Thangamayil Jewellery , a prominent player in the Indian jewelry market, has witnessed a remarkable surge in its stock price, reaching new heights on the back of impressive quarterly results. The company's shares have rallied over 53% in just five trading sessions, touching an all-time high of Rs 3,144.00.

Strong Q2 Performance

The jeweler's stellar performance in the September quarter has been the primary driver behind this surge. Here's a breakdown of the key financial metrics:

The company has shown a remarkable turnaround, moving from a loss in the previous year to a substantial profit in the current quarter.

October Performance

Thangamayil Jewellery's growth momentum continued into October, with the company achieving a significant milestone:

• Revenue crossed Rs 1,000.00 crore for the first time
• October revenue surged 178% year-over-year to Rs 1,032.00 crore
• Gold ornament volumes increased by 77% to 764 kg

Technical Analysis

Technical analysts have noted several key points regarding the stock's performance:

• The stock has broken out from a year-long consolidation pattern
• Strong trading volumes have accompanied the breakout
• Momentum indicators are currently in overbought territory

Outlook and Support Levels

Analysts suggest watching for potential dips, with key support levels identified:

• Support levels: Rs 2,800.00 - Rs 2,570.00
• Key level to watch: Rs 2,600.00 - Rs 2,800.00

If the stock maintains its position above the Rs 2,600.00 - Rs 2,800.00 range, analysts see potential upside targets of Rs 3,300.00 - Rs 3,500.00.

Investors are advised to conduct thorough research and consider their risk appetite before making investment decisions, as past performance does not guarantee future results.

Thangamayil Jewellery Limited , a prominent player in the Indian jewellery market, has reported robust financial results for the first half of fiscal year 2025-26, marked by significant revenue growth and expansion initiatives.

Financial Highlights

For the six months ended September 30, 2025, Thangamayil Jewellery posted impressive financial results:

The company's gross profit margin improved significantly to 11.17% in H1 FY26, up from 7.36% in the same period last year, indicating better revenue realization.

Expansion and Operational Updates

Thangamayil Jewellery has made substantial progress in its expansion plans:

• Successfully completed the first phase of "Chennai Metro" expansion, with new outlets contributing up to 20% of the company's overall revenue.
• Initiated the second phase of expansion in the Chennai region, planning to add ten more outlets over the next 15 months with an estimated investment of Rs. 700 crore.
• Total retail outlets increased to 66, enhancing the company's market presence.

Product Mix and Customer Base

The company reported growth across various product categories:

• Gold jewellery sales reached Rs. 2,876 crore, up 35% year-over-year.
• Non-gold product sales, including silver and diamonds, grew by 42% to Rs. 265 crore.
• Diamond sales volume increased by 20% to 8,242 carats.

Notably, the customer advance base, including "Digi gold" schemes, grew by 76% in the first six months of FY26, from 6.41 lakh to 11.29 lakh customers.

October Performance and Future Outlook

In a significant milestone, Thangamayil Jewellery achieved its highest-ever monthly revenue of Rs. 1,032 crore in October 2025, a 178% increase compared to October 2024. The company also reported a 77% increase in gold ornament volume for the month.

Looking ahead, Thangamayil Jewellery aims to complete its second phase of Chennai expansion by the end of Q3 or early Q4 of FY26. The company expects its net serviceable debt to be around two times the projected EBITDA for FY 2027-28 after the expansion.

While the company has shown strong performance, it notes that fluctuating gold and silver prices may impact volume trends for the remaining months of FY26.

Thangamayil Jewellery's strategic expansion, improved profitability, and growing customer base position it well for continued growth in the competitive Indian jewellery market. However, investors should keep an eye on how precious metal price fluctuations might affect the company's performance in the coming quarters.