RBZJEWEL

RBZ Jewellers Limited

Gold jewellery manufacturer and retailer with wholesale and retail business

Consumer Discretionary›Consumer Durables›Consumer Durables›Gems, Jewellery And Watches

rbzjewellers.com(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹199.41
Market cap
799 Cr
Stock P/E
14.1
P/B
2.66
ROE (FY26)
18.3%
ROCE (FY26)
20.0%
Operating margin (FY26)
13.8%
Debt / equity (FY26)
0.47
OCF / EBITDA (FY26)
-8.0%
OCF / EBITDA (3Y)
-36.2%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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What you need to know

RBZ Jewellers manufactures gold jewellery for other jewellers on wholesale and job-work terms and, increasingly, sells directly to consumers through its Harit Zaveri Jewellers retail showroom in Ahmedabad.

Company snapshot

30thBy market cap

Ranked among 39 companies in Gems, Jewellery And Watches.

What we see

Positives
  • ✓Return on equity of 18.3% — the company generates strong returns on shareholders' money.
Concerns
  • ✗Over the last three years operations used more cash than they brought in, despite an operating profit — the business is not yet turning its profit into cash.

Statement tables · Standalone

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Standalone only

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricDec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales116 Cr86 Cr82 Cr117 Cr194 Cr137 Cr76 Cr145 Cr226 Cr189 Cr121 Cr
Operating expenses (approx.)104 Cr81 Cr68 Cr103 Cr172 Cr123 Cr63 Cr117 Cr197 Cr168 Cr103 Cr
EBITDA12 Cr5 Cr14 Cr14 Cr22 Cr15 Cr13 Cr28 Cr30 Cr21 Cr18 Cr
OPM %10.4%5.5%17.2%12.0%11.3%10.6%17.2%19.4%13.0%11.2%14.8%
Other income0.04 Cr0.28 Cr0.20 Cr0.15 Cr0.21 Cr0.08 Cr0.04 Cr0.13 Cr0.04 Cr0.26 Cr0.11 Cr
Interest3 Cr0.42 Cr2 Cr3 Cr3 Cr2 Cr3 Cr3 Cr5 Cr4 Cr4 Cr
Depreciation0.36 Cr0.34 Cr0.48 Cr0.76 Cr0.79 Cr0.82 Cr0.85 Cr0.86 Cr1 Cr1 Cr2 Cr
Profit before tax9 Cr4 Cr12 Cr11 Cr18 Cr11 Cr10 Cr25 Cr23 Cr16 Cr12 Cr
Tax %25.9%36.4%25.2%25.3%28.0%24.9%25.8%25.5%25.4%27.3%25.2%
Net profit7 Cr3 Cr9 Cr8 Cr13 Cr9 Cr7 Cr19 Cr17 Cr12 Cr9 Cr
EPS (₹)₹1.70₹0.67₹2.27₹2.02₹3.27₹2.14₹1.78₹4.64₹4.36₹2.92₹2.27

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales107 Cr252 Cr288 Cr327 Cr530 Cr636 CrSign in free for the trailing twelve months
Operating expenses (approx.)87 Cr225 Cr250 Cr289 Cr466 Cr545 CrSign in free for the trailing twelve months
EBITDA20 Cr27 Cr38 Cr38 Cr64 Cr92 CrSign in free for the trailing twelve months
OPM %19.1%10.6%13.1%11.8%12.1%14.4%Sign in free for the trailing twelve months
Other income0.72 Cr0.42 Cr2 Cr0.39 Cr0.60 Cr0.47 CrSign in free for the trailing twelve months
Interest6 Cr6 Cr8 Cr8 Cr10 Cr14 CrSign in free for the trailing twelve months
Depreciation2 Cr1 Cr1 Cr1 Cr3 Cr4 CrSign in free for the trailing twelve months
Profit before tax13 Cr20 Cr30 Cr30 Cr53 Cr74 CrSign in free for the trailing twelve months
Tax %27.1%26.6%25.0%27.2%26.1%25.9%Sign in free for the trailing twelve months
Net profit10 Cr14 Cr22 Cr22 Cr39 Cr55 CrSign in free for the trailing twelve months
EPS (₹)₹3.12₹4.80₹7.44₹5.39₹9.70₹13.70Sign in free for the trailing twelve months
Dividend payout %———0.0%0.0%0.0%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital4 Cr4 Cr30 Cr40 Cr40 Cr40 Cr
Reserves52 Cr66 Cr62 Cr167 Cr205 Cr260 Cr
Borrowings55 Cr60 Cr96 Cr69 Cr87 Cr141 Cr
Other liabilities13 Cr24 Cr19 Cr7 Cr20 Cr45 Cr
Total liabilities124 Cr154 Cr207 Cr284 Cr352 Cr486 Cr
Fixed assets (net)13 Cr12 Cr25 Cr26 Cr27 Cr61 Cr
CWIP—0.74 Cr0.89 Cr0 Cr3 Cr25 Cr
Investments0.13 Cr——0 Cr4 Cr0 Cr
Loans & advances———0.06 Cr0.12 Cr0.13 Cr
Inventories92 Cr119 Cr149 Cr224 Cr292 Cr336 Cr
Trade receivables10 Cr14 Cr22 Cr13 Cr17 Cr56 Cr
Cash & bank0.71 Cr0.05 Cr6 Cr13 Cr0.77 Cr1 Cr
Other assets8 Cr8 Cr4 Cr8 Cr8 Cr8 Cr
Total assets124 Cr154 Cr207 Cr284 Cr352 Cr486 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity-3 Cr0.87 Cr-11 Cr-48 Cr-15 Cr-7 Cr
Cash from investing1 Cr-0.65 Cr-11 Cr-4 Cr-5 Cr-33 Cr
Cash from financing2 Cr-0.88 Cr28 Cr59 Cr8 Cr41 Cr
Net cash flow0.06 Cr-0.66 Cr6 Cr7 Cr-12 Cr0.30 Cr
Free cash flow (OCF − Capex)—-0.06 Cr-25 Cr-52 Cr-20 Cr-40 Cr

Ratios

MetricMar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %17.8%19.9%20.2%13.6%18.7%20.0%
ROE %17.5%20.6%24.2%10.4%15.8%18.3%
Debtor days352028141232
Inventory days714301404757470469
Days payable34394010139
Cash conversion cycle714283391761470492
OCF / EBITDA %-12.9%3.3%-29.7%-125.3%-23.2%-8.0%
OCF / EBITDA % (3 years)——-15.3%-56.9%-52.9%-36.2%
Debt / equity0.990.851.040.330.350.47
Current ratio1.961.962.024.613.152.99
Net debt / EBITDA2.652.232.381.471.341.52