Connect with us

Technology

TBZ Ltd. achieves 32% EBITDA increase and 63% PBT growth in Q1FY25; Unveils new Jaipur Store

Published

on

MUMBAI, India, Aug. 5, 2024 /PRNewswire/ — Tribhovandas Bhimji Zaveri Limited (TBZ Ltd.), India’s premier and trusted jewellery retailer with a legacy spanning 160 years, announces an exceptional financial performance for the first quarter of FY25. The Company reports significant improvements in key profitability metrics, driven by effective operational strategies and market expansion efforts.

Exceptional Financial Performance:

TBZ Ltd. has recorded a substantial increase in Profit Before Tax (PBT) in Q1 FY25, reaching ₹248.16 million, a 63.39% rise from ₹151.88 million in Q1 FY24. Profit After Tax (PAT) also saw impressive growth, climbing 61.98% to Rs. 184.68 million from ₹114.01 million. Earnings Per Share (EPS) surged by 61.99% to ₹2.77, compared to ₹1.71 in the previous year’s first quarter. Gross profit increased by 8.55%, totalling ₹858.84 million from ₹791.22 million in Q1 FY24, with a gross margin improvement of 54 basis points to 14.40%. Additionally, the PAT margin improved by 110 basis points to 3.10.

Over the last three years, TBZ Ltd.’s Q1 EBITDA and EBITDA margin have shown steady and persistent improvements. In Q1 FY23, the EBITDA was ₹186.72 million with a margin of 3.22%. By Q1 FY24, these figures had increased to ₹322.24 million and a margin of 5.65%. The upward trend has continued in Q1 FY25, with the Company’s EBITDA growing year-on-year by 32.19% to ₹425.96 million, reflecting strong operational efficiency, and the EBITDA margin improving by 150 basis points to 7.14%. This consistent growth in EBITDA highlights the Company’s ongoing  operational strategies and focus on enhancing profitability while growing sales.

“Our Q1FY25 results clearly demonstrate our ongoing commitment to operational excellence, which has been instrumental in driving this significant PBT growth,” stated Mr. Srikant Zaveri, Chairman of TBZ Ltd. “Key performance indicators such as administrative and sales cost control, inventory turnover, and capital efficiency have been central to improving our operational metrics, directly impacting our bottom line. Our ongoing strategic initiatives, particularly in optimizing these areas, continue to prove effective, contributing to our strong financial performance. There is always room for further improvements, and we are determined to continue pursuing these goals.”

Summary Table

(Standalone Figures)

                  (Rs. In Millions)

Particulars

Q1 FY 25

Q1 FY 24

% Change

Revenue from Operations

₹5,962.43

₹5,708.16

4.45 %

Gross Profit

₹858.84

₹791.22

8.55 %

Gross Margin

14.40 %

13.86 %

54 bps

EBITDA

₹425.96

₹322.24

32.19 %

EBITDA Margin

7.14 %

5.65 %

150 bps

Profit Before Tax (PBT)

₹248.16

₹151.88

63.39 %

Profit After Tax (PAT)

₹184.68

₹114.01

61.98 %

PAT Margin

3.10 %

2.00 %

110 bps

EPS

₹2.77

₹1.71

61.99

 

Market Demand and Sales Strategies

TBZ Ltd. achieved revenue from operations of ₹5,962.43 million, representing a 4.45% increase from ₹5,708.16 million in Q1FY24. This steady growth reflects resilient and consistent sales performance, supported by a healthy and improving product mix that has contributed to better margins. The Company’s strategic focus on high-margin products and profitable growth has led to improved profitability. TBZ Ltd.’s gross profit increased by 8.55%, showcasing the effectiveness of its margin-focused strategies. The Company is no longer pressured into low-margin sales, instead prioritizing margin growth and overall profitability.

TBZ Ltd. continues to enjoy strong goodwill and brand appreciation, not only among traditional buyers but also among new customers. This wider market acceptance is a testament to the Company’s ability to meet evolving customer preferences while maintaining its legacy of quality and craftsmanship. Embracing technological advancements and innovative marketing strategies, TBZ Ltd. enhances customer engagement and experience. The opening of the Jaipur store is part of a broader strategy to strengthen market presence through strategic franchise partnerships and digital transformation initiatives.

Mr. Mukesh Sharma, CFO of TBZ Ltd., commented, “Our Q1FY25 performance highlights the successful ongoing execution of our strategic initiatives aimed at margin growth and profitability. The 4.45% increase in revenue from operations to ₹5,962.43 million and the 8.55% rise in gross profit to ₹858.84 million demonstrate our effective sales strategies and robust product mix. As always, we have focused on high-margin products, which has significantly improved our bottom line. Additionally, the recent reduction in custom duty on gold and silver is a positive development that will lower our input costs and further enhance our profitability. We are excited about the future and remain committed to delivering exceptional value to our shareholders through continuous innovation and market adaptation.”

