Thangamayil Jewellery (THANGAMAYL) Q3 24/25 earnings summary

Executive summary

• Retail sales grew 28% year-over-year in Q3 2025, reaching Rs.1,095 Crs, with total sales up 26% to Rs.1,131 Crs.

• Gross profit increased 38% year-over-year to Rs.134 Crs, and reported EBITDA rose 63% to Rs.83 Crs in Q3 2025.

• Profit after tax (PAT) for Q3 2025 was Rs.48 Crs, up 71% year-over-year.

• For the nine months ended December 31, 2024, retail sales rose 24% year-over-year to Rs.3,404 Crs.

Financial highlights

• Q3 2025 net sales: Rs.1,13,164 lakhs; total income: Rs.1,13,246 lakhs.

• Q3 2025 profit before tax: Rs.6,745 lakhs; profit after tax: Rs.4,819 lakhs.

• Nine months ended Dec 2024: revenue Rs.3,53,007 lakhs, EBITDA Rs.27,031 lakhs, PAT Rs.8,731 lakhs.

• EPS for Q3 2025: Rs.17.56; for nine months: Rs.31.82.

• Gross profit margin for nine months expanded by 79 bps to 9.70%.

Outlook and guidance

• Expansion plans progressing, with lease arrangements for up to 8 new outlets in Chennai and at least 3 more openings planned in Q4 2025.

• Right issue of Rs.510 Crs approved at Rs.1,400 per share, record date set for 11/02/2025.

• Sustained increase in gold and silver prices may moderately impact volume but benefit realizations in Q4 2025.