Tribhovandas Bhimji Zaveri Limited · NSE:TBZ
Tribhovandas Bhimji Zaveri — H1 FY26 Earnings Presentation
30 slides from Tribhovandas Bhimji Zaveri's earnings presentation, Nov 17, 2025
Slide 1: Exchange filing cover letter
17th November, 2025 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, Bandra- Phiroze Jeejeebhoy Towers, Kurla Complex, Bandra (East), Mumbai - 400 Dalal Street, Mumbai -
Slide 2: Q2 & H1 FY26 Investor Presentation
w w w . t b z t h e or i g i n a l.c o m Q2 & H1 FY26 IN VES TOR PRES EN TATIO N
Slide 3: 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 4: Discussion Summary
Q2 & H1 FY26 Updates 04 Page 13 Page About Us w w w . t b z t h e or i g i n a l.c o m 18 Page Business Model DIS CUSSIO N 03 SU MM AR Y
Slide 5: Results Update
04 w w w . t b z t h e or i g i n a l.c o m Q2 & H1 FY26 RESULTS UPDATE
Slide 6: Q2 FY26 - Result Highlights
Q2 FY26 - Result Highlights (₹ In Mn) Revenues & Gross Margin (%) EBITDA & EBITDA Margin (%) PAT & PAT Margin (%) 4.46% 13.69% 16.87% 6.39% 9.18% 2.33% 6,878 5,670 631 307 363 132 Q2 FY25 Q2 FY26 Q2 FY25 Q2 FY26 Q2 FY25 Q2 FY26 Revenue Gross Margin EBITDA EBITDA Margin PAT PAT Margin w w w . t b z t
Slide 7: H1 FY26 - Result Highlights
H1 FY26 - Result Highlights (₹ In Mn) Revenues & Gross Margin (%) EBITDA & EBITDA Margin (%) PAT & PAT Margin (%) 3.94% 14.06% 16.53% 6.78% 8.73% 2.72% 13,118 11,633 1,145 788 516 317 H1 FY25 H1 FY26 H1 FY25 H1 FY26 H1 FY25 H1 FY26 Revenue Gross Margin EBITDA EBITDA Margin PAT PAT Margin w w w . t b
Slide 8: Q2 & H1 FY26 - Key Takeaways
Q2 & H1 FY26- Key Takeaways • The Company’s revenue from operations increased by 21.30% YoY in Q2 FY26, reaching ₹6,878.28 million. For H1 FY26, revenue stood at ₹13,118.35 million, reflecting a 12.77% growth compared to the same period last year. • Gross profit improved significantly by 49.50% YoY
Slide 9: Q2 & H1FY26 - Standalone Profit & Loss Statement
Q2 & H1FY26- Standalone Profit & Loss Statement (₹ In Mn) Particulars Q2FY26 Q2FY25 YoY% H1FY26 H1FY25 YoY% Revenue From Operation 6,878.28 5,670.47 21.30% 13,118.35 11,632.90 12.77% COGS 5,717.75 4,894.19 16.83% 10,949.39 9,997.78 9.52% Gross Profit 1,160.53 776.28 49.50% 2,168.96 1,635.12 32.65% G
Slide 10: Our newly opened stores in H1FY26: Ahmedabad & Hyderabad
Our newly opened stores in H1FY26: Ahmedabad & Hyderabad (opened in April 2025) CG Road, Ahmedabad Kondapur, Hyderabad w w w . t b z t h e or i g i n a l.c o m 09
Slide 11: Marketing Initiatives During Q2FY26
Marketing Initiatives During Q2FY26 Multi-Channel Marketing, New Product Stories, and Store Expansion Driving Growth Customer Engagement • Customer Engagement • 57,000+ walk-ins were recorded in Q2 FY26, sustaining strong footfall momentum through a transitional, pre-festive quarter. • The customer
Slide 12: Marketing Initiatives During the Quarter contd.
