THANGAMAYL

Thangamayil Jewellery Limited

Organized jewellery retailer of gold ornaments, silver articles and diamonds

Consumer Discretionary›Consumer Durables›Consumer Durables›Gems, Jewellery And Watches

thangamayil.com(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹5098.00
Market cap
15,843 Cr
Stock P/E
40.5
P/B
11.19
Dividend yield
0.2%
ROE (FY26)
24.8%
ROCE (FY26)
23.9%
Operating margin (FY26)
6.2%
Debt / equity (FY26)
0.58
OCF / EBITDA (FY26)
57.1%
OCF / EBITDA (3Y)
23.0%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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What you need to know

Thangamayil Jewellery makes and retails gold ornaments, silver articles and diamond products through its own stores in Tamil Nadu, and says its customer base is over 45 lakh people (July 2026 results commentary).

Company snapshot

5thBy market cap

Ranked among 39 companies in Gems, Jewellery And Watches.

What we see

Positives
  • ✓Return on equity of 24.8% — the company generates strong returns on shareholders' money.
Concerns
  • ✗Only 23% of operating profit came in as cash over the last three years — much of it is tied up in unpaid bills or stock.

Statement tables · Standalone

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Standalone only

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales992 Cr895 Cr981 Cr1,220 Cr1,178 Cr1,132 Cr1,381 Cr1,555 Cr1,705 Cr2,401 Cr2,838 Cr2,662 Cr
Operating expenses (approx.)969 Cr845 Cr933 Cr1,130 Cr1,188 Cr1,049 Cr1,323 Cr1,471 Cr1,605 Cr2,234 Cr2,625 Cr2,522 Cr
EBITDA23 Cr50 Cr48 Cr90 Cr-10 Cr82 Cr57 Cr84 Cr99 Cr168 Cr213 Cr141 Cr
OPM %2.3%5.6%4.9%7.4%-0.9%7.3%4.1%5.4%5.8%7.0%7.5%5.3%
Other income1 Cr1 Cr2 Cr2 Cr3 Cr0.82 Cr0.23 Cr3 Cr6 Cr5 Cr0.96 Cr4 Cr
Interest9 Cr9 Cr9 Cr9 Cr11 Cr10 Cr11 Cr15 Cr16 Cr16 Cr20 Cr18 Cr
Depreciation4 Cr4 Cr5 Cr5 Cr6 Cr5 Cr7 Cr7 Cr11 Cr11 Cr12 Cr11 Cr
Profit before tax12 Cr38 Cr36 Cr77 Cr-24 Cr67 Cr39 Cr65 Cr78 Cr143 Cr182 Cr115 Cr
Tax %31.6%25.8%21.7%26.7%25.9%28.6%19.1%29.8%25.4%26.8%21.7%26.3%
Net profit8 Cr28 Cr28 Cr57 Cr-17 Cr48 Cr31 Cr46 Cr59 Cr105 Cr143 Cr85 Cr
EPS (₹)₹3.06₹10.21₹10.29₹20.61₹-6.36₹17.56₹10.18₹14.71₹18.82₹33.71₹45.89₹27.38

