Thangamayil Jewellery (THANGAMAYL) Q3 25/26 earnings summary

Executive summary

• Revenue for Q3 FY26 surged 112% year-over-year to ₹2,401 Cr, with retail sales up 109% and gold jewellery sales up 109%.

• For the nine months ended Dec 31, 2025, revenue reached an all-time high of ₹5,661 Cr, up 60% year-over-year.

• Profit after tax for Q3 FY26 rose 119% year-over-year to ₹105 Cr; nine-month PAT increased 140% to ₹209 Cr.

• Chennai Metro outlets contributed 17% of total sales, with a full-year target of 20%.

Financial highlights

• Gross profit for Q3 FY26 was ₹256 Cr, up 91% year-over-year; gross profit margin declined 105 bps to 11.19%.

• EBITDA for Q3 FY26 was ₹170 Cr, up 105% year-over-year; EBITDA margin slightly decreased to 7.43%.

• For the nine months, gross profit doubled to ₹607 Cr and EBITDA rose 117% to ₹362 Cr.

• EPS for nine months FY26 was ₹67.24, up from ₹31.82 in FY25.

Outlook and guidance

• Board expects no impact from temporary postponement of new metro-based outlets due to precious metal price volatility; expansion to resume post-stabilization.

• Liquidity remains strong with ₹311 Cr available, supporting ongoing operations.