Thangamayil Jewellery Ltd. has witnessed a sharp rally in its stock price, surging nearly 16% today and 36% over the last two sessions, after the company reported a strong turnaround in its September quarter (Q2 FY25) results.
The Madurai-based jewellery retailer posted a net profit of ₹58.5 crore in Q2FY25, a remarkable recovery from a loss of ₹17.4 crore in the same period last year. The company’s performance was driven by strong festive demand and improved operating efficiency across its retail network.
Revenue from operations rose 45% year-on-year to ₹1,711 crore, compared to ₹1,181 crore in Q2FY24, reflecting robust growth in gold jewellery sales and expansion into new markets.
On the operating front, Thangamayil Jewellery reported an EBITDA of ₹106.2 crore, a sharp turnaround from an EBITDA loss of ₹7.5 crore a year earlier. The EBITDA margin stood at 6.2%, marking a solid improvement from the previous year’s negative margin.
The company also reported an inventory hit of ₹15.5 crore during the quarter, primarily due to the recent customs duty cut on gold, which impacted valuation. Despite this, overall profitability remained strong.
During the first half of FY26, Thangamayil Jewellery expanded its footprint by opening nine new stores, taking its total store count to 66 outlets. The company plans to add three more stores in the coming months, underscoring its aggressive retail expansion strategy.
