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Tribhovandas Bhimji Zaveri Limited
(TBZ)
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Rating:69Neutral
Price Target:
₹201.00
▲(22.49% Upside)
Action:Reiterated
Date:06/13/26
The score balances strong technical trend and attractive valuation against the most significant risk: weak and worsening cash flow (negative OCF/FCF) alongside increasing leverage, despite solid revenue growth and improved FY2026 profitability.
Positive Factors
Multi-year Revenue Growth
Sustained top-line expansion to 32.0B over several years indicates durable consumer demand and successful market penetration. Persistent revenue growth supports scale advantages, supplier negotiating power and the potential to invest in stores and product development, strengthening long-term competitiveness.
Negative Factors
Weak Cash Generation
Consecutive negative OCF and FCF indicate profits are not converting to cash, a durable concern for an inventory-heavy retailer. Persistent cash shortfalls constrain the company's ability to fund working capital, capex and dividends internally and increase reliance on external financing.
Read all positive and negative factors
Positive Factors
Negative Factors
Multi-year Revenue Growth
Sustained top-line expansion to 32.0B over several years indicates durable consumer demand and successful market penetration. Persistent revenue growth supports scale advantages, supplier negotiating power and the potential to invest in stores and product development, strengthening long-term competitiveness.
Read all positive factors
Tribhovandas Bhimji Zaveri Limited (TBZ) vs. iShares MSCI India ETF (INDA)
Market Cap
₹13.03B
Dividend Yield1.38%
Average Volume (3M)15.61K
Price to Earnings (P/E)6.4
Beta (1Y)1.60
Revenue Growth22.23%
EPS Growth195.85%
CountryIN
Employees997
SectorConsumer Cyclical
Sector Strength84
IndustryLuxury Goods
Share Statistics
EPS (TTM)14.00
Shares Outstanding66,730,620
10 Day Avg. Volume19,401
30 Day Avg. Volume15,608
Financial Highlights & Ratios
PEG Ratio0.02
Price to Book (P/B)0.89
Price to Sales (P/S)0.23
P/FCF Ratio-15.74
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Tribhovandas Bhimji Zaveri Limited Business Overview & Revenue Model
Company Description
Tribhovandas Bhimji Zaveri Limited (TBZ) is an Indian jewelry firm engaged in the comprehensive process of designing, manufacturing, retailing, and selling a diverse range of ornaments, with its primary operations centered in India. The company's ...
How the Company Makes Money
TBZ primarily makes money by selling jewellery to end customers under its TBZ retail brand. Its core revenue stream is the retail sale of gold jewellery and diamond-studded jewellery, where revenue is driven by (a) the value of precious metal cont...
Tribhovandas Bhimji Zaveri Limited Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
58
Neutral
Cash Flow
34
Negative
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 27.70B | 32.03B | 26.25B | 22.99B | 23.93B | 18.44B |
| Gross Profit | 4.59B | 4.51B | 3.78B | 3.17B | 3.01B | 2.39B |
| EBITDA | 2.19B | 3.61B | 1.77B | 1.42B | 1.19B | 802.58M |
| Net Income | 933.98M | 2.02B | 683.88M | 544.27M | 401.90M | 201.82M |
Balance Sheet | ||||||
| Total Assets | 20.40B | 21.02B | 17.69B | 14.59B | 14.75B | 14.57B |
| Cash, Cash Equivalents and Short-Term Investments | 955.30M | 1.02B | 982.13M | 496.69M | 454.91M | 452.73M |
| Total Debt | 8.22B | 8.86B | 7.92B | 6.14B | 5.75B | 5.88B |
| Total Liabilities | 13.44B | 12.64B | 11.12B | 8.57B | 9.15B | 9.29B |
| Stockholders Equity | 6.96B | 8.38B | 6.57B | 6.02B | 5.60B | 5.28B |
Cash Flow | ||||||
| Free Cash Flow | 194.38M | -472.69M | -388.13M | 302.34M | 854.40M | -672.83M |
| Operating Cash Flow | 275.97M | -331.48M | -268.54M | 396.89M | 931.69M | -661.97M |
| Investing Cash Flow | -166.37M | -153.10M | -450.42M | -65.75M | -66.11M | -20.92M |
| Financing Cash Flow | -284.50M | 506.45M | 849.44M | -291.86M | -867.24M | 707.66M |
Tribhovandas Bhimji Zaveri Limited Technical Analysis
Positive
164.10
Price Trends
157.61
Positive
150.57
Positive
164.06
Positive
Market Momentum
10.64
Positive
61.93
Neutral
49.08
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:TBZ, the sentiment is Positive. The current price of 164.1 is below the 20-day moving average (MA) of 179.96, above the 50-day MA of 157.61, and above the 200-day MA of 164.06, indicating a bullish trend. The MACD of 10.64 indicates Positive momentum. The RSI at 61.93 is Neutral, neither overbought nor oversold. The STOCH value of 49.08 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:TBZ.
Tribhovandas Bhimji Zaveri Limited Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
69 Neutral | ₹13.03B | 6.44 | ― | 1.38% | 22.23% | 195.85% | |
63 Neutral | ₹54.17B | 9.41 | ― | 0.31% | 32.04% | 249.98% | |
61 Neutral | $18.38B | 12.79 | -2.54% | 3.03% | 1.52% | -15.83% | |
61 Neutral | ₹73.31B | 8.67 | ― | ― | 49.38% | -13.65% | |
60 Neutral | ₹399.67B | 29.56 | ― | 0.32% | 42.58% | 88.76% | |
60 Neutral | ₹3.91T | 76.87 | ― | 0.28% | 44.87% | 52.05% | |
54 Neutral | ₹72.86B | 17.76 | ― | ― | 39.59% | 83.30% |
* Consumer Cyclical Sector Average
IN:TBZ
Tribhovandas Bhimji Zaveri Limited
195.30
8.91
4.78%
IN:KALYANKJIL
Kalyan Jewellers India Ltd.
387.00
-196.69
-33.70%
IN:PCJEWELLER
PC Jeweller Ltd.
8.76
-5.08
-36.71%
IN:PNGJL
P N Gadgil Jewellers Limited
536.85
-68.30
-11.29%
IN:SENCO
Senco Gold Limited
330.60
-5.39
-1.61%
IN:TITAN
Titan Company Limited
4,405.30
709.02
19.18%
Tribhovandas Bhimji Zaveri Limited Corporate Events
TBZ Closes Trading Window Ahead of FY 2026 Results
Mar 27, 2026
Tribhovandas Bhimji Zaveri Limited has announced that its trading window for dealing in the company’s securities will be closed for designated and connected persons, as well as their immediate relatives, starting 1 April 2026. The closure wi...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.