Shares of Thangamayil Jewellery Ltd surged 6.55% to ₹1,955.00 in early trading on Monday, April 8, gaining ₹120.15 from the previous close of ₹1,834.85. The stock touched an intraday high of ₹2,004.90 and a low of ₹1,920.00, showcasing strong buying interest. With this move, the company’s market capitalization stands at ₹5,980 crore. The average volume traded was recorded at 1.37 lakh shares. The stock currently trades at a P/E ratio of 47.47 and offers a dividend yield of 0.50%.
The stock rallied after the company announced it will be opening two new branches in Chennai, Tamil Nadu, at Virugambakkam and Iyyappanthangal on Friday, April 11, 2025. These branches will mark Thangamayil’s 61st and 62nd outlets, underscoring its aggressive retail expansion strategy in southern India.
The development comes as part of the company’s long-term retail growth plan to increase its footprint across Tamil Nadu and adjacent markets. These openings are expected to drive further growth in retail sales volume, given the consistent demand in the Chennai region.
This expansion follows the company’s strong Q3 FY25 financial results, reported earlier in February. For the quarter ended December 31, 2024, Thangamayil posted a net profit of ₹48.19 crore, marking a 72% increase year-on-year (YoY) from ₹28 crore. The company also reported a 26% YoY increase in revenue from operations, reaching ₹1,132.46 crore compared to ₹895.9 crore in Q3 FY24.
The company attributed its strong financials to a robust rise in retail sales, effective cost controls, and heightened consumer demand during the festive and wedding seasons. Total expenses for the quarter stood at ₹1,065 crore, rising modestly from ₹858.15 crore YoY. Profit before tax rose significantly to ₹67.45 crore, reflecting improved operational efficiency. After accounting for taxes of ₹19.26 crore, the company demonstrated strong bottom-line performance.
With a focus on regional expansion and consistent earnings performance, Thangamayil Jewellery remains a prominent player in the organized jewellery retail sector in Tamil Nadu.
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