TBZ- The Original

CORPORATE

Tribhovandas Bhimji Zaveri Ltd. posts Total Income of Rs. 51,894 lakhs and PAT of Rs. 1,908 lakhs in Q3FY14

                                                                                                                                               

Tribhovandas Bhimji Zaveri (“TBZ- The Original”) Limited, a well known and trusted jewellery retailer in India, has posted a growth of 60.4% in income in Q3 FY14 over Q2 FY14 and a decline of 10.1% over the same period last year. The overall income in the third quarter, October to December 2013, was Rs. 51,894 lakhs, as compared to Rs. 32,361 lakhs for Q2 FY14 and income of Rs. 57,708 lakhs during Q3 FY13.

The EBITDA for third quarter of the current fiscal stood at Rs. 4,363 lakhs compared to Rs. 1,665 lakhs for Q2 FY14 and Rs. 4,359 lakhs for the third quarter of FY13. The EBITDA margin for Q3 FY14 was 8.41% of total income, even though the industry continued to face several challenges in the third quarter. TBZ’s Net Profit stood at Rs. 1,908 lakhs for the quarter ended  December 31, 2013. The Earning per Share (not annualized) was Rs. 2.86 for Q3 FY14.

Commenting on the financial performance of the Company in the reporting quarter, Mr. Shrikant Zaveri, Chairman and Managing Director, Tribhovandas Bhimji Zaveri Ltd., said, “The performance was impacted due to tough market conditions as demand shrinkages followed by uncertainty of availability of gold due to high import duty. Despite slowdown, we are hopeful to stimulate consumer demand during the year through innovative strategies to counter the adverse business environment”. “Further, the wedding segment is expected to show improved performance in FY14, driven by higher number of wedding days (74 days compared to 49 days in FY13), and higher number of auspicious days which will last till end of June 2014 - the highest in the last decade. The launch of new collections and designs would further drive volumes and margin expansion", Mr. Zaveri further said.

The company recently organized a series of exhibitions in 6 towns showcasing its refreshingly unique ‘New Age Brides’ wedding collection that complements every wardrobe. The Bridal Collection consisting of alluring sets in gold and diamonds represents wedding specialist TBZ’s 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.

About Tribhovandas Bhimji Zaveri Limited

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. Another prestigious win for TBZ-The Original came when it bagged 2 awards under the marketing excellence category along with being awarded as the 'Best Branded Traditional Jewellery of the Year 2012' Award from the Bombay Bullion Association at the 9th India International Gold Convention Hyderabad. This year, Mr. Shrikant Zaveri, Chairman & MD, TBZ Ltd., received the coveted prestigious MACCIA Award 2013 for Excellence in Entrepreneurship – Large Enterprise in Gems & Jewellery category award at a glittering function organized by the Maharashtra Chamber of Commerce, Industry & Agriculture (MACCIA). TBZ Ltd. has 27 stores in 21 cities across 8 States including Maharashtra, Gujarat, Madhya Pradesh, Chhattisgarh, Kerala, Andhra Pradesh, Rajasthan and West Bengal.