Thangamayil Jewellery

Thangamayil Jewellery Limited, established in 1947 in the temple city of Madurai, stands as one of Tamil Nadu's most respected, transparent, and value-focused jewellery retailers. With over 77 years of heritage, the company has evolved from a single family-owned store to a publicly listed enterprise trading on both the National Stock Exchange (NSE: THANGMAYL) and Bombay Stock Exchange (BSE: 533158), with more than 60 showrooms across Tamil Nadu serving millions of customers annually. The brand's remarkable journey reflects the transformation possible when traditional values combine with modern business practices and genuine commitment to customer welfare.

The brand's deep connection to Madurai - home to the iconic Meenakshi Amman Temple, one of India's most important Hindu pilgrimage sites - is central to its identity. Madurai has been a center of Tamil culture for over 2,500 years, and gold jewellery plays an essential role in the region's religious, social, and ceremonial life. This cultural context shapes Thangamayil's understanding of what jewellery means to Tamil families - it's not merely ornamental but is tied to family identity, religious devotion, marital status, social celebrations, and financial security. The Kalavasal branch in Madurai, featuring an extensive "live jewellery collection," represents the brand's flagship presence in their home city with gold, diamond, silver, and bridal jewellery spanning classic temple and antique collections to contemporary designs.

As a publicly listed company since listing on NSE and BSE, Thangamayil operates with the transparency and corporate governance standards that public market oversight demands. ISIN INE085J01014 with face value of ₹10 per share, the company files quarterly financial disclosures, undergoes independent audits, and complies with SEBI regulations - providing customers with assurance that extends beyond product quality to encompass business integrity. The stock has performed strongly, trading around ₹3,832 as of early 2026 with a 52-week range of approximately ₹1,523 to ₹4,149, reflecting investor confidence in the business model and execution. This public accountability is rare among regional jewellers and distinguishes Thangamayil for customers who value institutional credibility.

The company's financial performance demonstrates both scale and growth trajectory. Revenue for FY2024-25 reached approximately ₹4,910 crore, up significantly from ₹3,826 crore in FY2023-24 - representing substantial growth driven by store expansion, increased customer base, and higher gold prices. Q4 FY25 sales of approximately ₹1,380 crore represented a 40.70% year-over-year increase. While net profit moderated slightly to ₹118.71 crore (FY25) from ₹123.24 crore (FY24), the company demonstrated ability to maintain profitability while investing in growth. The business model's strength was evident in Q2 FY25 when a significant swing to profit of approximately ₹58.50 crore positively surprised markets.

Thangamayil's most distinctive competitive advantage lies in their aggressive yet sustainable pricing strategy. Making charges ranging from just ₹160 to ₹420 per gram position them among the most affordable branded jewellers in India - significantly lower than national chains like Tanishq (₹350-800/gram) and even below most regional competitors. Simple chains and bangles start from around ₹160/gram, regular traditional pieces fall in the middle range, and intricate bridal sets with complex craftsmanship reach up to ₹420/gram. For a typical 50-gram bridal necklace, this pricing could mean savings of ₹10,000-20,000 compared to premium chains - a meaningful difference for middle-class Tamil families purchasing complete wedding sets.

The retail network has grown strategically to serve customers across Tamil Nadu's diverse urban landscape. With approximately 60 stores (including both Thangamayil and silver-exclusive Sil-wear Smile showrooms) spanning approximately 78,000 square feet of retail space collectively, the brand has achieved significant presence in the state. Beyond metros like Chennai and Coimbatore, Thangamayil's expansion strategy particularly focuses on tier-2 and tier-3 cities - Dindigul, Sivakasi, Nagercoil, Karur, Thanjavur, Tiruvannamalai, Cuddalore, Pollachi, and numerous other towns where organized jewellery retail options were previously limited to local goldsmiths. This expansion brings BIS hallmarked quality, transparent pricing, and organized retail benefits to customers who previously had to travel to larger cities or accept the uncertainties of unorganized retail.

