Thangamayil Jewellery Ltd

Thangamayil Jewellery Ltd

₹ 1,333 0.35%
23 Apr - close price
About

Thangamayil Jewellery Limited operates a chain of retail jewellery stores across several districts in Tamil Nadu, a state that have the largest share (40%) of India's total gold consumption.

The company primarily deals with four product lines, i.e., Gold, Silver, Diamonds and Platinum; the sale of gold being a predominant source of its income.

TMJL has also established four manufacturing units that employ in-house goldsmiths to craft designer jewellery, which are in vogue with the current trends in the marketplace. [1]

Key Points

Product Mix
The Co.’s product mix includes all items made in Gold, Silver & Diamond apart from certain gift category MRP items. [1] However, over 90% of its revenues are generated from gold jewelry.[2]

  • Market Cap 3,657 Cr.
  • Current Price 1,333
  • High / Low 1,550 / 506
  • Stock P/E 29.0
  • Book Value 163
  • Dividend Yield 0.45 %
  • ROCE 16.8 %
  • ROE 22.4 %
  • Face Value 10.0

Pros

  • Company has delivered good profit growth of 28.4% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 24.0%

Cons

  • Stock is trading at 8.18 times its book value
  • Company might be capitalizing the interest cost

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Quarterly Results

Figures in Rs. Crores

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
612 741 250 705 631 609 826 813 745 772 960 993 896
567 712 252 661 605 588 790 782 715 713 868 969 845
Operating Profit 45 28 -3 44 26 21 36 32 30 59 92 24 51
OPM % 7% 4% -1% 6% 4% 3% 4% 4% 4% 8% 10% 2% 6%
0 0 0 0 0 0 0 0 0 0 0 0 0
Interest 6 6 5 6 7 8 8 8 9 11 10 9 9
Depreciation 2 2 2 2 3 3 2 3 2 6 3 4 4
Profit before tax 36 19 -10 36 16 10 26 21 19 42 79 12 38
Tax % 25% 29% 24% 25% 28% 24% 27% 25% 26% 26% 26% 32% 26%
27 14 -7 27 11 8 19 16 14 31 59 8 28
EPS in Rs 9.82 5.02 -2.72 9.75 4.13 2.91 6.93 5.82 5.03 11.32 21.39 3.06 10.20
Raw PDF

Profit & Loss

Figures in Rs. Crores

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
1,131 1,523 1,191 1,421 1,272 1,299 1,379 1,443 1,692 1,819 2,193 3,153 3,621
1,014 1,440 1,177 1,418 1,228 1,251 1,320 1,373 1,594 1,672 2,107 3,000 3,394
Operating Profit 118 83 15 3 43 48 59 71 98 147 86 153 227
OPM % 10% 5% 1% 0% 3% 4% 4% 5% 6% 8% 4% 5% 6%
0 2 5 2 3 1 2 3 3 2 2 3 0
Interest 28 37 35 29 24 21 19 20 21 23 26 35 38
Depreciation 2 5 6 8 8 9 8 8 10 9 10 13 17
Profit before tax 87 43 -21 -33 14 19 34 46 69 117 52 108 171
Tax % 32% 31% 39% 32% 26% 28% 33% 34% 34% 26% 26% 26%
59 30 -13 -22 11 14 23 30 46 87 39 80 126
EPS in Rs 21.55 10.81 -4.59 -8.13 3.84 5.10 8.35 11.04 16.66 31.60 14.07 29.10 45.97
Dividend Payout % 16% 23% -11% -6% 13% 20% 21% 23% 15% 16% 36% 21%
Compounded Sales Growth
10 Years: 8%
5 Years: 18%
3 Years: 23%
TTM: 21%
Compounded Profit Growth
10 Years: 10%
5 Years: 28%
3 Years: 20%
TTM: 122%
Stock Price CAGR
10 Years: 35%
5 Years: 52%
3 Years: 63%
1 Year: 157%
Return on Equity
10 Years: 14%
5 Years: 21%
3 Years: 22%
Last Year: 22%

Balance Sheet

Figures in Rs. Crores

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 14 14 14 14 14 14 14 14 14 14 14 14 27
Reserves 132 154 140 115 124 136 155 179 206 284 311 375 420
258 239 236 185 146 119 229 178 260 323 417 568 527
68 189 89 101 118 168 213 282 235 154 163 289 384
Total Liabilities 471 595 479 414 402 437 611 652 715 775 905 1,247 1,358
61 74 82 74 78 72 74 71 81 79 84 120 126
CWIP 2 4 7 8 1 1 1 1 2 2 7 2 3
Investments 0 0 0 0 0 0 0 0 0 0 0 0 0
408 518 390 332 323 364 536 580 633 694 814 1,125 1,228
Total Assets 471 595 479 414 402 437 611 652 715 775 905 1,247 1,358

Cash Flows

Figures in Rs. Crores

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
-54 108 49 82 73 69 -53 85 -39 55 -79 10
-40 -18 -17 -3 -5 -6 -27 -17 8 18 -21 -86
98 -70 -45 -90 -64 -56 74 -62 24 -64 94 78
Net Cash Flow 4 20 -12 -11 4 7 -6 5 -7 8 -7 2

Ratios

Figures in Rs. Crores

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 0 0 0 0 0 0 0 1 0 1 0 0
Inventory Days 138 125 113 77 87 96 140 143 139 149 139 127
Days Payable 7 34 2 9 14 27 17 21 9 3 1 3
Cash Conversion Cycle 132 92 111 68 73 69 123 122 130 146 138 125
Working Capital Days 105 73 85 47 44 38 64 54 74 94 103 86
ROCE % 37% 20% 4% -1% 13% 15% 16% 17% 21% 25% 11% 17%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
70.29% 70.31% 66.66% 66.66% 66.66% 66.66% 66.66% 67.16% 67.16% 67.16% 67.32% 67.33%
1.90% 1.85% 1.81% 1.19% 0.16% 0.17% 0.16% 0.16% 0.20% 0.25% 0.74% 0.98%
7.09% 7.18% 10.51% 11.51% 11.49% 11.46% 11.46% 11.46% 11.46% 11.39% 11.40% 11.51%
20.72% 20.66% 21.02% 20.64% 21.69% 21.71% 21.71% 21.21% 21.17% 21.20% 20.52% 20.17%
No. of Shareholders 10,4059,44711,04412,29611,44612,61814,89014,89620,91729,60432,95433,847

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

Click on the line-items to see the names of individual entities.

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