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Last Updated on: 24 February, 2024|Author: Getaka | Social: X Twitter Profile

Fundamental Analysis of Tribhovandas Bhimji Zaveri Ltd (TBZ)

About the Company - Tribhovandas Bhimji Zaveri Ltd (TBZ)

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
Diamond Cutting/Precious Metals/Jewellery241/43, Zaveri Bazar, Mumbai Maharashtra 400002investors@tbzoriginal.com
http://www.tbztheoriginal.com
Management
NamePosition Held
Mr. Shrikant ZaveriChairman & Managing Director
Mr. Raashi ZaveriWhole Time Director
Mr. Binaisha ZaveriWhole Time Director
Mr. Kamlesh VikamseyIndependent Director
Mr. Ajay MehtaIndependent Director
Ms. Sudha NavandarIndependent Director
Mr. Ramesh ChandakInd. Non-Executive Director

Tribhovandas Bhimji Zaveri Ltd. Share Price Update

Share PriceValue
Today₹124.05
Previous Day₹124.90

Basic Stock Data of Tribhovandas Bhimji Zaveri Ltd (TBZ)

Market Cap 828 Cr.
Current Price 124
High / Low145/58.2
Stock P/E15.5
Book Value 85.1
Dividend Yield1.41 %
ROCE9.30 %
ROE7.39 %
Face Value 10.0

Data Source: screener.in

Competitors of Tribhovandas Bhimji Zaveri Ltd (TBZ)

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Moksh Ornaments Ltd 114 Cr. 21.322.8/8.5516.8 10.10.00 %16.7 %12.8 % 2.00
Renaissance Global Ltd 1,303 Cr. 136146/80.018.0 1120.00 %9.02 %9.06 % 2.00
Silgo Retail Ltd 35.6 Cr. 34.743.0/14.211.8 31.20.00 %10.6 %7.95 % 10.0
Shubhlaxmi Jewel Art Ltd 70.8 Cr. 80.4117/34.247.2 24.30.00 %10.0 %5.98 % 10.0
PC Jeweller Ltd 2,516 Cr. 54.065.5/23.3 69.80.00 %5.33 %5.36 % 10.0
Industry Average44.68 Cr65.2818.7649.480%10.33%8.23%6.8

Tribhovandas Bhimji Zaveri Ltd (TBZ) Quarterly Results

MonthSep 2020Dec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023
Sales273.18623.28366.08193.67455.88762.80431.49579.89536.80812.18464.76570.82480.59
Expenses231.62554.79344.62195.03434.29723.59414.66561.48513.96768.04433.83538.42450.87
Operating Profit41.5668.4921.46-1.3621.5939.2116.8318.4122.8444.1430.9332.4029.72
OPM %15.21%10.99%5.86%-0.70%4.74%5.14%3.90%3.17%4.25%5.43%6.66%5.68%6.18%
Other Income2.422.123.381.872.391.472.052.341.030.820.781.001.10
Interest14.1810.877.788.048.489.649.4211.6110.1011.4211.6411.9212.53
Depreciation7.346.725.525.705.675.695.455.656.246.276.316.336.16
Profit before tax22.4653.0211.54-13.239.8325.354.013.497.5327.2713.7615.1512.13
Tax %35.35%24.48%18.80%26.00%25.13%24.93%10.22%29.80%27.22%24.64%14.75%25.02%25.64%
Net Profit14.5240.049.37-9.797.3619.023.602.445.4720.5511.7311.379.01
EPS in Rs2.186.001.40-1.471.102.850.540.370.823.081.761.701.35

Tribhovandas Bhimji Zaveri Ltd (TBZ) Quarterly Chart

Tribhovandas Bhimji Zaveri Ltd (TBZ) Profit & Loss

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales1,3851,6581,8241,9341,6551,6901,7511,7641,8101,3421,8442,3942,328
Expenses1,2611,5051,6851,8541,6121,6171,6721,6811,6901,2161,7622,2692,191
Operating Profit125153139804273798312012682124137
OPM %9%9%8%4%3%4%5%5%7%9%4%5%6%
Other Income145234364212854
Interest33255257615544536252415348
Depreciation681091099103227232425
Profit before tax871248338-261232232860265268
Tax %34%32%34%36%-7%-10%34%33%24%28%22%23%
Net Profit57845524-281321162143204053
EPS in Rs12.678.253.65-4.131.943.192.333.216.483.026.027.89
Dividend Payout %9%18%27%27%0%0%24%32%31%39%33%29%

