TBZ

Tribhovandas Bhimji Zaveri Limited

Tribhovandas Bhimji Zaveri Limited (TBZ) financial statements and selected valuation metrics through 30 June 2026.

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

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

Price as of 2026-10-16

Stock price
₹759.15
Market cap
5,068 Cr
Stock P/E
23.7
P/B
6.04
Dividend yield
0.3%
ROE (FY26)
24.1%
ROCE (FY26)
20.9%
Operating margin (FY26)
10.4%
Debt / equity (FY26)
0.94
OCF / EBITDA (FY26)
8.2%
OCF / EBITDA (3Y)
6.3%

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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Compare with peers

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What you need to know

TBZ (Tribhovandas Bhimji Zaveri) sells gold and diamond jewellery to families through its own showrooms across India, and describes itself as a jewellery house dating back to 1864.

Company snapshot

13thBy market cap

Ranked among 39 companies in Gems, Jewellery And Watches.

What we see

Positives
  • ✓Return on equity of 24.1% — the company generates strong returns on shareholders' money.
Concerns
  • ✗Only 6% of operating profit came in as cash over the last three years — much of it is tied up in unpaid bills or stock.

Statement tables · Consolidated

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

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales481 Cr741 Cr507 Cr596 Cr567 Cr928 Cr529 Cr624 Cr688 Cr1,061 Cr830 Cr841 Cr
Operating expenses (approx.)451 Cr695 Cr475 Cr555 Cr532 Cr868 Cr493 Cr571 Cr624 Cr930 Cr717 Cr769 Cr
EBITDA30 Cr46 Cr31 Cr41 Cr35 Cr60 Cr36 Cr53 Cr64 Cr131 Cr112 Cr72 Cr
OPM %6.2%6.2%6.2%6.9%6.2%6.5%6.8%8.5%9.3%12.4%13.5%8.6%
Other income1 Cr2 Cr2 Cr1.00 Cr1 Cr0.82 Cr1 Cr2 Cr2 Cr2 Cr2 Cr2 Cr
Interest13 Cr12 Cr13 Cr13 Cr13 Cr13 Cr17 Cr18 Cr16 Cr19 Cr16 Cr19 Cr
Depreciation6 Cr6 Cr5 Cr6 Cr6 Cr6 Cr7 Cr7 Cr8 Cr6 Cr8 Cr9 Cr
Profit before tax12 Cr29 Cr15 Cr23 Cr17 Cr42 Cr14 Cr30 Cr42 Cr108 Cr90 Cr47 Cr
Tax %25.7%26.3%17.2%27.1%30.4%28.2%30.0%24.5%24.7%25.7%24.9%27.3%
Net profit9 Cr21 Cr13 Cr17 Cr12 Cr30 Cr9 Cr22 Cr32 Cr81 Cr68 Cr34 Cr
EPS (₹)₹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 (annual)

