DINESH

Thangamayil Jewellery

Industry: Jewellery
Latest CMP 5,427
Today's Change ▲ 2.98%
52-Week High / Low 7,310 | 1,945
Price Date: 14-Aug-2026
Recommendation Buy
Target Price 8,060
Expected Upside 21.9%
Forecast Horizon 2 Years
Historical CAGR 36.2%
1,000 Invested 19-Feb-2010
Today's Value 162,596
Investment Period 16 Years

Stock Snapshot

Post Results Return
-18.5%
Negative Re-rating
1-Year Target Price
7,388
2-Year Target Price
8,060
52-Week High / Low
7,310 / 1,945
20-Day Return
-14.8%
Market Cap (Cr.)
16,878
Current PE
56.2
P/BV Ratio
11.9
Dividend Yield
0.5%
Industry PE
22.2

Price Performance

Basis of our Recommendation

Thangamayil Jewellery's recent management commentary highlights a robust growth trajectory, particularly driven by new retail outlets in Chennai and a strategic focus on a 'Digital-first' omnichannel approach. This aligns with Vista's forecast of moderated revenue growth, as the company adapts to evolving consumer preferences and leverages data analytics for enhanced customer engagement. The jewellery sector's resilience, bolstered by strong wedding demand and improving pricing power, supports Thangamayil's competitive position, although the company faces headwinds from rising gold prices that could pressure margins. Vista's outlook anticipates stable profit margins and a premium valuation, reflecting investor sentiment despite the challenges posed by gold price volatility. Over the next 12-24 months, key opportunities include expanding low-weight product ranges and tapping into rural markets, while watchpoints include the potential impact of gold price fluctuations and the company's ability to maintain operational efficiencies. Overall, Thangamayil is well-positioned to navigate the current landscape, with a focus on strategic growth initiatives and cost management

👍 Why We Like This Stock

  • Strong demand driven by festive and wedding seasons enhances revenue potential
  • Expansion of retail outlets and a digital-first strategy are expected to drive customer engagement and sales
  • Operational efficiencies and disciplined inventory management support stable margins

Things To Watch Out For

  • Rising gold prices pose a risk to profit margins and overall profitability
  • High current valuations may limit short-term growth potential
  • Volatility in gold and silver prices remains a significant industry challenge

Key Parameters

Balance Sheet Strength
Stable Financial Structure
Market Share
Stable
Industry Outlook
Improving
Analyst View
Hold
Dividend History
Consistent
FII Holdings
Increasing

Financial Snapshot

Actuals Forecast
FY24 FY25 FY26 FY27 FY28
Revenue (Cr.) 3,827 4,911 8,514 9,290 11,093
Profit Before Tax (Cr.) 165 160 471 470 579
PBT Margin 4.3% 3.3% 553.2% 5.1% 5.2%
Net Profit (Cr.) 123 118 352 351 432
Earnings Per Share 39.5 37.9 113.2 112.8 138.8

Analyst Recommendations

Broker Recommendation Target Price Date
Moneycontrol ► Equalweight 11-Jun-2026
Consensus Recommendation ► Hold
Consensus Target
Coverage 1 Analysts
Analysts' Viewpoint
Thangamayil Jewellery benefits from robust demand during festive and wedding seasons, alongside strategic store expansion and targeting of urban markets. However, analysts express caution due to high valuations and potential margin pressures from increasing gold prices. These factors contribute to a balanced hold consensus, reflecting both the company's growth drivers and the challenges it faces in maintaining profitability amidst fluctuating market conditions.

Company Overview

Show Company Profile

Thangamayil Jewellery Limited operates a chain of retail jewelry stores in India. The company offers gold, diamond, silver, precious stones, and platinum jewelries, as well as silver articles and gold coins. It also involved in the manufacture and sale of jewelry, and other accessories and products. In addition, the company offers gold saving schemes. It provides its products through online. Thangamayil Jewellery Limited was founded in 1947 and is headquartered in Madurai, India.