📌 At a Glance:
Tribhovandas Bhimji Zaveri (TBZ) reported FY25 standalone revenue of ₹2,625 crore and net profit of ₹72.35 crore — a solid improvement from last year’s ₹2,305 crore revenue and ₹54 crore profit. Oh, and they’re giving ₹2.25 dividend per share, so even investors get some gold dust.
🧾 Quick Financial Recap
| Metric | FY25 | FY24 | Change |
|---|---|---|---|
| Revenue | ₹2,625 Cr | ₹2,305 Cr | 🔼 +13.9% |
| Net Profit | ₹72.35 Cr | ₹54.01 Cr | 🔼 +33.9% |
| EBITDA (Est.) | ₹177.9 Cr | ₹139.8 Cr | 🔼 +27.2% |
| EPS | ₹10.84 | ₹8.10 | 🔼 +33.8% |
| Dividend | ₹2.25/share | ₹0.00 (last yr) | 😍 First in years! |
🧵 Let’s Unwrap the TBZ Story:
💎 1. From Zaveri Bazaar to Zomato’s Radar?
No, they aren’t listing on Swiggy yet — but their delivery of earnings is as fast as express shipping.
- Total income grew ~14% YoY, hitting ₹2,625 Cr.
- They turned in a clean audit — no red flags, no shady inventory jumps, no “gold turned to dust” entries.
- Profit grew a healthy 34%, thanks to better cost control and stable inventory.
📦 2. Inventory Ka Jadoo
- TBZ’s FY25 inventory stood at ₹1,463 crore, up from ₹1,197 crore last year.
- That’s like hoarding enough jewellery to shoot Brahmastra 2 entirely in gold.
But hey — they are in the jewellery biz, so hoarding isn’t just allowed, it’s encouraged.
🧮 3. Balance Sheet: Sparkly but Grounded
| Component | FY25 | FY24 |
|---|---|---|
| Equity Capital | ₹66.7 Cr | ₹60.8 Cr |
| Total Assets | ₹1,778 Cr | ₹1,465 Cr |
| Borrowings (Current) | ₹698 Cr | ₹532 Cr |
- Debt went up slightly, but they’re servicing it like a Tata son-in-law — with dignity and punctuality.
- Cash & equivalents more than doubled: ₹24.5 Cr → ₹49.8 Cr
🧑⚖️ 4. Auditor’s Verdict: “Unmodified Opinion”
Chaturvedi & Shah LLP gave TBZ the clean chit. No “qualified” or “disclaimer” junk here.
- ✔️ No irregularities.
- ✔️ Ethical independence confirmed.
- ✔️ Balance sheet passed the vibe check.
💵 5. Dividend & Investor Treats
- ₹2.25 per share = 22.5% payout on ₹10 face value.
- This is subject to approval at the upcoming AGM, but we all know no one says no to money.
🔮 Forward-Looking Fair Value
Let’s do some quick back-of-napkin math:
- EPS (TTM): ₹10.84
- P/E (industry avg for midcap jewellers): ~20×
- Fair Value Estimate = ₹216.8/share
With CMP around ₹198 (as of May 23, 2025), TBZ might have 9-10% upside left unless gold prices nosedive or Titan pulls a Bollywood villain move.
🪙 EduInvesting Take:
TBZ’s FY25 results prove one thing:
If diamonds are forever, TBZ is at least good for this financial year.
📈 Good growth, ✅ clean audit, 💸 dividend back, and 🧠 no flashy acquisitions. Exactly how a legacy brand should play it.
Buy for the bling. Hold for the balance sheet.
And remember: not every shiny stock is a scam — some are just TBZ.
Tags: TBZ Results FY25, Tribhovandas Bhimji Zaveri Earnings, Jewellery Stock India, Q4 FY25, TBZ Dividend, EduInvesting, Midcap Stocks India, TBZ Share Price
