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Last Updated on: 25 November, 2024
Author: Getaka|Social: Getaka Financial Services X (Earlier Twitter) Profile Getaka Financial Services LinkedIn Logo

Tribhovandas Bhimji Zaveri Ltd (TBZ): Intrinsic Value and Fundamental Analysis

Share Price and Basic Stock Data

Last Updated: November 22, 2024, 9:22 pm

Market Cap 1,508 Cr.
Current Price 226
High / Low360/93.0
Stock P/E23.9
Book Value 92.6
Dividend Yield0.77 %
ROCE10.9 %
ROE9.33 %
Face Value 10.0
PEG Ratio3.51

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Tribhovandas Bhimji Zaveri Ltd (TBZ)

Competitors of Tribhovandas Bhimji Zaveri Ltd (TBZ)

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Tribhovandas Bhimji Zaveri Ltd (TBZ) 1,508 Cr. 226360/93.023.9 92.60.77 %10.9 %9.33 % 10.0
Moksh Ornaments Ltd 95.0 Cr. 17.729.4/13.512.6 11.50.00 %14.9 %11.6 % 2.00
Lypsa Gems & Jewellery Ltd 20.3 Cr. 6.9012.6/4.64 10.80.00 %60.6 %68.4 % 10.0
Kanani Industries Ltd 51.4 Cr. 2.607.55/2.50198 3.210.00 %1.80 %0.98 % 1.00
Titan Company Ltd 2,93,742 Cr. 3,3093,887/3,05690.6 1100.33 %22.7 %32.9 % 1.00
Industry Average99,574.67 Cr849.7073.3862.850.18%23.00%25.45%5.67

All Competitor Stocks of Tribhovandas Bhimji Zaveri Ltd (TBZ)

Quarterly Result

MonthJun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024
Sales194456763431580537812465571481741507596
Expenses195434724415561514768434538451695475555
Operating Profit-1223917182344313230463141
OPM %-1%5%5%4%3%4%5%7%6%6%6%6%7%
Other Income2212211111221
Interest88109121011121213121313
Depreciation6665666666656
Profit before tax-13102543827141512291523
Tax %-26%25%25%10%30%27%25%15%25%26%26%17%27%
Net Profit-107194252112119211317
EPS in Rs-1.471.102.850.540.370.823.081.761.701.353.211.892.56

Last Updated: Unknown

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: Unknown

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024TTM
Sales1,6581,8241,9341,6551,6901,7511,7641,8101,3421,8442,3942,2992,324
Expenses1,5051,6851,8541,6121,6171,6721,6811,6901,2161,7622,2692,1532,176
Operating Profit153139804273798312012682124146148
OPM %9%8%4%3%4%5%5%7%9%4%5%6%6%
Other Income452343642128566
Interest25525761554453625241535751
Depreciation8109109910322723242424
Profit before tax1248338-26123223286026527280
Tax %32%34%36%7%-10%34%33%24%28%22%23%24%
Net Profit845524-28132116214320405460
EPS in Rs12.678.253.65-4.131.943.192.333.216.483.026.028.169.01
Dividend Payout %18%27%27%-0%-0%24%32%31%39%33%29%21%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-2024
YoY Net Profit Growth (%)-34.52%-56.36%-216.67%146.43%61.54%-23.81%31.25%104.76%-53.49%100.00%35.00%
Change in YoY Net Profit Growth (%)0.00%-21.84%-160.30%363.10%-84.89%-85.35%55.06%73.51%-158.25%153.49%-65.00%

Tribhovandas Bhimji Zaveri Ltd (TBZ) has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2013-2014 to 2023-2024.

Growth

Compounded Sales Growth
10 Years:2%
5 Years:5%
3 Years:20%
TTM:4%
Compounded Profit Growth
10 Years:0%
5 Years:28%
3 Years:8%
TTM:20%
Stock Price CAGR
10 Years:4%
5 Years:42%
3 Years:42%
1 Year:84%
Return on Equity
10 Years:4%
5 Years:7%
3 Years:7%
Last Year:9%

Last Updated: Unknown

Balance Sheet

Last Updated: November 14, 2024, 6:40 pm

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Sep 2024
Equity Capital67676767676767676767676767
Reserves343381397369389410417414456461494535551
Borrowings419568588650549569606637438588575614664
Other Liabilities351301237210187174334350254341339243433
Total Liabilities1,1811,3161,2891,2961,1921,2191,4231,4681,2151,4571,4751,4591,716
Fixed Assets9097108109103103111174140152159151154
CWIP2250200000101
Investments0000000000000
Other Assets1,0891,2181,1761,1871,0881,1161,3121,2941,0751,3051,3161,3081,561
Total Assets1,1811,3161,2891,2961,1921,2191,4231,4681,2151,4571,4751,4591,716

