Price
Financials
Consolidated, Rs crore| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 481 | 741 | 507 | 596 | 567 | 928 | 529 | 624 | 688 | 1,061 | 830 | 841 |
| Expenses | 451 | 695 | 475 | 555 | 532 | 868 | 493 | 571 | 624 | 930 | 717 | 769 |
| Operating Profit | 30 | 46 | 31 | 41 | 35 | 60 | 36 | 53 | 64 | 131 | 112 | 72 |
| OPM % | 6% | 6% | 6% | 7% | 6% | 6% | 7% | 9% | 9% | 12% | 14% | 9% |
| Other Income | 1 | 2 | 2 | 1 | 1 | 1 | 1 | 2 | 2 | 2 | 2 | 2 |
| Interest | 13 | 12 | 13 | 13 | 13 | 13 | 17 | 18 | 16 | 19 | 16 | 19 |
| Depreciation | 6 | 6 | 5 | 6 | 6 | 6 | 7 | 7 | 8 | 6 | 8 | 9 |
| Profit before tax | 12 | 29 | 15 | 23 | 17 | 42 | 14 | 30 | 42 | 108 | 90 | 47 |
| Tax % | 26% | 26% | 17% | 27% | 30% | 28% | 30% | 24% | 25% | 26% | 25% | 27% |
| Net Profit | 9 | 21 | 13 | 17 | 12 | 30 | 9 | 22 | 32 | 81 | 68 | 34 |
| EPS in Rs | 1.35 | 3.21 | 1.89 | 2.56 | 1.79 | 4.48 | 1.42 | 3.37 | 4.72 | 12.08 | 10.14 | 5.08 |
| Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 1,655 | 1,690 | 1,751 | 1,764 | 1,810 | 1,342 | 1,844 | 2,394 | 2,299 | 2,620 | 3,203 | 3,420 |
| Expenses | 1,612 | 1,617 | 1,672 | 1,681 | 1,690 | 1,216 | 1,762 | 2,269 | 2,153 | 2,439 | 2,834 | 3,040 |
| Operating Profit | 42 | 73 | 79 | 83 | 120 | 126 | 82 | 124 | 146 | 181 | 369 | 380 |
| OPM % | 2.6% | 4.3% | 4.5% | 4.7% | 7% | 9% | 4.4% | 5% | 6% | 7% | 12% | 11% |
| Other Income | 4 | 3 | 6 | 4 | 2 | 12 | 8 | 5 | 6 | 4 | 7 | 7 |
| Interest | 61 | 55 | 44 | 53 | 62 | 52 | 41 | 53 | 57 | 64 | 77 | 70 |
| Depreciation | 10 | 9 | 9 | 10 | 32 | 27 | 23 | 24 | 24 | 25 | 29 | 30 |
| Profit before tax | -26 | 12 | 32 | 23 | 28 | 60 | 26 | 52 | 72 | 96 | 270 | 287 |
| Tax % | 7% | -10% | 34% | 33% | 24% | 28% | 22% | 23% | 24% | 29% | 25% | |
| Net Profit | -28 | 13 | 21 | 16 | 21 | 43 | 20 | 40 | 54 | 68 | 202 | 214 |
| EPS in Rs | -4.13 | 1.94 | 3.19 | 2.33 | 3.21 | 6.48 | 3.02 | 6.02 | 8.16 | 10.25 | 30.32 | 32.02 |
| Dividend Payout % | 0% | 0% | 24% | 32% | 31% | 39% | 33% | 29% | 21% | 22% | 8% |
| 10 Years | 5 Years | 3 Years | TTM | 1 Year | Last Year | |
|---|---|---|---|---|---|---|
| Compounded Sales Growth | 7% | 19% | 10% | 29% | ||
| Compounded Profit Growth | 25% | 36% | 71% | 189% | ||
| Stock Price CAGR | 25% | 51% | 75% | 244% | ||
| Return on Equity | 9% | 13% | 17% | 27% |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 67 | 67 | 67 | 67 | 67 | 67 | 67 | 67 | 67 | 67 | 67 | 67 |
| Reserves | 397 | 369 | 389 | 410 | 417 | 414 | 456 | 461 | 494 | 535 | 590 | 771 |
| Borrowings | 588 | 650 | 549 | 569 | 606 | 637 | 438 | 588 | 575 | 614 | 792 | 886 |
