TBZ Q2 PAT falls 49.7% as margins shrink; GRT acquisition advances
TBZ · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
On the reaction day the stock moved 5.4 pts less than Nifty Microcap 250 and 5.3 pts less than its Gems Jewellery And Watches peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Standalone Q2 revenue was Rs 7,053.53 million, up 2.5% year on year, but PAT fell 49.7% to Rs 154.30 million as gross margin dropped to 14.2% from 16.9%. H1 revenue rose 17.9% to Rs 15,463.27 million and EBITDA rose 3.1%, while PAT slipped 6.5%. Operating cash flow was negative. GRT's proposed 74.12% purchase received approval from India's competition regulator; a public shareholder offer for 25.88% at Rs 249.61 per share is still conditional.
Lower margins and negative operating cash flow are concerns, but H1 growth and the GRT deal may support the stock. Completion needs approvals.