Synopsis:
Thangamayil Jewellery and D.P. Abhushan reported strong Q2 results with sharp profit turnaround and robust sequential performance. Both stocks surged sharply, reflecting renewed investor confidence in regional jewellery demand.
Two regional jewellery retail companies delivered very strong Q2 results and have now come back sharply on radar due to extremely strong sequential improvement and major YoY turnaround in profitability. Both operate heavily in traditional gold driven consumption markets in India where festive plus wedding demand cycles are structurally very deep.
Thangamayil Jewellery Ltd is a South India-based jewellery retail chain primarily focused on gold, silver, diamond and platinum jewellery with strong presence across Tamil Nadu. The company operates a multi-format store model targeting semi urban, Tier 2 & Tier 3 cities and is known for regional brand depth, controlled expansion and demand resilience driven by traditional wedding / festive gold buying cycles.
With market capitalization of Rs. 8,092 cr, the shares of Thangamayil Jewellery Ltd closed at Rs. 2,603.50 per share, locked at 20% upper circuit in today’s market session, from its previous close of Rs. 2,169.60 per share.
QoQ performance
Thangamayil Jewellery reported healthy sequential improvement with Sales rising 10% QoQ to Rs. 1,711 Cr from Rs. 1,558 Cr. EBITDA increased 22% QoQ to Rs. 106 Cr from Rs. 87 Cr while Net Profit grew 28% QoQ to Rs. 58.5 Cr from Rs. 45.7 Cr. EPS also improved 28% QoQ to Rs. 18.82 vs Rs. 14.71 last quarter.
YoY performance
YoY momentum was extremely strong with Sales up 45% from Rs. 1,181 cr to Rs. 1,711 cr, EBITDA saw a turnaround to Rs. 106 cr from a loss of Rs. 7.45 cr and Net Profit also saw a turnaround to Rs. 58.5 cr from a loss of Rs. 17.4 cr. EPS also a true truenaround from – Rs. 5.61 last year to Rs. 18.82 this quarter.
D.P. Abhushan Ltd is a leading jewellery retail company based in Central India, primarily engaged in the business of manufacturing, trading and retailing gold, diamond and silver jewellery. The company operates multiple showrooms under its brand “D.P. Jewellers” across Madhya Pradesh and neighbouring regions, known for its craftsmanship, purity assurance and strong regional customer loyalty.
With market capitalization of Rs. 3,365 cr, the shares of D.P. Abhushan closed at 1,474.70 per share, jumped 11% in today’s market session making a high of Rs. 1,563.90, from its previous close of Rs. 1,412 per share.
QoQ performance
D.P. Abhushan posted strong sequential performance with sales rising 79% QoQ to Rs. 968 Cr in Q2FY26 from Rs. 540 Cr Q1FY26. EBITDA increased 39% QoQ to Rs. 75.7 Cr from Rs. 54.3 Cr, while Net Profit jumped 42% QoQ to Rs. 51.5 Cr from Rs. 36.4 Cr. EPS also improved 40% QoQ to Rs. 22.54 from Rs. 16.07 in Q1.
YoY performance
On a YoY basis, Sales dipped marginally 4% from Rs. 1,005 cr to Rs. 968, however, profitability improved materially with EBITDA up 99% to Rs. 75.7 cr from Rs. 38 cr and Net Profit rising 105% from Rs. 25.1 cr to Rs. 51.5 cr. EPS also increased 103% YoY from Rs. 11.11 to Rs. 22.54.
Written by Manideep Appana
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