Tribhovandas Bhimji Zaveri Ltd (TBZ), a trusted jewellery brand since 1864, continues to demonstrate strong performance in India’s expanding jewellery market with steady growth, robust Q1FY26 results, and consistent dividend history.
Why Tribhovandas Bhimji Zaveri Is Gaining Investor Attention in FY26
Founded in 1864, Tribhovandas Bhimji Zaveri Ltd (TBZ) has built its reputation on heritage and trust. With a legacy exceeding 160 years, TBZ leads India’s premium jewellery space — particularly in wedding and occasion-based segments — with unmatched quality and a strong domestic focus. The company is strategically positioned to capture the surge in middle-class income and rising discretionary spending on gold and diamond jewellery across India.
How TBZ Is Diversifying and Expanding Its Portfolio TBZ maintains a diversified product portfolio that includes gold, diamond, and precious gemstone jewellery. Its multi-tier pricing strategy caters to different customer groups, helping mitigate demand fluctuations and ensuring a steady revenue stream. The company’s strong brand equity and consistent product innovation continue to strengthen its market position across key Indian cities.
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TBZ has a pan-India retail presence with 37 stores spread across 27 cities in 13 states and an approximate retail area of 100,000 sq. ft. This wide network provides geographical diversification and enhances brand recall. Approximately 65% of its total sales are generated from wedding and occasion-related jewellery, positioning TBZ as a leader in this niche segment.
For FY25, TBZ reported a profit after tax (PAT) of ₹68.39 crore and declared a 22.5% dividend, an improvement from 17.5% in FY24. The company has robust reserves of ₹590.48 crore, while promoters hold 74.12% of the equity. Institutional investors, including HNIs and NRIs, continue to maintain stable holdings — reflecting long-term confidence in TBZ’s consistent performance and dividend track record.
TBZ’s Q1FY26 results showed a sharp jump in profitability, with PAT rising to ₹22.50 crore compared to ₹9.49 crore in Q4FY25 — a growth of 137% QoQ. Revenues increased 4.66% YoY to ₹6,240.07 million, supported by occasion-led demand and store expansion. The EBITDA margin improved by 110 basis points to 8.24%, demonstrating strong cost controls and operational efficiency despite a competitive retail environment.
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TBZ’s ongoing strategic retail expansion includes new high-street showrooms in Ahmedabad and Hyderabad, part of a plan to enhance its national footprint and brand recall. Focused campaigns such as “Akshaya Tritiya” and “Temple Tales” have successfully boosted customer engagement and led to higher walk-ins. Reopened stores and targeted marketing through digital CRM further indicate TBZ’s proactive retail strategy for FY26.
Investor Takeaway: Indian-Share-Tips.com Nifty Expert Gulshan Khera, CFP®, who is also a SEBI Regd Investment Adviser, observes that TBZ’s strong fundamentals, consistent dividend payouts, and strategic retail expansion underline sustained growth potential in India’s luxury jewellery market. The stock, trading near ₹185, remains attractive for long-term investors given its favorable risk-reward ratio and improving margins.
Related Queries
What Makes Tribhovandas Bhimji Zaveri a Reliable Jewellery Brand?
How Did TBZ Achieve a 137% QoQ Profit Growth in Q1FY26?
Is TBZ’s Dividend Policy Sustainable for Long-Term Investors?
SEBI Disclaimer: The information provided in this post is for informational purposes only and should not be construed as investment advice. Readers must perform their own due diligence and consult a registered investment adviser before making any investment decisions. The views expressed are general in nature and may not suit individual investment objectives or financial situations.