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

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales1,698 Cr1,756 Cr1,764 Cr1,810 Cr1,342 Cr1,844 Cr2,394 Cr2,299 Cr2,620 Cr3,203 CrSign in free for the trailing twelve months
Operating expenses (approx.)1,630 Cr1,681 Cr1,688 Cr1,698 Cr1,220 Cr1,768 Cr2,277 Cr2,160 Cr2,448 Cr2,842 CrSign in free for the trailing twelve months
EBITDA68 Cr75 Cr75 Cr112 Cr122 Cr76 Cr116 Cr139 Cr173 Cr361 CrSign in free for the trailing twelve months
OPM %4.0%4.2%4.3%6.2%9.1%4.1%4.9%6.1%6.6%11.3%Sign in free for the trailing twelve months
Other income3 Cr6 Cr4 Cr4 Cr12 Cr8 Cr5 Cr6 Cr4 Cr7 CrSign in free for the trailing twelve months
Interest50 Cr40 Cr46 Cr56 Cr48 Cr36 Cr45 Cr50 Cr56 Cr69 CrSign in free for the trailing twelve months
Depreciation9 Cr9 Cr10 Cr32 Cr27 Cr23 Cr24 Cr24 Cr25 Cr29 CrSign in free for the trailing twelve months
Profit before tax12 Cr32 Cr23 Cr28 Cr60 Cr26 Cr52 Cr72 Cr96 Cr270 CrSign in free for the trailing twelve months
Tax %-10.3%33.4%32.8%23.7%27.6%22.2%22.8%24.0%28.6%25.2%Sign in free for the trailing twelve months
Net profit13 Cr21 Cr16 Cr21 Cr43 Cr20 Cr40 Cr54 Cr68 Cr202 CrSign in free for the trailing twelve months
EPS (₹)₹1.94₹3.19₹2.33₹3.21₹6.48₹3.02₹6.02₹8.16₹10.25₹30.32Sign in free for the trailing twelve months
Dividend payout %————0.0%82.7%16.6%21.5%17.1%7.4%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 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital67 Cr67 Cr67 Cr67 Cr67 Cr67 Cr67 Cr67 Cr67 Cr67 Cr
Reserves389 Cr410 Cr417 Cr414 Cr456 Cr461 Cr494 Cr535 Cr590 Cr771 Cr
Borrowings549 Cr569 Cr605 Cr548 Cr352 Cr509 Cr487 Cr533 Cr700 Cr786 Cr
Other liabilities188 Cr174 Cr334 Cr439 Cr340 Cr420 Cr428 Cr324 Cr412 Cr478 Cr
Total liabilities1,192 Cr1,219 Cr1,423 Cr1,468 Cr1,215 Cr1,457 Cr1,475 Cr1,459 Cr1,769 Cr2,102 Cr
Fixed assets (net)102 Cr103 Cr108 Cr172 Cr138 Cr82 Cr81 Cr83 Cr86 Cr95 Cr
CWIP2 Cr—0 Cr0 Cr—0 Cr0.66 Cr0.07 Cr0.85 Cr0.05 Cr
Investments0.14 Cr0.03 Cr3 Cr0.01 Cr0.02 Cr69 Cr0.03 Cr0.05 Cr0.04 Cr0.05 Cr
Loans & advances——0.48 Cr4 Cr4 Cr0 Cr0 Cr0 Cr0 Cr0 Cr
Inventories1,027 Cr1,021 Cr1,179 Cr1,181 Cr984 Cr1,204 Cr1,223 Cr1,197 Cr1,461 Cr1,773 Cr
Trade receivables2 Cr23 Cr26 Cr3 Cr3 Cr2 Cr2 Cr16 Cr3 Cr3 Cr
Cash & bank5 Cr11 Cr7 Cr2 Cr6 Cr8 Cr8 Cr12 Cr25 Cr27 Cr
Other assets54 Cr61 Cr100 Cr106 Cr79 Cr92 Cr161 Cr150 Cr193 Cr204 Cr
Total assets1,192 Cr1,219 Cr1,423 Cr1,468 Cr1,215 Cr1,457 Cr1,475 Cr1,459 Cr1,769 Cr2,102 Cr

Cash flows

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

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity153 Cr41 Cr32 Cr149 Cr231 Cr-66 Cr93 Cr40 Cr-27 Cr30 Cr
Cash from investing0.42 Cr-8 Cr-21 Cr-6 Cr5 Cr-2 Cr-7 Cr-7 Cr-45 Cr-10 Cr
Cash from financing-155 Cr-27 Cr-16 Cr-147 Cr-233 Cr71 Cr-87 Cr-29 Cr85 Cr-17 Cr
Net cash flow-2 Cr6 Cr-4 Cr-4 Cr3 Cr2 Cr-0.17 Cr4 Cr13 Cr2 Cr
Free cash flow (OCF − Capex)145 Cr31 Cr17 Cr146 Cr230 Cr-67 Cr85 Cr30 Cr-39 Cr16 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %6.2%6.9%6.4%8.2%12.3%5.9%9.2%10.7%11.2%20.9%
ROE %2.8%4.5%3.2%4.5%8.3%3.8%7.2%9.0%10.4%24.1%
Debtor days0551100300
Inventory days375448299317426338325320314332
Days payable29375052615655293532
Cash conversion cycle347416255266366282270293280300
OCF / EBITDA %225.3%54.4%42.9%132.3%189.6%-86.8%80.1%28.5%-15.5%8.2%
OCF / EBITDA % (3 years)——103.7%84.5%133.1%101.0%82.1%20.1%24.7%6.3%
Debt / equity1.201.191.251.140.670.960.870.891.070.94
Current ratio1.461.481.391.381.671.491.551.661.551.65
Net debt / EBITDA8.01—7.934.862.846.574.123.743.902.10