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Tribhovandas Bhimji Zaveri Limited Q2 FY26 results deck summary

NSE: TBZ · BSE: 534369

Results deck of 17 Nov 2025, summarised by AI from the filing.

Q2 FY26 gross margin 16.87%, up 318 bps YoY, on stronger execution and better realisation trends amid rise in gold price.

Key takeaways

  1. Margin change Q2 FY26 gross margin 16.87%, up 318 bps YoY, on stronger execution and better realisation trends amid rise in gold price.
  2. Growth driver Occasion-centric campaigns and two new flagship showrooms in Ahmedabad and Hyderabad drove walk-ins and customer acquisition.
  3. Main risk A sharp rise in gold prices requires TBZ to top up the bank guarantee on its gold lease, which is marked to market daily.

Original filing on BSE

Tribhovandas Bhimji Zaveri Limited Q1 FY27 results

As filed: Revenue ₹841 cr (+35% year on year), EBITDA ₹72.3 cr (+36% year on year), PAT ₹33.9 cr (+47% year on year), EBITDA margin 8.6% (+10 bps).

The Q1 FY27 score, against the company's own trend, is for premium members.

Earlier results and the share price after them

  • Q4 FY26: Revenue ₹830 cr (+57% year on year), EBITDA ₹112 cr (+204% year on year), PAT ₹67.6 cr (+300% year on year), EBITDA margin 13.5% (+655 bps). Score 85 of 100, Above trend. Revenue, EBITDA and profit growth were well above the company's own trend. EBITDA margin rose 655 bps year on year. Revenue fell 22% from last quarter. Share price after the results: +34.6% in 29 days (Nifty 500: +0.6%).
  • Q3 FY26: Revenue ₹1,061 cr (+14% year on year), EBITDA ₹131 cr (+119% year on year), PAT ₹80.6 cr (+169% year on year), EBITDA margin 12.4% (+589 bps). Score 87 of 100, Above trend. Revenue growth was above the company's own trend; EBITDA and profit growth were well above it. EBITDA margin rose 589 bps year on year. Share price after the results: −4.8% in 30 days (Nifty 500: +2.0%).
  • H1 FY26: Revenue ₹1,312 cr, EBITDA ₹114 cr, PAT ₹52.0 cr, EBITDA margin 8.7%. Not scored. No result for the same half-year last year. Share price after the results: −13.6% in 28 days (Nifty 500: −0.5%).
  • Q1 FY26: Revenue ₹624 cr (+5% year on year), EBITDA ₹53.0 cr (+29% year on year), PAT ₹23.0 cr (+35% year on year), EBITDA margin 8.5% (+161 bps). Score 60 of 100, In line with trend. Revenue growth was below the company's own trend; EBITDA and profit growth were above it. EBITDA margin rose 161 bps year on year. Share price after the results: −14.5% in 30 days (Nifty 500: +0.7%).
  • Q4 FY25: Revenue ₹529 cr (+4% year on year), EBITDA ₹37.0 cr (+19% year on year), PAT ₹9.0 cr (−31% year on year), EBITDA margin 7.0% (+88 bps). Score 39 of 100, Below trend. Revenue growth was below the company's own trend; EBITDA growth was in line with it; profit growth was well below it. EBITDA margin rose 88 bps year on year. Revenue fell 43% from last quarter. Share price after the results: −10.1% in 29 days (Nifty 500: +2.0%).
  • Q3 FY25: Revenue ₹928 cr (+25% year on year), EBITDA ₹60.0 cr (+33% year on year), PAT ₹30.0 cr (+43% year on year), EBITDA margin 6.5% (+39 bps). Score 76 of 100, Above trend. Revenue and EBITDA growth were well above the company's own trend; profit growth was above it. EBITDA margin rose 39 bps year on year.
  • Q2 FY25: Revenue ₹567 cr (+18% year on year), EBITDA ₹35.0 cr (+17% year on year), PAT ₹12.0 cr (+33% year on year), EBITDA margin 6.2% (−6 bps). Score 64 of 100, In line with trend. EBITDA margin was flat year on year. Not enough history for a trend yet: scored on growth alone. Revenue fell 5% from last quarter.

Past price moves after results do not indicate future moves. Not a recommendation.

Tribhovandas Bhimji Zaveri Limited earnings call, investor presentation and press release summaries

Figures from the company's filings with NSE and BSE. Not investment advice.