| Other Liabilities | 237 | 210 | 187 | 174 | 334 | 350 | 254 | 341 | 339 | 243 | 320 | 378 |
| Total Liabilities | 1,289 | 1,296 | 1,192 | 1,219 | 1,423 | 1,468 | 1,215 | 1,457 | 1,475 | 1,459 | 1,769 | 2,102 |
| Fixed Assets | 108 | 109 | 103 | 103 | 111 | 174 | 140 | 152 | 159 | 151 | 164 | 183 |
| CWIP | 5 | 0 | 2 | 0 | 0 | 0 | 0 | 0 | 1 | 0 | 1 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 1,176 | 1,187 | 1,088 | 1,116 | 1,312 | 1,294 | 1,075 | 1,305 | 1,316 | 1,308 | 1,604 | 1,919 |
| Total Assets | 1,289 | 1,296 | 1,192 | 1,219 | 1,423 | 1,468 | 1,215 | 1,457 | 1,475 | 1,459 | 1,769 | 2,102 |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operating Activity | 15 | 14 | 153 | 42 | 32 | 149 | 231 | -66 | 93 | 40 | -27 | 30 |
| Cash from Investing Activity | 26 | -11 | 0 | -9 | -21 | -6 | 5 | -2 | -7 | -7 | -45 | -10 |
| Cash from Financing Activity | -47 | -2 | -155 | -27 | -16 | -147 | -233 | 71 | -87 | -29 | 85 | -17 |
| Net Cash Flow | -7 | 1 | -2 | 6 | -4 | -4 | 3 | 2 | -0 | 4 | 13 | 2 |
| Free Cash Flow | 2 | 4 | 146 | 32 | 17 | 146 | 230 | -67 | 86 | 31 | -39 | 16 |
| CFO/OP | 29% | 35% | 208% | 61% | 51% | 133% | 196% | -70% | 82% | 40% | -1% | 26% |
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 0 | 0 | 0 | 5 | 5 | 1 | 1 | 0 | 0 | 3 | 0 | 0 |
| Inventory Days | 246 | 292 | 261 | 265 | 307 | 293 | 326 | 276 | 214 | 223 | 241 | 249 |
| Days Payable | 24 | 24 | 20 | 24 | 51 | 48 | 46 | 46 | 36 | 20 | 27 | 24 |
| Cash Conversion Cycle | 222 | 269 | 241 | 246 | 261 | 246 | 280 | 230 | 178 | 205 | 215 | 226 |
| Working Capital Days | 61 | 63 | 66 | 67 | 66 | 64 | 105 | 75 | 63 | 73 | 65 | 74 |
| ROCE % | 8% | 3% | 6% | 7% | 7% | 8% | 11% | 6% | 9% | 11% | 12% | 22% |
| Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoters | 74.12% | 74.12% | 74.12% | 74.12% | 74.12% | 74.12% | 74.12% | 74.12% | 74.12% | 74.12% | 74.12% | 74.12% |
| FIIs | 0.94% | 1.82% | 1.02% | 0.76% | 0.92% | 0.60% | 0.64% | 0.55% | 0.00% | 0.00% | 0.26% | 1.47% |
| DIIs | 0.00% | 0.00% | 0.00% | 0.00% | 0.12% | 0.07% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Public | 24.94% | 24.05% | 24.87% | 25.12% | 24.85% | 25.20% | 25.26% | 25.33% | 25.88% | 25.88% | 25.63% | 24.41% |
| No. of Shareholders | 29,290 | 30,876 | 31,111 | 31,369 | 49,524 | 55,154 | 53,666 | 53,830 | 53,332 | 51,973 | 54,101 | 50,689 |
Fundamentals
Market Cap₹ 4,184 Cr.
Current Price₹ 626
Stock P/E19.6
Book Value₹ 126
ROCE21.9 %
ROE27.1 %
Dividend Yield0.40 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)29%
Compounded Profit Growth (TTM)189%
Consolidated figures.
