Tribhovandas Bhimji Zaveri Limited · NSE:TBZ
Tribhovandas Bhimji Zaveri — Q4 & FY26 Earnings Presentation
32 slides from Tribhovandas Bhimji Zaveri's earnings presentation, May 28, 2026
Slide 1: Cover letter to stock exchanges
28th May, 2026 To, To, The Manager, The Manager, Compliance Department, Corporate Service Department, National Stock Exchange of India Limited BSE Limited Exchange Plaza, Plot No. C/1, G Block, Phiroze Jeejeebhoy Towers, Bandra-Kurla Complex, Bandra (East), Dalal Street, Mumbai - 400 001 Mumbai - 40
Slide 2: Investor Presentation Q4 & FY26
The or~inol since 1864 TRIBHOVANDAS BHIMJI ZAVERi SI IRIK.\~T 1/.,\\ 'l•:HI GHOl 'P Trusted Since 1864 TRIBHOVA DAS BHI~I Z Y RI 111{]~\ l /..\\ EHi ROl P IN VES TOR PRES EN TATIO N w w w . t b z t h e or i g in a l.c o m Q4 & FY26
Slide 3: Disclaimer
Disclaimer tbz· IQral inc 1 '-"1 Th rnHOVAN DAS BHI MJ I ZAVERi This presentation has been prepared by Tribhovandas \IUU1..\.' I L\\UU(;JtOI I' This presentation may not be all inclusive and may not Bhimji Zaveri Limited (“TBZ”) for informational purposes only contain all of the information that you
Slide 4: Discussion Summary
tbz· IQral inc 1 '-"1 Th rnHOVAN DAS BHI MJ I ZAVERi \IUU1..\.' I L\\UU(;JtOI I' Q4 & FY26 Updates 04 Page 14 Page About Us w w w . t b z t h e or i g in a l.c o m 19 Page Business Model DIS CUSSIO N • 03 SU MM AR Y
Slide 5: Results Update Q4 & FY26
_ tbz· r IQral inc T'RIBHOVANOAS 8HIMJI ZAVERi 1 '-"1 \IUU1..\.' I L\\UU(;JtOI i' RESULTS UPDATE Q4 & FY26 w w w . t b z t h e or i g in a l.c o m Page • 04 04-13
Slide 6: Q4 FY26 Result Highlights
Q4 FY26 - Result Highlights (In ₹ Mln) tbz· r IQral inc 1 '-"1 Th rnHOVAN DAS BHI MJ I ZAVERi \IUU1..\.' I L\\UU(;JtOI I' Revenues & Gross Margin (%) EBITDA & EBITDA Margin (%) PAT & PAT Margin (%) 14.85% 18.93% 6.94% 13.45% 8.08% o------o 1.92% - - - - ---0 0---- 8,297 1,116 5,293 671 Q4 FY25 Q4 FY
Slide 7: FY26 Result Highlights
FY26 - Result Highlights (In ₹ Mln) tbz· r IQral inc 1 '-"1 Th rnHOVAN DAS BHI MJ I ZAVERi \IUU1..\.' I L\\UU(;JtOI I' Revenues & Gross Margin (%) EBITDA & EBITDA Margin (%) PAT & PAT Margin (%) 13.66% 17.47% 11.18% 6.26% 6.72% 2.76% o------o o------o o---------0 32,030 3,582 26,205 - 1,761 2,005 FY
Slide 8: Q4 & FY26 Key Takeaways
Q4 & FY26- Key Takeaways tbz" '1¥tc 1Qlf1 JI K'tl:·a 16611 ThlBHOVANDAS BH1M 1 1 ZAVERi '\Hklll.\'\! /_\\lklf;~Ol I' • The Company's revenue from operations increased by 56.74% YoY in Q4 FY26, reaching ₹8,296.95 million. For FY26, revenue stood at ₹32,029.53 million, reflecting 22.23% growth over th
Slide 9: Standalone Profit & Loss Statement
Q4 & FY26- Standalone Profit & Loss Statement tbz· IQral inc 1 '-"1 Th rnHOVAN DAS BHI MJ I ZAVERi \IUU1..\.' I L\\UU(;JtOI I' (In ₹ Mln) Particulars Q4FY26 Q4FY25 YoY% FY26 FY25 YoY% Revenue From Operation 8,296.95 5,293.44 56.74% 32,029.53 26,204.84 22.23% COGS 6,726.26 4,507.28 49.23% 26,434.93 2
Slide 10: Standalone Balance Sheet
FY26- Standalone Balance Sheet tbz· IQral inc 1 '-"1 Th rnHOVAN DAS BHI MJ I ZAVERi \IUU1..\.' I L\\UU(;JtOI I' (In ₹ Mln) Particulars Mar-26 Mar-25 Shareholder's Funds 8,467.04 6,676.70 Borrowings 7,857.00 6,999.91 Lease Liability 1,005.13 917.74 Provisions 311.32 195.65 Sources of Funds 17,640.49
Slide 11: Our newly opened stores in FY26
Our newly opened stores in FY26: Ahmedabad, Kondapur & Himayatnagar in Hyderabad tbz· r IQral inc 1 '-"1 Th rnHOVAN DAS BHI MJ I ZAVERi \IUU1..\.' I L\\UU(;JtOI I' CG Road, Ahmedabad Kondapur, Hyderabad Himayatnagar, Hyderabad w w w . t b z t h e or i g in a l.c o m • 10
Slide 12: Marketing Initiatives During Q4 & FY26
Marketing Initiatives During Q4 & FY26 Multi-Channel Marketing & New Product Stories Driving Growth TRIBHOVANDAS BHIMJJ ZAVERi Customer Traffic & CRM Outcomes • Delivered 46K+ customer walk-ins in Q4 FY26; approx.3 lakh+ walk-ins in FY 25-26 (Apr'25–Mar'26), supported by TRIBHOVANDAS BHIMJI ZAVERI a
Slide 13: Marketing Initiatives During the Quarter contd.
