Tribhovandas Bhimji Zaveri Limited (TBZ) fair value: what the stock is really worth
As of Oct 1, 2026: fair value of Tribhovandas Bhimji Zaveri Limited ₹338, price ₹623, upside -45.8%, quality 59 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 2, 2026.
How to read this chart
60‑month range ₹49.20 – ₹692.45 · fair‑value band ₹226.84 – ₹491.45 · the ₹623.45 price screens above the ₹338.08 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 2, 2026.
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Tribhovandas Bhimji Zaveri Limited designs, manufactures, retails, and sells jewelry primarily in India. The company offers bangles, pendants, rings, necklaces, bracelets, earrings, coins, gold bars, and mangalsutras.
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Tribhovandas Bhimji Zaveri Limited designs, manufactures, retails, and sells jewelry primarily in India. The company offers bangles, pendants, rings, necklaces, bracelets, earrings, coins, gold bars, and mangalsutras. It also provides products in a various style, such as gold, diamond studded, precious and semi-precious stone studded, and plain and diamond studded platinum; lightweight and contemporary jewelry; temple jewelry; jewelry with colored stones studded in gold; loose diamonds; solitaires; loose precious and semi-precious stones; and jadau jewelry. In addition, the company is involved in franchise related business. It operates through stores and franchise stores. Tribhovandas Bhimji Zaveri Limited was founded in 1864 and is based in Mumbai, India.
Stock analysis
Tribhovandas Bhimji Zaveri Limited (TBZ) currently trades at ₹623.45, while our model-based Fair Value estimate is ₹338.08, 45.8% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of ₹671.78 per share, and 5 of the 17 models we run sit above the ₹623.45 price.
Bear case: the Asset-Based group reads lowest at ₹84.15, and 12 of the 17 models stay below the price. Evidence for this calculation is high.
Scenario range: ₹226.84 (bear) to ₹491.45 (bull), the price of ₹623.45 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 59/100 (solid quality), in the Consumer Cyclical sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Tribhovandas Bhimji Zaveri Limited reported revenue of ₹32.0B in FY2026 versus ₹18.4B in FY2022, a compound +14.8%/yr. Reported net income was ₹2.0B in FY2026, compounding +77.9%/yr from FY2022.
Key figures
Market cap ₹41.6B (≈ $432M) · P/E ratio 19.5 · P/S ratio 1.23 · EPS (TTM) ₹32.01 · Dividend yield 0.4% · Net margin 6.3% · Return on equity 27.1% · Return on assets (EBIT) 11.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 50 out of 100 (low confidence).
What moves the price
The share trades about 10% below its 52-week high and 463% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at −3% fair-value upside, at −46%, TBZ screens richer than that median.
Fair Value models
Bear ₹226.84Fair Value ₹338.08Bull ₹491.45
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2026 figures (about 6 months old). Earnings retained since then (₹14.96 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.62/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+22.0%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+10.2%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+19.0%
Start year 2021 (pandemic). Over 10 years: +6.8% a year
Revenue growth 20 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+14.2%
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What shareholders gained per year (last 5 years), in INR (mathematically smoothed) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+36.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year+36.1%
Dividend (yield on the price)0.4%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.56.7% vs 26.9%, picking up
Profit margin 2021 to 2026 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.8% → 10%
2026 sits 272% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
Compare Tribhovandas Bhimji Zaveri Limited with another stock
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Luxury Goods · 119 stocks
Beats the industry median on 7/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score59 · Above median
Fair Value upside−45.8% · Below median
Profitability
Return on equity (TTM)27.1% · Top 25%
Return on assets10.9% · Top 25%
Net margin (TTM)6.3% · Above median
Operating margin (TTM)7.6% · Above median
Growth and dividend
Revenue growth34.8% · Top 25%
Dividend yield (TTM)0.4% · Bottom 25%
Balance sheet
Debt / equity0.00× · Below median
Valuation Multiplesvs Luxury Goods median · lower = cheaper
P/E (TTM)19.5× · Pricier than median
P/B4.96× · Priciest 25%
P/S (TTM)1.22× · Pricier than median
EV/EBITDA10.6× · Pricier than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 15
FUTURE (revenue growth)100· sector 47
PAST (return on equity)100· sector 42
HEALTH (low debt)100· sector 99
DIVIDEND (yield)8· sector 55
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Is Tribhovandas Bhimji Zaveri Limited (TBZ) overvalued or undervalued?
