Tribhovandas Bhimji Zaveri (TBZ) — concall transcript

📢 Key Event
Q3 FY24 earnings call emphasized 13.5% YoY gross profit growth to INR292.33 crores and 17.31% YoY growth to INR235.4 crores for 9 months.

🔄 What Changed
Gross profit margins improved 13.5% YoY in Q3 and 17.31% YoY over 9 months; EBITDA margins expanded 77-158 bps YoY.

🔮 What's Next
Management expects EBITDA margins to exceed 6.5% in upcoming quarters and targets 15-20% same-store sales growth in FY25.

💡 Investor Takeaway
Shareholders should note the company is prioritizing margin expansion over revenue growth through selective store expansion and franchise model optimization.

During the Q3 FY24 earnings call, management highlighted a 13.5% YoY increase in gross profit to INR292.33 crores with a 12.46% margin, and a 17.31% YoY rise in gross profit to INR235.4 crores for 9 months FY24. They noted margin expansion, strategic store openings in Vapi, and cautious expansion plans. Analysts questioned revenue degrowth, store rollout pace, and future margin targets, with management citing gold price impacts, shifted wedding seasons, and selective franchisee-focused growth as key factors.

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About Tribhovandas Bhimji Zaveri Ltd (TBZ)

Consumer Durables · Diamond, Gems and Jewellery · Listed on BSE

Market Cap: ₹2,783 Cr P/E: 13.0 ROE: 32.5% ROCE: 26.3% Div Yield: 0.54%

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🔥 Also filed on 31 December 2023

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Source: Stock Announcements. Analysis by StockFin.ai. For informational purposes only — not investment advice.

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