Valuation
Market capRs 4,160 Cr
Enterprise valueRs 4,945 Cr
P/E (TTM)19.47x
Price to book4.96x
Price to sales1.22x
EV / EBITDA12.77x
EV / EBIT13.86x
EV / sales1.45x
Price to cash flow140.13x
Earnings yield5.14%
Dividend yield0.40%
P/E, 3-year average11.44x
P/B, 3-year average1.30x
P/E, 5-year average13.41x
P/B, 5-year average1.10x
Profitability
Operating margin (excl. other income)11.53%
Operating margin (incl. other income)11.75%
EBITDA margin11.32%
Pre-tax margin8.40%
Net profit margin6.25%
Net margin, latest quarter4.03%
ROE27.06%
ROCE21.87%
ROA10.45%
ROE, 3-year average15.76%
ROCE, 3-year average14.93%
ROA, 3-year average6.13%
ROE, 5-year average11.70%
ROCE, 5-year average12.10%
ROA, 5-year average4.53%
ROIC (approx.)16.46%
Tax rate25.15%
Other income / net worth0.85%
Growth
Sales growth (latest year)22.23%
Profit growth (latest year)195.82%
Sales CAGR, 3 years10.20%
Sales CAGR, 5 years19.00%
Profit CAGR, 3 years71.38%
Profit CAGR, 5 years36.13%
Sales growth QoQ1.36%
Profit growth QoQ-49.85%
Sales growth YoY (latest quarter)34.77%
Profit growth YoY (latest quarter)50.76%
Per share
EPS (TTM)Rs 32.03
EPS (latest year)Rs 30.32
EPS (latest quarter)Rs 5.08
EPS, 3-year averageRs 16.24
EPS, 5-year averageRs 11.55
Book value per shareRs 125.60
Sales per shareRs 512.50
Cash flow per shareRs 4.45
Free cash flow per shareRs 2.40
Dividend per share (latest year)Rs 2.50
Dividend per share, 3-year averageRs 2.17
Dividend per share, 5-year averageRs 1.85
Dividends
Dividend payout8.24%
Dividend payout, 3-year average17.22%
Dividend payout, 5-year average22.75%
Efficiency
Asset turnover1.52x
Fixed asset turnover17.54x
Inventory turnover1.49x
Inventory days245 days
Debtor days0 days
Debtors turnover1071.22x
Creditor days24 days
Cash conversion cycle226 days
Working capital days74 days
Leverage
Total debtRs 886 Cr
Cash and bankRs 102 Cr
Net debtRs 784 Cr
Debt to equity1.06x
Net debt / EBITDA2.03x
Interest coverage5.12x
Current ratio (filing 2026-03-31)1.65x
Quick ratio (filing 2026-03-31)0.11x
Trade payables (filing 2026-03-31)Rs 170 Cr
Owners' fund to total sources39.87%
Debt to assets42.16%
Cash flow
Cash from Operating Activity (latest year)Rs 30 Cr
Cash from Investing Activity (latest year)Rs -10 Cr
Cash from Financing Activity (latest year)Rs -17 Cr
Net Cash Flow (latest year)Rs 2 Cr
Free cash flow (latest year)Rs 16 Cr
FCFE (approx.: FCF + change in debt)Rs 110 Cr
Cash from ops / profit, 5 years0.18x
Sales to cash flow107.88x
Statement figures
Net sales (TTM)Rs 3,420 Cr
Net sales (latest year)Rs 3,203 Cr
Sales (latest quarter)Rs 841 Cr
Operating profit excl. other income (latest year)Rs 369 Cr
Operating profit (latest quarter)Rs 72 Cr
Other income (TTM)Rs 7 Cr
EBITDA (TTM)Rs 387 Cr
PBDT (TTM)Rs 318 Cr
Profit before tax (TTM)Rs 287 Cr
Tax (latest year)Rs 68 Cr
Net profit (TTM)Rs 214 Cr
Net profit (latest year)Rs 202 Cr
Net profit (latest quarter)Rs 34 Cr
Depreciation (TTM)Rs 30 Cr
Depreciation (latest quarter)Rs 9 Cr
Interest (TTM)Rs 70 Cr
Cost of goods sold (latest year)Rs 2,646 Cr
Total expenditure (latest year)Rs 2,834 Cr
Total income (latest year)Rs 3,210 Cr
Share capitalRs 67 Cr
ReservesRs 771 Cr
Shareholders' fundsRs 838 Cr
Total assetsRs 2,102 Cr
Net blockRs 183 Cr
Capital work in progressRs 0 Cr
InvestmentsRs 0 Cr
ReceivablesRs 3 Cr
InventoryRs 1,773 Cr
Other liabilitiesRs 378 Cr
Shares outstanding (crore)6.67
Ownership
Promoter holding74.12% (+0.00 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 19.5 is at the 58th percentile of its own 9.4-year range
(median 18.3, low 5.2, high 64.6).
