Tribhovandas Bhimji Zaveri Limited

Binaisha Zaveri

WHOLE-TIME DIRECTOR - TRIBHOVANDAS BHIMJI ZAVERI LIMITED

Mukesh Sharma

CHIEF FINANCIAL OFFICER – TRIBHOVANDAS BHIMJI ZAVERI LIMITED

rs,

ead, we remain committed to delivering superb craftmanship and differentiated value to our customers, while pushing the quality growth for us stakeholders. Since our inception in 1864, Tribhovandas

INR292.33 crore

e increase of 13.5 percentage in gross profit, compared to the same period last year. Reaching to INR292.33 crores with a gross margin of 12.46%. Similarly, in 9 months FY '24, our gross profit, first by 17.31%

12.46%

fit, compared to the same period last year. Reaching to INR292.33 crores with a gross margin of 12.46%. Similarly, in 9 months FY '24, our gross profit, first by 17.31% Y-o-Y to INR235.4

17.31%

3 crores with a gross margin of 12.46%. Similarly, in 9 months FY '24, our gross profit, first by 17.31% Y-o-Y to INR235.4 crores, with a gross margin of 2.13%. These f

INR235.4 crore

gross margin of 12.46%. Similarly, in 9 months FY '24, our gross profit, first by 17.31% Y-o-Y to INR235.4 crores, with a gross margin of 2.13%. These figures underscore our ability to transcend evolving market

2.13%

irst by 17.31% Y-o-Y to INR235.4 crores, with a gross margin of 2.13%. These figures underscore our ability to transcend evolving market dynamics and optimize our prod

6.1%

so reflected in our steadily improving EBITDA margins. In Q3 FY24, our EBITDA margins expanded to 6.1%, up by 77 basis points Y-o-Y, representing a notable increase compared to the previous year. Simi

77 basis point

in our steadily improving EBITDA margins. In Q3 FY24, our EBITDA margins expanded to 6.1%, up by 77 basis points Y-o-Y, representing a notable increase compared to the previous year. Similarly, for 9 months FY

5.98%

ncrease compared to the previous year. Similarly, for 9 months FY '24, our EBITDA margin stood at 5.98%, up by 158 basis points Y-o-Y. As we navigate through the remainder of the financial year, we mai

158 basis point

red to the previous year. Similarly, for 9 months FY '24, our EBITDA margin stood at 5.98%, up by 158 basis points Y-o-Y. As we navigate through the remainder of the financial year, we maintain commitment to m

3%

last year, quarter 3 gold diamond ratio was 80:20. And this year, quarter 3 has become 77:23. So 3% diamond share has increased. Rohit Suresh: Got it. Sir, my last question would be on the margin

6%

be on the margins part. So like last 3 or 4 quarters, our EBITDA margins have been raising in the 6% to 6.5% bracket. So for FY '25, FY '26, what kind of margin growth or any ballpark number you hav

“By when can we expect the other stores to open up?”

“So what will be the share for Q3 of the studded form?”

“In the studded jewellery, the diamonds what will be the share for diamonds in this quarter Q3?”

“So on setting up your own stores, what will be the target for FY '25?”

“And as I said, 2 stores will very soon you'll see in quarter 4, later part of the quarter 4 or the earlier part of Q1 next year.”

“And from FY '25, we will be able to see more focus on strategy.”

“So any kind of guidance for revenue for FY '25, we may have, any ballpark target like you might close this year around INR2,300 crores.”

“So can we what kind of target new stores coming up should we have for FY '25?”

“As we add new stores, obviously, the sales growth will be in a different percentage.”

“So there will be a slight impact on the gross margin side.”

Mukesh Sharma

23

Moderator

8

Utsav

6

Rohit Suresh

6

Darshil Jhaveri

4

Juhi KH

3

Bhushan Sonar

2

Binaisha Zaveri

1

Binaisha Zaveri

Ladies and gentlemen, esteemed shareholders and investors. A warm welcome to the earnings call for Q3 FY '24 and 9 months FY '24 for Tribhovandas Bhimji Zaveri Limited. In a hyper competitive marketplace, TBZ Limited has showcased resilience and adaptability, underlined by our steady rise in profitability during Q3 FY '24 and 9 months FY '24. Despite encountering revenue challenges, we have navigated through fluctuating gold prices and market uncertainties with strategic acumen. This resilience is evident in our financial performance with significant increases in key profitability metrics, with holding patterns on revenue. One of our operational highlights during Q3 was the inauguration of our new showroom in Vapi, GIDC. This is in line with our strategy to judiciously enhance our presence in strategic markets. Vapi's economic vibrancy and burgeoning consumer base makes a promising location for our premium jewelry offering. As we look ahead, we remain committed to delivering superb cra

Mukesh Sharma

Thank you Ms. Zaveri. Good afternoon, ladies and gentlemen. I am pleased to delve deeper into the financial highlights of quarter 3 FY '24 and 9 months FY '24. As well as our ongoing initiatives to drive operational excellence and sustain profitable growth. While facing down competitive challenges in the marketplace, our focus on operational efficiencies yielded promising results each quarter. Our gross profit margins have demonstrated steady improvement over the last few quarters, reflecting our commitment to enhancing profitability, while maintaining our appeal with customers through the highest standards of quality. In quarter 3, FY '24, we witnessed a commendable increase of 13.5 percentage in gross profit, compared to the same period last year. Reaching to INR292.33 crores with a gross margin of 12.46%. Similarly, in 9 months FY '24, our gross profit, first by 17.31% Y-o-Y to INR235.4 crores, with a gross margin of 2.13%. These figures underscore our ability to transcend evolving