Thangamayil Jewellery Share Price Hit 10% Lower Circuit for Second Day: Here's Why

Thangamayil Jewellery share price (NSE: THANGAMAYL) remained under pressure on July 30, 2026, falling 10% for the second consecutive trading session. Although the company reported strong financial results for the first quarter of FY27, investors reacted negatively to its cautious outlook for the ongoing quarter.

Thangamayil Jewellery Share Price Extend Decline

Thangamayil Jewellery shares hit the 10% lower circuit at ₹5,815.30, taking the stock's decline over the past two trading sessions to 20%. At midday, the market saw only sell orders for around 1.61 lakh shares.

Despite the recent correction, the stock has delivered strong long-term returns. It has gained around 78% so far in 2026, risen 202% over the past year and surged nearly 350% in the last 3 years.

Thangamayil JewelleryQ1 FY27 Performance

The company reported impressive year-on-year growth for the quarter ended June 2026.

• Revenue increased 71% to ₹2,662 crore from ₹1,555 crore in the same quarter last year.
• Profit after tax (PAT) rose 86% to ₹85 crore from ₹46 crore a year earlier. 

However, compared with the previous quarter, performance softened. Revenue declined from ₹2,839 crore, while PAT fell from ₹147 crore recorded in the March quarter.

Why Did the Stock Fall?

The main reason behind the sharp decline was the company's cautious outlook for the second quarter.

According to the management, gold jewellery volumes remained relatively weak during the June quarter despite stable gold prices. Higher import duty and rupee depreciation increased the overall cost of gold, leading many customers to postpone purchases in anticipation of lower international gold prices.

The company also stated that there has been no visible improvement in sales during the first 28 days of the September quarter. Ongoing geopolitical uncertainty and expectations of a possible fall in gold prices have continued to keep buyers on the sidelines.

Management expects the delayed demand to return once the geopolitical situation stabilises or gold prices become more favourable, and remains optimistic about a recovery in the second half of FY27.

Read More: SBI Raises ₹4,691 Crore Through AT1 Bonds at 7.75% Coupon Rate!

Conclusion

Thangamayil Jewellery reported strong Q1 FY27 earnings with healthy growth in both revenue and profit. However, concerns over weak near-term demand and cautious guidance for the September quarter weighed heavily on investor sentiment, resulting in a sharp decline in the share price. 

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