Tribhovandas Bhimji Zaveri Ltd

Tribhovandas Bhimji Zaveri Ltd

₹ 196 1.79%
10 Jun - close price
About

Incorporated in 2007, Tribhovandas Bhimji Zaveri Ltd is in the business of retail sales of ornaments made of gold, diamond, silver, platinum and precious stones[1]

Key Points

Business Overview:[1]
TBZ, a 150-year-old family-run Indian jewellery business, was the first to introduce 100% BIS hallmarked 22 karat gold jewellery, certified solitaire diamonds, and a lifetime buyback scheme on gold and diamond jewellery. It pioneered lightweight precious jewellery and offers handcrafted gold, diamond, jadau, and platinum jewellery for various occasions, as well as contemporary designs for daily wear.

  • Market Cap 1,314 Cr.
  • Current Price 196
  • High / Low 360 / 105
  • Stock P/E 19.2
  • Book Value 98.5
  • Dividend Yield 0.89 %
  • ROCE 11.4 %
  • ROE 10.9 %
  • Face Value 10.0

Pros

  • Company has delivered good profit growth of 24.7% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 24.2%

Cons

  • The company has delivered a poor sales growth of 7.68% over past five years.
  • Company has a low return on equity of 9.28% over last 3 years.
  • Company might be capitalizing the interest cost

* 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.

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025
431.49 579.89 536.80 812.18 464.76 570.82 480.59 741.02 506.51 596.24 567.05 927.85 529.34
414.66 561.48 513.96 768.04 433.83 538.42 450.87 695.17 475.14 554.88 531.84 867.72 493.11
Operating Profit 16.83 18.41 22.84 44.14 30.93 32.40 29.72 45.85 31.37 41.36 35.21 60.13 36.23
OPM % 3.90% 3.17% 4.25% 5.43% 6.66% 5.68% 6.18% 6.19% 6.19% 6.94% 6.21% 6.48% 6.84%
2.05 2.34 1.03 0.82 0.78 1.00 1.10 1.57 2.10 1.00 1.24 0.82 1.31
Interest 9.42 11.61 10.10 11.42 11.64 11.92 12.53 12.47 12.91 12.80 13.10 13.21 17.00
Depreciation 5.45 5.65 6.24 6.27 6.31 6.33 6.16 5.87 5.33 6.17 6.15 6.15 6.97
Profit before tax 4.01 3.49 7.53 27.27 13.76 15.15 12.13 29.08 15.23 23.39 17.20 41.59 13.57
Tax % 10.22% 29.80% 27.22% 24.64% 14.75% 25.02% 25.64% 26.24% 17.20% 27.11% 30.47% 28.16% 30.07%
3.60 2.44 5.47 20.55 11.73 11.37 9.01 21.44 12.61 17.05 11.97 29.88 9.49
EPS in Rs 0.54 0.37 0.82 3.08 1.76 1.70 1.35 3.21 1.89 2.56 1.79 4.48 1.42
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
1,824 1,934 1,655 1,690 1,751 1,764 1,810 1,342 1,844 2,394 2,299 2,620
1,685 1,854 1,612 1,617 1,672 1,681 1,690 1,216 1,762 2,269 2,153 2,448
Operating Profit 139 80 42 73 79 83 120 126 82 124 146 173
OPM % 8% 4% 3% 4% 5% 5% 7% 9% 4% 5% 6% 7%
5 23 4 3 6 4 2 12 8 5 6 4
Interest 52 57 61 55 44 53 62 52 41 53 57 56
Depreciation 10 9 10 9 9 10 32 27 23 24 24 25
Profit before tax 83 38 -26 12 32 23 28 60 26 52 72 96
Tax % 34% 36% 7% -10% 34% 33% 24% 28% 22% 23% 24% 29%
55 24 -28 13 21 16 21 43 20 40 54 68
EPS in Rs 8.25 3.65 -4.13 1.94 3.19 2.33 3.21 6.48 3.02 6.02 8.16 10.25
Dividend Payout % 27% 27% 0% 0% 24% 32% 31% 39% 33% 29% 21% 22%
Compounded Sales Growth
10 Years: 3%
5 Years: 8%
3 Years: 12%
TTM: 14%
Compounded Profit Growth
10 Years: 14%
5 Years: 25%
3 Years: 50%
TTM: 26%
Stock Price CAGR
10 Years: 3%
5 Years: 48%
3 Years: 48%
1 Year: 87%
Return on Equity
10 Years: 5%
5 Years: 8%
3 Years: 9%
Last Year: 11%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Equity Capital 67 67 67 67 67 67 67 67 67 67 67 67
Reserves 381 397 369 389 410 417 414 456 461 494 535 590
568 588 650 549 569 606 637 438 588 575 614 792
301 237 210 187 174 334 350 254 341 339 243 320
Total Liabilities 1,316 1,289 1,296 1,192 1,219 1,423 1,468 1,215 1,457 1,475 1,459 1,769
97 108 109 103 103 111 174 140 152 159 151 164
CWIP 2 5 0 2 0 0 0 0 0 1 0 1
Investments 0 0 0 0 0 0 0 0 0 0 0 0
1,218 1,176 1,187 1,088 1,116 1,312 1,294 1,075 1,305 1,316 1,308 1,604
Total Assets 1,316 1,289 1,296 1,192 1,219 1,423 1,468 1,215 1,457 1,475 1,459 1,769

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
-30 15 14 153 42 32 149 231 -66 93 40 -27
-54 26 -11 0 -9 -21 -6 5 -2 -7 -7 -45
86 -47 -2 -155 -27 -16 -147 -233 71 -87 -29 85
Net Cash Flow 1 -7 1 -2 6 -4 -4 3 2 -0 4 13

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Debtor Days 1 0 0 0 5 5 1 1 0 0 3 0
Inventory Days 270 246 292 261 265 307 293 326 276 214 223 241
Days Payable 19 24 24 20 24 51 48 46 46 36 20 27
Cash Conversion Cycle 252 222 269 241 246 261 246 280 230 178 205 215
Working Capital Days 165 169 204 184 185 192 180 210 180 141 160 165
ROCE % 15% 8% 3% 6% 7% 7% 8% 11% 6% 9% 11% 11%

Shareholding Pattern

Numbers in percentages

Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025
74.12% 74.12% 74.12% 74.12% 74.12% 74.12% 74.12% 74.12% 74.12% 74.12% 74.12% 74.12%
1.28% 0.93% 0.59% 0.60% 0.56% 0.94% 1.82% 1.02% 0.76% 0.92% 0.60% 0.64%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.12% 0.07% 0.00%
24.61% 24.94% 25.29% 25.27% 25.31% 24.94% 24.05% 24.87% 25.12% 24.85% 25.20% 25.26%
No. of Shareholders 33,60132,12030,37829,62430,15229,29030,87631,11131,36949,52455,15453,666

* 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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