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Tribhovandas Bhimji Zaveri Ltd (TBZ)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 534369 NSE: TBZ Diamond & Jewellery | Small Cap | Tribhovandas Bhimji Share Price

₹168.75 5.60 (3.43%)

As on 09-Jun'26 13:46

Tribhovandas Bhimji Zaveri Ltd (TBZ)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 534369 NSE: TBZ Diamond & Jewellery | Small Cap | Tribhovandas Bhimji Share Price

₹168.75 5.60 (3.43%)

As on 09-Jun'26 13:46

Key Metrics
Valuation Multiples
Market Cap
₹1,089 Cr.
Current Price
₹168.8
52-Week Low / High
₹111 / 218
TTM EPS
₹30.3
TTM Sales
₹3,203 Cr.
Book Value per Share
₹125.6
P/E Ratio
5.38
Lower than its 5-year historical median
Industry PE
51.3
Price to Book (P/B)
1.30
Lower than its 5-year historical median
Price to Sales (P/S)
0.34
Lower than its 5-year historical median
EV/EBITDA
4.81
Lower than its 5-year historical median
Dividend Yield
1.23%
Profitability Efficiency
Return on Equity (ROE)
10.87%
Outperforms industry median
Return on Capital Employed (ROCE)
12.83%
Outperforms industry median
Return on Assets (ROA)
4.07%
Operating Profit Margin
6.9%
Net Profit Margin
2.61%
Gross Profit Margin
4.6%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
13.99%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
24.08%
Net Profit Growth (1 Year)
Slowing versus 3-year growth rate
25.65%
Asset Quality
Promoter Holding
74.12%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹771 Cr.
Equity
₹66.7 Cr.
Face Value
₹10
All Time Low / High
₹16.50 / 360.35

Tribhovandas Bhimji Zaveri stock performance

Key Ratios
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Quality

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Valuation

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Price Trend

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Q.1 Is Tribhovandas Bhimji Zaveri Ltd a good quality company?
Tribhovandas Bhimji Zaveri Ltd is a average quality company, based on a somewhat consistent multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does Tribhovandas Bhimji Zaveri Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Tribhovandas Bhimji Zaveri Ltd vs industry peers?
Tribhovandas Bhimji Zaveri Ltd revenue CAGR is 7.68%, compared to the industry median CAGR of 3.81%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of Tribhovandas Bhimji Zaveri Ltd?
Promoters hold 74.12% of the Tribhovandas Bhimji Zaveri Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Tribhovandas Bhimji Zaveri Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of 8.1% based on the current price.

10 Year X-Ray : Login to view analysis.

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Tribhovandas Bhimji Zaveri Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 3.3%6.4%7.5%7.2%8.5%11.6%6.9%10.1%11.8%12.8%-
Value Creation
Index
-0.8-0.5-0.5-0.5-0.4-0.2-0.5-0.3-0.2-0.1-

Growth Parameters

Sales 1,6551,6901,7511,7641,8101,3421,8442,3942,2992,6203,203
Sales YoY Gr.-2.1%3.6%0.7%2.6%-25.9%37.4%29.8%-4%14%-
Adj EPS -3.123.22.43.46.5368.110.330.3
YoY Gr.-NA64.1%-26.6%44.7%90.3%-53.2%98.7%35.1%26.2%-
BVPS (₹) 65.468.371.472.57278.479.18490.198.5125.6
Adj Net
Profit
-20.61321.315.722.743.220.240.254.268.5202
Cash Flow from Ops. 14.115341.532.4149231-66.293.239.7-26.9-
Debt/CF from Ops. 463.613.718.73.71.6-7.75.213.4-26.1-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 5.2%7.7%12.4%14%
Adj EPS NA24.7%50.2%26.2%
BVPS4.7%6.5%7.6%9.3%
Share Price 9.6% 15.8% 23.7% -12.4%

