Thangamayil shares up 8% but off highs after strong Q3 net profit, rights issue approved

On a nine-month basis, the profit was at Rs 87.31 crore, lower YoY due to the absorption of import duty paid on inventory held on the date of realization in July 2024.

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26 Aug, 2025 12:21

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Gold jewellery store chain Thangamayil Jewellery has posted a standalone net sales of Rs 1132.46 crore for the December quarter, higher by 26% on year, while the net profit was reported at Rs 48.19 crore, up 72% on year. The EBITDA came in higher by 63% on year at Rs 83.2 crore, the company informed in an exchange filing on February 5.

Shares of Thangamayil Jewellery are higher by nearly 8% at 3:30pm, shedding even sharper gains soon after the results were announced.

On a nine-month basis, the profit was at Rs 87.31 crore, lower YoY due to the absorption of import duty paid on inventory held on the date of realization in July 2024.

The board also approved a rights issue of up to Rs 510 crore at a price of Rs 1,400 per share in the ratio of 2:15, for which the record date has been set at February 11, 2025. The issue will open between February 21 and March 4, 2025.

Thangamayil added that its expansion plan is gaining momentum in and around Chennai, with eight more lease agreements for retail outlets. The company added that if the rising gold prices persist, it would have a moderate adverse impact on volume offtake. Though, on the realization front, Thangamayil sees positive impact during the fourth quarter of this fiscal.

The jeweller added that Basant Panchami for 2025 had resulted in 54% higher revenue compared to last year at Rs 102.45 crore.