Marketing Initiatives During the Quarter contd. tnz· TI).,,,,-iglt"'Olsinc 116'1 T'R IBHOVAN DAS BH IMJ I ZAV ERi \l!Rlll.\'\l /\\IHlC.\lOI,\' w w w . t b z t h e or i g in a l.c o m • 12
Slide 14: Marketing Initiatives During the Quarter contd.
Marketing Initiatives During the Quarter contd. tnz· TI).,,,,-iglt"'Olsinc 116'1 T'R IBHOVAN DAS BH IMJ I ZAV ERi \l!Rlll.\'\l /\\IHlC.\lOI,\' w w w . t b z t h e or i g in a l.c o m • IOJIIVAIJ I OHATl(Of'"" ICMTAH(w) l ..,.,..,EDaM" I SANT~ l -nw.: IVASAI IVUHI I U.VPI IAZAII 13
Slide 15: About Us
A BOU T tbz· US r IQral inc 1 '-"1 Th rnHOVAN DAS BHI MJ I ZAVERi \IUU1..\.' I L\\UU(;JtOI I' w w w . t b z t h e or i g in a l.c o m . Page • 14 14-18
Slide 16: Why is TBZ Different?
Why is TBZ tbz· Different? IQral inc 1 '-"1 Th rnHOVAN DAS BHI MJ I ZAVERi \IUU1..\.' I L\\UU(;JtOI I' TBZ Trusted / Competitive Advantages Leader in Specialty Scalability & Pedigree Reach 0 161 years of Wedding & Design Strong Occasion Exclusivity • 37 stores (1,00,000+ ft.) w w w . t b z t h e or
Slide 17: Distinctive Competitive Advantage: Multigenerational Clientele
Distinctive Competitive Advantage: Multigenerational Clientele tbz· r IQral inc 1 '-"1 Th rnHOVAN DAS BHI MJ I ZAVERi \IUU1..\.' I L\\UU(;JtOI I' Generational Clientele Enhanced Brand Deepened Customer Strength: Awareness: Relationships: TBZ's multigenerational client base is a A multigenerational c
Slide 18: Key Milestones
Key Milestones tbz·r IQral inc 1 '-"1 Th rnHOVAN DAS BHI MJ I ZAVERi \IUU1..\.' I L\\UU(;JtOI I' Strong Legacy Of More Than 160 Years Built On Trust (Calendar Years) Diamond facility expansion - ~6k to ~24k sq ft Flagship store Listed on BSE & NSE opened in Zaveri First to offer First to launch ligh
Slide 19: Retail Presence
Retail t}jz· Presence f ong ral nca 186'1 T'RIBHOVANDAS 8HIMJI ZAVERi .',,IUIHL\.'L L\\Ull(;Jt()l,J• Number of Stores Till Date Pan-India presence with 37 Stores Large Format (> 2,000 sq. ft.) 33 with a Retail Space of ~100,000+ sq. Ft. Small Format (<= 2,000 sq. ft.) 4 Spread across 28 Cities in 13
Slide 20: Business Model
BUS IN ESS tbz· M ODE L r IQral inc 1 '-"1 Th rnHOVAN DAS BHI MJ I ZAVERi \IUU1..\.' I L\\UU(;JtOI I' w w w . t b z t h e or i g in a l.c o m • Page 19 19-30
Slide 21: Business Model: Manufacturing
Business Model: Manufacturing tbz· IQral inc 1 '-"1 Th rnHOVAN DAS BHI MJ I ZAVERi \IUU1..\.' I L\\UU(;JtOI I' Gold TRIBHOVANDAS BHIMJI ZAVERI Presenting • Raw Material - Bullion Procurement Sources: Do'nra --g.,-- DETACHABLE JEWELLERY • Banks – Gold on loan • Exchange & purchase of old jewellery •
Slide 22: Business Model: Manufacturing contd.
