Tribhovandas Bhimji Zaveri Limited (TBZ), a leading Indian jewellery retailer, has reported robust financial results for the first quarter, demonstrating steady growth and strategic expansion in the competitive jewellery market.

Financial Highlights

TBZ's revenue from operations increased by 4.66% year-over-year, reaching ₹6,240.07 crore. The company's gross margin improved significantly, rising by 176 basis points to 16.16%, reflecting a favorable product mix and procurement efficiencies. Gross profit saw a substantial increase of 17.42%, amounting to ₹1,008.43 crore.

The company's EBITDA (Earnings Before Interest, Taxes, Depreciation, and Amortization) showed impressive growth, rising by 20.69% year-over-year to ₹514.08 crore. The EBITDA margin also improved by 110 basis points, reaching 8.24%.

TBZ's Profit After Tax (PAT) increased by 13.41% year-over-year, reaching ₹209.44 crore, with the PAT margin improving by 27 basis points to 3.37%. The company reported an Earnings Per Share (EPS) of ₹3.14, up from ₹2.77 in the same quarter last year.

Strategic Expansion and Customer Engagement

During the quarter, TBZ continued its strategic retail network expansion by launching two new flagship high-street showrooms in Ahmedabad (C.G. Road) and Hyderabad (Kondapur). This expansion has increased the company's national footprint to 37 showrooms across 27 cities.

TBZ's customer engagement initiatives, driven by occasion-centric marketing campaigns such as Akshaya Tritiya and "Temple Tales," resulted in increased walk-ins and new customer acquisitions. The company also focused on reactivating lapsed customers through targeted CRM and outreach programs.

Marketing and Digital Initiatives

TBZ's digital presence saw significant growth, with Instagram followers increasing from 154,000 to 160,000. The company's engagement rate on the platform surged to 3.94% in June, compared to 0.17% in May. TBZ's digital campaigns garnered over 12 million video views and reached 7.7 million users, primarily driven by collaborations with regional influencers across India.

Focus on Retail Growth and Product Diversification

TBZ is strategically focusing on retail growth and expanding its product variety to capitalize on India's rising middle-class demographic. The company is leveraging its 160-year legacy as part of its strategy to maintain profitability while working to improve margins.

Outlook

With its strong financial performance, strategic expansion, and focus on customer engagement, TBZ appears well-positioned to capitalize on the growing Indian jewellery market. The company's efforts to expand its retail footprint and diversify its product offerings are likely to support its growth trajectory in the coming quarters.

As India's middle class continues to expand and disposable incomes rise, TBZ's strategic initiatives and strong brand legacy could help it capture a larger share of the market and drive long-term growth.

Tribhovandas Bhimji Zaveri Limited (TBZ), India's renowned jewellery retailer, has announced robust financial results for the first quarter, demonstrating solid growth and improved profitability.

Financial Highlights

TBZ reported a steady increase in revenue from operations, which rose to ₹6,240.07 crore, marking a 4.66% year-on-year growth from ₹5,962.43 crore. The company's profitability saw significant improvements:

• Gross Profit increased by 17.42% to ₹1,008.43 crore
• EBITDA grew by 20.69% to ₹514.08 crore
• Profit After Tax (PAT) rose by 13.41% to ₹209.44 crore

Margin Expansion

The company demonstrated strong margin expansion across key metrics:

Operational Highlights

TBZ's performance was bolstered by strategic initiatives:

• Launched two flagship stores in high-street locations in Ahmedabad (C.G. Road) and Hyderabad (Kondapur)
• Expanded retail network to 37 showrooms across 27 cities
• Implemented successful marketing campaigns, including Akshaya Tritiya and "Temple Tales"
• Focused on product innovation and design, particularly in temple-inspired jewellery

Management Commentary

Mr. Shrikant Zaveri, Chairman of TBZ, commented on the results: "Our Q1 performance is a testament to the strategic evolution of our retail footprint, designed to build enduring scale within India's high-income, high-growth urban corridors. The timely inauguration of our two marquee flagship showrooms reaffirms our brand's omnipresence and intent for sustainable, profitable expansion."

Ms. Binaisha Zaveri, Director, added: "Our Q1 initiatives reinforce our strategic imperative to continually elevate the TBZ brand experience and forge deeper, more authentic connections with our discerning clientele across India's most vibrant growth corridors."

Mr. Mukesh Sharma, Chief Financial Officer, stated: "Our Q1 performance reflects the execution of our strategic levers, showcasing our consistency in margin enhancement, cost management, and efficient store rollouts. This quarter, we demonstrated financial strength as our EBITDA margin expanded meaningfully by 110 basis points to 8.2%, and Profit After Tax (PAT) saw healthy double-digit growth of over 13.4% to ₹209.44 crore."

Future Outlook

TBZ's management expressed confidence in the company's growth trajectory, citing strong momentum across core and regional markets. The company plans to continue its expansion strategy, focusing on affluent urban micro-markets and maintaining its commitment to product innovation and customer engagement.

With its 160-year legacy and strategic initiatives, Tribhovandas Bhimji Zaveri Limited appears well-positioned to capitalize on the growing demand for premium jewellery in India's evolving retail landscape.