Tribhovandas Bhimji Zaveri Ltd

CORPORATE/RESULT

Tribhovandas Bhimji Zaveri Ltd

FY2013 Results

PAT rises 48.62% to Rs. 85.00 cr

Total Income up 19.69% to Rs. 1,658.34 cr

Tribhovandas Bhimji Zaveri Limited, TBZ – The Original, India’s well-known and trusted jewellery retailer with a rich legacy of around 150 years, continued on its growth and expansion plans in FY13.  The Company posted a net profit of Rs. 85.00 crore for FY 2013, up 48.62% as compared to its net profit in FY12. TBZ has posted total income (standalone) of Rs. 1,658.34 crore, for the year ended March 31, 2013, up 19.69% as compared to that in the year ended March 31, 2012.

After considering the excellent performance of the Company, the Board of Directors have recommended a dividend of 22.50%.

The Company posted a net profit of Rs. 24.99 crore for Q4 FY 2013, up 231.22% as compared to its net profit in Q4 FY12. TBZ has posted total income (standalone) of Rs. 447.33 crore, for the quarter ended March 31, 2013, up 66.85% as compared to that in the quarter ended March 31, 2012.

The Company achieved an impressive top line and bottom line growth year-on-year despite tough economic conditions and volatile gold prices. TBZ Ltd. opened 11 stores during the fiscal.

Mr. Shrikant Zaveri, Chairman and Managing Director, TBZ Ltd., said, “The objective of the IPO was to expand in newer markets and we have fulfilled our first year commitments by opening 11 new stores in this year. I am happy to inform you that inspite of adverse market conditions, we have done well.”

The EBITDA for Q4 stood at Rs. 44.92 crore and the EBITDA margin for Q4 was 10.04% of total income even though the industry faced several challenges in the fourth quarter of FY13. The Earning Per Share (EPS) on a larger capital base for the fiscal was impressive at Rs. 13.02. TBZ improved net profit margin at 5.59% for the quarter and 5.13% for the fiscal on account of a strong sales growth, an optimal sales mix of gold and diamond wherein diamond jewellery sales enhanced the margins.  

In FY 13, TBZ-The Original has opened 11 stores in cities of Mumbai, Vadodara, Kolkata, Vapi, Bhavnagar, Vasai, Nagpur, Aurangabad, Raipur and Vashi. At present, TBZ has 26 showrooms in 20 cities across 7 States including Maharashtra, Gujarat, Madhya Pradesh, Kerala, Andhra Pradesh, Chhattisgarh and West Bengal. However, all the new stores added during the fiscal started contributing to the topline but were yet to reach maturity in sales in their respective cities.

In FY13 too, TBZ-The Original demonstrated unmatched prowess in innovative jewellery design, a hallmark that has made this more than a century-old company an institution in the realm of jewellery. TBZ’s Dohra Detachable Jewellery new collection was an industry benchmark for innovation for all seasons. Rounding up TBZ-The Original’s exciting various offers during FY13 were the signature collections such as the Temple Jewellery Collection, Surprises Collection, Necklace Collection and the Showstoppers Collection!

About Tribhovandas Bhimji Zaveri Limited (www.tbztheoriginal.com)

TBZ Ltd (BSE: 534369 | NSE: TBZ) has a 150-year old track-record of trust, quality and purity of its products, TBZ has won several prestigious awards including the Readers Digest Trusted Brand Asia in the category of Jewellery Shop in 2006, 2007 and 2008. TBZ has received other awards for both products and customer service, including the DTC Best Showroom award in 2004 and 2006, the DTC Best Diamond Moments award in 2005 for customer interactions, the DTC Best Showroom and Sales Person award in 2006 and 2007, the Jaipur Jewellery Show Gold Souk Awards 2007, which honoured TBZ’s contribution to the gem and jewellery industry in India, and the Jamnalal Bajaj Uchit Vyavahar Puraskar 2007 – Council for Fair Business Practices Award.