Marketing Initiatives During the Quarter contd. Digital Momentum • Strong digital traction with Instagram followers rising from 161K → 163K, adding nearly 2,000 followers. • Engagement peaked in September, crossing 900,000+ interactions, driven by festive content, influencer activity, and Sara Ali K
Slide 13: Marketing Initiatives During the Quarter contd.
Marketing Initiatives During the Quarter contd. w w w . t b z t h e or i g i n a l.c o m 12
Slide 14: About Us
13 w w w . t b z t h e or i g i n a l.c o m A BOU T US
Slide 15: Why is TBZ Different?
Why is TBZ Different? TBZ Trusted / Competitive Advantages Leader in Specialty Scalability & Pedigree Reach 160 years of Wedding & Design Strong Occasion Exclusivity w w w . t b z t h e or i g i n a l.c o m • 37 stores (1,00,000+ ft.) • 160 years in jewellery Brand Value Jewellery • Presence – 27 ci
Slide 16: 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 17: Key Milestones
Key Milestones Strong Legacy Of More Than 160 Years Built On Trust (Calendar Years) Diamond facility expansion - ~6k to ~24k sq ft Flagship store Mr. Shrikant Zaveri Introduced 100% Turnover crossed Listed on BSE & NSE opened in Zaveri First to offer First to launch light INR `5,000 mn in Implementa
Slide 18: Retail Presence
Retail Presence 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 27 Cities in 13 States Total Stores 37 Total Area ( sq. ft) ~1,00,000+ Noida Jaipur Lucknow Udaipur
Slide 19: Business Model
18 w w w . t b z t h e or i g i n a l.c o m BUS IN ESS M ODE L
Slide 20: 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 . t b z t h e or i g i n a l.c o m Manufacturing • Gold jewellery manufacturing is outsourced. • Vast nation-wide network of 150+ ven
Slide 21: Business Model: Manufacturing contd.
Business Model: Manufacturing contd. Diamond Procurement • Raw Material - Cut & polished diamonds Sources: • DTC site holders w w w . t b z t h e or i g i n a l.c o m Manufacturing • In-house diamond jewellery manufacturing leading to exclusive designs, lower costs, and higher margins • Owned manufa
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: Our Strategic Pillars
Securing Future Growth: Our Strategic Pillars 160 years of Brand Value Leverage: TBZ Ltd boasts substantial brand value and a long-standing reputation for quality and craftsmanship. With over 160 years in business, the brand is recognized and trusted by multigenerational customers across India, prov
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: TBZ – The Original has won the award at Retail Jeweller India Forum- MD & CEO Awards 2025 in below category: “Exemplary Value creation for Shareholders 2025” Shri Shrikant Zaveri, has been conferred with the prestigious "Gems and Jewellery Industry Legend" Award at the illu
Slide 27: Awards & Recognition
Awards & Recognition • “EXEMPELARY VALUE CREATION FOR SHAREHOLDERS 2025“ Retail Jeweller India Forum- MD & CEO Awards 2025 • “EXCELLENCE IN LEADERSHIP, YOUNG LEADER OF THE YEAR 2025” : Ms. Raashi Zaveri GJEPC 40 under 40: Retail Jeweller India MD and CEO Awards. • “GEMS & JEWELLRY INDUSTRY LEGEND AW
Slide 28: Project Pankhi
PROJECT PANKHI Project Pankhi is TBZ’s flagship initiative focused on empowering women and adolescent girls from marginalised communities through mental health support, legal counselling, education, and awareness programmes. Key Impact Highlights for H1 FY26 (April–September 2025): • 500 counselling
Slide 29: Project Disha
PROJECT DISHA Project Disha is TBZ’s inclusive education initiative, focused on empowering children with disabilities and underserved students through specialised learning support, teacher training, parent capacity-building, and community-driven educational interventions. Key Impact Highlights for H
Slide 30: Thank You
w w w . t b z t h e or i g i n a l.c o m T HA N K Mukesh Sharma CFO Shankhini Saha YO U Director- Investor Relations mukesh.sharma@tbzoriginal.com tbz@dickensonworld.com
Tribhovandas Bhimji Zaveri — H1 FY26 Earnings Presentation on 6ix