Key Financial Parameters

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
-4.62.94.63.34.78.63.97.49.310.927.1
Op. Profit
Mgn %
3.24.34.54.76.69.44.45.26.36.911.3
Net Profit
Mgn %
-1.20.81.20.91.33.21.11.72.42.66.3
Debt to
Equity
1.51.21.21.31.10.710.90.91.10
Working Cap
Days
278249212242257322234200210201112
Cash Conv.
Cycle
22321118620019724018515316616740

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales1,6551,6901,7511,7641,8101,3421,8442,3942,2992,620
Operating Expenses + 1,6121,6171,6721,6811,6921,2161,7622,2692,1532,440
Manufacturing Costs2225101115942751484256
Material Costs1,4061,4381,4091,4041,4691,1021,5942,0811,9592,214
Employee Cost 72807878815867748693
Other Costs 113758384482950666677
Operating Profit 4273798211812682124146181
Operating Profit Margin (%) 2.6%4.3%4.5%4.7%6.5%9.4%4.4%5.2%6.3%6.9%
Other Income + 43644128564
Exceptional Items 0000000000
Interest 61554453625241535764
Depreciation 109910322723242425
Profit Before Tax -26123223286026527296
Tax 2-11187176121727
Profit After Tax -28132116214320405468
PAT Margin (%) -1.7%0.8%1.2%0.9%1.2%3.2%1.1%1.7%2.4%2.6%
Adjusted EPS (₹)-4.11.93.22.33.26.53.06.08.210.3
Dividend Payout Ratio (%)0%0%23.50%32.20%31.20%38.60%33.10%29.10%21.50%22%

Valuation of Tribhovandas Bhimji - Consolidated

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 436456477484481523528560602657
Share Capital 67676767676767676767
Reserves 369389410417414456461494535590
Debt +646549569605548352507486533700
Long Term Debt8000020112
Short Term Debt638549569605548350507486532698
Minority Interest0000000000
Trade Payables927892196194140199207109162
Others Liabilities 22911192148266236265277287311
Total Liabilities 1,4031,1941,2291,4331,4891,2521,4981,5301,5311,830

Fixed Assets

Net Fixed Assets +109103103111174140152159151164
Gross Block150111120138232218229257269303
Accumulated Depreciation419172757787799119139
CWIP 0200000101
Investments 0000000000
Inventories1,1261,0271,0211,1791,1819841,2041,2231,1971,461
Trade Receivables1223263322163
Cash Equivalents 39323840414045465098
Others Assets 128284477908495101117103
Total Assets 1,4031,1941,2291,4331,4891,2521,4981,5301,5311,830

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + 141534232149231-669340-27
PBT -26123223286026527296
Adjustment 64594554886551666979
Changes in Working Capital -2481-28-3544123-135-17-83-176
Tax Paid -11-7-10-12-16-9-8-19-26
Cash Flow From Investing Activity + -110-9-21-65-2-7-7-45
Capex -10-7-9-15-2-1-1-8-9-12
Net Investments -46-0-7-65-2-0-0-35
Others 2201211122
Cash Flow From Financing Activity + -1-155-27-16-147-23371-87-2985
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing -4-12-0-0125-23-2-01
Interest Paid -56-51-40-47-46-39-28-36-41-44
Dividend Paid -700-6-140-17-7-12-12
Others 65-931337-88-219139-4224140
Net Cash Flow 1-26-4-432-0413

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)-6.122.94.563.244.448.623.847.399.3710.87
ROCE (%)3.326.417.457.168.511.566.910.0711.7512.83
Asset Turnover Ratio1.181.311.521.351.240.971.341.581.511.56
PAT to CFO Conversion(x)N/A11.77227.15.37-3.32.330.74-0.4
Working Capital Days
Receivable Days0.200.302.5052.900.900.500.201.401.40
Inventory Days247231.40202.50224.20236.90297.10216184.70191.60184.40
Payable Days2621.502237.4048.5055.4038.9035.6029.5022.40

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Tribhovandas Bhimji Zaveri Ltd FAQs

The current trading price of Tribhovandas Bhimji on 09-Jun-2026 13:46 is ₹168.8.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 08-Jun-2026 the market cap of Tribhovandas Bhimji stood at ₹1,088.7 Cr

The latest P/E ratio of Tribhovandas Bhimji as of 08-Jun-2026 is 5.43.