Tribhovandas Bhimji Zaveri Ltd (TBZ) Profit & Loss Yearly Chart

YoY Net Profit Growth
Year2012-20132013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-2023
YoY Net Profit Growth (%)47.37%-34.52%-56.36%-216.67%146.43%61.54%-23.81%31.25%104.76%-53.49%100.00%
Change in YoY Net Profit Growth (%)0.00%-81.89%-21.84%-160.30%363.10%-84.89%-85.35%55.06%73.51%-158.25%153.49%

Tribhovandas Bhimji Zaveri Ltd (TBZ) Growth

Compounded Sales Growth
10 Years:4%
5 Years:6%
3 Years:10%
TTM:-4%
Compounded Profit Growth
10 Years:-7%
5 Years:14%
3 Years:21%
TTM:67%
Stock Price CAGR
10 Years:0%
5 Years:17%
3 Years:20%
1 Year:82%
Return on Equity
10 Years:5%
5 Years:6%
3 Years:7%
Last Year:7%

Tribhovandas Bhimji Zaveri Ltd (TBZ) Balance Sheet

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital50676767676767676767676767
Reserves110343381397369389410417414456461494501
Borrowings208419568588650549569606637438588575620
Other Liabilities216351301237210187174334350254341339252
Total Liabilities5831,1811,3161,2891,2961,1921,2191,4231,4681,2151,4571,4751,440
Fixed Assets519097108109103103111174140152159158
CWIP1225020000011
Investments0000000000000
Other Assets5321,0891,2181,1761,1871,0881,1161,3121,2941,0751,3051,3161,282
Total Assets5831,1811,3161,2891,2961,1921,2191,4231,4681,2151,4571,4751,440

Tribhovandas Bhimji Zaveri Ltd (TBZ) Reserves and Borrowings Chart

Tribhovandas Bhimji Zaveri Ltd (TBZ) Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity 38-303-3015141534232149231-6693
Cash from Investing Activity -6-62-5426-110-9-21-65-2-7
Cash from Financing Activity -3537286-47-2-155-27-16-147-23371-87
Net Cash Flow-281-71-26-4-432-0

Tribhovandas Bhimji Zaveri Ltd (TBZ) Financial Efficiency Indicators

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Debtor Days101000551100
Inventory Days162279270246292261265307293326276214
Days Payable284619242420245148464636
Cash Conversion Cycle135233252222269241246261246280230178
Working Capital Days78152165169204184185192180210180141
ROCE %35%25%15%8%3%6%7%7%8%11%6%9%

Tribhovandas Bhimji Zaveri Ltd (TBZ) Financial Efficiency Indicators Chart

Tribhovandas Bhimji Zaveri Ltd (TBZ) Share Holding Pattern

MonthMar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
Promoters74.12%74.12%74.12%74.12%74.12%74.12%74.12%74.12%74.12%74.12%74.12%74.12%
FIIs0.54%0.78%1.38%1.45%1.31%1.28%0.93%0.59%0.60%0.56%0.94%1.82%
DIIs0.00%0.00%0.01%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Public25.34%25.10%24.50%24.43%24.57%24.61%24.94%25.29%25.27%25.31%24.94%24.05%
No. of Shareholders33,53134,76133,43332,91034,27933,60132,12030,37829,62430,15229,29030,876

