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.

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.