Thangamayil flags weak Q2 jewellery demand despite 71% Q1 revenue growth
Thangamayil Jewellery reported Q1 FY27 revenue of ₹2,666.4 crore and net profit of ₹85 crore, but shares hit a 10% lower circuit after management said the first 28 days of Q2 showed no visible sales improvement. Higher import duty, rupee weakness and geopolitical uncertainty are delaying purchases.
Thangamayil Jewellery posted strong Q1 FY27 revenue and profit growth, but shares hit a 10% lower circuit after management warned of weak Q2 demand. Higher gold import duty, rupee depreciation, West Asia conflict uncertainty and delayed purchases are suppressing jewellery offtake.
Why this matters
The update contrasts with recent signals that Thangamayil's Q1 FY27 profit nearly doubled and revenue rose 71%, while shares fell 10% despite the growth. Management's Q2 commentary shifts focus from reported earnings to current demand.
retail-company is accelerating, with a +404233% QoQ trend.