Tribhovandas Bhimji Zaveri Ltd

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Tribhovandas Bhimji Zaveri Ltd

₹ 126 0.12%
25 Apr 4:05 p.m.
tbztheoriginal.com BSE: 534369 NSE : TBZ
About

Tribhovandas Bhimji Zaveri Limited (TBZ) is engaged in the business of retail sales of ornaments made of gold, diamond, silver, platinum and precious stones through its showrooms and franchisee stores. [1]

Key Points

Rich History
The Co is one of the oldest family-run jewellery businesses in India having been established over 157 years ago. It is currently being run by the 5th generation of the family. It was the first jeweller to offer a buyback guarantee as early as 1938. It is also the first Co in India to promote the concept of lightweight precious jewellery, provide certified solitaire diamonds, and introduce 100% BIS hallmarked 22 karat gold jewellery. [1] [2]

Website BSE NSE
  • Market Cap ₹ 839 Cr.
  • Current Price ₹ 126
  • High / Low ₹ 145 / 66.4
  • Stock P/E 15.9
  • Book Value ₹ 86.2
  • Dividend Yield 1.39 %
  • ROCE 9.19 %
  • ROE 7.20 %
  • Face Value ₹ 10.0
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Pros

  • Company has been maintaining a healthy dividend payout of 35.7%
  • Company's working capital requirements have reduced from 178 days to 141 days

Cons

  • The company has delivered a poor sales growth of 6.45% over past five years.
  • Company has a low return on equity of 6.25% over last 3 years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

Sector: Diamond, Gems and Jewellery Industry: Diamond Cutting / Jewellery

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
623 366 194 456 763 431 580 537 812 465 571 481 741
555 346 195 435 726 416 561 514 769 435 539 451 696
Operating Profit 68 20 -1 21 37 15 19 23 43 30 32 30 45
OPM % 11% 6% -0% 5% 5% 4% 3% 4% 5% 7% 6% 6% 6%
2 4 2 3 2 2 2 1 1 1 1 1 2
Interest 11 8 8 8 10 9 12 10 11 12 12 13 12
Depreciation 7 5 6 6 6 5 6 6 6 6 6 6 6
Profit before tax 53 11 -13 9 23 3 4 8 27 13 15 12 29
Tax % 25% 20% 27% 27% 27% 14% 26% 27% 25% 15% 25% 25% 27%
39 9 -9 7 17 2 3 6 20 11 11 9 21
EPS in Rs 5.92 1.29 -1.36 0.99 2.57 0.36 0.43 0.84 2.99 1.69 1.71 1.37 3.14
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
1,385 1,658 1,818 1,934 1,655 1,690 1,751 1,764 1,810 1,342 1,844 2,394 2,257
1,262 1,507 1,680 1,853 1,610 1,614 1,673 1,683 1,692 1,217 1,766 2,271 2,120
Operating Profit 123 152 138 81 45 76 78 81 118 125 78 123 137
OPM % 9% 9% 8% 4% 3% 4% 4% 5% 7% 9% 4% 5% 6%
2 5 6 23 5 4 7 5 5 13 8 6 5
Interest 33 25 52 57 61 55 44 53 62 52 41 53 49
Depreciation 5 8 10 8 10 9 8 10 32 26 22 24 24
Profit before tax 87 124 83 39 -22 16 32 23 29 60 23 52 69
Tax % 34% 31% 34% 34% -7% -7% 34% 34% 24% 28% 25% 23%
57 85 55 26 -23 17 21 15 22 43 17 40 53
EPS in Rs 12.75 8.25 3.90 -3.47 2.51 3.15 2.29 3.29 6.46 2.56 5.94 7.91
Dividend Payout % 7% 18% 27% 26% -0% -0% 24% 33% 30% 39% 39% 29%
Compounded Sales Growth
10 Years: 4%
5 Years: 6%
3 Years: 10%
TTM: -4%
Compounded Profit Growth
10 Years: -7%
5 Years: 13%
3 Years: 21%
TTM: 71%
Stock Price CAGR
10 Years: -1%
5 Years: 14%
3 Years: 27%
1 Year: 88%
Return on Equity
10 Years: 5%
5 Years: 5%
3 Years: 6%
Last Year: 7%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 50 67 67 67 67 67 67 67 67 67 67 67 67
Reserves 110 343 381 399 376 399 420 427 425 467 468 501 508
207 419 568 583 650 549 569 606 636 438 588 575 620
216 352 300 237 205 179 164 332 348 252 343 340 253
Total Liabilities 583 1,181 1,316 1,286 1,298 1,194 1,220 1,431 1,476 1,224 1,466 1,482 1,448
49 88 94 104 105 99 100 108 171 137 149 156 155
CWIP 1 2 2 5 -0 2 -0 -0 -0 -0 -0 1 1
Investments 3 3 3 3 3 3 2 2 2 2 12 12 12
530 1,089 1,217 1,173 1,189 1,090 1,118 1,322 1,303 1,084 1,305 1,314 1,280
Total Assets 583 1,181 1,316 1,286 1,298 1,194 1,220 1,431 1,476 1,224 1,466 1,482 1,448

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
39 -303 9 19 9 153 39 31 147 230 -57 92
-6 -61 -56 26 -11 1 -5 -19 -4 6 -11 -6
-37 373 48 -52 4 -155 -27 -16 -147 -233 71 -87
Net Cash Flow -3 8 1 -7 2 -2 7 -4 -4 3 3 -0

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 1 0 1 0 0 0 5 5 1 1 0 0
Inventory Days 160 279 269 243 289 258 265 309 296 330 276 215
Days Payable 28 47 19 24 23 19 23 51 48 46 46 37
Cash Conversion Cycle 133 233 250 219 266 239 246 263 249 285 230 178
Working Capital Days 78 152 166 169 206 187 188 194 182 213 179 141
ROCE % 35% 25% 15% 8% 4% 7% 7% 7% 8% 11% 6% 9%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
74.12% 74.12% 74.12% 74.12% 74.12% 74.12% 74.12% 74.12% 74.12% 74.12% 74.12% 74.12%
0.78% 1.38% 1.45% 1.31% 1.28% 0.93% 0.59% 0.60% 0.56% 0.94% 1.82% 1.02%
0.00% 0.01% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
25.10% 24.50% 24.43% 24.57% 24.61% 24.94% 25.29% 25.27% 25.31% 24.94% 24.05% 24.87%
No. of Shareholders 34,76133,43332,91034,27933,60132,12030,37829,62430,15229,29030,87631,111

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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