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales1,299 Cr1,379 Cr1,443 Cr1,692 Cr1,819 Cr2,193 Cr3,153 Cr3,827 Cr4,911 Cr8,499 CrSign in free for the trailing twelve months
Operating expenses (approx.)1,251 Cr1,320 Cr1,373 Cr1,594 Cr1,672 Cr2,107 Cr3,000 Cr3,614 Cr4,692 Cr7,935 CrSign in free for the trailing twelve months
EBITDA48 Cr59 Cr71 Cr98 Cr147 Cr86 Cr153 Cr212 Cr219 Cr565 CrSign in free for the trailing twelve months
OPM %3.7%4.3%4.9%5.8%8.1%3.9%4.9%5.5%4.5%6.6%Sign in free for the trailing twelve months
Other income1 Cr2 Cr3 Cr3 Cr2 Cr2 Cr3 Cr5 Cr6 Cr14 CrSign in free for the trailing twelve months
Interest21 Cr19 Cr20 Cr21 Cr23 Cr26 Cr35 Cr36 Cr41 Cr68 CrSign in free for the trailing twelve months
Depreciation9 Cr8 Cr8 Cr10 Cr9 Cr10 Cr13 Cr16 Cr24 Cr40 CrSign in free for the trailing twelve months
Profit before tax19 Cr34 Cr46 Cr69 Cr117 Cr52 Cr108 Cr165 Cr160 Cr469 CrSign in free for the trailing twelve months
Tax %27.6%32.6%33.6%34.2%26.0%25.9%26.1%25.3%25.8%25.0%Sign in free for the trailing twelve months
Net profit14 Cr23 Cr30 Cr46 Cr87 Cr39 Cr80 Cr123 Cr119 Cr352 CrSign in free for the trailing twelve months
EPS (₹)₹10.17₹16.58₹22.05₹33.01₹63.11₹28.09₹58.13₹44.91₹42.00₹113.14Sign in free for the trailing twelve months
Dividend payout %————9.5%0.0%18.9%15.6%13.9%11.0%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital14 Cr14 Cr14 Cr14 Cr14 Cr14 Cr14 Cr27 Cr31 Cr31 Cr
Reserves136 Cr155 Cr179 Cr206 Cr284 Cr311 Cr375 Cr466 Cr1,071 Cr1,385 Cr
Borrowings94 Cr190 Cr154 Cr236 Cr269 Cr360 Cr548 Cr500 Cr751 Cr826 Cr
Other liabilities193 Cr252 Cr305 Cr259 Cr208 Cr221 Cr310 Cr487 Cr706 Cr1,579 Cr
Total liabilities437 Cr611 Cr652 Cr715 Cr775 Cr905 Cr1,247 Cr1,481 Cr2,559 Cr3,820 Cr
Fixed assets (net)69 Cr72 Cr69 Cr70 Cr69 Cr73 Cr99 Cr123 Cr154 Cr205 Cr
CWIP0.73 Cr0.87 Cr1 Cr2 Cr2 Cr7 Cr2 Cr2 Cr11 Cr7 Cr
Investments——0 Cr0 Cr0 Cr0 Cr0 Cr0 Cr0 Cr0 Cr
Inventories312 Cr476 Cr504 Cr564 Cr649 Cr750 Cr982 Cr1,189 Cr1,979 Cr2,954 Cr
Trade receivables0.85 Cr1 Cr2 Cr0.14 Cr3 Cr3 Cr3 Cr4 Cr9 Cr24 Cr
Cash & bank9 Cr4 Cr9 Cr2 Cr10 Cr4 Cr6 Cr14 Cr89 Cr124 Cr
Other assets45 Cr57 Cr67 Cr77 Cr42 Cr69 Cr155 Cr149 Cr319 Cr507 Cr
Total assets437 Cr611 Cr652 Cr715 Cr775 Cr905 Cr1,247 Cr1,481 Cr2,559 Cr3,820 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity69 Cr-53 Cr85 Cr-56 Cr55 Cr-79 Cr10 Cr330 Cr-424 Cr322 Cr
Cash from investing-6 Cr-27 Cr-17 Cr8 Cr18 Cr-21 Cr-86 Cr-30 Cr-138 Cr-165 Cr
Cash from financing-56 Cr74 Cr-62 Cr41 Cr-64 Cr94 Cr78 Cr-293 Cr637 Cr-122 Cr
Net cash flow7 Cr-6 Cr5 Cr-7 Cr8 Cr-7 Cr2 Cr8 Cr75 Cr36 Cr
Free cash flow (OCF − Capex)65 Cr-63 Cr80 Cr-65 Cr49 Cr-95 Cr-21 Cr293 Cr-482 Cr249 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %16.5%14.7%19.0%19.9%24.7%11.4%15.2%20.3%10.8%23.9%
ROE %9.4%13.6%15.7%20.7%29.1%11.9%20.5%25.0%10.8%24.8%
Debtor days0010100011
Inventory days111129138138139130116118137126
Days payable3116209312221
Cash conversion cycle80113118129137129114117135127
OCF / EBITDA %143.1%-88.9%120.0%-57.6%37.5%-91.7%6.8%155.6%-193.6%57.1%
OCF / EBITDA % (3 years)——56.8%-10.7%26.5%-24.2%-3.5%58.0%-14.2%23.0%
Debt / equity0.631.130.801.070.901.111.411.010.680.58
Current ratio1.381.281.361.441.681.721.581.541.721.54
Net debt / EBITDA1.753.142.052.391.764.133.552.293.021.24