As of Oct 2, 2026, our model estimates a fair value of ₹338.08 versus a price of ₹623.45, about −46% upside (overvalued).
What is the fair value of TBZ?
Our model-based fair value for Tribhovandas Bhimji Zaveri Limited is ₹338.08 (as of Oct 2, 2026), built from audited fundamentals. The current price: ₹623.45.
What is the quality score of TBZ?
Tribhovandas Bhimji Zaveri Limited has a Quality Score of 59/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Tribhovandas Bhimji Zaveri Limited (TBZ)?
Our model-based price target is the fair value of ₹338.08 (as of Oct 2, 2026) from 17 valuation models. Cautious scenario ₹226.84, optimistic scenario ₹491.45. It is a calculation from audited fundamentals, not an analyst target.
What is the Tribhovandas Bhimji Zaveri Limited stock forecast for 2026?
Our models put fair value at ₹338.08, about −46% upside versus a price of ₹623.45 (overvalued). Cautious scenario ₹226.84, optimistic scenario ₹491.45. The calculation is refreshed regularly with new filings.
What is the revenue of Tribhovandas Bhimji Zaveri Limited (TBZ)?
Tribhovandas Bhimji Zaveri Limited reported trailing-twelve-month revenue of about ₹34.2B (latest available figure, as of Oct 2, 2026).
Does Tribhovandas Bhimji Zaveri Limited pay a dividend?
Tribhovandas Bhimji Zaveri Limited currently shows a dividend yield of about 0.40% relative to its recent price (as of Oct 2, 2026).
What is the intrinsic value of Tribhovandas Bhimji Zaveri Limited (TBZ)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Tribhovandas Bhimji Zaveri Limited it is ₹338.08 per share (as of Oct 2, 2026), against a price of ₹623.45. It is the blended result of 17 valuation models (cash flow, earnings, asset, dividend).
Is Tribhovandas Bhimji Zaveri Limited stock overvalued or undervalued in 2026?
As of Oct 2, 2026, TBZ trades above its calculated fair value: price ₹623.45, fair value ₹338.08, a gap of about −46% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of TBZ?
No. The price is what the market pays today (₹623.45); the fair value is what the company's own numbers justify (₹338.08). For Tribhovandas Bhimji Zaveri Limited the two are ₹285.37 per share apart. That gap is exactly why we show both numbers side by side.
How much is Tribhovandas Bhimji Zaveri Limited worth?
The market values Tribhovandas Bhimji Zaveri Limited at about ₹41.6B (market capitalisation, as of Oct 2, 2026). Per share that is ₹623.45; our models calculate a fair value of ₹338.08 per share.
What do the bullish and bearish scenarios say about TBZ?
Our models span a range for Tribhovandas Bhimji Zaveri Limited: cautious scenario ₹226.84, base ₹338.08, optimistic ₹491.45 per share (as of Oct 2, 2026, price ₹623.45). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of TBZ?
Tribhovandas Bhimji Zaveri Limited trades at a price-to-earnings ratio of 19.5 (as of Oct 2, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹338.08 is built from several models across several years. Other multiples: P/B 5.0, P/S 1.2, EV/EBITDA 10.6.
How solid is the balance sheet of Tribhovandas Bhimji Zaveri Limited (TBZ)?
Balance-sheet figures for Tribhovandas Bhimji Zaveri Limited (as of Oct 2, 2026): return on equity 27.1%, debt of 0.00 per unit of equity. They feed the Quality Score of 59/100, which measures business quality independently of the share price.