Opening 34th store and 4th Franchise store at Jaipur, Rajasthan

TBZ Ltd. has strategically expanded its footprint through its franchise model while remaining steadfast in its commitment to quality over quantity. The newly inaugurated Jaipur store exemplifies this philosophy, strategically located to capitalize on a market rich in cultural heritage and commercial potential. This approach underscores TBZ Ltd.’s proactive strategy of thoughtful and sustainable growth, ensuring each new venture not only contributes to the Company’s bottom line but also strengthens its commitment to delivering unparalleled quality and customer satisfaction.

“Opening our new franchise in Jaipur is a cornerstone of our strategic expansion, and it epitomizes our commitment to growth that doesn’t compromise on the standards of excellence and customer service TBZ Ltd. is renowned for,” stated Ms. Binaisha Zaveri, Director of TBZ Ltd. “This new establishment is not merely a store, but a beacon of our legacy in a city that reveres the art of jewellery. It’s a strategic move that ensures our presence in key markets while upholding our ethos of quality and customer-centricity. We are not just opening doors in new locations; we are crafting unique experiences and forging enduring relationships with our patrons.”

About Tribhovandas Bhimji Zaveri Limited:

Tribhovandas Bhimji Zaveri Limited is India’s renowned and trusted jewellery retailer with more than 160 years of legacy. The Company began its journey in 1864, opening its flagship store in Zaveri Bazar, Mumbai. Over the years, the Company has established itself as a preferred choice for customers in the wedding jewellery segment, recognized for exquisite gold and diamond jewellery designs. It has led from the front in an otherwise largely unorganized Indian jewellery industry, displaying high quality and transparency standards over the last 160 years, being the first jeweller to offer a buyback guarantee on jewellery and introduce 100% per-hallmarked jewellery in India. The Company transformed from a one-store family-owned business in 1864 to a professional organization spearheaded by the 5th generation, expanding its presence and reach across India with 34 stores in 26 cities.

Photo: https://mma.prnewswire.com/media/2475373/EBITDA_AND_EBITDA_Margin.jpg

 

View original content to download multimedia:https://www.prnewswire.com/in/news-releases/tbz-ltd-achieves-32-ebitda-increase-and-63-pbt-growth-in-q1fy25-unveils-new-jaipur-store-302214373.html

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

Cultivating a Culture of Peace: International Day of Peace Statement by Education Cannot Wait Executive Director Yasmine Sherif

Published

on

By

NEW YORK, Sept. 21, 2024 /CNW/ — The longing for peace transcends time, geography and religion. Based on justice, human rights and universal values outlined in the UN Charter, a culture of peace brings us all together in our common agenda for humanity. We can only co-exist by aligning ourselves with such a world order.

On today’s International Day of Peace, we call on world leaders to end conflict and embrace a culture of peace as enshrined in the UN Charter and related international law.

As the UN General Assembly outlined in the Declaration and Programme of Action on a Culture of Peace  a quarter of a century ago, this must include: “Respect for life, human rights and fundamental freedoms; the promotion of non-violence through education, dialogue and cooperation; commitment to peaceful settlement of conflicts; and adherence to freedom, justice, democracy, tolerance, solidarity, cooperation, pluralism, cultural diversity, dialogue and understanding at all levels of society and among nations.”

Educating for peace starts at home and continues in school through years of education. This takes place during the most formative years of a child learning about their identity, ethics, values, conscience, courage and compassion. Wherever there has been a failure in imparting on children the imperative for peace, the world is turned upside down. This is a global failure with no geographical boundaries.

Today, we live in a world of unprecedented violence, armed conflict and chaos. All the genuine and heartfelt commitments made in 1945 in the UN Charter seem to be fading away. Children and adolescents are the most vulnerable, the least protected, and the most impacted. They bear the brunt. 

Global conflicts killed three times as many children in 2023 than in the previous year, according to the United Nations. The number of forcibly displaced people reached an unprecedented 120 million in May 2024.

“In 2023, the United Nations verified a record 32,990 grave violations against 22,557 children in 26 conflict zones, a 35% increase from the previous year,” according to recent analysis by the UN.

We can end these violations and invest in a constructive co-existence globally. We can use our resources for education, rather than for wars. In classrooms around the world, girls and boys who have withstood the wrath of war can rebuild their hopes and their lives. Cultivating a culture of peace is possible. The financial resources exist. The choice as to how we use them is ours.

