Tribhovandas Bhimji Zaveri Limited
4,796words
25turns
0analyst exchanges
0executives
Key numbers — 40 extracted
rs,
13.69%
16.87%
6.39%
9.18%
2.33%
4.46%
3.25%
2.02%
2.42%
3.95%
1.80%
Guidance — 9 items
Retail Expansion Focus
opening
“Ltd is on track to deliver Financial Performance”
Steadfast Market Growth
opening
“The market was valued at $78.50 billion in 2021 and is expected to reach $119.80 billion by 2027, with a CAGR of 8.34%.”
E-commerce and Digital Platform Growth
opening
“w w w 23 >60% by 2047 $119.80 billion by 2027 8.34% Middle Class share of Population Indian Market for Jewellery Market Size CAGR (2021-27) Source: PRICE & Economic Times Harnessing Our Core Strengths to Drive Success”
Middle-Class Growth
opening
“w w w 26 PROJECT PANKHI Project Pankhi is TBZ’s flagship initiative focused on empowering women and adolescent girls from marginalised communities through mental health support, legal counselling, education, and awareness programmes.”
Middle-Class Growth
opening
“Key Impact Highlights for H1 FY26 (April–September 2025): • 500 counselling cases registered, addressing issues of gender-based violence, psychological trauma, and legal vulnerabilities.”
Middle-Class Growth
opening
“• Facilitated 56 awareness sessions for 2313 women and adolescents, focused on gender equality, basic rights, and career guidance.”
Middle-Class Growth
opening
“As a long-term, community-driven programme that integrates legal, emotional, and educational support systems to uplift women and girls, Project Pankhi continues to scale through trusted grassroots partners such as Stree Mukti Sanghatana, Urja Foundation, and Cultural Academy for Peace.”
Aligned with UN SDGs
opening
“w w w 27 PROJECT DISHA Project Disha is TBZ’s inclusive education initiative, focused on empowering children with disabilities and underserved students through specialised learning support, teacher training, parent capacity-building, and community-driven educational interventions.”
Aligned with UN SDGs
opening
“Key Impact Highlights for H1 FY26 (April–September 2025): Muskan Foundation – Support for Children with Multiple Disabilities • 2,254 specialised education sessions conducted for children with multiple disabilities, delivered through customised learning plans.”
Risks & concerns — 2 flagged
• No Commodity Risk: Since gold is taken on lease, there is loss if gold prices no gain if gold prices increase or decrease.
— Gold Metal Loan
Since TBZ primarily concentrates on the domestic jewellery market, it remains protected from the impact of international economic challenges.
— Domestic Focus
Speaking time
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Opening remarks
Strength
TBZ's multigenerational client base is a significant strength, fostering long-term customer relationships. Families purchasing jewellery from TBZ Ltd. for generations are more likely to continue doing so, resulting in a steady stream of repeat business for the Company. Enhanced Brand
Awareness
A multigenerational client base also Older bolsters positive generations their experiences family younger members, leading to word-of-mouth referrals and increased market visibility for the Company. share with awareness. brand Deepened Customer
Relationships
Lastly, a multigenerational client base enables TBZ Ltd to strengthen customer families' relationships. emotional their connections jewellery, the Company can establish a deeper bond with customers, increasing satisfaction and loyalty. Leveraging with m o c . l a n i g i r o e h t z b t . w w w 15 z z z z z z z z z z z Diversified Revenue Streams: A multigenerational client base allows TBZ Ltd to diversify its revenue streams. By catering to diverse customers with varying preferences and budgets, the Company can mitigate market fluctuations and maintain a stable revenue stream. Informed Product
Development
TBZ Ltd.’s multigenerational client base provides valuable feedback, offering insights into changing preferences and trends among different age groups. This information enables the Company to refine its product development and marketing strategies. Key Milestones Strong Legacy Of More Than 160 Years Built On Trust (Calendar Years) Flagship store opened in Zaveri Bazaar, Mumbai First to offer buyback guarantee First to launch light weight jewellery Mr. Shrikant Zaveri took over the business Introduced 100% pre- hallmarked jewellery Turnover crossed INR `5,000 mn in FY09 Diamond facility expansion - ~6k to ~24k sq ft Implementation of Oracle ERP Suite Listed on BSE & NSE with IPO of INR 2,000 mn 1864 1938 1995 2001 2004 2009 2011 2012 2025 2024 2022 2019 2017 2016 2015 2014 2013 Opened store in Kalyan on Oct-5th in 2022 Opened store in Lucknow in March- 19 New stores opened in Ahemdabad & Hyderabad (April- 25). New store opened in Vapi- GIDC ((Nov-23) and in Pink City- Jaipur (Jun-24) al
Sources
• Banks – Gold on loan • Exchange & purchase of old jewellery • Bullion dealers • Gold jewellery manufacturing is outsourced. • Vast nation-wide network of 150+ vendors • Each vendor has an annual gold processing capacity of more than 100 kg. • These vendors are associated with TBZ since generations and are experts in handmade regional jewellery designs. t n e m e u c o r P r g n i r u t c a f u n a M m o c . l a n i g i r o e h t z b t . w w w 19
Business Model
Manufacturing contd. Diamond t n e m e u c o r P r g n i r u t c a f u n a M m o c . l a n i g i r o e h t z b t . w w w 20 • Raw Material - Cut & polished diamonds