Announcement
Announcement under Regulation 30 (LODR)-Open Offer - Updates 15 Sep - TBZ received draft offer for GRT Jewellers' open offer at Rs 249.61 for 1,72,70,845 shares.
Source: Bse
Tribhovandas Bhimji Zaveri Limited (TBZ)
Small CapConsumer stocks · Small cap · NSE
Tribhovandas Bhimji Zaveri Limited operates in Jewellery, within the Consumer sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers.
Data qualityFresh enough for analysisQuote updated 19 Oct, 03:31 pm ISTDetails
Quote19 Oct, 03:31 pm IST
Base fundamentals06 Oct 2026 · screener
Latest result16 Aug, 01:25 am IST
Score20 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags04 Oct 2026
Coverage14/14 · 100%
Valuation2026-07-20 · Rf 6.8% · Consumer P/E 22.2 (n=441)
Technical timing lens
Trend score and candlestick chart
62Bullishfull bull SMA stack · SMA20 +50.4% / mo · RSI overbought · MACD + · near 52W high · sector -3.7pp vs Nifty 500 (3M)
Stock trend: 78
Sector RS: 36
Sector 3M: -9.3% vs Nifty 500 -5.6%
Consumer FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
TBZD candles · FIT view+425.5%Latest close ₹768.20 on 2026-10-19
Bar
-0.1%
RSI
77
MACD hist
5.97
52W pos
97%
2026-10-19O ₹769.00H ₹789.00L ₹722.15C ₹768.20Vol 3.3L sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
TBZNifty Consumer DurablesNifty 500
- TBZ
- +200.5%
- Nifty 500
- -5.6%
- Nifty Consumer Durables
- -9.7%
- Vs Nifty 500
- +206.1 pp
Chart stats
19 Oct 2026- From 52W high
- -2.6%
- 52W range position
- 97%
- ATR (14)
- 5.2%
- Volume vs 20D
- 0.75x
- Avg traded value
- ₹25.2 Cr
- 20D price channel
- ₹540.8 - ₹789
₹789
₹110.5 - ₹789
₹39.7
Latest completed session
20-session average
59.1% annualized volatility
Research snapshot
What the evidence says now
Investable fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend is neutral, and recent execution is consistent.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · UNDERVALUED66
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Good67
Revenue +34.8% · PAT +54.5% YoY
Technical
Bullish62
Price trend and sector-relative-strength timing.
Valuation
Legacy model+28.0%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence81
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Good · 67/100Rev +35% YoY · PAT +55% YoY · operating leverage · margin compression
Filed 30 Jun 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹841 Cr | +34.8% | +1.3% |
| EBITDA | ₹72 Cr | +35.8% | -35.7% |
| Operating margin | 9.0% | +0 bps | -500 bps |
| PAT | ₹34 Cr | +54.5% | -50.0% |
| PAT margin | 4.0% | +51 bps | -415 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 18.70
- P/B
- 4.75
- EV/EBITDA
- 11.89
- Market Cap
- 3990.00Cr
Profitability
- ROE
- 27.10%
- ROCE
- 21.90%
- ROA
- 10.18%
- Dividend Y
- 0.42%
Growth (CAGR)
- Revenue 5Y
- 19.00%
- EPS 5Y
- 36.00%
- Revenue 3Y
- 10.00%
- EPS 3Y
- 71.00%
Balance Sheet
- Debt/Equity
- 1.06
- Interest Coverage
- 5.43×
- Altman Z
- 4.77
- Book Value
- 126.00
Cash Flow
- FCF Yield
- 0.50%
- FCF Positive Y
- 10/5
- OCF
- 30.00 Cr
- EPS TTM
- 32.02
Shareholding
- Promoter Hold
- 74.12%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 83%
Financial History
Updated 19/10/2026
Revenue
₹ CrLatest: 3,420+6.8% vs prev
Net Profit
₹ CrLatest: 202+197.1% vs prev
Return on Equity
%Latest: 24.1+132.9% vs prev
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Mixed signalsSignals are conflicting — long-term uptrend intact. RSI 77. Wait for confirmation.
- Price > SMA20 > SMA50 > SMA200 — full bullish stack.
- SMA20 rising (~33.5% over last month) — short-term momentum positive.
- RSI(14) at 77 — overbought zone; risk of mean reversion.
- MACD above signal but histogram contracting — bullish momentum cooling.
- Within 3% of 52-week high — testing resistance.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
99
RS percentile
Stage 2 UptrendEstablished S2
1M return
+27.3%
3M return
+200.5%
6M return
+406.9%
1Y return
+324.1%
RS 1D
0
RS 20D
0
Sector rank
#9
Industry rank
#22
Stage evidence
- Price is 174.5% above the 30-week proxy.
- The 50-DMA is above the 30-week proxy and its slope is rising +32.2%.
- Both 3-month and 6-month returns are positive.