Reserves and Borrowings Chart

Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Cash from Operating Activity +-303-3015141534232149231-669340
Cash from Investing Activity +-62-5426-110-9-21-65-2-7-7
Cash from Financing Activity +37286-47-2-155-27-16-147-23371-87-29
Net Cash Flow81-71-26-4-432-04

Free Cash Flow

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Free Cash Flow-266.00-429.00-508.00-608.00-476.00-490.00-523.00-517.00-312.00-506.00-451.00-468.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024
Debtor Days010005511003
Inventory Days279270246292261265307293326276214223
Days Payable461924242024514846463620
Cash Conversion Cycle233252222269241246261246280230178205
Working Capital Days152165169204184185192180210180141160
ROCE %25%15%8%3%6%7%7%8%11%6%9%11%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthDec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024
Promoters74.12%74.12%74.12%74.12%74.12%74.12%74.12%74.12%74.12%74.12%74.12%74.12%
FIIs1.45%1.31%1.28%0.93%0.59%0.60%0.56%0.94%1.82%1.02%0.76%0.92%
DIIs0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.12%
Public24.43%24.57%24.61%24.94%25.29%25.27%25.31%24.94%24.05%24.87%25.12%24.85%
No. of Shareholders32,91034,27933,60132,12030,37829,62430,15229,29030,87631,11131,36949,524

Shareholding Pattern Chart

No. of Shareholders

This stock is not held by any mutual fund

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 24Mar 23Mar 22Mar 21Mar 20
FaceValue10.0010.0010.0010.0010.00
Basic EPS (Rs.)8.166.023.026.483.21
Diluted EPS (Rs.)8.166.023.026.483.21
Cash EPS (Rs.)11.719.696.4010.478.04
Book Value[Excl.RevalReserv]/Share (Rs.)90.1483.9879.0678.3672.04
Book Value[Incl.RevalReserv]/Share (Rs.)90.1483.9879.0678.3672.04
Revenue From Operations / Share (Rs.)344.51358.70276.31201.11271.25
PBDIT / Share (Rs.)21.7418.1812.5920.1117.45
PBIT / Share (Rs.)18.1914.519.2216.1212.61
PBT / Share (Rs.)10.737.803.898.964.20
Net Profit / Share (Rs.)8.166.023.026.483.21
NP After MI And SOA / Share (Rs.)8.166.023.026.483.21
PBDIT Margin (%)6.315.064.559.996.43
PBIT Margin (%)5.284.043.338.014.65
PBT Margin (%)3.112.171.404.451.55
Net Profit Margin (%)2.361.671.093.221.18
NP After MI And SOA Margin (%)2.361.671.093.221.18
Return on Networth / Equity (%)9.047.173.828.274.45
Return on Capital Employeed (%)17.8315.2010.3218.5215.33
Return On Assets (%)3.732.721.383.561.45
Total Debt / Equity (X)0.880.860.960.671.14
Asset Turnover Ratio (%)1.571.631.380.991.25
Current Ratio (X)1.661.551.491.671.39
Quick Ratio (X)0.110.090.090.110.10
Inventory Turnover Ratio (X)1.131.131.180.771.15
Dividend Payout Ratio (NP) (%)21.4516.6082.650.0054.53
Dividend Payout Ratio (CP) (%)14.9410.3139.070.0021.76
Earning Retention Ratio (%)78.5583.4017.350.0045.47
Cash Earning Retention Ratio (%)85.0689.6960.930.0078.24
Interest Coverage Ratio (X)2.912.712.362.812.07
Interest Coverage Ratio (Post Tax) (X)2.091.901.571.911.38
Enterprise Value (Cr.)1179.27848.07917.42727.84642.33
EV / Net Operating Revenue (X)0.510.350.490.540.35
EV / EBITDA (X)8.136.9910.925.425.52
MarketCap / Net Operating Revenue (X)0.300.170.240.300.07
Retention Ratios (%)78.5483.3917.340.0045.46
Price / BV (X)1.160.720.860.790.28
Price / Net Operating Revenue (X)0.300.170.240.300.07
EarningsYield0.070.090.040.100.15

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

Fair Value

Fair Value of Tribhovandas Bhimji Zaveri Ltd (TBZ) as of November 25, 2024 is: 208.08

Calculation basis:

  • Fair value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

As of November 25, 2024, Tribhovandas Bhimji Zaveri Ltd (TBZ) is Overvalued by 7.93% compared to the current share price 226.00

Intrinsic Value of Tribhovandas Bhimji Zaveri Ltd (TBZ) as of November 25, 2024 is: 222.26

Calculation basis:

  • Intrinsic value = P/E Ratio * (Return on Equity / 100) * Book Value * (1 + Dividend Yield / 100) * (1 + EPS CAGR for Last 5 Years)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance.
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.
  • EPS CAGR (Compound Annual Growth Rate): Represents the geometric mean growth rate of earnings per share over the last 5 years. It provides insight into the historical growth trajectory of the company's earnings.