Business Model: Manufacturing contd. tbz· r IQral inc 1 '-"1 Th rnHOVAN DAS BHI MJ I ZAVERi \IUU1..\.' I L\\UU(;JtOI I' Diamond Trusted Since 1864 Procurement TRIBHOVANDAS BHIMJI ZAVERI • Raw Material - Cut & polished diamonds \ Presents Sources: Don~a I DETACHABLE JEWELLERY One Piece, Endless Looks
Slide 23: Gold Metal Loan: Efficient Sourcing Channel
Gold Metal Loan: Efficient Sourcing Channel tbz· IQral inc 1 '-"1 Th rnHOVAN DAS BHI MJ I ZAVERi \IUU1..\.' I L\\UU(;JtOI I' Gold Metal Loan Origination Gold Metal Loan Repayment • TBZ takes 10 kg gold from a bank on lease on day 0. • TBZ repays the gold daily based on actual sales of gold jewellery
Slide 24: Securing Future Growth: Our Strategic Pillars
Securing Future Growth: Our Strategic Pillars 160 years of Brand Value Leverage: Trusted Since TBZ Ltd boasts substantial brand value and a long-standing reputation for quality and craftsmanship. With over 160 years in 1864 business, the brand is recognized and trusted by multigenerational customers
Slide 25: Steadfast market steeped in tradition and innovation
Steadfast market steeped in tradition and innovation tbz· IQral inc 1 '-"1 Th rnHOVAN DAS BHI MJ I ZAVERi \IUU1..\.' I L\\UU(;JtOI I' GDP Contribution and Cultural Significance: The gems and jewellery market contributes approximately 7.5% to India’s GDP and 14% to total merchandise exports (IBEF Res
Slide 26: Harnessing Our Core Strengths to Drive Success
Harnessing Our Core Strengths to Drive Success tbz· r IQral inc 1 '-"1 Th rnHOVAN DAS BHI MJ I ZAVERi \IUU1..\.' I L\\UU(;JtOI I' .---------0 Domestic Focus: Since TBZ primarily concentrates on the domestic jewellery market, it remains protected from the impact of international economic challenges.
Slide 27: Awards & Recognition
Awards & Recognition: • Mr. Shrikant Zaveri, Chairman & Managing Director, was honoured with the "Visionary Leader of the Year" award at the Retail Jeweller MD & CEO _ tbz· r IQral inc T'RIBHOVANOAS BHIMJI ZAVERi 1 '-"1 \IUU1..\.' I L\\UU(;JtOI I' Awards 2026 (7 January 2026), in recognition of his
Slide 28: Awards & Recognition
Awards & Recognition • “Visionary Leader of the Year’ Award 2026 for Mr. Shrikant Zaveri Retail Jeweller MD & CEO Awards 2026 (7 January 2026) t}jz· f ong ral nca 186'1 T'RIBHOVANDAS 8HIMJI ZAVERi • “EXEMPELARY VALUE CREATION FOR SHAREHOLDERS 2025“ .',,IUIHL\.'L L\\Ull(;Jt()l,J• Retail Jeweller Indi
Slide 29: Project Pankhi
PROJECT PANKHI Project Pankhi is TBZ's flagship women empowerment initiative, supporting women and adolescent girls from marginalized communities through counselling, shelter, awareness-building and P\ Kl I I tbz" "he lf'll"'OI JC~ 166-1 T'RIBHOVANDAS BHlMJI ZAVERi \WUI.\VJ /.\\lltlUtnl I' community
Slide 30: Project Ek Disha
PROJECT EK DISHA Project Ek Disha is TBZ's inclusive education initiative, supporting children with disabilities and underserved students through specialised learning interventions, teacher training, parent capacity- building and community enablement. P\ 1 Kl I I tbz· "he O>'li f'OI nee 186,11 ThIBH
Slide 31: Other CSR Initiatives
OTHER CSR INITIATIVES P\ 1 Kl1I tbz· "he O>'li f'OI nee 186,11 ThIBHOVANDAS BHIMJI ZAVERi ,Hlllt..;\.VI l.\\ l,JU(;KOI I' Project Ek Disha is TBZ's inclusive education initiative, supporting children with disabilities and underserved students through specialized learning interventions, teacher train
Slide 32: Thank You
- cel864 The orig nal sin TRIBHOVAN?,A - s BHIMJI ZAVERi ,· z \\ ' t,:n1 GltOl"I' SI lltlf...\ ' ·· w w w . t b z t h e or i g in a l.c o m Trusted Since 1864 I tbz· r,:il ·1f"ICel864 't,90,,g -- BHIMJIZAVERI 11DICKENSON I T HA N K ThIBHOVAN'D 'A1 \\UU Gk.0 1 P SHIUh..>e Mukesh Sharma CFO Shankhini
Tribhovandas Bhimji Zaveri — Q4 & FY26 Earnings Presentation on 6ix