Thangamayil Jewellery (THANGAMAYL) Q4 25/26 earnings summary

Executive summary

• Achieved 73% year-over-year retail sales growth to ₹8,159 Cr for FY26, with total sales at ₹8,499 Cr and 66 retail outlets in operation.

• Gross profit margin improved to 11.26% (up 215 bps YoY), EBITDA margin rose to 7.07% (up 231 bps YoY), and EPS surged to ₹113.14 from ₹42.00.

• Board recommended a final dividend of ₹18 per share (180%), totaling ₹5,595 lakhs, subject to AGM approval.

Financial highlights

• FY26 profit before tax was ₹469 Cr (up 193% YoY), and profit after tax reached ₹352 Cr (up 195% YoY).

• Gross profit for FY26 was ₹919 Cr (up 114% YoY), EBITDA at ₹577 Cr (up 156% YoY).

• Inventory turnover improved to 3.45 times, interest coverage ratio increased to 8.52 times.

• Net worth rose to ₹1,41,600 lakhs, book value per share increased to ₹456.

• Cash and cash equivalents at year-end were ₹12,418 lakhs, up from ₹8,856 lakhs.

Outlook and guidance

• Management expects continued performance improvement in FY27, supported by Chennai Metro Phase II expansion.

• Import duty hike on gold and silver may impact demand, but inventory gains of ~₹60 Cr are anticipated.