Thangamayil Jewellery stock falls 32% as Q2 FY27 sales weaken
Business
Thangamayil Jewellery's stock has dropped a steep 32% this past week, including a 5% fall on Monday.
The company said sales hadn't picked up at all in the first 28 days of Q2 FY27, and things like higher gold import duty, rupee depreciation, and global tensions (especially U.S.-Iran) have made business tougher.
Thangamayil profit ₹85 cr, same-store slows
Even with these hurdles, Thangamayil posted strong numbers last quarter: net profit jumped 86% to ₹85 crore and revenue climbed to ₹2,666.4 crore.
But same-store sales growth slowed down sharply.
Earlier this year, Equirus Wealth's Long Horizon Fund put over 22% of its portfolio into Thangamayil shares.