
TBZ - Tribhovandas Bhimji Zaveri Limited Share Price
Consumer Durables
Valuation | |
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Market Cap | 1.43 kCr |
Price/Earnings (Trailing) | 19.42 |
Price/Sales (Trailing) | 0.54 |
EV/EBITDA | 11.11 |
Price/Free Cashflow | -36.93 |
MarketCap/EBT | 14.03 |
Enterprise Value | 2.11 kCr |
Fundamentals | |
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Revenue (TTM) | 2.62 kCr |
Rev. Growth (Yr) | 4.8% |
Earnings (TTM) | 68.39 Cr |
Earnings Growth (Yr) | 32% |
Profitability | |
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Operating Margin | 4% |
EBT Margin | 4% |
Return on Equity | 10.41% |
Return on Assets | 3.87% |
Free Cashflow Yield | -2.71% |
Price to Sales Ratio
Revenue (Last 12 mths)
Net Income (Last 12 mths)
Growth & Returns | |
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Price Change 1W | 15% |
Price Change 1M | 8.1% |
Price Change 6M | 16% |
Price Change 1Y | 51.5% |
3Y Cumulative Return | 42.1% |
5Y Cumulative Return | 42.5% |
7Y Cumulative Return | 15.7% |
10Y Cumulative Return | 4.1% |
Cash Flow & Liquidity | |
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Cash Flow from Investing (TTM) | -45.04 Cr |
Cash Flow from Operations (TTM) | -26.85 Cr |
Cash Flow from Financing (TTM) | 84.94 Cr |
Cash & Equivalents | 24.98 Cr |
Free Cash Flow (TTM) | -38.81 Cr |
Free Cash Flow/Share (TTM) | -5.82 |
Balance Sheet | |
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Total Assets | 1.77 kCr |
Total Liabilities | 1.11 kCr |
Shareholder Equity | 657.21 Cr |
Current Assets | 1.59 kCr |
Current Liabilities | 1.02 kCr |
Net PPE | 86.07 Cr |
Inventory | 1.46 kCr |
Goodwill | 0.00 |
Capital Structure & Leverage | |
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Debt Ratio | 0.4 |
Debt/Equity | 1.07 |
Interest Coverage | 0.71 |
Interest/Cashflow Ops | 0.52 |
Dividend & Shareholder Returns | |
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Dividend/Share (TTM) | 3.5 |
Dividend Yield | 0.87% |
Shares Dilution (1Y) | 0.00% |
Shares Dilution (3Y) | 0.00% |
Risk & Volatility | |
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Max Drawdown | -9% |
Drawdown Prob. (30d, 5Y) | 45.38% |
Risk Level (5Y) | 54.4% |
Summary of Latest Earnings Report from Tribhovandas Bhimji Zaveri
Summary of Tribhovandas Bhimji Zaveri's latest earnings call, featuring management's outlook on business performance, financial results, and analyst Q&A sessions that highlight key strategic initiatives and market challenges.
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Management Outlook:
TBZ's management remains optimistic about future growth, emphasizing resilience in a competitive market. They aim to balance strategic expansion with profitability, focusing on operational efficiency and prudent financial management. The company plans to open 2-3 new stores (own and franchise) in Q4 FY24 or early FY25, targeting "profitable market share" over rapid scale. Management expects improved revenue momentum in Q4 FY24 (boosted by January sales uptick) and targets 15-20% revenue growth in FY25 alongside EBITDA margin expansion to 6.5%+. Diamond jewelry demand is rising, with its contribution increasing to 23% in Q3 (vs. 20% YoY).
Major Points:
Financial Performance:
- Gross profit rose 13.5% YoY in Q3 (margin: 12.46%); EBITDA margin expanded to 6.1% (+77 bps YoY).
- Revenue declined due to gold price volatility, reduced low-margin corporate sales, and a delayed wedding season.
Expansion Strategy:
- Opened a new showroom in Vapi (Gujarat) and plans 2 more stores soon.
- Actively negotiating 5-8 franchise (FOFO) partnerships, prioritizing profitability over aggressive store count growth.
Demand & Margins:
- Wedding demand in Q3 was "flattish" due to high gold prices, but Q4 is expected to improve.
- Margin growth driven by cost optimization, supply chain improvements, and a shift toward higher-margin diamond jewelry.
Market Sentiment:
- No significant election-related demand risks anticipated; long-term optimism tied to India's economic growth.
Franchise Model:
- Focus on FOFO stores to minimize capital expenditure; franchisees bear inventory and operational costs while TBZ provides branding/design support.
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Question 1: "I just like to know that there's a degrowth in the revenue, while the other company has shown a growth in the jewellery states? Any reason why our companies see the degrowth in the revenue?"
Answer Summary: Revenue decline attributed to competitors' new store expansions (not same-store growth), reduced low-margin corporate sales, gold price surges post-Diwali impacting volumes, and a 15-day shift in the wedding season to Q4.
Question 2: "By when can we expect the other stores to open up?"