View original content to download multimedia:https://www.prnewswire.com/news-releases/cultivating-a-culture-of-peace-international-day-of-peace-statement-by-education-cannot-wait-executive-director-yasmine-sherif-302254413.html

SOURCE Education Cannot Wait

Continue Reading

Technology

Niutech at the Forefront: U.S.-China Circular Economy Forum Tackles “White Pollution”

Published

on

By

BEIJING, Sept. 20, 2024 /PRNewswire/ — On September 6, 2024, the inaugural U.S.-China Circular Economy Cooperation Forum was held in Beijing. The forum, guided by the U.S.-China Climate Action Working Group Circular Economy Task Force, was co-organized by the China Circular Economy Association and the US-China Business Council. The forum brought together approximately 460 distinguished guests from the National Development and Reform Commission of China, the Ministry of Foreign Affairs, the Ministry of Industry and Information Technology, the Ministry of Ecology and Environment, the Ministry of Housing and Urban-Rural Development, the Ministry of Commerce, the General Administration of Market Regulation, the US State Department, the US Department of Energy and other government departments, as well as industry experts, business representatives and scientific research institutions of the two countries. As the domestic leader in continuous pyrolysis technology, Niutech was invited by the China Circular Economy Association to attend the forum and gave an insightful speech on the topic of waste plastic recycling, and the issues of ‘white pollution’ that can result from it.

Enhancing Quality and Efficiency in the Circular Economy with Innovative Forces

The forum was strategically designed to advance the goals outlined in the U.S.-China “The Sunnylands Statement on Enhancing Cooperation to Address the Climate Crisis” (hereinafter referred to as the Sunnylands Statement). It aimed to create a collaborative platform for the business community, social organizations, and research institutions from both countries to foster exchanges and drive tangible cooperation in the circular economy.  

Zhao Chenxin, Deputy Director of the National Development and Reform Commission, John Podesta, Senior Advisor to the U.S. President on International Climate Policy, Liu Zhenmin, China’s Special Envoy for Climate Change Affairs, Nicholas Burns, U.S. Ambassador to China, and Xie Zhenhua, former Special Envoy for Climate Change Affairs of China, attended the opening ceremony of the Forum and delivered a speech, and Xie Feng, Chinese Ambassador to the U.S., made a video message. Deputy Director Zhao Chenxin said that addressing climate change is a common cause for all mankind and cannot be separated from the cooperation between the two global forces, China and the United States.

The China-US Circular Economy Cooperation Forum, held as an initiative to implement the Sunnylands Statement, marked another significant milestone in China-US cooperation on the circular economy. This collaboration is crucial for both nations as they join forces to tackle the climate crisis. On the afternoon of September 6, the forum organized four parallel meetings, where representatives engaged in in-depth exchanges on topics such as using the recycling economy to reduce greenhouse gas emissions, promoting the application of recycled materials, addressing plastic pollution and enhancing recycling, and increasing the recycling value of waste in the context of new industries and consumption patterns.

Niutech: International Experts on Continuous Pyrolysis Technology and Pioneers in solving the global “white pollution” problem

Globally, hundreds of millions of tons of waste plastics are generated annually, yet only about 30% undergo recycling. Traditional physical methods are typically limited to high-value, single-category, and relatively clean waste plastics. However, repeated recycling can degrade the quality of the plastics. Chemical recycling, on the other hand, offers a transformative approach by converting waste plastics into high-value products or fuels through chemical processes, thus overcoming the limitations of physical recycling.

Pyrolysis technology, a cornerstone of chemical recycling, addresses the challenges associated with the material recycling of waste plastics. It is adept at processing various types of low-value, mixed, and contaminated waste plastics. The products of pyrolysis can be further processed to manufacture new plastics, achieving a closed-loop system where waste plastics are repurposed into high-value new plastics. This not only retains the material’s utility at a high level but also converts “white pollution” into a “white oil field,” signifying a major shift in the management and valorization of plastic waste.

At the forum, as the international expert in continuous pyrolysis technology, the corporate representative of Niutech shared the cases of waste plastic chemical recycling projects deployed with international giants BASF and Quantafuel in Denmark, Thailand and other countries. Niutech has developed its own pyrolysis technology and equipment, which they fully own the intellectual property rights to. This technology enables the transformation of low-value, mixed, and contaminated waste plastics—including various polymers such as PP, PE, PS, ABS—into high-quality fuel oil.  

The fuel oil derived from this process can undergo further refining into naphtha, a critical raw material in the production of new plastics. This advanced recycling process not only diverts plastics from landfills and the environment but also contributes to a circular economy by turning waste into a valuable resource.

In the future, Niutech will continue to champion the principle of “green, recycling and low-carbon” waste plastics pyrolysis. Armed with advanced technology, reliable equipment, abundant high-value solutions and proven experience, Niutech is committed to enhancing communication and cooperation with domestic and foreign partners. Together, they will drive forward the chemical recycling of waste plastics and the sustainable development of the global waste plastics recycling industry.

