Tribhovandas Bhimji Zaveri Limited · NSE:TBZ
Tribhovandas Bhimji Zaveri — FY2023 Earnings Presentation
29 slides from Tribhovandas Bhimji Zaveri's earnings presentation, March 2023
Slide 1: Q4 & FY23 Results Investor Presentation
w w w . tb z th e o r i g i n a l . c o m Q4 & FY23 Results INVESTOR PRESENTATION
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by Tribhovandas 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 may consider and does not constitute or form any part of any offer, material. Th
Slide 3: Discussion Summary
04 Page Q4 & FY23 Results Update 14 Page About Us w w w . tb z th e o r i g i n a l . c o m 18 Page Business Model DISCUSSION 03 SUMMARY
Slide 4: Q4 & FY23 Results Update
04 w w w . tb z th e o r i g i n a l . c o m Q4 & FY23 RESULTS UPDATE
Slide 5: Q4 FY23 - Result Highlights
Q4 FY23 - Result Highlights (In ` Mn) Revenues & Gross Margin (%) EBITDA & EBITDA Margin (%) PAT & PAT Margin (%) 10.4% 14.2% 6.5% 2.4% 4,648 3.6% 4,315 0.6% 303 154 113 24 Q4 FY22 Q4 FY23 Q4 FY22 Q4 FY23 Q4 FY22 Q4 FY23 Revenue Gross Margin EBITDA EBITDA Margin PAT PAT Margin w w w . tb z th e o r
Slide 6: FY23 - Result Highlights
FY23 - Result Highlights (In ` Mn) EBITDA & EBITDA Margin (%) PAT & PAT Margin (%) Revenues & Gross Margin (%) 1.7% 0.9% 11.1% 3.9% 4.8% 10.7% 397 23,936 1150 18,438 171 724 FY22 FY23 FY22 FY23 EBITDA EBITDA Margin PAT PAT Margin FY22 FY23 Revenue Gross Margin w w w . tb z th e o r i g i n a l . c o
Slide 7: Q4 FY23 - Key Result Takeaways
Q4 FY23 - Key Result Takeaways Revenue & Margin: • Revenue in Q4 FY23 was up by 7.7% YoY, on account of higher footfalls and consistent conversion. • Gross margins also improved marginally and stood at 14.2% in Q4 FY23. • EBITDA stood at `303 mn during Q4 FY23, up from `154 mn in Q4 FY22. • Aggressi
Slide 8: Q4 & FY23 - Profit & Loss Statement
Q4 & FY23 - Profit & Loss Statement Particulars (In ` Mn) Q4FY23 Q4FY22 YoY% FY23 FY22 YoY % Net Revenues 4,648 4,315 7.71% 23,936 18,438 29.82% COGS 3,989 3,865 3.22% 21,271 16,466 29.18% Gross Profit 659 450 46.23% 2,665 1,973 35.10% Gross Margin (%) 14.17% 10.44% 3.73% 11.13% 10.70% 0.44% Personn
Slide 9: Q4 FY23 - Balance Sheet Statement
Q4 FY23 - Balance Sheet Statement Particulars (In ` Mn) March-23 Sept-22 March-22 Shareholders Funds 5,673 5,363 5,350 Loan Funds 4866 4936 5090 Lease Liability 888 800 789 Sources of Funds (Total) 11,552 11,210 11,336 Net Block (A) 1,567 1,484 1,490 Other Long -Term Assets (B) 266 334 297 w w w . t
Slide 10: New Store Launch in Kalyan
11 w w w . tb z th e o r i g i n a l . c o m in New Store Launch Kalyan
Slide 11: Marketing Initiatives During the Quarter
Marketing Initiatives During the Quarter • The True Challenge campaign was done in January, followed by significant digital outreach in Feb 2023. Gudi Padwa, Ugadi festivals were also marketed in March of Q4 FY23. • We increased the digital reach to target younger TG of 25-34 years old. Our social m
Slide 12: Marketing Initiatives During the Quarter contd.
Marketing Initiatives w w w . tb z th e o r i g i n a l . c o m During the Quarter contd. 13
Slide 13: About Us
14 w w w . tb z th e o r i g i n a l . c o m ABOUT US
Slide 14: Why is TBZ Different?