Answer Summary: Two new stores planned for Q4 FY24 or early Q1 FY25, with 5"“8 franchise stores under negotiation for FY25. Expansion is cautious, prioritizing profitability over rapid growth.
Question 3: "What kind of demand you foresee for this particular quarter because there is a marriage season...?"
Answer Summary: Strong January sales indicate a positive Q4 outlook, with expectations of year-on-year growth driven by wedding season demand.
Question 4: "Does the management want to get more aggressive [with store openings]?"
Answer Summary: Focus remains on profitable market share, with 5"“8 franchise stores in active discussions. Selective expansion avoids "nooks and corners," prioritizing sustainability.
Question 5: "How is the wedding market?"
Answer Summary: Wedding season demand is flat YoY due to high gold prices, but not severely impacted.
Question 6: "What will be the share of studded jewellery in Q3?"
Answer Summary: Diamond jewelry share improved to 23% (vs. 20% YoY), reflecting a shift in product mix.
Question 7: "What EBITDA margin target is TBZ aiming for?"
Answer Summary: Margins are on an upward trajectory, expected to exceed 6.5% in near quarters and remain sustainable via cost optimization and operational efficiencies.
Question 8: "What is the franchise store expansion plan?"
Answer Summary: Franchisee-owned stores (FOFO) prioritized in FY25, with 5"“8 in discussion. Capital expenditure and inventory handled by franchisees; TBZ focuses on brand support.
Question 9: "What revenue growth guidance exists for FY25?"
Answer Summary: Targeting 15"“20% YoY revenue growth via same-store sales and new outlets, with improved margins from operating leverage.
Question 10: "How will elections impact demand?"
Answer Summary: No significant election-related demand risk anticipated; positive economic momentum expected to sustain growth.
Question 11: "How is the new Vapi store performing?"
Answer Summary: Vapi's smaller-format store shows promising traction and profitability, serving as a strategic experiment for future expansions.
Question 12: "How are franchise store margins structured?"
Answer Summary: Franchise models vary regionally, sharing gross margins while franchisees bear expenses. Focus on ROI for both parties, avoiding fixed margin commitments.
Share Holdings
Understand Tribhovandas Bhimji Zaveri ownership landscape with insights into key distribution patterns, offering investors a clear view of stakeholder dynamics.
Holding Pattern
Share Holding Details
Shareholder Name | Holding % |
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SHRIKANT GOPALDAS ZAVERI | 50.06% |
BINAISHA SHRIKANT ZAVERI | 7.92% |
RAASHI ZAVERI | 6.85% |
BINDU SHRIKANT ZAVERI | 5.24% |
MALABAR GOLD | 2.89% |
TRIBHOVANDAS BHIMJI ZAVERI (TBZ) PRIVATE LIMITED | 2.02% |
TRIBHOVANDAS BHIMJI ZAVERI JEWELLERS (MUMBAI) P | 2.02% |
VIJAYKUMAR CHHOTABHAI KALIDAS PATEL | 1.03% |
Overall Distribution
Distribution across major stakeholders
Ownership Distribution
Distribution across major institutional holders
Is Tribhovandas Bhimji Zaveri Better than it's peers?
Detailed comparison of Tribhovandas Bhimji Zaveri against industry peers, highlighting key financial metrics, valuation ratios, and performance indicators to provide competitive context within the sector.
Sector Comparison: TBZ vs Consumer Durables
Comprehensive comparison against sector averages
Comparative Metrics
TBZ metrics compared to Consumer
Category | TBZ | Consumer |
---|---|---|
PE | 20.97 | 74.56 |
PS | 0.55 | 0.76 |
Growth | 13.9 % | 51.8 % |
Performance Comparison
TBZ vs Consumer (2021 - 2025)
- 1. TBZ is NOT among the Top 10 largest companies in Gems, Jewellery And Watches.
- 2. The company holds a market share of 0.5% in Gems, Jewellery And Watches.
- 3. In last one year, the company has had a below average growth that other Gems, Jewellery And Watches companies.
Income Statement for Tribhovandas Bhimji Zaveri
Balance Sheet for Tribhovandas Bhimji Zaveri
Cash Flow for Tribhovandas Bhimji Zaveri
What does Tribhovandas Bhimji Zaveri Limited do?
Tribhovandas Bhimji Zaveri Limited designs, manufactures, retails, and sells jewelry primarily in India. The company's products portfolio includes bangles, pendants, rings, necklaces, bracelets, earrings, coins, and mangalsutras. It also provides products in a various style, such as gold, diamond studded, precious and semi-precious stone studded, and plain and diamond studded platinum; lightweight and contemporary jewelry; temple jewelry; jewelry with colored stones studded in gold; loose diamonds; solitaires; loose precious and semi-precious stones; and jadau jewelry. In addition, the company involved in franchise related business. It operates through stores and franchise stores. Tribhovandas Bhimji Zaveri Limited was founded in 1864 and is based in Mumbai, India.