 

View original content to download multimedia:https://www.prnewswire.com/news-releases/niutech-at-the-forefront-us-china-circular-economy-forum-tackles-white-pollution-302254665.html

SOURCE Niutech

Continue Reading

Technology

Global Ultrasound Institute Launches GUSI Fellowships Platform: Elevating Point-of-Care Ultrasound Education

Published

on

By

SAN FRANCISCO, Sept. 20, 2024 /PRNewswire/ — The Global Ultrasound Institute (GUSI) is proud to announce the launch of the GUSI Fellowships Platform, an innovative online platform designed to empower learners around the world to achieve confidence and competency in point-of-care ultrasound (POCUS). With a holistic, device-independent approach that includes comprehensive evidence-based education, personalized mentorship from world-class POCUS educators, detailed scan review feedback, quantitative assessments, and CME certification, GUSI is setting a new standard in POCUS education.

“GUSI’s online didactics are the best that I have seen. And what I like most about the fellowship were the 1:1 sessions and being able to interact with GUSI expert faculty who have many years of experience in POCUS. And you get to pick their brains and they get to instruct you 1:1. I have used the training I received from GUSI to do much more POCUS clinically and further impact my patients lives.”

Dr. James Wilcox,
Assistant POCUS Director, Indiana University School of Medicine
Adjunct Professor and Assistant Professor of Medicine

“Our mission at GUSI is to democratize access to high-quality ultrasound training,” said Dr. Kevin Bergman and Dr. Mena Ramos, Co-CEOs of Global Ultrasound Institute. “The GUSI Fellowships Platform enables learners from diverse backgrounds to enhance their skills in a supportive, flexible environment, making it easier than ever to reach their POCUS goals.”

With training options covering 38 different scan types, learners can expect personalized 1:1 mentorship with expert POCUS educators who provide timely feedback on practice scans.

“The GUSI fellowship mentors are the best: patient, kind, knowledgeable, experienced, and supportive. GUSI provided education in the areas I wanted and needed to obtain and in my home/office environment not requiring multiple trips around the country. It is not just the way course work is presented – learning is made easier by the support provided to each student.”

Dr. Glenda Patterson
Core Faculty, University of Arkansas Northwest Internal Medicine Residency
Physician, Veterans Health Care of the Ozarks
Board-certified in Internal Medicine, Pulmonary Medicine, and Critical Care Medicine

The GUSI Fellowships Platform features a scalable software system designed to monitor and track performance, ensuring learners can effectively measure their progress.

GUSI understands the challenges faced by healthcare professionals seeking to enhance their ultrasound skills amid demanding schedules. GUSI addresses these concerns with flexible scheduling options, allowing learners to progress at their own pace while balancing their professional and personal commitments. This adaptability and virtual experience is crucial for fostering a culture of continuous learning and skill development.

“I went from not being able to hold the probe to someone who can scan and diagnosing and finding pathologies. I worked with Dr. Milne-Price and she was amazing! She sharpened my skills and we did sessions of live scanning over Zoom. I feel confident in my skills now to scan on my own.”

Dr. Dalea Al-Hawarri
Faculty, Bryn Mawr Family Medicine Residency

As healthcare continues to evolve, the demand for proficient ultrasound practitioners has never been greater. GUSI is not only committed to providing exceptional education but also aims to inspire a new generation of healthcare professionals who can leverage POCUS to improve patient outcomes globally. Join us in this exciting journey towards excellence in ultrasound practice.

For more information on GUSI Fellowships and to start your journey toward ultrasound proficiency, visit https://globalultrasoundinstitute.com/.

About Global Ultrasound Institute:

Global Ultrasound Institute stands at the forefront of point-of-care ultrasound, providing wraparound education, training, AI, and administrative software tools to healthcare providers and health systems globally to lower barriers to POCUS adoption and implementation. GUSI has trained over 14,000 healthcare practitioners in over 60 countries. GUSI is working to create a better world in which every healthcare practitioner is empowered to offer a rapid, reliable, accurate ultrasound-enabled diagnosis directly at the point-of-care, for any patient, anywhere.

For more information about GUSI Fellowships or any of GUSI services, please visit https://globalultrasoundinstitute.com/

Contact:

Dr. Kevin Bergman, Co-Founder, co-CEO, Global Ultrasound Institute
Dr. Mena Ramos, Co-Founder, co-CEO, Global Ultrasound Institute

View original content to download multimedia:https://www.prnewswire.com/news-releases/global-ultrasound-institute-launches-gusi-fellowships-platform-elevating-point-of-care-ultrasound-education-302254656.html

SOURCE GLOBAL ULTRASOUND INSTITUTE

Continue Reading

Trending