Tribhovandas Bhimji Zaveri Ltd

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Tribhovandas Bhimji Zaveri Ltd

₹ 126 0.84%
18 Apr - close price
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 ₹ 838 Cr.
  • Current Price ₹ 126
  • High / Low ₹ 145 / 66.0
  • Stock P/E 15.6
  • Book Value ₹ 85.1
  • Dividend Yield 1.39 %
  • ROCE 9.30 %
  • ROE 7.39 %
  • Face Value ₹ 10.0
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Pros

  • Company has been maintaining a healthy dividend payout of 33.6%
  • Company's working capital requirements have reduced from 177 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 6.59% 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

Consolidated Figures in Rs. Crores / View Standalone

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
555 345 195 434 724 415 561 514 768 434 538 451 695
Operating Profit 68 21 -1 22 39 17 18 23 44 31 32 30 46
OPM % 11% 6% -1% 5% 5% 4% 3% 4% 5% 7% 6% 6% 6%
2 3 2 2 1 2 2 1 1 1 1 1 2
Interest 11 8 8 8 10 9 12 10 11 12 12 13 12
Depreciation 7 6 6 6 6 5 6 6 6 6 6 6 6
Profit before tax 53 12 -13 10 25 4 3 8 27 14 15 12 29
Tax % 24% 19% 26% 25% 25% 10% 30% 27% 25% 15% 25% 26% 26%
40 9 -10 7 19 4 2 5 21 12 11 9 21
EPS in Rs 6.00 1.40 -1.47 1.10 2.85 0.54 0.37 0.82 3.08 1.76 1.70 1.35 3.21
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

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 1,824 1,934 1,655 1,690 1,751 1,764 1,810 1,342 1,844 2,394 2,257
1,261 1,505 1,685 1,854 1,612 1,617 1,672 1,681 1,690 1,216 1,762 2,269 2,118
Operating Profit 125 153 139 80 42 73 79 83 120 126 82 124 139
OPM % 9% 9% 8% 4% 3% 4% 5% 5% 7% 9% 4% 5% 6%
1 4 5 23 4 3 6 4 2 12 8 5 4
Interest 33 25 52 57 61 55 44 53 62 52 41 53 49
Depreciation 6 8 10 9 10 9 9 10 32 27 23 24 25
Profit before tax 87 124 83 38 -26 12 32 23 28 60 26 52 70
Tax % 34% 32% 34% 36% -7% -10% 34% 33% 24% 28% 22% 23%
57 84 55 24 -28 13 21 16 21 43 20 40 54
EPS in Rs 12.67 8.25 3.65 -4.13 1.94 3.19 2.33 3.21 6.48 3.02 6.02 8.02
Dividend Payout % 9% 18% 27% 27% 0% 0% 24% 32% 31% 39% 33% 29%
Compounded Sales Growth
10 Years: 4%
5 Years: 6%
3 Years: 10%
TTM: -4%
Compounded Profit Growth
10 Years: -7%
5 Years: 14%
3 Years: 21%
TTM: 67%
Stock Price CAGR
10 Years: -1%
5 Years: 13%
3 Years: 28%
1 Year: 90%
Return on Equity
10 Years: 5%
5 Years: 6%
3 Years: 7%
Last Year: 7%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

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 110 343 381 397 369 389 410 417 414 456 461 494 501
208 419 568 588 650 549 569 606 637 438 588 575 620
216 351 301 237 210 187 174 334 350 254 341 339 252
Total Liabilities 583 1,181 1,316 1,289 1,296 1,192 1,219 1,423 1,468 1,215 1,457 1,475 1,440
51 90 97 108 109 103 103 111 174 140 152 159 158
CWIP 1 2 2 5 0 2 0 0 0 0 0 1 1
Investments 0 0 0 0 0 0 0 0 0 0 0 0 0
532 1,089 1,218 1,176 1,187 1,088 1,116 1,312 1,294 1,075 1,305 1,316 1,282
Total Assets 583 1,181 1,316 1,289 1,296 1,192 1,219 1,423 1,468 1,215 1,457 1,475 1,440

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
38 -303 -30 15 14 153 42 32 149 231 -66 93
-6 -62 -54 26 -11 0 -9 -21 -6 5 -2 -7
-35 372 86 -47 -2 -155 -27 -16 -147 -233 71 -87
Net Cash Flow -2 8 1 -7 1 -2 6 -4 -4 3 2 -0

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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 162 279 270 246 292 261 265 307 293 326 276 214
Days Payable 28 46 19 24 24 20 24 51 48 46 46 36
Cash Conversion Cycle 135 233 252 222 269 241 246 261 246 280 230 178
Working Capital Days 78 152 165 169 204 184 185 192 180 210 180 141
ROCE % 35% 25% 15% 8% 3% 6% 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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