Tribhovandas Bhimji Zaveri Q4FY26: Revenue ₹830 cr

What the latest TBZ numbers show

Tribhovandas Bhimji Zaveri (TBZ) has reported a sharp sequential drop in revenue in the March 2026 quarter after a strong December 2025 quarter, while still showing a large year-on-year increase. The company’s quarterly disclosures also indicate a steady improvement in operating and net profit margins across the year, even as jewellery demand remains seasonal and quarter-sensitive. Separately, the company’s consolidated financial snapshot highlights a stronger return on equity for the year ended March 31, 2026.

The stock was cited at ₹272.10 (also referenced as ₹273) as of 05 Aug, 2026, 03:55 PM IST, keeping investor focus on how earnings stability and margins are tracking after the December quarter peak.

Q4FY26 revenue and profit: QoQ dip, YoY jump

For Q4FY26 (Mar 2026), TBZ reported revenue from operations of ₹829.70 crore. This compares with ₹1,061.42 crore in Q3FY26 (Dec 2025), translating into a 21.83% quarter-on-quarter decline. However, against ₹529.34 crore in Q4FY25 (Mar 2025), the March 2026 quarter shows a 56.74% year-on-year increase.

Profitability also cooled sequentially from the December quarter peak but remained far higher than the prior-year base. The quarterly result table shows Profit After Tax (PAT) of ₹67.08 crore in Mar 2026, down from ₹81.77 crore in Dec 2025, while significantly above ₹10.18 crore in Mar 2025.

Margin picture improved across the year

TBZ’s operating leverage is visible in the margin trend across the last five reported quarters shown in the dataset. In the table containing EBIT and margin metrics, EBIT margin moved from 5.76% (Mar 2025) to 13.5% (Mar 2026), despite a sequential moderation in absolute earnings versus the December quarter.

Similarly, net profit margin improved from 1.79% (Mar 2025) to 8.14% (Mar 2026). The December 2025 quarter appears to have been the strongest in absolute scale in this period, with higher total income and profit.

Q3FY25: sharp sequential jump highlighted earlier

For the quarter-ended December in Q3FY25, TBZ reported a strong surge in consolidated performance. Consolidated revenues were stated to have increased 63.4% QoQ and 25.1% YoY for that quarter. Expenses rose 61.0% QoQ and 24.3% YoY.

Net profit was reported to have increased 149.6% QoQ and 39.4% YoY, and the EPS stood at 4.5 in Q3FY25. These growth rates are presented as a snapshot of momentum during that period.

Corporate actions and shareholder metrics

The dataset notes that the company delivered ROE of 24.13% in the year ending Mar 31, 2026, above its 5-year average of 12.1% (based on consolidated financials). It also states that the company’s annual revenue growth of 22.3% outperformed its 3-year CAGR of 10.1%.

On dividends, TBZ is stated to have declared a dividend of ₹2.25 on 02 Sep, 2025.

Stock price and EPS references in the data

TBZ’s share price is referenced at ₹272.10 (and also shown as ₹273) as of 05 Aug, 2026. The dataset also lists EPS (TTM) at ₹30.05, and separately mentions a reported EPS of ₹30.32 (with no estimate provided alongside it).

These figures provide market participants with a quick snapshot of valuation and trailing earnings power as reflected in the source.

Quarterly financial snapshot (₹ crore)

The following table consolidates the quarterly numbers provided (all figures in ₹ crore; EPS in ₹):

Key datapoints at a glance

Q1FY26 performance snapshot (unit-normalised to ₹ crore)

TBZ’s Q1FY26 announcement in the dataset provides additional operating context, including profitability and margin details. Revenue from operations in Q1FY26 is stated as ₹6,240.07 million, which equals ₹624.01 crore. Gross profit of ₹1,008.43 million equals ₹100.84 crore, and EBITDA of ₹514.08 million equals ₹51.41 crore.

The release also states gross margin of 16.2% (up 176 bps YoY) and EBITDA margin of 8.2% (up 110 bps YoY). PAT in Q1FY26 is stated as ₹209.44 million, which equals ₹20.94 crore, with PAT margin at 3.4%, and EPS at ₹3.14.

Q1FY27 expectations cited by Uniresearch

The dataset includes a preview labelled as Uniresearch’s prediction for Q1 FY27, pegging revenue at ₹653 crore (+4.7% YoY) and PAT at ₹28 crore (+29.4% YoY), using Q1 FY26 actuals of ₹624 crore revenue and ₹22 crore PAT as the base. It also notes that the Q1 results date is not yet officially announced in that preview.

These are estimates rather than reported numbers, but they indicate what the referenced source expects versus the last comparable quarter.

Market impact and why investors track these quarters closely

For jewellery retailers, quarter-to-quarter performance can swing with wedding and festive demand, product mix, and the timing of campaigns. In TBZ’s numbers, the December 2025 quarter stands out for scale, while the March 2026 quarter shows a normalisation in revenue and profit on a sequential basis.

At the same time, the margins shown in the EBIT and net profit margin series suggest a broader improvement across the period from March 2025 to March 2026. For investors, that combination, strong YoY growth with volatile QoQ movement, is often assessed alongside return metrics like ROE and consistency in cost control.

Conclusion

TBZ’s reported dataset shows Q4FY26 revenue of ₹829.70 crore with PAT at about ₹67 crore, following a peak quarter in December 2025 and a substantial YoY increase versus March 2025. The broader set of figures also points to improved margins and a higher ROE for the year ended March 31, 2026. Near-term attention remains on the next set of quarterly results, including the Q1FY27 expectations cited by Uniresearch where an official date was not provided in the preview.