Thangamayil Jewellery shares slide up to 10% on July 29 as EBITDA margin dips despite 86% profit surge

Thangamayil Jewellery's shares fell up to 10% despite strong Q1 FY2026 profit and revenue growth, as investors focused on a modest EBITDA margin contraction (5.4% vs 5.6%). The reaction highlights sensitivity to profitability quality and operating leverage in consumer retail earnings, potentially weighing near-term sentiment across India's discretionary/retail complex even as top-line momentum remains robust.