Thangamayil Jewellery shares slip 5% in a month, rally 68% in six months; analysts turn cautious
The Tamil Nadu-based firm reported a net profit of Rs 58.51 crore in Q2 FY26, reversing a loss of Rs 17.45 crore in the same quarter a year ago.
- Dec 7, 2025,
- Updated Dec 7, 2025 11:36 AM IST
Shares of Thangamayil Jewellery Ltd declined around 5 per cent over the past one month, even as the stock surged nearly 68 per cent over the last six months following the jeweller's return to profitability in the July–September quarter (Q2 FY26).
The Tamil Nadu-based firm reported a net profit of Rs 58.51 crore in Q2 FY26, reversing a loss of Rs 17.45 crore in the same quarter a year ago. Revenue from operations rose 44.86 per cent year-on-year (YoY) to Rs 1,710.90 crore, compared with Rs 1,181.05 crore in Q2 FY25, reflecting strong business momentum during the festive quarter.
In a separate disclosure, the company said its October 2025 revenue surged to Rs 1,032 crore, surpassing the Rs 1,000-crore monthly milestone for the first time in its history. This marked a 178 per cent jump from Rs 371 crore recorded in October 2024. Alongside revenue growth, gold ornament volumes increased 77 per cent YoY to 764 kg from 432 kg, indicating higher customer demand and improved throughput at retail outlets.
The management highlighted that volatility in gold prices continues to create challenges in forecasting demand and margins. However, it stated that the newly launched Chennai metro stores are performing well and contributing positively to overall business growth.
From a technical perspective, a few market experts have turned cautious on the stock's near-term trend.
Sebi-registered analyst AR Ramachandran said the stock is bearish on daily charts, with strong resistance placed at Rs 3,280 and key support at Rs 3,129. He noted that a daily close below this support could lead to a decline towards Rs 2,985 in the near term.
Ravi Singh, Chief Research Officer at Mastertrust, also flagged weakness on charts, stating that the stock could drift towards the Rs 2,950 zone, while immediate upside may remain capped near Rs 3,250.
As of September 2025, promoter holding in the company stood at 61.56 per cent.
Shares of Thangamayil Jewellery Ltd declined around 5 per cent over the past one month, even as the stock surged nearly 68 per cent over the last six months following the jeweller's return to profitability in the July–September quarter (Q2 FY26).
The Tamil Nadu-based firm reported a net profit of Rs 58.51 crore in Q2 FY26, reversing a loss of Rs 17.45 crore in the same quarter a year ago. Revenue from operations rose 44.86 per cent year-on-year (YoY) to Rs 1,710.90 crore, compared with Rs 1,181.05 crore in Q2 FY25, reflecting strong business momentum during the festive quarter.
In a separate disclosure, the company said its October 2025 revenue surged to Rs 1,032 crore, surpassing the Rs 1,000-crore monthly milestone for the first time in its history. This marked a 178 per cent jump from Rs 371 crore recorded in October 2024. Alongside revenue growth, gold ornament volumes increased 77 per cent YoY to 764 kg from 432 kg, indicating higher customer demand and improved throughput at retail outlets.
The management highlighted that volatility in gold prices continues to create challenges in forecasting demand and margins. However, it stated that the newly launched Chennai metro stores are performing well and contributing positively to overall business growth.
From a technical perspective, a few market experts have turned cautious on the stock's near-term trend.
Sebi-registered analyst AR Ramachandran said the stock is bearish on daily charts, with strong resistance placed at Rs 3,280 and key support at Rs 3,129. He noted that a daily close below this support could lead to a decline towards Rs 2,985 in the near term.
Ravi Singh, Chief Research Officer at Mastertrust, also flagged weakness on charts, stating that the stock could drift towards the Rs 2,950 zone, while immediate upside may remain capped near Rs 3,250.
As of September 2025, promoter holding in the company stood at 61.56 per cent.