Jewellery major TBZ (Tribhovandas Bhimji Zaveri) sparkled in Q3 & 9M FY26!

1. **Business Performance:** Revenue for Q3 surged 14.40% YoY to ₹1,061.42 Cr, with 9M revenue up 13.49% YoY to ₹2,373.26 Cr.

Profitability was a standout, with Q3 PAT rocketing 168.26% YoY to ₹81.77 Cr and 9M PAT climbing 114.60% to ₹133.41 Cr, fueled by strong gross margin expansion and operational efficiencies.

2. **Growth Drivers & Strategy:** TBZ is leveraging its 160-year legacy and expanding its retail footprint with new stores in key locations like Ahmedabad and Hyderabad (opened April 2025). A diversified portfolio of gold, diamond, and gemstone jewellery caters to broad customer segments.

3. **Recent Developments:** The company launched its innovative "Dohra" detachable jewellery collection, successfully adapted for both festive and wedding seasons.

Digital engagement remains strong, driving customer walk-ins.

4. **Key Financial Metrics:** Impressive double-digit growth in both revenue and profits signals robust performance and enhanced bottom-line.

5. **Outlook:** Management attributes success to scale efficiencies and disciplined cost control, positioning TBZ for continued market share gains and strong growth in the vibrant Indian market.