Tribhovandas Bhimji Zaveri Limited (TBZ) AI Stock Analysis

• Market Cap: ₹12.09B
• Dividend Yield: 1.24%
• Average Volume (3M): 19.16K
• Price to Earnings (P/E): 16.4
• Beta (1Y): 1.43
• Revenue Growth: 13.93%
• EPS Growth: 22.84%
• Country: IN
• Employees: 997
• Sector: Consumer Cyclical
• Sector Strength: 84
• Industry: Luxury Goods
• EPS (TTM): 3.37
• Shares Outstanding: 66,730,620
• 10 Day Avg. Volume: 20,060
• 30 Day Avg. Volume: 19,165
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: ₹197.00
• Price Target Upside: 8.72% Upside
• Rating Consensus: Hold
• Number of Analyst Covering: 0

• Rating: 63 Neutral
• Price Target: ₹197.00 ▲(8.72% Upside)

Tribhovandas Bhimji Zaveri Limited's overall stock score reflects strong financial performance with revenue growth and profitability improvements. However, technical indicators suggest a bearish trend, and cash flow challenges pose risks. Valuation is reasonable, providing some investor appeal.

Tribhovandas Bhimji Zaveri Limited Business Overview & Revenue Model

Company Description

Tribhovandas Bhimji Zaveri Limited designs, manufactures, retails, and sells jewelry primarily in India. Its products portfolio includes bangles, pendants, earrings, necklaces, bracelets, rings, and mangalsutras. The company provides products in a various styles, such as gold, diamond studded, precious and semi-precious stone studded, and plain and diamond studded platinum; Lightweight and contemporary jewelry; jewelry with colored stones studded in gold; loose diamonds; solitaires; loose precious and semi-precious stones; and jadau jewelry. As of March 31, 2022, it operated twenty-eight owned stores and three franchise stores in twenty-five cities and twelve states. Tribhovandas Bhimji Zaveri Limited was founded in 1864 and is based in Mumbai, India.

How the Company Makes Money

TBZ makes money primarily through the sale of jewelry products. Its revenue model is based on the retailing of gold, diamond, and other precious gemstone jewelry through its numerous retail outlets across India. Key revenue streams include direct sales to consumers in physical stores, custom jewelry design services, and potentially online sales platforms. The company may also benefit from strategic partnerships with fashion brands and designers, enhancing its product offerings and brand visibility. Additionally, TBZ's earnings are influenced by factors such as fluctuations in gold and diamond prices, consumer spending trends, and the cultural significance of jewelry in Indian society, particularly for weddings and festive occasions.

Tribhovandas Bhimji Zaveri Limited Financial Statement Overview

Summary

Tribhovandas Bhimji Zaveri Limited shows strong revenue growth and improving profitability margins, indicating solid operational performance. However, moderate leverage and cash flow challenges in 2025 pose risks, though historical performance suggests potential for recovery.

Income Statement

Tribhovandas Bhimji Zaveri Limited shows a strong revenue growth trajectory with a 14.20% increase in 2025 over 2024. Gross profit margin stands at a healthy 14.39% for 2025, indicating efficient cost management. The net profit margin improved to 2.60% in 2025, reflecting better profitability, although still modest. EBIT and EBITDA margins strengthened substantially, indicating improved operational efficiency.

Balance Sheet

The company's debt-to-equity ratio is 1.20, which suggests moderate leverage, posing some risk if revenue growth doesn't sustain. However, the return on equity (ROE) at 10.41% in 2025 indicates decent returns on investment. The equity ratio is 37.15%, demonstrating a balanced capital structure with room for potential growth.

Cash Flow

Tribhovandas Bhimji Zaveri had a challenging year in 2025 with negative operating and free cash flows, indicating cash flow management issues. The free cash flow to net income ratio is negative, highlighting a reliance on external financing. However, previous years showed positive cash flow generation, suggesting potential for recovery.

Breakdown	TTM	Dec 2025	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	26.22B	26.25B	22.99B	23.93B	18.44B	13.42B
Gross Profit	4.00B	3.78B	3.17B	3.01B	2.39B	2.36B
EBITDA	1.77B	1.77B	1.42B	1.19B	802.58M	1.30B
Net Income	683.88M	683.88M	544.27M	401.90M	201.82M	432.67M
Balance Sheet
Total Assets	17.69B	17.69B	14.59B	14.75B	14.57B	12.15B
Cash, Cash Equivalents and Short-Term Investments	982.13M	982.13M	496.69M	454.91M	452.73M	395.47M
Total Debt	7.92B	7.92B	6.14B	5.75B	5.88B	4.38B
Total Liabilities	11.12B	11.12B	8.57B	9.15B	9.29B	6.92B
Stockholders Equity	6.57B	6.57B	6.02B	5.60B	5.28B	5.23B
Cash Flow
Free Cash Flow	0.00	-388.13M	302.34M	854.40M	-672.83M	2.30B
Operating Cash Flow	0.00	-268.54M	396.89M	931.69M	-661.97M	2.31B
Investing Cash Flow	0.00	-450.42M	-65.75M	-66.11M	-20.92M	52.72M
Financing Cash Flow	0.00	849.44M	-291.86M	-867.24M	707.66M	-2.33B

Tribhovandas Bhimji Zaveri Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 181.20
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:TBZ, the sentiment is Negative. The current price of 181.2 is below the 20-day moving average (MA) of 187.12, below the 50-day MA of 189.42, and below the 200-day MA of 195.10, indicating a bearish trend. The MACD of -0.84 indicates Positive momentum. The RSI at 39.19 is Neutral, neither overbought nor oversold. The STOCH value of 6.31 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:TBZ.

Tribhovandas Bhimji Zaveri Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
SENCO	65 Neutral	₹55.44B	25.81	8.09%	0.30%	27.47%	-0.43%
TBZ	63 Neutral	₹12.09B	16.38	―	1.24%	13.93%	22.84%
PCJEWELLER	62 Neutral	₹80.09B	11.23	9.33%	―	173.56%	―
RAJESHEXPO	55 Neutral	₹54.08B	73.47	0.60%	―	93.58%	93.53%
THANGAMAYL	54 Neutral	₹62.71B	56.57	10.77%	0.62%	28.28%	-16.65%
Sector *	61 Neutral	$18.38B	12.79	-2.54%	3.03%	1.52%	-15.83%