THANGAMAYLThangamayil Jewellery Ltd.
Thangamayil Jewellery Q2 FY27 Results: Standalone Net Profit ₹59.45 Crore on Total Income of ₹5,043 Crore
- Earnings
- Gold jewellery retail
Reviewed byRachit TripathiBlacklitt Research
Thangamayil Jewellery (NSE: THANGAMAYL) reported standalone total income of ₹5,043 crore and net profit of ₹59 crore for the quarter ended 30 Sep 2026, it said in a filing on 04 Nov 2026. The figures are unaudited and reviewed by the statutory auditor.
Key highlights
Standalone
The company on its own, without its subsidiaries
- Total income: ₹5,043.31 crore, up 54.7% YoY and 89.1% QoQ
- Net profit: ₹59.45 crore, up 1.6% YoY and down 30.1% QoQ
- EPS: ₹46.51 basic, against ₹33.53 a year earlier
- Gold and silver price effect: ₹28.54 crore on gross profit in the quarter, per the company
Summary
| Particulars | Q2 FY27 | Q2 FY26 | YoY | Q1 FY27 | QoQ |
|---|---|---|---|---|---|
| 5,043.31 | 3,259.92 | +54.7% | 2,666.38 | +89.1% | |
| Revenue from operations | 5,036.54 | 3,253.62 | +54.8% | 2,662.45 | +89.2% |
| Other income | 6.77 | 6.30 | +7.5% | 3.93 | +72.3% |
| 59.45 | 58.51 | +1.6% | 85.09 | -30.1% | |
| Finance costs | 88.04 | 67.06 | +31.3% | 17.69 | +397.7% |
| Depreciation | 12.41 | 11.06 | +12.2% | 11.47 | +8.2% |
| Tax expense | 20.30 | 19.88 | +2.1% | 30.40 | -33.2% |
| Net profit margin | 1.18% | 1.79% | -0.62 pp | 3.19% | -2.01 pp |
| Tax as share of profit before tax | 25.5% | 25.4% | +0.09 pp | 26.3% | -0.87 pp |
| EPS, basic (₹) | 46.51 | 33.53 | +38.7% | 27.38 | +69.9% |
Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.
Total income grew much faster than net profit. Standalone total income rose 54.7% YoY to ₹5,043.31 crore, while net profit rose only 1.6% to ₹59.45 crore, so the net profit margin fell from 1.79% to 1.18%. Revenue from operations, at ₹5,036.54 crore, accounts for almost all of the income, and other income of ₹6.77 crore is 0.1% of total income.
Finance costs rose 31.3% YoY to ₹88.04 crore, which is 1.7% of total income in the quarter. Depreciation rose 12.2% to ₹12.41 crore. Tax of ₹20.30 crore is 25.5% of profit before tax, close to the 25.4% a year earlier, so the tax rate did not change much between the two quarters.
Against the first quarter of FY27, net profit fell 30.1% while total income rose 89.1%. The company says gold and silver price changes and wide fluctuations in those prices reduced gross profit by ₹28.54 crore in the quarter and by ₹59.27 crore in the half year. It also says gross profit margin fell from 11.25% to 9.8% on its annexure figures and attributes the EPS fall to that margin. The filing gives no reason for the price changes beyond the price movements themselves.
Inference
The filing reports the approval of two additional directors, Mr. B. Rajesh Kanna as Whole-Time Director and Mr. K. Thiagarajan as Independent Director, each for a term from 4 Nov 2026 to 3 Nov 2031, subject to shareholder approval. The filing does not say when shareholders will vote.
The company paid a dividend of ₹18.00 per share, totalling ₹55.95 crore, in the quarter. The filing gives a half-year net worth of ₹1,505.03 crore and a half-year return on equity of 19.79%. The filing does not say what dividend or borrowing plans follow from these figures.
Filed with BSE on . Reference: Original filing (PDF)
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