On July 29, 2026, Thangamayil Jewellery Limited reported its financial results for the quarter ending June 30, 2026, as per the exchange filings.
The company experienced a growth in total income and net profit compared to the same period last year, though there was a decline from the previous quarter.
In the June 2026 quarter, Thangamayil Jewellery Limited's total income increased by 71.2% year-on-year (YoY) to ₹2,666.38 crore, compared to ₹1,557.86 crore in the same quarter of the previous year.
However, this was a 6.1% decrease in quarter-on-quarter (QoQ) from ₹2,839.17 crore in the March 2026 quarter.
The net profit for the June 2026 quarter rose by 86.1% YoY to ₹85.09 crore, up from ₹45.71 crore a year ago.
Despite this YoY growth, the net profit was down 40.4% QoQ from ₹142.66 crore in the March 2026 quarter.
For the financial year 2026, Thangamayil Jewellery Limited reported a total income of ₹8,513.75 crore. The net profit for the year stood at ₹351.65 crore, reflecting the company's overall financial performance for the year.
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Despite reporting strong year-on-year growth, the retail jewelry major faced significant macroeconomic execution headwinds that affected physical sales volumes on a sequential quarter-on-quarter basis.
A sudden, steep increase in gold import duty from 6% to 15% combined with continuous domestic rupee depreciation prompted retail customers to postpone high-value purchases in anticipation of future price drops.
Additionally, geopolitical uncertainties stemming from the ongoing West Asia conflict led to a notable slowdown in inward expatriate remittances across TMJL's core operating zones.
Consequently, the company saw a marginal 8% drop in sequential retail sales, while its localized gross profit margins contracted by 158 basis points to settle at 9.81%.
To navigate volatile gold pricing structures, TMJL successfully relied on its internal alternative channels, such as structured gold exchange programs and its digital "DIGI GOLD" platform.
Customer advances and digital schemes contributed an improved 53% share (worth ₹1,397 crore) to the total gold revenue mix, scaling up from a 47% contribution in the previous year.
Backed by a comfortable internal liquidity cushion of ₹389 crore, the group is aggressively expanding its physical footprint.
Following the launch of 2 retail outlets in Chennai, the company finalized preparations to inaugurate 4 additional surrounding metropolitan branches by September 2026 to further scale its existing 66-showroom network.
As of July 29, 2026, at 11:36 AM, Thangamayil Jewellery share price on NSE was trading at ₹6,478.00, down by 9.63% from the previous closing price.
Thangamayil Jewellery Limited's financial results for the June 2026 quarter show a 71.2% YoY increase in total income to ₹2,666.38 crore and an 86.1% YoY rise in net profit to ₹85.09 crore. However, both metrics decreased QoQ.
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Published on: Jul 29, 2026, 12:29 PM IST
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