Tribhovandas Bhimji Zaveri Ltd.

•

tbztheoriginal.comBSE: 534369NSE: TBZ

Market Cap₹ 3,320 Cr.

Current Price

High / Low₹ 583 / 110

Stock P/E15.5

Book Value₹ 131

Price to Book0.89

Dividend Yield0.50 %

ROCE23.3 %

ROE27.1 %

Face Value₹ 10

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ABOUT

AI Sector View

AI GENERATED

Consumer Durables

Buy

Urban discretionary demand is mixed but investable. Credit card transactions rose 27.0% YoY (2026-06), urban CMIE sentiment was 109.5 (2026-07), and consumer spending remained large at INR 44743 billion (Jun/26), even though formal consumer confidence fell to 88.3 points (Jul/26) and debit card transactions were -9.0% YoY (2026-06). Heavy sector inflows of INR 13175 crore over 3 months to 2026-08-31 indicate strong investor positioning behind the theme.

Confidence

76%

View full sector analysis →

PROS

Company has delivered good profit growth of 36.1% CAGR over last 5 years
Latest quarter profit grew 50.8% YoY, showing strong momentum
Company has consistently been profitable over the last 5 years
Company has delivered good sales growth of 19.0% CAGR over last 5 years
Operating margins have improved to 11.5% from 5.4%

CONS

Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT 0.13x)
Though reporting repeated profits, the company pays out little dividend (8.2%)

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Consumer DurablesDiamond & JewelleryDiamond & Jewellery

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	TITAN	5010.00	77.22	444780.87	0.30	1777.00	62.88	21356.00	44.16	21.90	13.54
2.	KALYANKJIL	615.60	44.30	63576.15	0.41	348.67	32.03	10588.93	45.68	24.86	5.97
3.	LALITHAA	337.50	18.71	18890.21	0.00	2082.17	—	60312.32	—	43.11	6.18
4.	THANGAMAYL	5073.10	40.32	15768.22	0.35	85.09	86.15	2666.38	71.44	26.62	5.43
5.	PCJEWELLER	13.83	17.41	13487.20	0.00	221.88	37.02	877.04	20.99	9.68	27.54
6.	BLUESTONE	854.95	231.93	13061.82	0.00	59.61	271.56	7368.46	1395.59	9.24	14.50
7.	SKYGOLD	830.40	38.39	12860.73	0.00	104.90	140.67	2012.79	77.93	27.61	7.79
8.	AUGMONT	918.40	25.13	8391.74	0.00	—	—	—	—	70.86	—
9.	SENCO	350.05	10.05	5737.35	0.50	101.14	-3.35	3056.03	67.34	22.86	6.97
10.	GOLDIAM	328.15	23.43	4940.53	0.63	73.97	120.06	326.03	41.92	24.85	20.33
11.	VAIBHAVGBL	216.05	12.72	3624.66	2.78	563.83	1398.27	9170.73	1026.99	18.41	10.55
12.	TBZ	497.50	15.53	3319.85	0.50	33.92	50.76	840.97	34.78	23.29	8.60

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	571	481	741	506	596	567	928	529	624	688	1,061	830	841
	538	451	695	475	555	532	868	493	571	624	930	717	796
Operating Profit	32	30	46	31	41	35	60	36	53	64	131	112	45
OPM %	5.67%	6.18%	6.18%	6.18%	6.93%	6.20%	6.48%	6.75%	8.51%	9.33%	12.35%	13.54%	5.35%
	1	1	2	2	1	1	1	1	2	2	2	2	2
Interest	12	13	12	13	13	13	13	17	18	16	19	16	19
Depreciation	6	6	6	5	6	6	6	7	7	8	6	8	9
Profit before Tax	15	12	29	15	23	17	42	14	30	42	108	90	47
Tax %	25.02%	25.72%	26.27%	17.20%	27.14%	30.45%	28.16%	30.07%	24.50%	24.71%	25.69%	24.94%	27.28%
Net Profit	0	0	0	0	17	12	30	9	22	32	81	68	34
	1.70	1.35	3.21	1.89	2.55	1.79	4.48	1.42	3.37	4.73	12.08	10.14	5.08

