Tribhovandas Bhimji Zaveri Ltd.

•

tbztheoriginal.comBSE: 534369NSE: TBZ

Market Cap₹ 3,494 Cr.

Current Price

High / Low₹ 583 / 110

Stock P/E16.5

Book Value₹ 132

Price to Book0.88

Dividend Yield0.48 %

ROCE23.0 %

ROE26.5 %

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 36.0% CAGR over last 5 years
Latest quarter profit grew 56.9% YoY, showing strong momentum
Company has delivered good sales growth of 19.0% CAGR over last 5 years
Operating margins have improved to 11.4% from 5.4%
Company generates healthy free cash flow
Company has a consistent dividend-paying track record

CONS

Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT 0.12x)
Though reporting repeated profits, the company pays out little dividend (8.3%)

* 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	4989.80	76.91	442987.54	0.30	1777.00	62.88	21356.00	44.16	21.90	13.54
2.	KALYANKJIL	608.00	43.76	62791.26	0.41	348.67	32.03	10588.93	45.68	24.86	5.97
3.	LALITHAA	334.70	18.55	18733.49	0.00	—	—	—	—	43.11	—
4.	THANGAMAYL	5114.40	40.65	15896.59	0.35	85.09	86.15	2666.38	71.44	26.62	5.43
5.	PCJEWELLER	13.88	17.47	13535.96	0.00	221.88	37.02	877.04	20.99	9.68	27.54
6.	BLUESTONE	872.05	236.57	13323.07	0.00	59.61	271.56	7368.46	1395.59	9.24	14.50
7.	SKYGOLD	832.75	38.50	12897.12	0.00	104.90	140.67	2012.79	77.93	27.61	7.79
8.	AUGMONT	897.00	24.55	8196.20	0.00	—	—	—	—	70.86	—
9.	SENCO	355.60	10.21	5828.32	0.49	1011.43	866.46	30560.27	1573.37	22.86	6.97
10.	GOLDIAM	329.75	23.54	4964.62	0.63	73.97	120.06	326.03	41.92	24.85	20.33
11.	VAIBHAVGBL	214.80	12.65	3603.69	2.79	563.83	1398.27	9170.73	1026.99	18.41	10.55
12.	TBZ	523.65	16.35	3494.35	0.48	33.92	50.76	840.97	34.78	23.29	8.60

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	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
	539	451	696	475	554	531	867	493	573	625	929	718	797
Operating Profit	32	30	45	31	43	36	60	36	51	63	132	112	44
OPM %	5.64%	6.16%	6.10%	6.12%	7.14%	6.39%	6.52%	6.85%	8.23%	9.17%	12.44%	13.45%	5.20%
	1	1	2	2	1	1	1	1	2	2	2	2	2
Interest	12	13	12	13	13	13	13	17	18	16	18	16	19
Depreciation	6	6	6	5	6	6	6	7	7	8	6	8	9
Profit before Tax	15	12	29	15	25	18	42	14	28	41	110	90	46
Tax %	24.95%	25.43%	26.71%	17.33%	25.58%	28.39%	27.74%	28.61%	25.85%	25.21%	25.42%	25.08%	27.91%
Net Profit	11	9	21	12	18	13	30	10	21	31	82	67	33
	1.71	1.37	3.14	1.87	2.77	1.98	4.57	1.53	3.14	4.60	12.25	10.05	4.92

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	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
	1,614	1,674	1,683	1,693	1,217	1,766	2,271	2,154	2,436	2,837	3,069
Operating Profit	76	78	81	117	125	78	123	145	184	366	350
OPM %	4.47%	4.44%	4.57%	6.49%	9.30%	4.21%	5.12%	6.29%	7.03%	11.44%	10.25%
	4	7	6	5	13	8	6	7	5	8	8
Interest	55	44	53	62	52	41	53	57	64	77	70
Depreciation	9	8	10	32	26	22	24	23	25	29	30
Profit before Tax	16	32	23	29	60	23	52	71	100	268	286
Tax %	-6.85%	34.01%	33.78%	24.02%	27.81%	25.20%	23.00%	24.11%	27.44%	25.31%	25.68%
Net Profit	17	21	15	22	43	17	40	54	72	200	212
EPS	0.00	0.00	0.00	0.00	6.46	2.56	5.95	8.10	10.84	30.04	—
Dividend Payout %	0.00%	23.77%	32.70%	30.42%	38.72%	39.00%	29.43%	21.62%	20.75%	8.32%	—