The product portfolio at Thangamayil covers gold, diamond, silver, and platinum jewellery across traditional and contemporary styles. Gold jewellery - particularly 22K (916) BIS hallmarked pieces - constitutes the major portion of revenue, reflecting Tamil Nadu's strong gold culture. Collections span traditional South Indian temple jewellery featuring deity motifs, long harams and malais (necklaces), kasu malas (coin necklaces), antique-finish collections that evoke heritage aesthetics, elaborate bridal sets covering the multiple pieces required for Tamil weddings (chokers, long chains, jhumkas, bangles, hip chains, nose rings), contemporary diamond pieces for modern occasions, lightweight daily wear for working professionals, and men's jewellery including chains, rings, and bracelets.

The Sil-wear Smile sub-brand focuses exclusively on silver fashion jewellery, accessories, and gift items. Operating from dedicated showrooms, Sil-wear Smile offers trendy, youthful designs in 925 sterling silver and gold-plated silver at accessible price points. This sub-brand serves customers seeking fashionable accessories without the significant investment of gold jewellery - a growing segment among young professionals and students.

Customization remains an important service, particularly for gold jewellery where customers often have specific design requirements based on family traditions or personal preferences. Ornaments can be made to order according to customer specifications, while readymade designs are sourced from different states depending on demand trends and fashion movements. This flexibility allows Thangamayil to serve customers with specialized needs while maintaining inventory efficiency for standard purchases.

Quality assurance follows rigorous standards appropriate for a listed company. All gold jewellery is BIS hallmarked with HUID (Hallmark Unique Identification Number) enabling verification through official government channels. In-store purity testing equipment allows customers to verify gold content before purchase. Diamonds come with appropriate certification. Transparent billing details gold weight, current rates, making charges, stone charges, and GST - ensuring customers understand exactly what they're paying for. This transparency, combined with public company accountability, builds trust among customers who may have had negative experiences with non-transparent local jewellers.

Thangamayil offers gold savings schemes designed to make significant purchases accessible to middle-class families. Customers can enroll and make monthly deposits over a defined period, with bonus benefits upon completion that enhance the value available for purchase. These schemes essentially function as dedicated savings plans with gold as the goal, helping families systematically accumulate funds for weddings, festivals, or other celebrations while earning additional benefits. The schemes are particularly valuable given Tamil Nadu's wedding culture, where substantial gold jewellery is considered essential for brides.

The exchange policy supports customers throughout their jewellery journey. Full gold value exchange for Thangamayil purchases at any store enables customers to upgrade their collections or modify designs as preferences evolve. Old gold from other jewellers is accepted with standard purity testing. As a listed company, exchange processes follow documented policies with clear terms, providing assurance that customers will receive fair treatment.

Digital presence has been developed to serve modern customer expectations. The website provides daily gold rate updates (critical information in a market where prices fluctuate significantly), product catalogs for browsing before store visits, scheme information and enrollment, and store locator functionality. Home delivery in select cities expands access beyond physical store locations. Customer service includes after-sales support including cleaning and maintenance services that help jewellery maintain its beauty across generations.

Thangamayil's cultural resonance in Tamil Nadu extends beyond commercial relationships. The brand is rooted in Tamil traditions, understanding the specific requirements of Tamil weddings (which differ from North Indian or other regional traditions), the importance of temple jewellery in religious and cultural life, and the emotional significance of gold in Tamil family celebrations. Staff at Thangamayil showrooms understand these nuances and can guide customers through requirements that may not be immediately obvious to those outside the culture - which pieces are essential for different ceremonies, what the appropriate weight considerations are for different family backgrounds, and how to balance tradition with personal preferences.

For middle-class Tamil families seeking quality wedding jewellery without premium pricing, Thangamayil represents the optimal choice. The combination of extremely competitive making charges, BIS hallmarked quality, public company transparency, extensive state-wide presence including tier-2/3 cities, deep understanding of Tamil wedding traditions, and flexible savings schemes creates a value proposition that premium national chains cannot match. Whether purchasing an elaborate bridal trousseau for a traditional Tamil wedding, contemporary diamond pieces for special occasions, or silver accessories for everyday style, customers can trust Thangamayil to deliver quality, value, and authentic Tamil craftsmanship backed by 77 years of heritage and public market accountability.