P/B 4.96 is at the 98th percentile (median 1.05).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
| Period | TBZ | Nifty 50 | Difference |
|---|---|---|---|
| 1 week | -7.6% | -2.8% | -4.8 pts |
| 1 month | +70.0% | -6.8% | +76.8 pts |
| 3 months | +223.7% | -7.6% | +231.3 pts |
| 6 months | +459.1% | +0.4% | +458.7 pts |
| 1 year | +236.3% | -9.9% | +246.2 pts |
| 2 years | +120.3% | -13.6% | +133.9 pts |
| 3 years | +431.7% | +14.2% | +417.6 pts |
| 5 years | +678.8% | +27.9% | +650.9 pts |
Red flags
F-score 7 of 8| explain | Weak cash conversion Cash from operations was 13% of net profit over the last 3 years |
| look | On NSE surveillance On NSE surveillance: ASM long-term |
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.
Latest quarter
Jun 2026Sales ₹841 Cr +34.8% vs Jun 2025.
Net profit ₹34 Cr +54.5%.
Activity
Compare| Company | Mcap (Cr) | P/E | ROCE |
|---|---|---|---|
| Titan Company Ltd | 415,040 | 71.1 | 20.5 % |
| Kalyan Jewellers India Ltd | 58,748 | 40.2 | 21.2 % |
| Lalithaa Jewellery Mart Ltd | 20,989 | 22.0 | 38.0 % |
| Thangamayil Jewellery Ltd | 16,177 | 41.2 | 25.5 % |
| PC Jeweller Ltd | 12,976 | 16.7 | 9.60 % |
| Sky Gold & Diamonds Ltd | 12,713 | 38.0 | 27.0 % |
| Bluestone Jewellery & Lifestyle Ltd | 12,315 | 219 | 6.78 % |
| P N Gadgil Jewellers Ltd | 8,612 | 19.2 | 21.0 % |
| Timex Group India Ltd | 7,360 | 82.5 | 82.8 % |
| Ethos Ltd | 6,662 | 63.1 | 10.4 % |
| Senco Gold Ltd | 5,363 | 9.40 | 21.2 % |
| Goldiam International Ltd | 4,861 | 23.0 | 25.8 % |
| KDDL Ltd | 4,836 | 49.3 | 11.7 % |
| D.P. Abhushan Ltd | 3,796 | 15.8 | 39.6 % |
| Vaibhav Global Ltd | 3,393 | 11.9 | 16.4 % |
No bulk or block deals on record.
| Ex-date | Action | Factor |
|---|---|---|
| 2026-09-02 | Dividend - Rs 2.50 Per Share | |
| 2025-09-02 | Dividend - Rs 2.25 Per Share | |
| 2024-09-03 | Annual General Meeting/Dividend - Rs 1.75 Per Share | |
| 2023-09-06 | Annual General Meeting/Dividend - Rs 1.75 Per Share | |
| 2022-08-19 | Annual General Meeting/Dividend - R E 1 Per Share | |
| 2021-09-08 | Annual General Meeting/Dividend - Rs 2.50 Per Share | |
| 2020-09-22 | Annual General Meeting | |
| 2020-03-19 | Interim Dividend - Re 1 Per Share | |
| 2019-09-17 | Annual General Meeting/Dividend - Rs 0.75 Per Share | |
| 2018-07-23 | Annual General Meeting/Dividend- Re 0.75 Per Share | |
| 2017-09-11 | Annual General Meeting | |
| 2016-09-09 | Annual General Meeting | |
| 2015-09-01 | Annual General Meeting/ Dividend - Re 1/- Per Share | |
| 2014-09-11 | Annual General Meeting / Dividend - Rs 1.50/- Per Share + Special Dividend - Re 0.75/- Per Share | |
| 2013-08-14 | Annual General Meeting And Dividend Rs.2.25 Per Share | |
| 2012-09-13 | Annual General Meeting/ Dividend Rs. 0.75 Per Share |
No announcements in our files yet.
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Long Term Additional Surveillance Measure (Long Term ASM): stage 4