COMPOUNDED SALES GROWTH

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

COMPOUNDED PROFIT GROWTH

10 Years:: —
5 Years:: 36%
3 Years:: 72%

STOCK PRICE CAGR

10 Years:: 23%
5 Years:: 46%
3 Years:: 63%
1 Year:: 168%

RETURN ON EQUITY

10 Years:: 8%
5 Years:: 11%
3 Years:: 16%
Last Year:: 26%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	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
	399	420	427	425	467	468	501	541	601	780
	550	570	607	609	400	567	554	599	771	868
Trade Payables	77	90	195	193	140	202	208	111	162	170
	102	82	144	203	186	202	207	219	239	341
Total Liabilities	1,195	1,229	1,441	1,497	1,260	1,507	1,537	1,538	1,839	2,226
	99	100	108	171	137	131	138	131	144	163
Capital Work in Progress	2	0	0	0	0	0	1	0	1	0
	3	2	2	2	2	12	12	12	12	12
	1,027	1,022	1,187	1,191	996	1,206	1,223	1,197	1,463	1,773
	0	0	0	0	0	0	0	16	3	3
Cash & Bank	31	37	40	41	39	45	45	49	98	102
	33	68	105	92	86	113	118	133	117	174
Total Assets	1,195	1,229	1,441	1,497	1,260	1,507	1,537	1,538	1,839	2,226

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	152	46	41	158	247	-48	100	38	-27	29
Cash from Investing	1	-5	-19	-4	6	-11	-6	-6	-44	-9
Cash from Financing	-155	-27	-16	-147	-233	71	-87	-29	85	-17
	-2	7	-4	-4	3	3	-0	3	14	2

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	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

2026-09-10

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 ".

2026-08-31

Disclosure of material issue

2026-08-31 - Tribhovandas Bhimji Zaveri Limited has informed regarding Disclosure under regulation 30 and 30A of SEBI (LODR), Regulations, 2015

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

4989.80

76.91

442987.54

0.30

1777.00

62.88

21356.00

44.16

21.90

13.54

KALYANKJIL

608.00

43.76

62791.26

0.41

348.67

32.03

10588.93

45.68

24.86

5.97

LALITHAA

334.70

18.55

18733.49

0.00

—

43.11

—

THANGAMAYL

5114.40

40.65

15896.59

0.35

85.09

86.15

2666.38

71.44

26.62

5.43

PCJEWELLER

13.88

17.47

13535.96

0.00

221.88

37.02

877.04

20.99

9.68

27.54

BLUESTONE

872.05

236.57

13323.07

0.00

59.61

271.56

7368.46

1395.59

9.24

14.50

SKYGOLD

832.75

38.50

12897.12

0.00

104.90

140.67

2012.79

77.93

27.61

7.79

AUGMONT

897.00

24.55

8196.20

0.00

—

70.86

—

SENCO

355.60

10.21

5828.32

0.49

1011.43

866.46

30560.27

1573.37

22.86

6.97

GOLDIAM

329.75

23.54

4964.62

0.63

73.97

120.06

326.03

41.92

24.85

20.33

VAIBHAVGBL

214.80

12.65

3603.69

2.79

563.83

1398.27

9170.73

1026.99

18.41

10.55

TBZ

523.65

16.35

3494.35

0.48

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

539

451

696

475

554

531

867

493

573

625

929

718

797

Operating Profit

132

112

OPM %

5.64%

6.16%

6.10%

6.12%

7.14%

6.39%

6.52%

6.85%

8.23%

9.17%

12.44%

13.45%

5.20%

Interest

Depreciation

Profit before Tax

110

Tax %

24.95%

25.43%

26.71%

17.33%

25.58%

28.39%

27.74%

28.61%

25.85%

25.21%

25.42%

25.08%

27.91%

Net Profit

1.71

1.37

3.14

1.87

2.77

1.98

4.57

1.53

3.14

4.60

12.25

10.05

4.92

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

1,614

1,674

1,683

1,693

1,217

1,766

2,271

2,154

2,436

2,837

3,069

Operating Profit

117

125

123

145

184

366

350

OPM %

4.47%

4.44%

4.57%

6.49%

9.30%

4.21%

5.12%

6.29%

7.03%

11.44%

10.25%

Interest

Depreciation

Profit before Tax

100

268

286

Tax %

-6.85%

34.01%

33.78%

24.02%

27.81%

25.20%

23.00%

24.11%

27.44%

25.31%

25.68%

Net Profit

200

212

EPS

0.00

6.46

2.56

5.95

8.10

10.84

30.04

—

Dividend Payout %

0.00%

23.77%

32.70%

30.42%

38.72%

39.00%

29.43%

21.62%

20.75%

8.32%

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

399

420

427

425

467

468

501

541

601

780

550

570

607

609

400

567

554

599

771

868

Trade Payables

195

193

140

202

208

111

162

170

102

144

203

186

202

207

219

239

341

Total Liabilities

1,195

1,229

1,441

1,497

1,260

1,507

1,537

1,538

1,839

2,226

100

108

171

137

131

138

131

144

163

Capital Work in Progress

1,027

1,022

1,187

1,191

996

1,206

1,223

1,197

1,463

1,773

Cash & Bank

102

105

113

118

133

117

174

Total Assets

1,195

1,229

1,441

1,497

1,260

1,507

1,537

1,538

1,839

2,226

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

152

158

247

-48

100

-27

Cash from Investing

-5

-19

-4

-11

-6

-44

-9

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

Sign in to Chat with AI

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