The company’s profit after tax grew from Rs 39.67 crore in FY23 to Rs 54.02 crore in FY25
Bengaluru: 160-year-old Indian jewellery retailer Tribhovandas Bhimji Zaveri Ltd. (TBZ Ltd.), has reported a 36.16% year-over-year (YoY) increase in profit after tax (PAT) in the fiscal year (FY) 2024, growing from Rs 39.67 crore in FY23 to Rs 54.02 crore.
The company recorded a 38.14% YoY increase in profit before tax (PBT), rising from Rs 51.53 crore in FY23 to Rs 71.18 crore in FY24.
“This quarter, even though we faced headwinds from increased gold prices and election-related slowdowns, our strategic initiatives have allowed us to maintain a steady course. We have focused on optimising our supply chain and enhancing customer engagement through effective targeted marketing campaigns,” said Srikant Zaveri, chairman of TBZ.
“Looking ahead, we are getting leaner and meaner – and therefore more optimistic about FY25. We will remain focused on expanding our footprint domestically, while maintaining our commitment to our uniqueness, quality and excellence,” he added.
TBZ’s earnings before interest, taxes, depreciation and amortisation (EBITDA) grew from Rs 114.97 crore in FY23 to Rs 138.17 crore in FY24 with 20.18% YoY increase.
The company’s PBT margin improved by 94 basis points, increasing from 2.15% in FY23 to 3.10% in FY24, while PAT margin increased by 69 basis points from 1.66% in FY23 to 2.35% in FY24.
“Our improved profitability margins are a testament to our rigorous cost control measures and operational efficiencies. These efforts have not only improved our bottom line but also enhanced our ability to respond swiftly to market changes,” said Mukesh Sharma, chief finance officer of TBZ.
Recently, the company announced the continuation of Sara Ali Khan as its brand ambassador for the next two years. The brand’s digital and social media initiatives achieved a total reach of 1.35 million, 900k impressions, and 27k engagements.
TBZ began its journey in 1864, as a one-store family-owned business, with its flagship store in Mumbai. Currently, it is spearheaded by the fifth generation, operating 33 stores in 25 cities.
