Thangamayil Jewellery Madurai profits jumps up 69 percent

As on date, the price of Gold has increased tremendously. In a day Rs.736 has increased for a sovereign.

Tamil Nadu-based Thangamayil Jewellery Ltd’s second quarter net profit has more than doubled to Rs 22.20 crore.

The Madurai-headquartered company has made a net profit of Rs 8.52 crore in the corresponding quarter last year.

According to company officials, for the quarter ended September 30, 2011, it has registered a growth of 69 per cent in its business.

The jewellery has 13 branches across the state.

Madurai, Rajapalayam, Dindigul, Karaikudi, Ramanathapuram, Theni, Sivakasi, Tuticorin, Salem, Thenkasi.

ORRA launches jewellery boutique in Madurai

ORRA, India’s finest jewellery retail chain announced the launch of its multi level boutique at 241, West Masi Street in Madurai. Adding glamour to the event, super model from Bangalore, Niyoosha Beatrice displayed a stunning range of glittering diamond jewellery, solitaires and gold jewellery in trendy designs created by ORRA. The highlight of the day was the show stopper, Niyoosha who looked ravishing as she showcased A Million Euro Diamond Bustier. This Million Euro Bustier (approximately Rs. 6.5 cr) handcrafted by ORRA’s International Design center with over 500 carats of diamonds is “A one of kind Creation”.

content sourced from franchiseee india dot com.

CRISIL assigns valuation grade of 4/5 to Thangamayil Jewellery Madurai Cumbum Tuticorin

CRISIL Research has come out with its report on Thangamayil Jewellery . The research firm has initiated coverage on the company with a fundamental grade of "2/5" and maintained the fair value of Rs 182 per share, in its June 20, 2011 report.

Thangamayil�s Q1FY12 revenues grew by 77.7% y-o-y to Rs 2,231 mn. A 23% increase in gold prices combined with a rise in sales volumes due to the ramping up of new branches in Tuticorin and Madurai-Annanagar led to the increase in top line. Revenues were also supported by the opening of a new branch at Cumbum near Madurai in June 2011.

Valuations: Current market price has upside
We continue to use the P/E method to value Thangamayil. We apply a multiple of 6x on FY13 EPS of Rs 30.3 to arrive at a fair value of Rs 182. At the current market price of Rs 155, our valuation grade is 4/5, says CRISIL Research report.

Source:MoneyControl

Thangamayil Jewellery opens a new showroom in Anna Nagar Madurai

Thangamayil Jewellery opens a new show room in Madurai Anna Nagar.

This has become a trend these days. If you have a shop or show room in the main Madurai town area around the temple and in the streets of Madurai Temple area, then now it is time for you to have an office outside the main congested traffic area.

Like where people are staying - like Anna Nagar, Bye-pass road NH-7, Thirunagar etc.,
Opening an outer showroom helps your sales a lot. See for example Saravana Stores has a store in Purasaivakkam, in addition to that of T.Nagar shops in Chennai. Same is applicable with GRT Jewellers - they have a shop in Anna Nagar Chennai as well, in addition to T.Nagar and other ones.

Even in Madurai, Naaihaa shop is there in Bye-pass road; Anantha and Anantha metal stores has a branch in Bye-pass road. In fact, Bye-pass road is picking up a lot in Madurai. OK, coming to the news, Thangamayil Jewellery has opened a show room in Anna Nagar, which is a great step towards more profit, more convenience for people etc.,

I guess, next they should be opening a show room in Bye-pass road as well. No Jewellers has moved out of their Jewellery street in Madurai. This is the first time and this is a new landmark for jewellery retail industry in Madurai.

This will change things more in Madurai, I believe in terms of Retail sales. BTW - Thangamayil Jewellery is a Public company -

Thangamayil Jewellery Ltd opened a new branch at Madurai, Annanagar on March 14, 2011 between 9.30 Am-10.30 Am.

The stock closed the day at Rs.167.05, down by Rs.6.35 or 3.66%. The stock hit an intraday high of Rs.176 and low of Rs.167.

The total traded quantity was 8412 compared to 2 week average of 7929.

Source: Equity Bulls

Madurai Jeweller - Thangamayil Jewellery/Jewellry going public - IPO

I am really glad to hear such news about a Madurai Gold Jewellery retailer.

YES!! Madurai based Gold Jewellery retailer, Thangamayil Jewellery is going public in market and issued IPO for almost rupees 29 crores.

It is one of the leading jewellery retailers in Madurai and trades in Gold Jewellery, Diamond and Platinum jewels. It has introduced the Hallmarking practice for the first time in Madurai.

For the year ended March 31, 2009, it has reported 10% jump in its net sales.

The price band for the issue has fixed at Rs 70-75 per equity share.

The company intends to use issue proceeds for expansion of existing business by establishing retail outlets at Tuticorin, Dindigul, Theni, Nagercoil, Tirunelveli, Kovilpatti and Sivakasi, and for renovation of the existing outlet at Madurai.

Considering the increase of Gold prices and profits these companies make - it is a good idea to think about these companies for investment. Disclaimer - I am NO financial adviser.