Thangamayil Jewellery shares fell as much as 5% in early trade on Tuesday, even as the company reported healthy quarterly earnings and strong demand during the ongoing Aadi Perukku festival.
Around 9.50 am today, the stock was trading at Rs 4,717.5 apiece on the National Stock Exchange, down from its previous close at Rs 4,965.5.
The jewellery retailer informed exchanges that it recorded sales revenue of Rs 344.16 crore during the three-day Aadi Perukku festival period from August 1 to August 3, 2026, compared with Rs 156.75 crore in the corresponding period last year. The performance translated into a 119.55% year-on-year increase in festival sales.
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The positive update did little to lift investor sentiment, with Thangamayil Jewellery shares dropping around 5%.
Quarterly Earnings Remain Robust
Last week, the company had also reported a strong set of quarterly numbers, with net profit rising 86% year-on-year, while revenue increased 71% from the year-ago period, reflecting healthy demand and higher sales during the quarter.
The latest festival sales update suggests that demand has remained resilient at the start of August, potentially providing further support to the company's business momentum in the current quarter.
Stock Movement
The stock has been under pressure for over a week now as it declined sharply by 34% during the past week.
Even in the past month, the stock tanked over 23.4%, and today's decline further added to the loss.
The stock is trading at a price-to-earnings multiple of 39.5 times, with a market cap of Rs 14,662.9 crore as at the end of the previous trading session.
Also Read: Thangamayil Jewellery Q1 Results: Net Profit Jumps 86% YoY, Revenue Surges 71%
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