For Q2 FY26, the company’s total sales jumped 45% year-on-year to Rs 1,705 crore from Rs 1,178 crore in Q2 FY25. Retail sales, which form the core of its business, surged 45% to Rs 1,636 crore, while wholesale revenue rose 47% YoY to Rs 69 crore.
Within the retail segment, gold jewellery sales climbed 44% YoY to Rs 1,501 crore, while the non-gold category (including silver, diamonds, and other products) expanded 52% to Rs 135 crore, reflecting strong traction in lifestyle and premium products. Non-gold sales now contribute 8.25% of total retail sales, up 38 basis points from 7.87% a year ago.
Gross profit leapt 360% YoY to Rs 184 crore, while the gross profit margin improved sharply by 771 basis points to 11.25%, compared with 3.54% in Q2 FY25.
EBITDA stood at Rs 106 crore, against a loss of Rs 7 crore in the same quarter last year, with EBITDA margin improving to 6.48% from a negative 0.62% last year.
The company’s profit before tax (PBT) stood at Rs 78 crore, compared with a loss of Rs 24 crore in Q2 FY25. Profit after tax (PAT) came in at Rs 59 crore, marking a turnaround from a loss of Rs 17 crore a year ago.
Operationally, gold ornament volumes grew 2% YoY to 1,513 kg, silver products rose 23% to 5,636 kg, and diamond product volumes increased 18% to 4,184 carats, highlighting broad-based growth across categories.
While inventory turnover slipped to 2.87x from 3.27x, the company’s interest cover improved dramatically to 6.52x, compared with (0.70x) in Q2 FY25.
Adding to the momentum, Thangamayil achieved a milestone in October 2025, clocking monthly revenue of Rs 1,032 crore — the first time in its history crossing the Rs 1,000 crore mark. This represents a 178% YoY surge from Rs 371 crore in October 2024, driven by strong festive demand and new store contributions. Gold volumes during the month rose 77% YoY to 764 kg.
During the quarter, the company opened further seven outlets taking the net retail outlets tally to 66.
Thangamayil Jewellery is engaged in the business of gold jewellery, diamond and silver articles.