NSE: THANGAMAYL | BSE: 533158

Mid-range Performer

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2016.30 -47.80 (-2.32%)

32.38% Gain from 52W Low

16,858 NSE+BSE Volume

NSE 26 Sep, 2025 3:31 PM (IST)

6,270.2

Market Cap

High in industry

1.1

Beta 1Year

High Volatility

Thangamayil Jewellery Ltd. share price target and research reports

Name: Latest research reports of Thangamayil Jewellery Ltd. authored by HDFC Securities and published by - Trendlyne research reports.
Item: Thangamayil Jewellery Ltd.
Rating: 5
Author: HDFC Securities

Latest analyst research reports with target prices and PDF download for THANGAMAYL, BSE:533158 Thangamayil Jewellery Ltd.

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Thangamayil Jewellery Ltd.

14 Feb 2019

2016.30

-2.32%

Thangamayil (3QFY19): Hit by a double whammy! Maintain BUY

Buy: Thangamayil Jewellery Ltd.

Target

HDFC Securities

We reiterate a BUY rating with DCF based TP of Rs 590/sh (implied P/E - 17x Dec-20E EPS). Thangamayils (TJL) net revenue grew by 8.3% missing estimates (est. growth: 18.4%) as gold volume declined (-1.5% YoY) despite shift of festive season to 3Q (missing in 3QFY18). The quarter witnessed a double-whammy of high gold prices (+8% YoY) and natural calamity (Cyclone Gaja) in Tamil Nadu region which dented gold demand.

Thangamayil Jewellery Ltd. is trading below its 30 day SMA of 2148.0

Thangamayil Jewellery Ltd.

15 Nov 2018

2016.30

-2.32%

Thangamayil (2QFY19): Turnaround story intact. Maintain BUY

Buy: Thangamayil Jewellery Ltd.

HDFC Securities

We reiterate a BUY rating with DCF based TP of Rs 625/sh (implied P/E - 18x Sept-20E EPS). Thangamayils (TJL) net revenue grew by 32.5% in-line with our estimate; albeit on a favourable base (13% de-growth in base quarter due to pre-GST preponement of sales in 1QFY18). The bump up in sales is largely SSSG-led (store renovations-led) as gold/silver volume increased by 33/21% despite shift of festive season to 3Q. In spite of the strong top-line growth, gross margin cracked 37bps to 8.5% (est.: 9.9%) led by change in product mix and higher discounted sales. EBITDA margins expanded 10bps to 4.5% as op lev gains kicked in.

Thangamayil Jewellery Ltd. is trading above its 200 day SMA of 1927.9

Thangamayil Jewellery Ltd.

01 Aug 2018

2016.30

-2.32%

Thangamayil (1QFY19): Disappointing quarter. Maintain BUY

Buy: Thangamayil Jewellery Ltd.

HDFC Securities

We revise our DCF-based TP to Rs 625/sh (earlier Rs 650/sh; implied P/E - 23xFY20E EPS) on moderating expectations of growth. Reiterate BUY. Thangamayils (TJL) net revenue declined by 10.8% missing estimates (est. growth: 4.4%) as volume across products declined; albeit on a high base. (Note: base quarter comprises of a Pre-GST bump up in throughput). Gold jewellery/Silver product volumes declined 9/2% YoY respectively. Despite the top-line disappointment, TJL managed to more than salvage margins led by better product mix. Gross/EBITDA margins expanded 110bp each to 9.7/5.7%.

Thangamayil Jewellery Ltd.'s price crossed below 50Day SMA today

Is Thangamayil Jewellery Ltd. worth buying?

107 Votes:

Buy 81.31%

Sell 10.28%

Hold 8.41%