Shares of Thangamayil Jewelery are up 19%, up 50% in 4 sessions. What fuels the sharp wave?

Shares of Thangamayil Jewelery rose as much as 19% to a record high of Rs 3,089 in the morning deals on Tuesday, November 4, extending gains for the fourth consecutive session on the bourses. With today’s rise, the stock is up almost 50% over the past four sessions.The renewed buying interest follows the company’s strong turnaround in September quarter results and record performance in October. The jeweler reported a net profit of Rs 58.5 crore for the quarter ended September, compared to a loss of Rs 17.4 crore in the same period last year.

Operating revenues rose 45% year-on-year from Rs 1,181 crore to Rs 1,711 crore, driven by robust festive demand and strong retail growth. The company’s operating performance also improved sharply, with EBITDA rising to Rs 106.2 crore, compared to an EBITDA loss of Rs 7.5 crore a year ago. EBITDA margin was 6.2%, marking a strong recovery from last year’s negative base.

In a separate development, the company announced that sales crossed the Rs 1,000 crore mark for the first time in October 2025, reaching Rs 1,032 crore – up 178% from Rs 371 crore in October 2024. The volume of gold ornaments rose 77% year-on-year from 432 kg to 764 kg.

Thangamayil said while gold price fluctuations make it difficult to predict revenue trends for the remaining months of FY26, the newly opened metro points in Chennai are performing satisfactorily.

The gold jewelery segment posted a 44% increase in sales to Rs 1,501 crore, while the non-gold segment (including silver, diamonds and other products) recorded a 52% increase to Rs 135 crore. Non-gold sales now account for 8.25% of total retail sales, up 38 basis points from 7.87% last year. For the first half of FY26, the company reported a 167% increase in net profit to Rs 104 crore, while revenue from operations grew 36% to Rs 3,260 crore.
Thangamayil shares are up 53% this year.

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