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	1,690	1,751	1,764	1,810	1,342	1,844	2,394	2,299	2,620	3,203	3,420
	1,617	1,672	1,681	1,692	1,216	1,762	2,269	2,153	2,440	2,834	3,067
Operating Profit	73	79	82	118	126	82	124	146	181	369	353
OPM %	4.32%	4.52%	4.67%	6.53%	9.37%	4.42%	5.19%	6.34%	6.91%	11.52%	10.31%
	3	6	4	4	12	8	5	6	4	7	7
Interest	55	44	53	62	52	41	53	57	64	77	70
Depreciation	9	9	10	32	27	23	24	24	25	29	30
Profit before Tax	12	32	23	28	60	26	52	72	96	270	287
Tax %	-10.27%	33.49%	32.76%	23.68%	27.61%	22.22%	22.77%	23.97%	28.59%	25.15%	25.57%
Net Profit	13	21	16	21	43	20	40	54	68	202	214
EPS	0.00	0.00	0.00	0.00	6.48	3.02	6.02	8.16	10.25	30.32	—
Dividend Payout %	0.00%	23.54%	32.16%	31.16%	38.56%	33.06%	29.06%	21.46%	21.95%	8.25%	—

COMPOUNDED SALES GROWTH

10 Years:: 7%
5 Years:: 19%
3 Years:: 10%

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: 36%
3 Years:: 71%

STOCK PRICE CAGR

10 Years:: 23%
5 Years:: 47%
3 Years:: 69%
1 Year:: 180%

RETURN ON EQUITY

10 Years:: 8%
5 Years:: 12%
3 Years:: 16%
Last Year:: 27%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	67	67	67	67	67	67	67	67	67	67
	389	410	417	414	456	461	494	535	590	771
	550	570	607	609	400	567	554	599	771	868
Trade Payables	78	92	196	194	140	199	207	109	162	170
	110	91	146	206	188	204	209	221	240	343
Total Liabilities	1,194	1,229	1,433	1,489	1,252	1,498	1,530	1,531	1,830	2,219
	103	103	111	174	140	152	159	151	164	183
Capital Work in Progress	2	0	0	0	0	0	1	0	1	0
	1,027	1,021	1,179	1,181	984	1,204	1,223	1,197	1,461	1,773
	0	0	0	0	0	0	0	16	3	3
Cash & Bank	32	38	40	41	40	45	46	50	98	102
	31	67	103	93	88	97	103	117	103	159
Total Assets	1,194	1,229	1,433	1,489	1,252	1,498	1,530	1,531	1,830	2,219

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	152	48	42	160	247	-57	101	40	-27	30
Cash from Investing	0	-9	-21	-6	5	-2	-7	-7	-45	-10
Cash from Financing	-155	-27	-16	-147	-233	71	-87	-29	85	-17
	-2	6	-4	-4	3	2	-0	4	13	2

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	74.12	74.12	74.12	74.12	74.12	74.12	74.12	74.12
	0.92	0.60	0.64	0.55	0.00	0.00	0.26	1.47
	0.12	0.07	0.00	0.00	0.00	0.00	0.00	0.00
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	24.85	25.21	25.25	25.33	25.88	25.88	25.62	24.41

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-11

Credit Rating

2026-09-11 - Tribhovandas Bhimji Zaveri Limited has informed the Exchange about Credit Rating

2026-09-10

Shareholders meeting

2026-09-10 - Tribhovandas Bhimji Zaveri Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on September 09, 2026. Further, the company has informed the Exchange regarding voting results.

2026-09-09

General Updates

2026-09-09 - Tribhovandas Bhimji Zaveri Limited has informed the Exchange about Summary Proceedings of the Annual General Meeting

2026-09-09

Shareholders meeting

2026-09-09 - Tribhovandas Bhimji Zaveri Limited has informed the Exchange about Shareholders meeting

2026-09-07

Updates

2026-09-07 - Axis Capital Limited (Manager to the Offer) has submitted to the Exchange a Detailed public statement dated September 4, 2026 (the Detailed Public Statement ) in relation to the open offer to the Public Shareholders (as defined in the Public Announcement) of Tribhovandas Bhimji Zaveri Limited ( Open Offer ).

2026-09-07

General Updates

2026-09-07 - Tribhovandas Bhimji Zaveri Limited has informed the Exchange about Detailed Public Statement - Open Offer

2026-08-31

Public Announcement-Open Offer

2026-08-31 - Axis Capital Limited (Manager to the Offer) has submitted to the Exchange a copy of Public Announcement for the attention of the Public Shareholders of Tribhovandas Bhimji Zaveri Limited under Regulations 3(1), 3(2) and 4 read with Regulations 13(1), 13(2), 13(2A), 14 and 15(1) of the Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 and subsequent amendments thereto.

2026-08-31

Updates

2026-08-31 - Tribhovandas Bhimji Zaveri Limited has informed the Exchange regarding 'Receipt of Public Announcement in relation to Open Offer'.