This formula allows us to gauge the intrinsic value of the stock by analyzing its fundamental indicators along with EPS growth.

As of November 25, 2024, Tribhovandas Bhimji Zaveri Ltd (TBZ) is Overvalued by 1.65% compared to the current share price 226.00

Last 5 Year EPS CAGR: 6.81%

*Investments are subject to market risks

Strength and Weakness

StrengthWeakness
  1. The company has shown consistent growth in sales (1.23 cr) and profit (46.46 cr) over the years.
  1. The stock has a low average ROCE of 9.67%, which may not be favorable.
  2. The stock has a high average Working Capital Days of 176.83, which may not be favorable.
  3. The stock has a high average Cash Conversion Cycle of 238.58, which may not be favorable.
  4. The company has higher borrowings (574.23) compared to reserves (432.08), which may suggest financial risk.

Stock Analysis

  • Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in Tribhovandas Bhimji Zaveri Ltd (TBZ):
    1. Net Profit Margin: 2.36%
      • Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
    2. ROCE: 17.83% (Industry Average ROCE: 23%)
      • ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
    3. ROE%: 9.04% (Industry Average ROE: 25.45%)
      • ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
    4. Interest Coverage Ratio (Post Tax): 2.09
      • Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
    5. Quick Ratio: 0.11
      • Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
    6. Stock P/E: 23.9 (Industry average Stock P/E: 73.38)
      • Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
    7. Total Debt / Equity: 0.88
      • Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
    The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
    Stock Rating:

About the Company - Qualitative Analysis

Tribhovandas Bhimji Zaveri Ltd. is a Public Limited Listed company incorporated on 24/07/2007 and has its registered office in the State of Maharashtra, India. Company’s Corporate Identification Number(CIN) is L27205MH2007PLC172598 and registration number is 172598. Currently Company is involved in the business activities of Retail sale of jewellery and immitation jewellery. Company’s Total Operating Revenue is Rs. 1843.84 Cr. and Equity Capital is Rs. 66.73 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Gems, Jewellery & Precious Metals241/43, Zaveri Bazar, Mumbai Maharashtra 400002investors@tbzoriginal.com
http://www.tbztheoriginal.com
Management
NamePosition Held
Mr. Shrikant ZaveriChairman & Managing Director
Ms. Raashi ZaveriWhole Time Director
Ms. Binaisha ZaveriWhole Time Director
Mrs. Sudha NavandarIndependent Director
Mr. Ramesh ChandakIndependent Director
Ms. Preeti SadaranganiInd. Non-Executive Director

FAQ

What is the latest intrinsic value of Tribhovandas Bhimji Zaveri Ltd (TBZ)?

The latest intrinsic value of Tribhovandas Bhimji Zaveri Ltd (TBZ) as on 24 November 2024 is ₹208.08, which is 7.93% lower than the current market price of ₹226.00.

What is the Market Cap of Tribhovandas Bhimji Zaveri Ltd (TBZ)?

The Market Cap of Tribhovandas Bhimji Zaveri Ltd (TBZ) is 1,508 Cr..

What is the current Stock Price of Tribhovandas Bhimji Zaveri Ltd (TBZ) as on 24 November 2024?

The current stock price of Tribhovandas Bhimji Zaveri Ltd (TBZ) as on 24 November 2024 is 226.

What is the High / Low of Tribhovandas Bhimji Zaveri Ltd (TBZ) stocks in FY 2024?

In FY 2024, the High / Low of Tribhovandas Bhimji Zaveri Ltd (TBZ) stocks is 360/93.0.

What is the Stock P/E of Tribhovandas Bhimji Zaveri Ltd (TBZ)?

The Stock P/E of Tribhovandas Bhimji Zaveri Ltd (TBZ) is 23.9.

What is the Book Value of Tribhovandas Bhimji Zaveri Ltd (TBZ)?

The Book Value of Tribhovandas Bhimji Zaveri Ltd (TBZ) is 92.6.

What is the Dividend Yield of Tribhovandas Bhimji Zaveri Ltd (TBZ)?

The Dividend Yield of Tribhovandas Bhimji Zaveri Ltd (TBZ) is 0.77 %.

What is the ROCE of Tribhovandas Bhimji Zaveri Ltd (TBZ)?

The ROCE of Tribhovandas Bhimji Zaveri Ltd (TBZ) is 10.9 %.

What is the ROE of Tribhovandas Bhimji Zaveri Ltd (TBZ)?

The ROE of Tribhovandas Bhimji Zaveri Ltd (TBZ) is 9.33 %.

What is the Face Value of Tribhovandas Bhimji Zaveri Ltd (TBZ)?

The Face Value of Tribhovandas Bhimji Zaveri Ltd (TBZ) is 10.0.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Tribhovandas Bhimji Zaveri Ltd (TBZ). Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE