansion is part of the company's growth strategy and appears to be contributing positively to its overall performance.

Market Fluctuations and Future Outlook

Despite the strong performance, the company expressed caution about assessing revenue growth trends for the remaining five months of the fiscal year. This is due to the current wide price fluctuations in the market, which may impact future performance.

Half-Yearly Performance Highlights

The company's LODR data provides additional insights into its performance for the first half of the fiscal year 2025-26:

The half-yearly results show substantial improvements across key financial metrics, indicating strong overall performance in the current fiscal year.

Expansion and Future Plans

Thangamayil Jewellery has successfully completed the first phase of its "Chennai Metro" expansion, with an overall capital outlay of Rs 660.00 crores. The company is already embarking on the second phase, which aims to cover surrounding areas with ten new outlets over the next 15 months. This expansion is expected to be funded through internal accruals, customer advances, and moderate bank borrowings.

The company's strategic expansion and strong financial performance demonstrate its resilience and growth potential in the competitive Indian jewelry market. However, investors should note the company's cautious stance regarding future revenue trends due to market price fluctuations.

Thangamayil Jewellery Limited (TMJL) has reported a remarkable turnaround in its financial performance for the second quarter. The company's results showcase significant growth across key financial metrics, indicating a strong recovery and expansion strategy.

Financial Highlights

Key Performance Indicators

• Same Store Sales Growth: 10.31% (H1 FY 2025-26)
• Retail Sales: 1,636.00 crore rupees (Q2 FY 2025-26), up 45% YoY
• Gold Jewellery Sales: 1,501.00 crore rupees, up 44% YoY
• Non-Gold Sales: 135.00 crore rupees, up 52% YoY
• Gross Profit Margin: 11.25% of retail sales, up 771 basis points YoY

Operational Highlights

1. Expansion Strategy: TMJL has completed the first phase of its "Chennai Metro" expansion, with new outlets contributing up to 20% of the company's overall revenue.

2. Record-Breaking Performance: In October 2025, the company achieved its highest-ever monthly revenue of 1,032.00 crore rupees, marking a 178% YoY growth.

3. Customer Base Expansion: The company's customer advance base, including "Digi gold" schemes, grew by 76% in the first six months of FY 2025-26, reaching 11.29 lakhs customers.

4. Inventory Management: TMJL has maintained a prudent hedging strategy, with 95.05% of its gold inventory hedged and 35% of silver inventory hedged.

5. Product Mix: Non-gold sales (including silver, diamonds, and other products) showed strong growth, indicating diversification in the company's product offerings.

Future Outlook

Thangamayil Jewellery plans to embark on the second phase of its "Chennai Metro" expansion, aiming to open ten new outlets in the next 15 months. This expansion is expected to be funded through a combination of internal accruals, customer advances, and moderate bank borrowings.

The company anticipates that post-completion of the second expansion phase, its net serviceable debt may be around two times the expected EBITDA for FY 2027-28, indicating a balanced approach to growth and financial stability.

Conclusion

Thangamayil Jewellery's Q2 FY 2025-26 results demonstrate a significant turnaround from the previous year, with robust growth in revenue, profitability, and operational metrics. The company's expansion plans and strong performance in both gold and non-gold segments position it well for potential continued growth in the Indian jewellery market.

Investors and market observers will likely keep a close watch on how TMJL manages its expansion strategy and maintains its growth trajectory in the face of fluctuating gold prices and evolving consumer preferences in the jewellery sector.