Thangamayil Jewellery Q4 FY26 profit jumps 354% YoY

Earnings date and why this update matters

Thangamayil Jewellery Ltd (NSE: THANGAMAYL, BSE: 533158) has earnings expected on 15/05/2026, keeping the stock on many investors’ radars in the Diamond and Jewellery space. The company has also been in focus after a sharp increase in reported profitability and revenue for the quarter and year ended March 2026. In the March 2026 quarter, standalone net profit rose 354.33% to ₹142.66 crore, compared with ₹31.40 crore in the March 2025 quarter. Sales for the same period rose 105.59% to ₹2,838.21 crore from ₹1,380.50 crore.

The March 2026 print adds to a broader run of strong operating metrics highlighted in the company’s recent quarterly data, including notable quarter-on-quarter revenue growth in earlier periods. Market participants typically track jewellery retailers closely for demand trends, gold price-linked working capital swings, and margin sensitivity to duty changes and promotional spends. The company’s disclosures also point to how one-time factors in FY25 affected reported performance, which provides useful context for the FY26 rebound.

Stock snapshot and recent trading references

On the BSE, the stock was quoted at ₹3,661.90, up ₹39.65 (1.09%) at 01:55 PM (as per the provided market snapshot). Separately, another update in the provided data notes the share price moved up 7.52% from a previous close of ₹3,543.80, with the stock last traded at ₹3,810.00. The dataset also references a period when Thangamayil Jewellery surged about 19% to a record high of ₹3,089 after reporting a strong turnaround in the September-quarter results and record October sales.

These figures relate to different points in time, but they collectively show heightened volatility and investor attention around result-driven catalysts, festive season demand, and monthly sales milestones.

March 2026 quarter: profit and revenue surge

The key March 2026 quarter numbers highlight a sharp jump in both the top line and the bottom line. Net profit increased to ₹142.66 crore in the quarter ended March 2026 versus ₹31.40 crore in the quarter ended March 2025. Revenue (sales) increased to ₹2,838.21 crore from ₹1,380.50 crore over the same comparison period.

The scale of growth suggests a materially stronger operating environment compared with the base quarter. For jewellery retailers, quarterly outcomes can be influenced by festive and wedding season demand, price movements in gold and silver affecting realizations, and the timing of promotions and store additions. The company’s earlier disclosures about customs duty absorption and promotional spends in FY25 also indicate that comparables may include one-time costs that did not repeat at the same intensity.

Full-year FY26: strong annual growth

For the full year ended March 2026, Thangamayil Jewellery reported net profit of ₹351.65 crore, up 196.23% from ₹118.71 crore in the year ended March 2025. Sales for FY26 increased 73.08% to ₹8,499.33 crore, compared with ₹4,910.58 crore in FY25.

These annual numbers are important because they smooth out quarter-specific demand spikes and short-term cost pressures. They also provide a clearer view of how the company performed across multiple buying seasons. FY26’s annual growth, as presented, indicates a step-up in scale, with profits rising faster than revenue on the year-on-year comparison.

What the quarterly trend data shows (Dec 2024 to Dec 2025)

The provided quarterly table (all figures in ₹ crore) shows net sales increasing from ₹1,132.46 crore in Dec 2024 to ₹2,405.82 crore in Dec 2025. Over the same period, profit after tax moved from ₹48.19 crore (Dec 2024) to ₹104.78 crore (Dec 2025). Adjusted EPS rose from ₹17.02 to ₹33.71 across those quarters.

Another dataset in the provided material flags that the company witnessed QoQ revenue growth of 40.62%, stated as the highest in the last three years (based on standalone financials). It also notes that, in the year ending Mar 31, 2025, interest expenses were less than 1% of operating revenues and employee cost was 1.9% of operating revenues (based on standalone financials). These metrics are commonly monitored for retailers because they indicate how much of the operating scale is being consumed by financing and manpower costs.

FY25 context: customs duty change and one-time items

The FY25 narrative in the provided text offers context on why profitability can fluctuate sharply in this business. It states that after a strong start, a steep reduction in customs duty introduced with immediate effect on 24/07/2024 led to a loss of ₹15.47 crore on sale of high duty paid inventory in Q2 FY25. The same narrative indicates Q3 saw a return to normalcy after liquidation of high duty paid inventory.

The company also noted FY25 one-time factors in a separate summary: incremental depreciation of ₹7.33 crore from expansion, ₹2.50 crore in additional employee costs, and inventory hedging adjustments worth ₹13.52 crore. Adjusting for these items, management stated normalized PBT would have been ₹223.81 crore, compared with the reported figure referenced in the same note.

Q2 FY26 and October: festive demand and operating recovery

The provided dataset also includes a separate market update tied to the September quarter and October sales. It states the jeweller reported a net profit of ₹58.5 crore for the quarter ended September, compared with a loss of ₹17.4 crore in the same period last year, alongside revenue growth of 45% YoY to ₹1,711 crore. It further states October revenue crossed ₹1,000 crore for the first time, with a cited figure of ₹1,032 crore, attributed to festive demand.

On operating performance, the same update mentions EBITDA rising to ₹106.2 crore from an EBITDA loss of ₹7.5 crore a year ago, with an EBITDA margin of 6.2%. For the first half of FY26, it states net profit rose 167% to ₹104 crore while revenue from operations grew 36% to ₹3,260 crore.

Key financial metrics and valuation indicators cited

The provided data lists the latest EPS of Thangamayil Jeweller at ₹77.3437. It also cites a P/E ratio of 46.8570807964967 and a P/B ratio of 8.85518602952136. Profitability ratios cited include ROE of 14.8803% and ROCE of 14.4307%.

Separately, the “Strengths” section in the dataset states the company has shown profit growth of 45.498505199308% over the past three years and revenue growth of 30.8252595990424% over the past three years. It also states the company has maintained healthy ROE of 21.7317333333333% over the past three years (as presented in the dataset).

Summary table: headline financials from the provided data

Dividend and CSR references from FY25 disclosures

The FY25 narrative in the provided text states that the Board of Directors, at its meeting held on 15 May 2025, recommended a final dividend of ₹12.50 per equity share (face value ₹10) for the financial year ended 31 March 2025. The same text states the company incurred CSR expenditure of ₹2.17 crore (₹217 lakh) during the financial year ended 31 March 2025.

What investors may track next

With earnings expected on 15/05/2026, investors are likely to watch for updates on demand momentum, operating costs linked to store additions, and how gold price movements are managed through inventory and hedging. The FY25 commentary in the provided material shows how quickly duty changes can affect inventory profitability, which remains a key monitorable. Investors may also track whether margins hold up during high-volume festive periods, given the earlier references to promotional expenses and marketing-led margin pressure.

The immediate takeaway from the provided results is that Thangamayil Jewellery posted a sharp year-on-year improvement in Q4 FY26 and a strong FY26 annual performance. The next concrete checkpoint, as stated, is the scheduled earnings update on 15/05/2026.