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