Thangamayil’s Q1 revenue rises 71%, but duty shock clouds near-term gold demand
Thangamayil Jewellery reported Q1 FY27 revenue of Rs 2,666.38 crore and net profit of Rs 85.09 crore, up sharply year on year. Sequential sales softened as higher gold import duty, rupee weakness and geopolitical uncertainty delayed purchases; management expects deferred demand to return in H2.
Thangamayil Jewellery reported strong Q1 FY27 year-on-year profit and revenue growth, but sequential sales weakened as higher import duty, rupee depreciation and West Asia war uncertainty delayed gold purchases. Management saw no early Q2 recovery but expects deferred demand in H2 FY27.
Why this matters
The result follows signals that Q1 FY27 profit nearly doubled to Rs 85 crore, shares fell 10% despite revenue growth, and Thangamayil flagged weak Q2 jewellery demand.
Retail-company signals are accelerating, up +310125% QoQ.