Tribhovandas Bhimji Zaveri Limited Announced Fourth Quarter & Full Year FY2014-15 Results

Tribhovandas Bhimji Zaveri Limited (“TBZ”), India’s renowned and trusted jewellery retailer with a legacy of over 150 years, reported its reviewed and audited results and financial performance for the fourth quarter & full year of financial year ending 31^st March, 2015.

The total income from operations during Q4FY15 grew 3.98% YoY to Rs. 463.01 crores. Q4FY15 EBITDA declined by 22.71% YoY to Rs. 24.94 crores with an EBITDA margin of 5.39%. Q4FY15 PAT grew 58.03% YoY to Rs. 18.49 crores with a PAT margin of 3.99%. 

The total income from operations during FY15 grew 6.38% YoY to Rs. 1,934.20 crores. FY15 EBITDA declined by 43.61% YoY to Rs. 74.84 crores with an EBITDA margin of 3.87%. FY15 PAT declined by 52.71% YoY to Rs. 26.04 crores with a PAT margin of 1.35%. 

Mr. Shrikant Zaveri, Chairman and Managing Director of the company stated that “The fourth quarter witnessed sustained momentum in consumer demand which had gained traction during the third quarter. With gold prices remaining largely stable, the consumer sentiments displayed gradual improvement. Furthermore, the onset of wedding season since November 2014 helped maintain sustained sales at TBZ stores. The company was also able to display an improved year-over-year performance during various festival and auspicious occasions during the quarter. We believe we will see an improved performance in coming quarters backed by several macroeconomic and industry tailwinds in the form of removal of the 80:20 regulation, reinstatement of gold metal loans, drop in inflation, drop in oil prices and improving consumer discretionary sentiments. The company shall continue its efforts to attract customers through innovative designs, new gold & diamond wedding jewellery collections and fresh and effective marketing & advertising strategies”.

About Tribhovandas Bhimji Zaveri Limited

Tribhovandas Bhimji Zaveri Limited is India’s renowned and trusted jewellery retailer with a legacy of more than 150 years. The company began its journey in 1864 opening its flagship store in Zaveri Bazar, Mumbai. Over the years, the company has established itself as a preferred choice for customers in the wedding jewellery segment, recognised for exquisite gold and diamond jewellery designs. It has led from the front, in an otherwise largely unorganised Indian jewellery industry, displaying high quality and transparency standards over last 150 years, being the first jeweller to offer buyback guarantee on jewellery and to introduce 100% pre-hallmarked jewellery in India.

The company has transformed itself from a one store family owned business in 1864 to a professional organisation spearheaded by the 5^th generation of the family, expanding its presence and reach across India with 28 stores currently operational with a retail space of around 91,000 sq ft spread across 22 cities in 10 states. The company envisions an ambitious plan to further expand its retail operations to 57 stores with a retail space of 1,50,000 sq ft spread across 43 cities in 14 states.