2026-08-31

Press Release

2026-08-31 - Tribhovandas Bhimji Zaveri Limited has informed the Exchange regarding a press release dated August 31, 2026, titled "Press Release ".

News

Recent coverage and analyst commentary for TBZ

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Tribhovandas Bhimji Zaveri Ltd.

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Free 5nance Account

Name

TITAN

5010.00

77.22

444780.87

0.30

1777.00

62.88

21356.00

44.16

21.90

13.54

KALYANKJIL

615.60

44.30

63576.15

0.41

348.67

32.03

10588.93

45.68

24.86

5.97

LALITHAA

337.50

18.71

18890.21

0.00

2082.17

—

60312.32

—

43.11

6.18

THANGAMAYL

5073.10

40.32

15768.22

0.35

85.09

86.15

2666.38

71.44

26.62

5.43

PCJEWELLER

13.83

17.41

13487.20

0.00

221.88

37.02

877.04

20.99

9.68

27.54

BLUESTONE

854.95

231.93

13061.82

0.00

59.61

271.56

7368.46

1395.59

9.24

14.50

SKYGOLD

830.40

38.39

12860.73

0.00

104.90

140.67

2012.79

77.93

27.61

7.79

AUGMONT

918.40

25.13

8391.74

0.00

—

70.86

—

SENCO

350.05

10.05

5737.35

0.50

101.14

-3.35

3056.03

67.34

22.86

6.97

GOLDIAM

328.15

23.43

4940.53

0.63

73.97

120.06

326.03

41.92

24.85

20.33

VAIBHAVGBL

216.05

12.72

3624.66

2.78

563.83

1398.27

9170.73

1026.99

18.41

10.55

TBZ

497.50

15.53

3319.85

0.50

33.92

50.76

840.97

34.78

23.29

8.60

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

571

481

741

506

596

567

928

529

624

688

1,061

830

841

538

451

695

475

555

532

868

493

571

624

930

717

796

Operating Profit

131

112

OPM %

5.67%

6.18%

6.93%

6.20%

6.48%

6.75%

8.51%

9.33%

12.35%

13.54%

5.35%

Interest

Depreciation

Profit before Tax

108

Tax %

25.02%

25.72%

26.27%

17.20%

27.14%

30.45%

28.16%

30.07%

24.50%

24.71%

25.69%

24.94%

27.28%

Net Profit

1.70

1.35

3.21

1.89

2.55

1.79

4.48

1.42

3.37

4.73

12.08

10.14

5.08

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

1,690

1,751

1,764

1,810

1,342

1,844

2,394

2,299

2,620

3,203

3,420

1,617

1,672

1,681

1,692

1,216

1,762

2,269

2,153

2,440

2,834

3,067

Operating Profit

118

126

124

146

181

369

353

OPM %

4.32%

4.52%

4.67%

6.53%

9.37%

4.42%

5.19%

6.34%

6.91%

11.52%

10.31%

Interest

Depreciation

Profit before Tax

270

287

Tax %

-10.27%

33.49%

32.76%

23.68%

27.61%

22.22%

22.77%

23.97%

28.59%

25.15%

25.57%

Net Profit

202

214

EPS

0.00

6.48

3.02

6.02

8.16

10.25

30.32

—

Dividend Payout %

0.00%

23.54%

32.16%

31.16%

38.56%

33.06%

29.06%

21.46%

21.95%

8.25%

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

389

410

417

414

456

461

494

535

590

771

550

570

607

609

400

567

554

599

771

868

Trade Payables

196

194

140

199

207

109

162

170

110

146

206

188

204

209

221

240

343

Total Liabilities

1,194

1,229

1,433

1,489

1,252

1,498

1,530

1,531

1,830

2,219

103

111

174

140

152

159

151

164

183

Capital Work in Progress

1,027

1,021

1,179

1,181

984

1,204

1,223

1,197

1,461

1,773

Cash & Bank

102

103

117

103

159

Total Assets

1,194

1,229

1,433

1,489

1,252

1,498

1,530

1,531

1,830

2,219

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

152

160

247

-57

101

-27

Cash from Investing

-9

-21

-6

-2

-7

-45

-10

Cash from Financing

-155

-27

-16

-147

-233

-87

-29

-17

-2

-4

-0

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

74.12

0.92

0.60

0.64

0.55

0.00

0.26

1.47

0.12

0.07

0.00

Government

0.00

24.85

25.21

25.25

25.33

25.88

25.62

24.41

Tribhovandas Bhimji Zaveri Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

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Tribhovandas Bhimji Zaveri Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI