Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
Last Updated on: 22 February, 2024|Author: Getaka | Social: X Twitter Profile

Fundamental Analysis of Thangamayil Jewellery Ltd

About the Company - Thangamayil Jewellery Ltd

Thangamayil Jewellery Ltd. is a Public Limited Listed company incorporated on 24/03/2000 and has its registered office in the State of Tamil Nadu, India. Company’s Corporate Identification Number(CIN) is L36911TN2000PLC044514 and registration number is 044514. Currently Company is involved in the business activities of Manufacture of jewellery and related articles. Company’s Total Operating Revenue is Rs. 2193.07 Cr. and Equity Capital is Rs. 13.72 Cr. for the Year ended 31/03/2022.
Diamond Cutting/Precious Metals/JewelleryNo.124, Nethaji Road, Madurai Tamil Nadu
NamePosition Held
Mr. Balarama Govinda DasChairman & Managing Director
Mr. N B KumarJoint Managing Director
Mr. Ba RameshJoint Managing Director
Mrs. Yamuna Vasini Deva DasiNon Executive Director
Mr. S RethinaveluIndependent Director
Mr. Lalji VoraIndependent Director
Mr. V R MuthuIndependent Director
Mr. S M ChandrasekaranIndependent Director
Mrs. Jeevagan RajakumariIndependent Director

Thangamayil Jewellery Ltd. Share Price Update

Share PriceValue
Previous Day₹1,324.85

Basic Stock Data of Thangamayil Jewellery Ltd

Market Cap 3,653 Cr.
Current Price 1,331
High / Low1,550/472
Stock P/E29.0
Book Value 163
Dividend Yield0.45 %
ROCE16.8 %
ROE22.4 %
Face Value 10.0

Data Source:

Competitors of Thangamayil Jewellery Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Renaissance Global Ltd 1,322 Cr. 138144/80.018.2 1120.00 %9.02 %9.06 % 2.00
PC Jeweller Ltd 2,509 Cr. 53.965.5/21.3 69.80.00 %5.33 %5.36 % 10.0
Rajesh Exports Ltd 9,782 Cr. 331722/29913.4 5160.29 %10.9 %10.5 % 1.00
Penta Gold Ltd 11.6 Cr. 9.1537.8/7.60 23.10.00 %1.27 %21.2 % 10.0
Tribhovandas Bhimji Zaveri Ltd (TBZ) 842 Cr. 126145/58.215.7 85.11.40 %9.30 %7.39 % 10.0
Industry Average173.12 Cr131.619.46161.20.34%7.16%10.7%6.6

Thangamayil Jewellery Ltd Quarterly Results

MonthDec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Operating Profit4528-344262136323059922451
OPM %7%4%-1%6%4%3%4%4%4%8%10%2%6%
Other Income0000000000000
Profit before tax3619-1036161026211942791238
Tax %25%29%24%25%28%24%27%25%26%26%26%32%26%
Net Profit2714-7271181916143159828
EPS in Rs9.825.02-2.729.754.132.916.935.825.0311.3221.393.0610.20

Thangamayil Jewellery Ltd Quarterly Chart

Thangamayil Jewellery Ltd Profit & Loss

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Operating Profit11883153434859719814786153205
OPM %10%5%1%0%3%4%4%5%6%8%4%5%6%
Other Income0252312332230
Profit before tax8743-21-33141934466911752108152
Tax %32%31%39%32%26%28%33%34%34%26%26%26%
Net Profit5930-13-221114233046873980112
EPS in Rs21.5510.81-4.59-8.133.845.108.3511.0416.6631.6014.0729.1040.80
Dividend Payout %16%23%-11%-6%13%20%21%23%15%16%36%21%

Thangamayil Jewellery Ltd Profit & Loss Yearly Chart

YoY Net Profit Growth
YoY Net Profit Growth (%)-49.15%-143.33%-69.23%150.00%27.27%64.29%30.43%53.33%89.13%-55.17%105.13%
Change in YoY Net Profit Growth (%)0.00%-94.18%74.10%219.23%-122.73%37.01%-33.85%22.90%35.80%-144.30%160.30%

Thangamayil Jewellery Ltd Growth

Compounded Sales Growth
10 Years:8%
5 Years:18%
3 Years:23%
Compounded Profit Growth
10 Years:10%
5 Years:28%
3 Years:20%
Stock Price CAGR
10 Years:33%
5 Years:52%
3 Years:65%
1 Year:164%
Return on Equity
10 Years:14%
5 Years:21%
3 Years:22%
Last Year:22%

Thangamayil Jewellery Ltd Balance Sheet

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital14141414141414141414141427
Other Liabilities6818989101118168213282235154163289384
Total Liabilities4715954794144024376116527157759051,2471,358
Fixed Assets6174827478727471817984120126
Other Assets4085183903323233645365806336948141,1251,228
Total Assets4715954794144024376116527157759051,2471,358

Thangamayil Jewellery Ltd Reserves and Borrowings Chart

Thangamayil Jewellery Ltd Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity -5410849827369-5385-3955-7910
Cash from Investing Activity -40-18-17-3-5-6-27-17818-21-86
Cash from Financing Activity 98-70-45-90-64-5674-6224-649478
Net Cash Flow420-12-1147-65-78-72

Thangamayil Jewellery Ltd Financial Efficiency Indicators

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Debtor Days000000010100
Inventory Days138125113778796140143139149139127
Days Payable73429142717219313
Cash Conversion Cycle13292111687369123122130146138125
Working Capital Days10573854744386454749410386
ROCE %37%20%4%-1%13%15%16%17%21%25%11%17%

Thangamayil Jewellery Ltd Financial Efficiency Indicators Chart

Thangamayil Jewellery Ltd Share Holding Pattern

MonthMar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
No. of Shareholders8,77610,4059,44711,04412,29611,44612,61814,89014,89620,91729,60432,954

Thangamayil Jewellery Ltd Shareholding Pattern Chart

No. of Thangamayil Jewellery Ltd Shareholders

Thangamayil Jewellery Ltd Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)
DSP Small Cap Fund13373841.48199.45
SBI Small Cap Fund11400000.72170.01
SBI Conservative Hybrid Fund5000000.7368.59
SBI Conservative Hybrid Fund - Div (Annual)5000000.7368.59
SBI Conservative Hybrid Fund - Div (Monthly)5000000.7368.59
SBI Magnum Childrens Benefit Fund - Investment Plan1438471.4321.45
SBI Magnum Children Benefit Plan70000.90.96

Thangamayil Jewellery Ltd ROCE Trend

Thangamayil Jewellery Ltd EPS Trend

Thangamayil Jewellery Ltd Key Financial Ratios

MonthMar 23Mar 22Mar 21Mar 20Mar 19
Basic EPS (Rs.)58.1328.0963.1133.0122.05
Diluted EPS (Rs.)58.1328.0963.1133.0122.05
Cash EPS (Rs.)67.8835.1370.0140.7027.59
Book Value[Excl.RevalReserv]/Share (Rs.)283.38236.35217.15160.46140.81
Book Value[Incl.RevalReserv]/Share (Rs.)283.38236.35217.15160.46140.81
Dividend / Share (Rs.)12.0010.0010.005.005.00
Revenue From Operations / Share (Rs.)2297.841598.491325.561233.241052.04
PBDIT / Share (Rs.)113.8964.04108.8673.4453.55
PBIT / Share (Rs.)104.1357.01101.9566.0148.02
PBT / Share (Rs.)78.6737.9285.2650.5933.19
Net Profit / Share (Rs.)58.1228.0963.1133.2822.05
PBDIT Margin (%)4.954.008.215.955.08
PBIT Margin (%)4.533.567.695.354.56
PBT Margin (%)3.422.376.434.103.15
Net Profit Margin (%)2.521.754.762.692.09
Return on Networth / Equity (%)20.5011.8829.0620.7315.66
Return on Capital Employeed (%)26.3617.7838.0031.9028.32
Return On Assets (%)6.394.2511.176.384.63
Long Term Debt / Equity (X)0.340.320.200.240.19
Total Debt / Equity (X)1.411.110.901.070.79
Asset Turnover Ratio (%)2.932.612.442.472.29
Current Ratio (X)1.581.721.681.441.36
Quick Ratio (X)
Inventory Turnover Ratio (X)3.152.792.692.772.63
Dividend Payout Ratio (NP) (%)18.9232.039.5036.2219.13
Dividend Payout Ratio (CP) (%)16.2025.618.5629.6115.29
Earning Retention Ratio (%)81.0867.9790.5063.7880.87
Cash Earning Retention Ratio (%)83.8074.3991.4470.3984.71
Interest Coverage Ratio (X)4.473.366.524.763.61
Interest Coverage Ratio (Post Tax) (X)3.282.474.783.162.49
Enterprise Value (Cr.)1848.211832.921057.20534.96568.28
EV / Net Operating Revenue (X)0.580.830.580.310.39
EV / EBITDA (X)11.8320.867.085.317.74
MarketCap / Net Operating Revenue (X)0.430.670.440.190.32
Retention Ratios (%)81.0767.9690.4963.7780.86
Price / BV (X)3.544.592.701.502.41
Price / Net Operating Revenue (X)0.430.670.440.190.32

Thangamayil Jewellery Ltd Profitability Ratios (%)

Thangamayil Jewellery Ltd Liquidity Ratios

Thangamayil Jewellery Ltd Liquidity Ratios (%)

Thangamayil Jewellery Ltd Interest Coverage Ratios (X)

Thangamayil Jewellery Ltd Valuation Ratios

Fair Value / Intrinsic Value of Thangamayil Jewellery Ltd

Fair Value: ₹1063.61

The stock is overvalued by 20.09% compared to the current price ₹1331

*Investments are subject to market risks

Strength and Weakness of Thangamayil Jewellery Ltd

  1. The stock has a high average ROCE of 16.25%, which is a positive sign.
  2. The company has shown consistent growth in sales (1.38 cr) and profit (52.85 cr) over the years.
  1. The stock is trading at a high valuation with an average P/B ratio of 82.76 and average Dividend Yield of 5.14%.
  2. The stock has a high average Working Capital Days of 72.25, which may not be favorable.
  3. The stock has a high average Cash Conversion Cycle of 110.75, which may not be favorable.
  4. The company has higher borrowings (283.46) compared to reserves (210.08), which may suggest financial risk.

Should I Buy Thangamayil Jewellery Ltd Share Now?

  • Considering various financial indicators, investors might exercise caution regarding investment in Thangamayil Jewellery Ltd:
    1. Net Profit Margin: 2.52%
      • Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
    2. ROCE: 26.36% (Industry Average ROCE: 6.54%)
      • ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
    3. Interest Coverage Ratio (Post Tax): 3.28
      • Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
    4. Quick Ratio: 0.18
      • Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
    5. ✓ Stock P/E: 29.0 (Industry average Stock P/E: 185.26)
      • Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
    6. ✗ Total Debt / Equity: 1.41
      • Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
    The current analysis suggests exercising caution. It's advisable to conduct further research or consult with financial experts before considering any investment.

About the Author

Author Avatar

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Thangamayil Jewellery Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE