Gems & Jewellery company Tribhovandas Bhimji Zaveri announced Q4FY25 & FY25 results Q4FY25 Financial Highlights: Revenue from Operations: Rs 5,293.43 million in Q4FY25, a 4.5 percent year-on-year increase; Gross Profit: Rs 786.16 million in Q4FY25, up 21 .8 percent YoY Gross Margin: Expanded 210 basis points YoY to 14.8 percent in Q4FY25; EBITDA: Rs 367.17 million in Q4FY25, up 18.2 percent YoY EBITDA Margin: Rose 80 bps YoY to 6.9 percent for the quarter Profit Before Tax (PBT): Rs 142.58 million for Q4FY25 (-5.7 percent YoY) owing to higher depreciation from recent store additions Profit After Tax (PAT): Rs 101 .81 million in Q4FY25 (-1 8.6 percent YoY) reflecting a normalised tax charge PAT Margin: 1.9 percent in Q4FY25 (-54 bps YoY) FY25 Financial Highlights: FY25 revenue rose 14.0 percent YoY to Rs 26,204.84 million, driven by festive demand, higher average ticket sizes and continued penetration of regional markets. FY25 gross profit increased 19.3 percent YoY to Rs 3,578.48 million, reflecting an enriched product mix and procurement efficiencies. full-year gross margin improved 61 bps to 13.7 percent. FY25 EBITDA grew 27.4 percent YoY to Rs 1,760.95 million, underpinned by operating leverage and disciplined cost management. EBITDA Margin: Rose 71 bps YoY to 6.7 percent for the year. FY25 PBT nevertheless rose to 40.1 percent YoY to Rs 997.11 million. FY25 PAT climbed 33.9 percent YoY to Rs 723.50 million. FY25 PAT margin improved 41 bps YoY to 2.8 percent. Earnings Per Share (EPS): Increased to Rs 10.84 in FY25 from Rs 8.10 in FY24, demonstrating enhanced shareholder value. Shrikant Zaveri, Chairman said "FY2025 underscored the strength of our steady and disciplined approach at TBZ. Our consistent focus on operational excellence and profitable growth is underpinned by a refined, design-led portfolio skewed towards higher-margin offerings, a robust and cost-efficient operating structure, and the enduring trust our brand commands across generations. As the formalisation of India's jewellery sector gathers pace, our strategy remains rooted in fundamentals: to grow steadily, compound shareholder value through measured expansion, convert scale into cash flows, and redeploy those gains into high-return initiatives that reinforce and extend the TBZ legacy." Binaisha Zaveri, Director said, "Celebrating 160 years of heritage is both an honour and a strategic advantage. As custodians of a legacy dating back to 1864, our responsibility is to make that legacy relevant and resonant for today's consumer. Over the past year, we expanded to 37 stores across 27 cities, including flagship formats in Hyderabad and Ahmedabad (Opened in Apr'25)-each reflecting the TBZ promise of fine craftsmanship, transparent pricing, and assured buy-back, while being customised to local preferences through data-driven merchandising. In a trust-led category, we recognise the enduring power of a legacy brand. Our roadmap is to capitalise on this foundation by marrying heritage with modern retail, expanding our reach through sharper go-to-market initiatives, and embedding customer centricity at the heart of every design and growth decision." Mukesh Sharma, Chief Financial Officer said, "TBZ's FY2025 performance reinforces that our margin expansion is structural and sustainable. Revenue for the year grew 14 percent, while EBITDA rose 27 percent-driving full-year EBITDA margins to 6.7 percent, with a Q4 exit margin of 6.9 percent. The 71-basis-point year-on-year improvement in EBITDA margin was achieved through a richer product mix, tighter inventory cycles, disciplined vendor management via scorecards, and centralised hedging-each of which remains a repeatable lever with further upside." Result PDF
Gems & Jewellery company Tribhovandas Bhimji Zaveri announced Q3FY25 results Revenue from Operations: Rs 9,278.50 million in Q3FY25, a 25.21% YoY increase from Rs 7,410 million in Q3FY24. Gross Profit: Increased 25.34% YoY in Q3FY25 to Rs 1,157.20 million. EBITDA: Recorded 33.88% YoY growth in Q3FY25 to Rs 605.30 million. Profit Before Tax (PBT): Achieved a 47.49% YoY increase in Q3FY25 to Rs 421.79 million. Profit After Tax (PAT): Grew 45.41% YoY in Q3FY25 to Rs 304.80 million. PAT Margin: Expanded by 46 bps YoY in Q3FY25 to 3.29%. Earnings Per Share (EPS): Increased to Rs 4.57 in Q3FY25 from Rs 3.14 in Q3FY24, demonstrating enhanced share.holder value. Srikant Zaveri, Chairman, TBZ, said: "Our Q3 & 9MFY25 performance highlights the resilience of TBZ's business model, driven by strong customer engagement, innovative product offerings, and prudent financial management. The significant 25.21% increase in revenue for Q3FY25 and 45.41% surge in PAT for 9MFY25 reflect the resilience of our brand and our ability to capitalize on evolving consumer demand. Our steadily expanding store network, organic sales growth at existing stores, strategic product mix, and innovative marketing initiatives continue to drive our success. As we move forward, a judicious combination of our franchise model and proprietary stores will remain key levers of sustainable growth, reinforcing our reputation as one of India's most trusted jewellery makers." Binaisha Zaveri, Director, TBZ, said: "Q3FY25 has been a defining quarter in terms of customer engagement with especially designed jewellery lines to resonate with this year's matrimonial season. The success of our festive campaigns, which contributed to record-breaking footfalls and increased customer social media engagement, has been pivotal in our Q3FY25 performance. The strategic investments in customer experience has further strengthened our brand allegiance. Going forward, we mean to further deepen our engagement through personalized offerings and increased accessibility via our store expansion." Mukesh Sharma, CFO, TBZ, said: "Over the last several quarters, we have maintained a strong focus on margin expansion - with a 69 bps improvement in EB/TOA margin over 9MFY24, while pursuing revenue growth responsibly. A key contributor to this success has been our ongoing focus on cost management and supply chain efficiencies, supported by efficient sourcing through the Gold Metal Loan framework, which minimizes commodity risks and reduces financing costs. This, combined with a favourable shift in product mix, has enhanced our financial efficiency, enabling us to adapt effectively to the evolving needs of our consumers." Result PDF
Gems & Jewellery company Tribhovandas Bhimji Zaveri announced H1FY25 & Q2FY25 results Revenue from Operations: Rs 5,670.47 million in Q2FY25, a 17.99% YoY increase from Rs 4,805.86 million in Q2FY24, and Rs 11,632.90 million in H1FY25, marking a 10.64% rise, demonstrating sustained sales growth and market penetration. Gross Profit: Increased by 21.39% YoY in Q2FY25 to Rs 776.28 million, and by 14.29% in H1FY25 to Rs 1,635.12 million, with gross margin expansion of 38 bps in Q2 and 45 bps in H1FY25, reflecting the impact of optimized pricing, selective discounting and better cost control. EBITDA: Grew 22.22% YoY in Q2FY25 to Rs 362.51 million and 27.41% in H1FY25, reaching Rs 788.47 million. The EBITDA margin improved by 22 bps in Q2 and 89 bps in H1, showcasing strengthened operational efficiency. Profit Before Tax (PBT): Achieved a 50.40% YoY growth in Q2FY25 to Rs 184.57 million, and 57.59% growth in H1FY25 to Rs 432.73 mittion, underscoring disciplined expense management and revenue gains. Profit After Tax (PAT): Grew by 44.40% in Q2FY25 to Rs 132.20 million, and by 54.15% in H1FY25 to Rs 316.88 million, with PAT margin expansion of 43 bps in Q2 and 77 bps in H1, reflecting protected bottom-line performance. Earnings Per Share (EPS): Increased to Rs 1.98 in Q2FY25 from Rs 1.37 in Q2FY24, demonstrating enhanced shareholder value. Srikant Zaveri, Chairman of TBZ, said: "Our results for Q2 and H1FY25 reflect TBZ's ongoing dedication to growth and operational discipline. The solid gains in profitability through steadily expanding margins are tangible outcomes of our focus on efficiency and our more profitable product segments. With the addition of new stores in Rourkela and Bhubaneshwar, taking our total to 36, we are well-positioned to further deepen our presence in Eastern India and cater to a broader market with our legacy of craftsmanship and quality." Binaisha Zaveri, Executive Director of TBZ, said: "Opening stores in Rourkela and Bhubaneshwar marks a significant step in our expansion strategy, capturing the essence of TBZ Ltd.'s dedication to growth that preserves our standards of craftsmanship and customer service," "These new stores are more than retail outlets; they are symbols of our 160 years' heritage in cities that value fine jewellery. This expansion enables us to connect with new communities and foster long-term relationships with patrons, bringing the TBZ experience closer to our customers in Eastern India. Going forward, we hope to further add to these store expansion numbers in H2 FY25, focusing on potential markets. Meanwhile, our ongoing push for organic growth from our existing stores across India continue unabated. This is being supported by strong brand stewardship, focus on higher diamond jewellery sales and innovative design introductions across all price points." Mr. Mukesh Sharma, CFO of TBZ, said: "The financial performance KPIs in Q2 and H1FY25 is proof of our continued commitment to margin growth and cost control, while chasing quality top-line. Our steady EBITDA and PAT growth also reflect disciplined financial management and a worthwhile focus on high-margin segments. As we expand our store count and focus on continued organic growth from existing stores, we are optimistic about sustaining this momentum in the upcoming quarters." Result PDF