Tribhovandas Bhimji Zaveri Limited · NSE:TBZ
Tribhovandas Bhimji Zaveri — Q2 FY24 Earnings Presentation
31 slides from Tribhovandas Bhimji Zaveri's earnings presentation, Nov 8, 2023
Slide 1: Cover letter to stock exchanges
Date: 81h November, 2023 To, To, The Manager, The Manager, Compliance Department, Compliance Department, National Stock Exchange of India Limited BSE Limited Exchange Plaza , Plot No. C/1 , Corporate Service Department, G Block, Bandra-Kurla Complex, Phiroze Jeejeebhoy Towers, Bandra (East), Mumbai-
Slide 2: Investor Presentation Q2FY24 & H1 FY24 Results
w w w . tb z th eo r ig in al . c om I NVEST OR PRESENT A TI ON Q2FY24 & H1 FY24 Results
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
04 Page Q2FY24 & H1 FY24 Results Update 13 Page About Us w w w . tb z th eo r ig in al . c om 18 Page Business Model DI SCUSSI ON 03 SUMMA RY
Slide 5: Q2FY24 & H1 FY24 Results Update
04 w w w . tb z th eo r ig in al . c om Q2FY24 & H1 FY24 RESULTS UPDATE
Slide 6: Q2 FY24 - Result Highlights
Q2 FY24 - Result Highlights (In ` Mn) Revenues & Gross Margin (%) EBITDA & EBITDA Margin (%) PAT & PAT Margin (%) 13.3% 10.9% 6.2% 1.9% 5,368 4.2% 4,806 1.2% 297 92 227 56 Q2 FY23 Q2 FY24 Q2 FY23 Q2 FY24 Q2 FY23 Q2 FY24 Revenue Gross Margin EBITDA EBITDA Margin PAT PAT Margin w w w . tb z th eo r ig
Slide 7: H1 FY24 - Result Highlights
H1 FY24 - Result Highlights (In ` Mn) Revenues & Gross Margin (%) EBITDA & EBITDA Margin (%) PAT & PAT Margin (%) 13.6% 10.7% 5.9% 11,167 10,514 3.7% 2.0% 619 0.8% 414 206 85 H1 FY23 H1 FY24 H1 FY23 H1 FY24 H1 Y23 H1 FY24 Revenue Gross Margin EBITDA EBITDA Margin PAT PAT Margin w w w . tb z th eo r
Slide 8: Q2 FY24 & H1 FY24 - Key Takeaways
Q2 FY24 & H1 FY24 - Key Takeaways Key Margin Highlights: • The Company's Gross profit has shown 8.74% YoY and 19.88% YoY growth in Q2FY24 and H1 FY24 respectively, aided by strategic initiatives and cost optimization measures during the year. Gross Margin improved by 235 bps and 292 bps respectively
Slide 9: Standalone Profit & Loss Statement
Q2 FY24 & H1 FY24- Standalone Profit & Loss Statement (In ` Mn) Particulars (In ` Mn) Q2FY24 Q2FY23 YoY% H1 FY24 H1 FY23 YoY% Revenue From Operation 4,805.86 5,367.94 -10.47% 10,514.02 11,166.91 -5.85% COGS 4,166.38 4,779.81 -12.83% 9,083.32 9,973.55 -8.93% Gross Profit 639.48 588.13 8.73% 1,430.70
Slide 10: Standalone Balance Sheet Update
Standalone Balance Sheet Update (In ` Mn) Particulars (In ` Mn) Sep-23 Mar-23 Shareholder's Funds 5,749.45 5,672.72 Loan Funds 1,942.59 1,224.38 Gold on Loan 2,008.97 2,195.30 Working Capital Loan 1,367.14 1,446.86 Lease Liability 881.97 887.80 Provisions 149.93 124.70 Other Long-Term Liabilities -
Slide 11: Punjagatta store New Store Reopening
New Store Reopening Punjagatta store w w w . tb z th eo r ig in al . c om 10
Slide 12: Marketing Initiatives During the Quarter
Marketing Initiatives During the Quarter • We hosted a grand relaunch for our Punjagatta store with Ms. Rakul Preet Singh, who also unveiled our ‘Mangala Collection.’ In August 2023, Shri Shrikant Zaveri, has been conferred with the prestigious "Gems and Jewellery Industry Legend" Award at the ill
Slide 13: Marketing Initiatives During the Quarter contd.
Marketing Initiatives During the Quarter contd. w w w . tb z th eo r ig in al . c om 12
Slide 14: About Us
13 w w w . tb z th eo r ig in al . c om A BOUT US
Slide 15: Why is TBZ Different?
Why is TBZ Different? TBZ Trusted / Competitive Advantages Leader in Specialty Pedigree Wedding & 158+ years of Design Scalability & Occasion Strong Exclusivity Reach w w w . tb z th eo r ig in al . c om • 158+ years in jewellery Jewellery Brand Value business • 8 - 10 new jewellery • 32 stores (1,0
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 158 Years Built On Trust Diamond facility Turnover crossed expansion - ~6k to ~24k Flagship store First to offer First to launch light Mr. Shrikant Zaveri Introduced 100% INR `5,000 mn in sq ft opened in Zaveri buyback weight jewellery took over the pre- hal
Slide 18: Retail Presence
Retail Presence Pan-India presence with 33 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.) 30 Small Format (<= 2,000 sq. ft.) 3 Noida Total Stores 33 Lucknow Total Area ( sq. ft) ~1,00,000+ Udaipur Patna G
Slide 19: Business Model
18 w w w . tb z th eo r ig in al . c om BUSI NESS MODEL
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 . tb z th eo r ig in al . c om Manufacturing • Gold jewellery manufacturing is outsourced. • Vast nation-wide network of 150+ vendors
Slide 21: 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 eo r ig in al . c om Manufacturing • In-house diamond jewellery manufacturing leading to exclusive designs, lower costs, and higher margins • Manufacturing fa
Slide 22: 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 eo r ig in al . c om Large Stores Large Format • > 2,000 sq ft Store • Standalone high street - heart of ci
Slide 23: 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 24: Securing Future Growth: Our Strategic Pillars
Securing Future Growth: Our 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, pro
Slide 25: 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 26: 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 27: 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 28: Awards & Recognition – Q2FY24 & H1FY24
Awards & Recognition – Q2FY24 & H1FY24 In August 2023, Shri Shrikant Zaveri, has been conferred with the prestigious "Gems and Jewellery Industry Legend" Award at the illustrious IIJS Tritiya 2023 event in Mumbai. Ms. Raashi Zaveri has been awarded the GJEPC 40 under 40, recognizing her as a you
Slide 29: CSR Initiatives – Project Pankhi
CSR Initiatives – Project Pankhi A Project initiated by TBZ to address the pervasive issue of gender-based violence faced by women in our society. • Implementing Partners:- Stree Mukti Sanghatana and Urja • Mumbai, Cultural Academy for Peace, Kochi • AWAG, Ahmedabad Face to Face Counselling • Counse
Slide 30: CSR Initiatives – Pehlay Akshar Foundation & Ek Disha
CSR Initiatives – Pehlay Akshar Foundation & Ek Disha Pehlay Akshar Foundation Infrastructural Development • 2 BMC Schools – Learning Room is being supported – Gilderlane and Balaram BMC schools in Mumbai Central • 1 TMC School – Learning Rooms are being built. (Work in process – Infrastructure reva
Slide 31: Thank You
w w w . tb z th eo r ig in al . c om TH A N K Mukesh Sharma CFO Shankhini Saha YOU Associate Director- IR mukesh.sharma@tbzoriginal.com tbz@dickensonworld.com
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