50-DMA
price above
200-DMA
price above
S2 entered
06 Jul 2026
S2 age
74 trading sessions
Sector
neutral
Industry
improving
Relative-strength line vs Nifty 500 (base 100)
262 observations
19 Oct 2026Value 437.52+2.24%
RS vs Nifty 500438
Valuation & peers
U-Score 66 · legacy U-Score band UNDERVALUED · valuation evidence and comparable companies
Valuation & peers
U-Score 66 · legacy U-Score band UNDERVALUED · valuation evidence and comparable companies
Premium Compounder
Fundamental score breakdown
U band · UNDERVALUEDValuation7/30
Growth24/25
Quality19/20
Balance Sheet7/15
Cash Flow4/10
Piotroski
7/9 (+5)
Penalties
0
Raw sum
66
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
66/100 · legacy band UNDERVALUED
Positive drivers
- Piotroski is strong at 7/9.
- Fair-value margin of safety is positive at 28.0%.
- Growth contributes 24/25 to the score.
Main drags
- Valuation is weaker at 7/30; verify the latest quarterly trend.
- Cash flow is weaker at 4/10; verify the latest quarterly trend.
- Balance sheet is weaker at 7/15; verify the latest quarterly trend.
Sector valuation model
Consumer valuation: PE/PEG and brand-quality premium
Consumer franchises can deserve higher multiples, but only when growth quality supports them.
Primary lens
PE and PEG relative to growth, ROE, margins, and brand strength.
Secondary checks
Volume growth, pricing power, distribution, same-store or category growth.
Main risk check
Premium valuation needs durable growth and margin resilience.
PE
18.7
PB
4.8
EV/EBITDA
11.9
ROE
27.1%
ROCE
21.9%
FCF Yield
0.5%
Debt/Equity
1.1
MoS
+28.0%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 20 Oct 2026
v4.3-runtime-valuation
Final score
66
Previous: 66
Legacy U-Score band
UNDERVALUED
Previous: UNDERVALUED
Margin of safety
+28.0%
Previous: +28.0%
Score history
12 stored score snapshots. Latest stored move: +0 points.
20 Oct 2026
v4.3-runtime-valuation
72
69
69
69
69
66
66
66
66
66
66
66
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹301.29
-155.0% MoS
Growth-justified P/E
33.3
Growth-justified Value
₹1,066.27
+28.0% MoS
PEG
0.37
Comparable companies
Peers
Business-comparable peers in Consumer — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
SHRINGARMS
Small
Shringar House of Mangalsutra Limited
Retail
match 93
59
17.5
26.3%
+24%
FAIR VALUE
MOTISONS
Small
Motisons Jewellers Limited
Retail
match 92
55
30.2
14.0%
+23%
FAIR VALUE
RGL
Small
Renaissance Global Limited
Retail
match 91
49
15.9
6.9%
+51%
FAIR VALUE
VAIBHAVGBL
Micro
Vaibhav Global Limited
Retail
match 90
71
12.0
17.9%
+48%
UNDERVALUED
DPABHUSHAN
Small
D. P. Abhushan Limited
Retail
match 90
42
120.0
34.5%
-280%
WATCHLIST
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Issuer presentation review pending
Tribhovandas Bhimji Zaveri Limited operates in Jewellery, within the Consumer sector. Use the latest filing and company disclosures below to verify its revenue mix and current business drivers. The structured result feed currently covers the quarter ended 30 Jun 2026. Investor presentations and earnings-call PDFs will be added as issuer-backed evidence before management claims appear here.
Trust Score
81Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 93rd percentile of the scored universe and 96th percentile within Consumer. No major sub-score weakness stands out.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 05 Sept 2026
management-trust-v1
146 docs text-extracted · 58 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
93rd percentile
overall median 67 · Consumer: 96th pctile, median 66 · Small: 95th pctile, median 66
Evidence depth
Financial-only
146 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Can support position sizing if valuation and trend also agree.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
86
strong · holding, pledge, alignment
Cash flow
77
strong · profit to cash conversion
Balance sheet
69
acceptable · leverage and solvency
Discipline
90
strong · capital discipline
Results
87
strong · quarterly consistency
Trust positives
- ▸Promoter holding is 74.1%.
- ▸Promoter pledge is zero.
- ▸FCF yield is positive at 0.6%.
- ▸10 years of positive FCF.
Trust risks
- ▸Debt/equity is 1.06.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Tribhovandas Bhimji Zaveri Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Credit rating
Announcement under Regulation 30 (LODR)-Credit Rating 11 Sep - ICRA placed TBZ ratings on watch positive after 74.12% stake sale SPA to GRT Jewellers for about Rs1,034 crore.
Source: Bse
Announcement
Announcement Under Regulation 30 (LODR) - Detailed Public Statement - Open Offer 7 Sep - GRT Jewellers launches open offer for 1.72 crore TBZ shares at ₹249.61 each.
Source: Bse
Annual report
Annual Report 2026
Source: Bse
Annual report
Annual Report 2026 from bse
Source: Bse
Annual report
Annual Report 2025
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.