Why is TBZ Different? TBZ Trusted / Competitive / Advantages Leader in Specialty Pedigree 158+ years of Wedding & Design Scalability & Strong Occasion Exclusivity Reach w w w . tb z th e o r i g i n a l . c o m Brand Value Jewellry • 158+ years in jewellery • 8 - 10 new jewellery • 32 stores (1,00,0
Slide 15: Distinctive Competitive Advantage: Multigenerational Clientele
Distinctive Competitive Advantage: Multigenerational Clientele Generational Clientele Enhanced Brand Deepened Customer Strength: Awareness: Relationships: TBZ's multigenerational client base is a A multigenerational client base also Lastly, a multigenerational client base significant strength, foste
Slide 16: Key Milestones
Key Milestones Strong Legacy Of More Than 150 Years Built On Trust Diamond facility expansion - ~6k to Flagship store Introduced 100% ~24k sq ft Mr. Shrikant Zaveri opened in Zaveri First to offer First to launch light pre- hallmarked Turnover crossed took over the Implémentation of Bazaar, Mumbai b
Slide 17: Retail Presence
Retail Presence Pan-India presence with 32 Stores with a Retail Space of ~100,000+ sq. Ft. Number of Stores Till Date Spread across 25 Cities in 12 States Large Format (> 2,000 sq. ft.) 29 Small Format (<= 2,000 sq. ft.) 3 Noida Total Stores 32 Lucknow Total Area ( sq. ft) ~1,00,000+ Udaipur Patna G
Slide 18: Business Model
20 w w w . tb z th e o r i g i n a l . c o m BUSINESS MODEL
Slide 19: Business Model: Manufacturing
Business Model: Manufacturing Gold • Raw Material - Bullion Procurement Sources: • Banks – Gold on loan • Exchange & purchase of old jewellery • Bullion dealers w w w . tb z th e o r i g i n a l . c o m Manufacturing • Gold jewellery manufacturing is outsourced. • Vast nation-wide network of 150+ ve
Slide 20: Business Model: Manufacturing contd...
Business Model: Manufacturing contd… Diamond Procurement • Raw Material - Cut & polished diamonds Sources: • DTC site holders w w w . tb z th e o r i g i n a l . c o m Manufacturing • In-house diamond jewellery manufacturing leading to exclusive designs, lower costs, and higher margins • Manufacturi
Slide 21: Business Model: Retail
Business Model: Retail Efficient Inventory Management Small Stores • <= 2,000 sq ft • Across the city • Smaller range • Lower price points (up to `500k) Small Store Small Store w w w . tb z th e o r i g i n a l . c o m Large Stores Large Format • > 2,000 sq ft Store • Standalone high street - heart
Slide 22: Gold Metal Loan: Efficient Sourcing Channel
Gold Metal Loan: Efficient Sourcing Channel 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. • The contract for gold lease is 180 days. • The bank converts 1 kg of gold on
Slide 23: Securing Future Growth: Strategic Pillars
Securing Future Growth: Strategic Pillars 158+ years of Brand Value Leverage: TBZ Ltd boasts substantial brand value and a long-standing reputation for quality and craftsmanship. With over 158 years in business, the brand is recognized and trusted by multigenerational customers across India, providi
Slide 24: Steadfast market steeped in tradition and innovation
Steadfast market steeped in tradition and innovation 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 Research). Gold, symbolizing wealth and prosperity, is integral to Indian culture an
Slide 25: Harnessing Our Core Strengths to Drive Success
Harnessing Our Core Strengths to Drive Success Domestic Focus: Since TBZ primarily concentrates on the domestic jewellery market, it remains protected from the impact of international economic challenges. Consumer Trust: TBZ is an age-old established brand known for its innovative designs, the quali
Slide 26: Awards & Recognition
Awards & Recognition • BEST BRACELET DESIGN AWARD AT THE 9TH EDITION OF JJS-IJ Jewellers Choice Design Awards – 2019 • “CONTEMPORARY DIAMOND JEWELLERY AWARD” & “TREASURE OF THE OCEAN “ • GJC’S NATIONAL JEWELLERY AWARD 2018 • “DIAMOND VIVAH JEWELLERY OF THE YEAR” Retail Jeweller India Awards – 2018 •
Slide 27: CSR Initiatives – Project Pankhi
CSR Initiatives – Project Pankhi A Project initiated by TBZ to provide Counselling & Skill Development to women impacted by Domestic Violence. • Counsellors engaged in 15 different community settings in Mumbai, Vadodara, Ahmedabad, Pune, Kochi, Patna, Delhi and Hyderabad • 831 cases reported • 447 C
Slide 28: CSR Initiatives – Volunteering project with Pehlay Akshar Foundation
CSR Initiatives – Volunteering project with Pehlay Akshar Foundation at BMS school in Gilderlane, Mumbai Central Employees of TBZ enthusiastically contributing towards developing the ability of the children by sharing their knowledge, skills and quality time. On 22nd Dec’ 2022 we celebrated Christma
Slide 29: Thank You
w w w . tb z th e o r i g i n a l . c o m THANK Mukesh Sharma Shankhini Saha YOU CFO mukesh.sharma@tbzoriginal.com Associate Director tbz@dickensonworld.com
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