Thangamayil Jewellery Limited (NSE: THANGAMAYL) is showing positive long-term prospects according to recent forecasts. As of June 13, 2024, its share price closed at ₹1410.60, showing a 1.06% increase from the previous day.
For the near future, specifically in 2024, Thangamayil's share price is expected to move within certain ranges. Analysts predict potential support and resistance levels with near-term targets ranging between ₹1319 and ₹1467, with an optimistic long-term target reaching up to ₹1734 . This suggests a positive trend if the market conditions remain favorable.
Looking further ahead, projections for the fiscal year 2026 estimate the revenue to be around ₹58,596 million, with earnings of approximately ₹1,977 million. Additionally, by 2027, the share price is anticipated to reach between ₹3098 and ₹3699, highlighting continued growth potential.
Thangamayil Jewellery Quarterly Results
For the fourth quarter ending March 31, 2024, Thangamayil Jewellery reported the following key financial metrics:
- Total Revenue: INR 981.16 crores, up from INR 769.74 crores in the same quarter the previous year.
- Net Income: INR 28.24 crores, a decrease from INR 31.03 crores in Q4 2023.
- Earnings Per Share (EPS): INR 10.29, compared to INR 11.31 in the previous year.
- Net Profit Margin: 2.87%, down from 4.02% in the previous year.
Dividend History
Thangamayil Jewellery has a history of consistent dividend payments. Here is a brief overview of the recent dividends declared:
- FY 2023-24: Recommended a final dividend of INR 5 per share.
- FY 2022-23: The company declared a total dividend of INR 4.50 per share, distributed in two interim dividends and a final dividend.
- FY 2021-22: The total dividend declared was INR 4 per share, including interim and final dividends.
The consistent dividend payments indicate the company's commitment to returning value to its shareholders despite fluctuations in net income.
Market Share and Position
Thangamayil Jewellery holds a significant position in the regional jewelry market, competing with other major players like Titan Company, Kalyan Jewellers, and Rajesh Exports. While exact market share percentages are not readily available, it is evident from its extensive retail network and continuous expansion efforts that the company is a strong contender in the sector.
Recent Financial Performance
For the latest quarter ending in March 2024, Thangamayil Jewellery reported robust financials. The company achieved a total income of ₹543.67 crore, marking a 14.69% increase from the previous quarter. The net profit for this period was ₹27.05 crore, a 14.45% rise from the previous quarter (NSE India).
Summary
Thangamayil Jewellery Limited is a well-established jewelry retailer with a strong presence in Tamil Nadu. The company has shown consistent growth in income and profits, coupled with a reliable dividend payout history, positioning itself as a significant player in the regional market. Its competitive performance alongside other major jewelry brands underscores its market strength and potential for future growth.
Stock's one year Trend
