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Tribhovandas Bhimji Zaveri Ltd.

BSE: 534369 Sector: Consumer
NSE: TBZ ISIN Code: INE760L01018
BSE 00:00 | 17 Aug 73.80 1.60
(2.22%)
OPEN

73.15

HIGH

75.90

LOW

73.05

NSE 00:00 | 17 Aug 74.05 1.20
(1.65%)
OPEN

74.00

HIGH

76.25

LOW

72.75

OPEN 73.15
PREVIOUS CLOSE 72.20
VOLUME 28832
52-Week high 155.00
52-Week low 68.70
P/E 29.76
Mkt Cap.(Rs cr) 492
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00
OPEN 73.15
CLOSE 72.20
VOLUME 28832
52-Week high 155.00
52-Week low 68.70
P/E 29.76
Mkt Cap.(Rs cr) 492
Buy Price 0.00
Buy Qty 0.00
Sell Price 0.00
Sell Qty 0.00

Tribhovandas Bhimji Zaveri Ltd. (TBZ) - Chairman Speech

Company chairman speech

Dear Shareholders

It is my pleasure to present before you our Annual Report for FY 2017-18.

The year will be remembered for India's bold GST reform that has ushered in the era ofa unified market with the one- nation one-tax principle. This is a reform that hassignificant long-term benefits. The economy picked up growth as the effect ofdemonetisation faded with the GDP registering a growth of near 7%. Consumer and investorsentiment remained positive particularly in the latter half of the fiscal year.

TBZ - The Original has been one of the oldest brands not only in jewellery butamongst all other consumer brands in India. With a rich and rare legacy of over 154 yearsthe brand today is deeply embedded in the hearts of our customers. What has endured andendeared TBZ - The Original over five generations has been lasting trust. This trustemanates from value: a piece of jewellery purchased from TBZ - The Original is not justfashion beauty and aesthetics but also sound investment and lifelong asset. We havealways been at the forefront introducing many industry-first initiatives that havere-defined the industry. These include our pioneering lifetime buyback on gold and diamondjewellery certified solitaire diamonds as well as introducing 100% BIS hallmarkedjewellery. We were the first to offer lifetime guarantee for every single jewellery soldsomething that is a rarity even today.

It was a satisfactory year for the Company. The total operating revenue for the yearwas ' 175568.51 lakhs a significant rise of 3.4 per cent. The rise is significantconsidering various challenges like increasing price of gold depreciating Indian rupee aswell as disruptive operating environment. While the growth in top-line was significantthe improvement in our margin was much more impressive. EBIDTA for the year increased to '7309.87 lakhs from ' 7053.18 lakhs and PAT for the year was ' 2105.48 lakhs against '1674.22 lakhs in the previous year. This was achieved through a focus on driving cost-efficiency. Another key factor during the year was better inventory management whichresulted in finance cost declining by 20.9 per cent. Increase in sales of diamondjewellery manufactured in-house also contributed to margin improvement.

Looking ahead we shall continue with our expansion plan to increase our retailfootprint. Our growth strategy is to increase our footprint and widen our reach acrossTier 2 and Tier 3 cities through a mix of own-stores as well as franchisee stores. We alsocontinue to invest judiciously in marketing and brand building as we increase our presenceacross the country.

Even as we pursue an aggressive expansion strategy at the heart of our business modelis DELIVERING VALUE - to our shareholders as well as all other stakeholders.

Our consistent and relentless focus on DELIVERING VALUE has today brought us to aninflection point. We have the right combination of people and proposition design andbrand reach and presence that will propel our next phase of growth and expansion. As ayoung and confident India takes bigger strides into affluence and aspirations we areconvinced that this is just the beginning of a fruitful and rewarding journey. Thank youfor your continuous faith and trust in TBZ - The Original.

Yours sincerely

Shrikant Zaveri

Chairman & Managing Director