Thangamayil Is Poised To Drive Up Return Ratios Significantly Over The Next Few Years
Thangamayil (TJL) is one of the leading tier-2 and 3 town-focused jewellers in Tamil Nadu. The past decade has been a roller coaster ride for TJL as it went from nearly doubling revenue/tripling profits every alternate year over FY08-13 to being arm-twisted by banks to liquidate un-hedged inventory and mitigate gold price risk in FY14-15.
Reference:
1. HDFC Securities Sector Report on Indian Gems & Jewellery.