Thangamayil Jewellery Ltd
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]
- Market Cap ₹ 3,199 Cr.
- Current Price ₹ 1,166
- High / Low ₹ 1,550 / 488
- Stock P/E 25.4
- Book Value ₹ 163
- Dividend Yield 0.48 %
- 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 7.24 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.
Peer comparison
Sector: Diamond, Gems and Jewellery Industry: Diamond Cutting / Jewellery
Quarterly Results
Figures in Rs. Crores
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: | 32% |
5 Years: | 47% |
3 Years: | 57% |
1 Year: | 132% |
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% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Investor Presentation
23 Feb - Investor Meet @ Madurai - 1.3.2024
- Record Date For Interim Dividend 2 Feb
- Board Meeting Outcome for Interim Dividend - Financial Year Ending - 31.03.2024 1 Feb
- Un-Audited Financial Results For The 3Rd Quarter Ended 31.12.2023 1 Feb
- Board Meeting Intimation for Intimation Regarding Board Meeting Of The Company To Consider And Approve The Un-Audited Financial Results For The 3Rd Quarter Ended 31St December, 2023 22 Jan
Annual reports
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Financial Year 2010
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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]