How far is TBZ from its 52-week high?
Tribhovandas Bhimji Zaveri Limited trades at ₹623.45, about 10% below its 52-week high of ₹692.45 and 463% above the low of ₹110.75 (as of Oct 1, 2026). Distance from the high says nothing about value: that is what the fair value of ₹338.08 is for.
Which stocks are comparable to Tribhovandas Bhimji Zaveri Limited?
From the same area (Consumer Cyclical) we also value Compagnie Financière Richemont SA, Christian Dior SE, Kering SA, Tapestry, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Tribhovandas Bhimji Zaveri Limited stock attractive at the current price?
The data as of Oct 2, 2026: price ₹623.45, calculated fair value ₹338.08 (−46%), Quality Score 59/100, from 17 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of TBZ calculated?
We run Tribhovandas Bhimji Zaveri Limited through 17 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ₹338.08, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. Tribhovandas Bhimji Zaveri Limited itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Tribhovandas Bhimji Zaveri Limited (TBZ)?
The closing price on Oct 1, 2026 was ₹623.45. Our model-based fair value is ₹338.08, about −46% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Tribhovandas Bhimji Zaveri Limited right now?
The price sits above even our optimistic bull case (₹491.45). The favourable scenario is already priced in. Solid but not exceptional quality (59/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (₹226.84 to ₹491.45) leaves room in how you read the outcome.
Where does the earnings growth of Tribhovandas Bhimji Zaveri Limited (TBZ) come from?
Earnings per share at Tribhovandas Bhimji Zaveri Limited grew +21.6 % a year from 2015 to 2026. Broken into its drivers: revenue per share +4.6 %, EBIT margin +24.2 %, tax rate −0.1 %, residual (interest, one-offs) −6.2 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of Tribhovandas Bhimji Zaveri Limited
How large is the market capitalisation of Tribhovandas Bhimji Zaveri Limited (TBZ)?
The market capitalisation of Tribhovandas Bhimji Zaveri Limited is ₹41.6B (≈ $432M). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Tribhovandas Bhimji Zaveri Limited (TBZ)?
The price-to-sales ratio of Tribhovandas Bhimji Zaveri Limited is 1.23 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Tribhovandas Bhimji Zaveri Limited (TBZ)?
Earnings per share at Tribhovandas Bhimji Zaveri Limited are ₹32.01 (price ÷ EPS = P/E 19.5). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Tribhovandas Bhimji Zaveri Limited (TBZ)?
The dividend yield of Tribhovandas Bhimji Zaveri Limited is 0.4% (payout 7.8%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Tribhovandas Bhimji Zaveri Limited (TBZ)?
The net margin of Tribhovandas Bhimji Zaveri Limited is 6.3% (fiscal year 2026). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Tribhovandas Bhimji Zaveri Limited (TBZ)?
The return on equity (ROE) of Tribhovandas Bhimji Zaveri Limited is 27.1% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Tribhovandas Bhimji Zaveri Limited (TBZ)?
On an EBIT basis the return on assets of Tribhovandas Bhimji Zaveri Limited is 11.1% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Tribhovandas Bhimji Zaveri Limited (TBZ)?
The operating margin of Tribhovandas Bhimji Zaveri Limited is 7.6% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Tribhovandas Bhimji Zaveri Limited (TBZ)?
Revenue at Tribhovandas Bhimji Zaveri Limited is growing +34.8% versus a year earlier (3y avg +10.2%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Tribhovandas Bhimji Zaveri Limited (TBZ)?
Earnings per share at Tribhovandas Bhimji Zaveri Limited are growing +61.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Tribhovandas Bhimji Zaveri Limited (TBZ) generate?
The free cash flow of Tribhovandas Bhimji Zaveri Limited is −₹473M (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Tribhovandas Bhimji Zaveri Limited (TBZ) carry?
The net debt of Tribhovandas Bhimji Zaveri Limited is ₹7.8B (fiscal year 2026). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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