Tribhovandas Bhimji Zaveri Ltd (TBZ) Shareholding Pattern Chart

No. of Tribhovandas Bhimji Zaveri Ltd (TBZ) Shareholders

This stock is not held by any mutual fund

Tribhovandas Bhimji Zaveri Ltd (TBZ) ROCE Trend

Tribhovandas Bhimji Zaveri Ltd (TBZ) EPS Trend

Tribhovandas Bhimji Zaveri Ltd (TBZ) Key Financial Ratios

MonthMar 23Mar 22Mar 21Mar 20Mar 19
FaceValue10.0010.0010.0010.0010.00
Basic EPS (Rs.)6.023.026.483.212.33
Diluted EPS (Rs.)6.023.026.483.212.33
Cash EPS (Rs.)9.696.4010.478.043.86
Book Value[Excl.RevalReserv]/Share (Rs.)83.9879.0678.3672.0472.50
Book Value[Incl.RevalReserv]/Share (Rs.)83.9879.0678.3672.0472.50
Revenue From Operations / Share (Rs.)358.70276.31201.11271.25264.32
PBDIT / Share (Rs.)18.1812.5920.1117.4511.95
PBIT / Share (Rs.)14.519.2216.1212.6110.42
PBT / Share (Rs.)7.803.898.964.203.47
Net Profit / Share (Rs.)6.023.026.483.212.33
NP After MI And SOA / Share (Rs.)6.023.026.483.212.33
PBDIT Margin (%)5.064.559.996.434.51
PBIT Margin (%)4.043.338.014.653.94
PBT Margin (%)2.171.404.451.551.31
Net Profit Margin (%)1.671.093.221.180.88
NP After MI And SOA Margin (%)1.671.093.221.180.88
Return on Networth / Equity (%)7.173.828.274.453.21
Return on Capital Employeed (%)15.2010.3218.5215.3314.12
Return On Assets (%)2.721.383.561.451.09
Total Debt / Equity (X)0.860.960.671.141.25
Asset Turnover Ratio (%)1.631.380.991.251.33
Current Ratio (X)1.551.491.671.391.39
Quick Ratio (X)0.090.090.110.100.12
Inventory Turnover Ratio (X)1.131.180.771.151.31
Dividend Payout Ratio (NP) (%)16.6082.650.0054.530.00
Dividend Payout Ratio (CP) (%)10.3139.070.0021.760.00
Earning Retention Ratio (%)83.4017.350.0045.470.00
Cash Earning Retention Ratio (%)89.6960.930.0078.240.00
Interest Coverage Ratio (X)2.712.362.812.071.72
Interest Coverage Ratio (Post Tax) (X)1.901.571.911.381.34
Enterprise Value (Cr.)848.07917.42727.84642.33959.98
EV / Net Operating Revenue (X)0.350.490.540.350.54
EV / EBITDA (X)6.9910.925.425.5212.04
MarketCap / Net Operating Revenue (X)0.170.240.300.070.22
Retention Ratios (%)83.3917.340.0045.460.00
Price / BV (X)0.720.860.790.280.81
Price / Net Operating Revenue (X)0.170.240.300.070.22
EarningsYield0.090.040.100.150.03

Tribhovandas Bhimji Zaveri Ltd (TBZ) Profitability Ratios (%)

Tribhovandas Bhimji Zaveri Ltd (TBZ) Liquidity Ratios

Tribhovandas Bhimji Zaveri Ltd (TBZ) Liquidity Ratios (%)

Tribhovandas Bhimji Zaveri Ltd (TBZ) Interest Coverage Ratios (X)

Tribhovandas Bhimji Zaveri Ltd (TBZ) Valuation Ratios

Fair Value / Intrinsic Value of Tribhovandas Bhimji Zaveri Ltd (TBZ)

Fair Value: ₹98.85

The stock is overvalued by 20.28% compared to the current price ₹124

*Investments are subject to market risks

Strength and Weakness of Tribhovandas Bhimji Zaveri Ltd (TBZ)

StrengthWeakness
  1. The company has shown consistent growth in sales (1.15 cr) and profit (46.69 cr) over the years.
  1. The stock is trading at a high valuation with an average P/B ratio of 12.58 and average Dividend Yield of 4.79%.
  2. The stock has a low average ROCE of 11.67%, which may not be favorable.
  3. The stock has a high average Working Capital Days of 170.00, which may not be favorable.
  4. The stock has a high average Cash Conversion Cycle of 232.75, which may not be favorable.
  5. The company has higher borrowings (539.62) compared to reserves (395.54), which may suggest financial risk.

Should I Buy Tribhovandas Bhimji Zaveri Ltd (TBZ) Share Now?

  • Considering various financial indicators, investors might exercise caution regarding investment in Tribhovandas Bhimji Zaveri Ltd (TBZ):
    1. Net Profit Margin: 1.67%
      • 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: 15.20% (Industry Average ROCE: 9.68%)
      • 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. Interest Coverage Ratio (Post Tax): 1.90
      • 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.
    4. Quick Ratio: 0.09
      • 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.
    5. ✓ Stock P/E: 15.5 (Industry average Stock P/E: 165.46)
      • 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.
    6. ✓ Total Debt / Equity: 0.86
      • 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 suggests exercising caution. It's advisable to conduct further research or consult with financial experts before considering any investment.

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