Thangamayil posts 71% Q1 revenue growth as higher gold duty clouds early-Q2 demand
Thangamayil Jewellery reported Q1 FY27 revenue of Rs 2,666.38 crore, up 71.16% year on year, and net profit of Rs 85.09 crore, up 86.15%. Management said a higher gold import duty, rupee weakness and remittance uncertainty have deferred purchases in early Q2, with recovery expected as conditions stabilise.
Thangamayil Jewellery reported strong Q1 FY27 growth but warned that higher gold import duty, rupee depreciation, deferred buying and West Asia-related remittance uncertainty weakened early Q2 demand. It expects deferred purchases to return after conditions stabilise, supporting a potential H2 FY27 recovery.
Why this matters
The result follows signals that Q1 profit jumped 86% as shares fell 27% in three days and that management expected H2 gold-demand recovery after Q1 retail revenue rose 67%. The duty shock adds a near-term demand risk.
retail-company is accelerating, up 226467% QoQ.