The latest P/B ratio of Tribhovandas Bhimji as of 08-Jun-2026 is 1.29.

The 52-week high of Tribhovandas Bhimji is ₹218.0 and the 52-week low is ₹111.0.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Tribhovandas Bhimji is ₹3,203 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Tribhovandas Bhimji Zaveri Ltd is a average quality company.

The key valuation ratios of Tribhovandas Bhimji Zaveri Ltd's currently when compared to its past seem to suggest it is in the Somewhat Undervalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Tribhovandas Bhimji Zaveri Ltd is likely to Rise in the short term. However, please check the rating on Quality and Valuation before investing

About Tribhovandas Bhimji Zaveri Ltd

The company’s flagship showroom in Zaveri Bazar, Mumbai was established in 1864. Since 2001, the company has opened several showrooms, including opening seven showrooms between August 2007 and October 2008. All of the company’s showrooms operate under the name of “Tribhovandas Bhimji Zaveri”. Late Shri Tribhovandas Bhimji Zaveri expanded the business by opening new showrooms. But it was his grandson, Late Shri Gopaldas Zaveri, who shook up the Indian market by offering customers a full value gold buy-back scheme.

Out of company’s 14 showrooms, 11 are termed as “large format” high street showrooms (carpet area of 3,000 sq. ft. or more) and three are termed as “small format” high street showrooms (carpet area of 1,000-3,000 sq. ft.). Four of company’s showrooms are in Mumbai, Maharashtra; one is in Thane, Maharashtra; one is in Pune, Maharashtra; two are in Hyderabad, Andhra Pradesh; one is in Vijayawada, Andhra Pradesh; one is in Ahmedabad, Gujarat; one is in Surat, Gujarat; one is in Rajkot, Gujarat; one is in Indore, Madhya Pradesh; and one is in Kochi, Kerala.

Further, the company plans to open an additional 43 showrooms (25 large format high street showrooms and 18 small format high street showrooms) by the end of Fiscal 2015, which would give them a total of 57 showrooms (with a total carpet area of approximately 150,000 square feet.) in 43 cities across 14 states.

The company is having branches in:

  • Mumbai - Zaveri Bazar, Borivali, Ghatkopar, Santacruz, Thane and Churchgate
  • Pune
  • Surat
  • Ahmedabad
  • Rajkot
  • Vadodara
  • Hyderabad - Punjagutta and Basheerbagh
  • Vijaywada
  • Indore
  • Kochi

Product Range

  • Gold - Necklaces, Ear-rings, Rings, Chain, Bangles
  • Diamond- Necklaces, Waist-belts, Ear-rings, Rings, Bangles
  • Platinium- Necklaces, Ear-rings, Love Bands, Rings, Bangles

Apart from these, the company also has Wedding, Men's, Temple, Dohra, Surprises, Showstopper and Azvaa collection.

The company is having an exclusive Kalpavruksha Plan through which one can own exquisite 22kt gold, diamond or platinum jewellry through easy installments’.

Awards

2010
Retail Jewellers India Awards - Gold Vivah Jewellery of the Year

2011
 Retail Jewellers India Awards - TV Campaign of the Year
 IJ Jewellers Choice Awards - Best Necklace Design
 IJ Jewellers Choice Awards - Best Bridal Design
 IJ Jewellers Choice Awards - Kundan Meena Jewellery Award

2012
National Jewellery Award - Best Advertising Campaign of the Year (Print)
Asia Retail Congress Awards in two categories - i. Best Impactful  Retail Design and Visual Merchandising and ii. Innovative Retail Concept of the Year

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