Tribhovandas Bhimji Zaveri Ltd

₹ 76.6 -0.20%
07 Dec - close price
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]

  • Market Cap 511 Cr.
  • Current Price 76.6
  • High / Low 90.9 / 50.8
  • Stock P/E 16.7
  • Book Value 79.2
  • Dividend Yield 1.31 %
  • ROCE 6.44 %
  • ROE 3.86 %
  • Face Value 10.0

Pros

  • Stock is trading at 0.97 times its book value
  • Company is expected to give good quarter
  • Company has been maintaining a healthy dividend payout of 34.3%

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of 1.76% over past five years.
  • Company has a low return on equity of 5.70% 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.

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022
393.20 644.56 342.52 79.46 273.18 623.28 366.08 193.67 455.88 762.80 431.49 579.89 536.80
371.40 603.50 319.42 89.13 231.62 554.79 344.62 195.03 434.29 723.59 414.66 561.48 513.96
Operating Profit 21.80 41.06 23.10 -9.67 41.56 68.49 21.46 -1.36 21.59 39.21 16.83 18.41 22.84
OPM % 5.54% 6.37% 6.74% -12.17% 15.21% 10.99% 5.86% -0.70% 4.74% 5.14% 3.90% 3.17% 4.25%
1.07 0.84 1.06 4.40 2.42 2.12 3.38 1.87 2.39 1.47 2.05 2.34 1.03
Interest 14.46 13.35 14.21 14.95 14.18 10.87 7.78 8.04 8.48 9.64 9.42 11.61 10.10
Depreciation 7.52 7.96 8.64 7.03 7.34 6.72 5.52 5.70 5.67 5.69 5.45 5.65 6.24
Profit before tax 0.89 20.59 1.31 -27.25 22.46 53.02 11.54 -13.23 9.83 25.35 4.01 3.49 7.53
Tax % 41.57% 29.33% -116.79% 24.18% 35.35% 24.48% 18.80% 26.00% 25.13% 24.93% 10.22% 29.80% 27.22%
Net Profit 0.52 14.56 2.84 -20.66 14.52 40.04 9.37 -9.79 7.36 19.02 3.60 2.44 5.47
EPS in Rs 0.08 2.18 0.43 -3.10 2.18 6.00 1.40 -1.47 1.10 2.85 0.54 0.37 0.82
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
1,194 1,385 1,658 1,824 1,934 1,655 1,690 1,751 1,764 1,810 1,342 1,844 2,311
1,105 1,261 1,505 1,685 1,854 1,612 1,617 1,672 1,681 1,690 1,216 1,762 2,214
Operating Profit 89 125 153 139 80 42 73 79 83 120 126 82 97
OPM % 7% 9% 9% 8% 4% 3% 4% 5% 5% 7% 9% 4% 4%
0 1 4 5 23 4 3 6 4 2 12 8 7
Interest 25 33 25 52 57 61 55 44 53 62 52 41 41
Depreciation 5 6 8 10 9 10 9 9 10 32 27 23 23
Profit before tax 60 87 124 83 38 -26 12 32 23 28 60 26 40
Tax % 35% 34% 32% 34% 36% -7% -10% 34% 33% 24% 28% 22%
Net Profit 39 57 84 55 24 -28 13 21 16 21 43 20 31
EPS in Rs 12.67 8.25 3.65 -4.13 1.94 3.19 2.33 3.21 6.48 3.02 4.58
Dividend Payout % -0% 9% 18% 27% 27% -0% -0% 24% 32% 31% 39% 33%
Compounded Sales Growth
10 Years: 3%
5 Years: 2%
3 Years: 1%
TTM: 41%
Compounded Profit Growth
10 Years: -10%
5 Years: 9%
3 Years: 9%
TTM: -35%
Stock Price CAGR
10 Years: -12%
5 Years: -9%
3 Years: 26%
1 Year: -3%
Return on Equity
10 Years: 6%
5 Years: 5%
3 Years: 6%
Last Year: 4%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Sep 2022
50 50 67 67 67 67 67 67 67 67 67 67 67
Reserves 57 110 343 381 397 369 389 410 417 414 456 461 462
207 208 419 568 588 650 549 569 606 637 438 588 574
198 216 351 301 237 210 187 174 334 350 254 341 355
Total Liabilities 512 583 1,181 1,316 1,289 1,296 1,192 1,219 1,423 1,468 1,215 1,457 1,456
51 51 90 97 108 109 103 103 111 174 140 152 151
CWIP -0 1 2 2 5 -0 2 -0 -0 -0 -0 -0 -0
Investments 0 0 0 0 0 0 0 0 0 0 0 0 0
461 532 1,089 1,218 1,176 1,187 1,088 1,116 1,312 1,294 1,075 1,305 1,305
Total Assets 512 583 1,181 1,316 1,289 1,296 1,192 1,219 1,423 1,468 1,215 1,457 1,456

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
29 38 -303 -30 15 14 153 42 32 149 231 -66
-12 -6 -62 -54 26 -11 0 -9 -21 -6 5 -2
-14 -35 372 86 -47 -2 -155 -27 -16 -147 -233 71
Net Cash Flow 2 -2 8 1 -7 1 -2 6 -4 -4 3 2

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 3 1 0 1 0 0 0 5 5 1 1 0
Inventory Days 155 162 279 270 246 292 261 265 307 293 326 276
Days Payable 40 28 46 19 24 24 20 24 51 48 46 46
Cash Conversion Cycle 118 135 233 252 222 269 241 246 261 246 280 230
Working Capital Days 76 78 152 165 169 204 184 185 192 180 210 180
ROCE % 44% 35% 25% 15% 8% 3% 6% 7% 7% 8% 11% 6%

Shareholding Pattern

Numbers in percentages

Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022
74.12 74.12 74.12 74.12 74.12 74.12 74.12 74.12 74.12 74.12 74.12 74.12
0.54 0.54 0.54 0.54 0.54 0.54 0.78 1.38 1.45 1.31 1.28 0.93
0.20 0.06 0.00 0.00 0.00 0.00 0.00 0.01 0.00 0.00 0.00 0.00
25.14 25.28 25.34 25.34 25.34 25.34 25.10 24.50 24.43 24.57 24.61 24.94

* The XBRL reporting format changed from Sep'2022 onwards. The new format added details about banks and foreign portfolio investors. These were not available earlier.
The sudden increase in FII or DII might be because of these changes.

Please click on the line-items to see the names of individual entities.

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