Thangamayil Q4 PAT triples to ₹142 cr as gold sales double; flags Modi demand-curb risk
South India jeweller posts Q4 revenue of ₹2,839 cr (+106%) with gold sales up 105% to ₹2,503 cr and non-gold up 141%. FY26 PAT hits ₹352 cr vs ₹118 cr. Store count rises to 66 from 60. Management warns of demand risk after PM's call to curb gold buying and higher import duty; exchange gold now 50-60% of sales vs 25% historic.
Thangamayil Jewellery's Q4FY26 net profit jumped to ₹142 cr on revenue of ₹2,839 cr, with store count up to 66. Company warned of demand risk following PM Modi's call to curb gold purchases and higher import duty.
Why this matters
Builds on prior Q4 print where profit quadrupled to ₹143 cr with an ₹18/share dividend, confirming a sharp earnings step-up even as management cautions on policy-driven gold demand risks.
Retail-company signals steady at 386 in last 90 days, with jewellers driving recent earnings momentum.