Varvara Dmitrieva: The jewelry industry of Yakutia is distinguished by its creativity, unique cultural code and conservation of traditions

Varvara Dmitrieva, Associate Professor and Head of the Department of Precious Stones and Metals Processing Technologies of the North-Eastern Federal University, told Rough&Polished about the results of the Forum of jewelry Craftsmanship and the prospects...


Valery Budny: There is no strategy and legislation in Russia enabling the full cycle processing of precious raw materials within the country

Valery Budny, Head of the Jewelry Russia program and CEO of the JUNWEX media holding, told Rough&Polished about the results of the meeting and pressing issues in the precious metals and precious stones (PMPS) and the jewelry sectors.

11 april 2024

Paul Zimnisky: Natural diamonds face the risk of eroding their appeal if constantly discounted

New York-based independent diamond and jewellery analyst and consultant Paul Zimnisky told Rough & Polished’s Mathew Nyaungwa in an exclusive interview that the industry should do away with discounts. He said the industry should treat natural diamonds...

01 april 2024

Edahn Golan: Lab-grown diamond prices to continue declining

In an exclusive interview with Rough&Polished's Mathew Nyaungwa, Edahn Golan, proprietor of the eponymous Edahn Golan Diamond Research and Data, predicted that the prices of lab-grown diamonds would continue to decline, especially at the retail and...

25 march 2024

ADPA’s Ellah Muchemwa: G7 restrictions to bring extra costs from diamond mining to retail

The African Diamond Producers Association (ADPA), which has openly registered its disdain for the G7’s rough diamond trade restrictions, is of the opinion that the move will bring extra costs on all stages, from mining to retail. ADPA executive...

18 march 2024

ICRA rates TBZ and awards a stable outlook for long- term

29 august 2023

ICRA, a leading credit rating agency, has awarded Indian company Tribhovandas Bhimji Zaveri Limited (TBZ) a consolidated "Issuer Rating" of [ICRA] A- (Stable). This assignment leans heavily on the company's established reputation in the jewellery retail sector, built over the years by the promoters' industry know-how.

TBZ's financial steadiness, marked by its conservative capital approach, also played a significant role. Over recent years, TBZ's capital structure has seen a marked improvement due to substantial additions to its reserves and a lesser reliance on external borrowing.

The rating rationale highlights TBZ's robust financial stance, underscored by its absence of long-term debts. The majority of the company's liabilities stem from working capital borrowings. TBZ's financial metrics show potential for further enhancement, driven by robust demand and growth in revenues and profits. Emphasized in the rationale is TBZ's impressive 30% YoY revenue growth and the doubling of its profit after tax (PAT) in FY2023.

Shrikant Zaveri, Chairman & Managing Director, TBZ said: "ICRA's Stable outlook for TBZ's long-term rating underscores expectations that the company will continue to benefit from favourable market conditions, its strong market position, and a substantial share of studded jewellery in its revenue mix."

Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough & Polished