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Thangamayil Jewellery Ltd.
(THANGAMAYL)
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Rating:61Neutral
Price Target:
₹5,522.00
▲(4.71% Upside)
Action:Reiterated
Date:08/01/26
The score is supported by a meaningful 2026 earnings rebound (strong sales growth and improving margins) and improved leverage/ROE, but it is held back by historically volatile cash generation, weaker near-term technical positioning (below 20D/50D), and a high P/E with a low dividend yield.
Positive Factors
Revenue & Margin Recovery
A material revenue rebound and expanding operating and net margins in 2026 indicate better sales momentum, pricing or mix improvements. This strengthens medium-term earnings power and cash generation potential, improving the firm's ability to invest and withstand cyclical softness.
Negative Factors
Volatile Cash Generation
Intermittent operating and free cash flow undermines predictability of internal funding and increases dependence on debt or equity. For an inventory-intensive retailer, erratic cash generation raises rollover and liquidity risk during lean sales periods or gold-price dislocations.
Read all positive and negative factors
Positive Factors
Negative Factors
Revenue & Margin Recovery
A material revenue rebound and expanding operating and net margins in 2026 indicate better sales momentum, pricing or mix improvements. This strengthens medium-term earnings power and cash generation potential, improving the firm's ability to invest and withstand cyclical softness.
Read all positive factors
Thangamayil Jewellery Ltd. (THANGAMAYL) vs. iShares MSCI India ETF (INDA)
Market Cap
₹159.62B
Dividend Yield0.35%
Average Volume (3M)12.40K
Price to Earnings (P/E)40.7
Beta (1Y)0.44
Revenue Growth83.21%
EPS Growth252.74%
CountryIN
Employees3,450
SectorGeneral
Sector StrengthN/A
IndustryLuxury Goods
Share Statistics
EPS (TTM)125.80
Shares Outstanding31,082,022
10 Day Avg. Volume4,389
30 Day Avg. Volume12,396
Financial Highlights & Ratios
PEG Ratio0.19
Price to Book (P/B)7.80
Price to Sales (P/S)1.30
P/FCF Ratio44.43
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)137.17
Revenue Forecast (FY)₹106.55B
Thangamayil Jewellery Ltd. Business Overview & Revenue Model
Company Description
Operating a chain of jewelry retail establishments across India, Thangamayil Jewellery Limited specializes in a broad array of precious items. Their collection features exquisite pieces crafted from gold, diamonds, silver, and platinum, alongside ...
How the Company Makes Money
Thangamayil Jewellery primarily makes money by selling jewellery through its retail showroom network. Its core revenue stream is the retail sale of gold jewellery, where earnings are driven by (a) the value of gold content sold (which varies with ...
Thangamayil Jewellery Ltd. Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
74
Positive
Cash Flow
55
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 96.13B | 84.99B | 49.11B | 38.27B | 31.53B | 21.93B |
| Gross Profit | 9.59B | 9.19B | 4.30B | 3.53B | 2.97B | 1.98B |
| EBITDA | 6.34B | 5.77B | 2.19B | 2.12B | 1.51B | 841.24M |
| Net Income | 3.91B | 3.52B | 1.19B | 1.23B | 797.40M | 385.50M |
Balance Sheet | ||||||
| Total Assets | 0.00 | 38.20B | 25.59B | 14.81B | 12.47B | 9.05B |
| Cash, Cash Equivalents and Short-Term Investments | 1.24B | 4.51B | 885.60M | 135.70M | 771.70M | 36.50M |
| Total Debt | 0.00 | 9.13B | 7.97B | 5.32B | 5.71B | 4.20B |
| Total Liabilities | -14.16B | 24.04B | 14.57B | 9.88B | 8.58B | 5.81B |
| Stockholders Equity | 14.16B | 14.16B | 11.02B | 4.93B | 3.89B | 3.24B |
Cash Flow | ||||||
| Free Cash Flow | -1.53B | 2.48B | -4.82B | 2.93B | -213.60M | -950.98M |
| Operating Cash Flow | -1.09B | 3.22B | -4.24B | 3.30B | 104.40M | -790.71M |
| Investing Cash Flow | -933.60M | -1.65B | -1.38B | -296.50M | -864.20M | -211.22M |
| Financing Cash Flow | 1.25B | -1.22B | 6.37B | -2.93B | 779.90M | 935.44M |
Thangamayil Jewellery Ltd. Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | ₹620.32B | 43.25 | ― | 0.42% | 45.75% | 78.91% | |
63 Neutral | ₹56.78B | 9.94 | ― | 0.29% | 41.91% | 165.71% | |
61 Neutral | ₹159.62B | 40.75 | ― | 0.35% | 83.21% | 252.74% | |
60 Neutral | ₹4.44T | 77.05 | ― | 0.30% | 45.05% | 55.13% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
55 Neutral | ₹133.03B | 13.84 | ― | 0.64% | 36.47% | -8.71% | |
53 Neutral | ₹90.31B | 18.67 | ― | ― | 47.77% | 76.71% |
* General Sector Average
IN:THANGAMAYL
Thangamayil Jewellery Ltd.
5,135.45
2,971.36
137.30%
IN:KALYANKJIL
Kalyan Jewellers India Ltd.
600.65
97.95
19.48%
IN:PCJEWELLER
PC Jeweller Ltd.
13.70
0.49
3.71%
IN:PNGJL
P N Gadgil Jewellers Limited
613.50
12.70
2.11%
IN:SENCO
Senco Gold Limited
346.45
-23.29
-6.30%
IN:TITAN
Titan Company Limited
5,005.00
1,482.31
42.08%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.