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TBZ Ltd. achieves 32% EBITDA increase and 63% PBT growth in Q1FY25; Unveils new Jaipur Store

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MUMBAI, India, Aug. 5, 2024 /PRNewswire/ — Tribhovandas Bhimji Zaveri Limited (TBZ Ltd.), India’s premier and trusted jewellery retailer with a legacy spanning 160 years, announces an exceptional financial performance for the first quarter of FY25. The Company reports significant improvements in key profitability metrics, driven by effective operational strategies and market expansion efforts.

Exceptional Financial Performance:

TBZ Ltd. has recorded a substantial increase in Profit Before Tax (PBT) in Q1 FY25, reaching ₹248.16 million, a 63.39% rise from ₹151.88 million in Q1 FY24. Profit After Tax (PAT) also saw impressive growth, climbing 61.98% to Rs. 184.68 million from ₹114.01 million. Earnings Per Share (EPS) surged by 61.99% to ₹2.77, compared to ₹1.71 in the previous year’s first quarter. Gross profit increased by 8.55%, totalling ₹858.84 million from ₹791.22 million in Q1 FY24, with a gross margin improvement of 54 basis points to 14.40%. Additionally, the PAT margin improved by 110 basis points to 3.10.

Over the last three years, TBZ Ltd.’s Q1 EBITDA and EBITDA margin have shown steady and persistent improvements. In Q1 FY23, the EBITDA was ₹186.72 million with a margin of 3.22%. By Q1 FY24, these figures had increased to ₹322.24 million and a margin of 5.65%. The upward trend has continued in Q1 FY25, with the Company’s EBITDA growing year-on-year by 32.19% to ₹425.96 million, reflecting strong operational efficiency, and the EBITDA margin improving by 150 basis points to 7.14%. This consistent growth in EBITDA highlights the Company’s ongoing  operational strategies and focus on enhancing profitability while growing sales.

“Our Q1FY25 results clearly demonstrate our ongoing commitment to operational excellence, which has been instrumental in driving this significant PBT growth,” stated Mr. Srikant Zaveri, Chairman of TBZ Ltd. “Key performance indicators such as administrative and sales cost control, inventory turnover, and capital efficiency have been central to improving our operational metrics, directly impacting our bottom line. Our ongoing strategic initiatives, particularly in optimizing these areas, continue to prove effective, contributing to our strong financial performance. There is always room for further improvements, and we are determined to continue pursuing these goals.”

Summary Table

(Standalone Figures)

                  (Rs. In Millions)

Particulars

Q1 FY 25

Q1 FY 24

% Change

Revenue from Operations

₹5,962.43

₹5,708.16

4.45 %

Gross Profit

₹858.84

₹791.22

8.55 %

Gross Margin

14.40 %

13.86 %

54 bps

EBITDA

₹425.96

₹322.24

32.19 %

EBITDA Margin

7.14 %

5.65 %

150 bps

Profit Before Tax (PBT)

₹248.16

₹151.88

63.39 %

Profit After Tax (PAT)

₹184.68

₹114.01

61.98 %

PAT Margin

3.10 %

2.00 %

110 bps

EPS

₹2.77

₹1.71

61.99

 

Market Demand and Sales Strategies

TBZ Ltd. achieved revenue from operations of ₹5,962.43 million, representing a 4.45% increase from ₹5,708.16 million in Q1FY24. This steady growth reflects resilient and consistent sales performance, supported by a healthy and improving product mix that has contributed to better margins. The Company’s strategic focus on high-margin products and profitable growth has led to improved profitability. TBZ Ltd.’s gross profit increased by 8.55%, showcasing the effectiveness of its margin-focused strategies. The Company is no longer pressured into low-margin sales, instead prioritizing margin growth and overall profitability.

TBZ Ltd. continues to enjoy strong goodwill and brand appreciation, not only among traditional buyers but also among new customers. This wider market acceptance is a testament to the Company’s ability to meet evolving customer preferences while maintaining its legacy of quality and craftsmanship. Embracing technological advancements and innovative marketing strategies, TBZ Ltd. enhances customer engagement and experience. The opening of the Jaipur store is part of a broader strategy to strengthen market presence through strategic franchise partnerships and digital transformation initiatives.

Mr. Mukesh Sharma, CFO of TBZ Ltd., commented, “Our Q1FY25 performance highlights the successful ongoing execution of our strategic initiatives aimed at margin growth and profitability. The 4.45% increase in revenue from operations to ₹5,962.43 million and the 8.55% rise in gross profit to ₹858.84 million demonstrate our effective sales strategies and robust product mix. As always, we have focused on high-margin products, which has significantly improved our bottom line. Additionally, the recent reduction in custom duty on gold and silver is a positive development that will lower our input costs and further enhance our profitability. We are excited about the future and remain committed to delivering exceptional value to our shareholders through continuous innovation and market adaptation.”

Opening 34th store and 4th Franchise store at Jaipur, Rajasthan

TBZ Ltd. has strategically expanded its footprint through its franchise model while remaining steadfast in its commitment to quality over quantity. The newly inaugurated Jaipur store exemplifies this philosophy, strategically located to capitalize on a market rich in cultural heritage and commercial potential. This approach underscores TBZ Ltd.’s proactive strategy of thoughtful and sustainable growth, ensuring each new venture not only contributes to the Company’s bottom line but also strengthens its commitment to delivering unparalleled quality and customer satisfaction.

“Opening our new franchise in Jaipur is a cornerstone of our strategic expansion, and it epitomizes our commitment to growth that doesn’t compromise on the standards of excellence and customer service TBZ Ltd. is renowned for,” stated Ms. Binaisha Zaveri, Director of TBZ Ltd. “This new establishment is not merely a store, but a beacon of our legacy in a city that reveres the art of jewellery. It’s a strategic move that ensures our presence in key markets while upholding our ethos of quality and customer-centricity. We are not just opening doors in new locations; we are crafting unique experiences and forging enduring relationships with our patrons.”

About Tribhovandas Bhimji Zaveri Limited:

Tribhovandas Bhimji Zaveri Limited is India’s renowned and trusted jewellery retailer with more than 160 years of legacy. The Company began its journey in 1864, opening its flagship store in Zaveri Bazar, Mumbai. Over the years, the Company has established itself as a preferred choice for customers in the wedding jewellery segment, recognized for exquisite gold and diamond jewellery designs. It has led from the front in an otherwise largely unorganized Indian jewellery industry, displaying high quality and transparency standards over the last 160 years, being the first jeweller to offer a buyback guarantee on jewellery and introduce 100% per-hallmarked jewellery in India. The Company transformed from a one-store family-owned business in 1864 to a professional organization spearheaded by the 5th generation, expanding its presence and reach across India with 34 stores in 26 cities.

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Simply announces compatibility with AI glasses from Meta

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NEW YORK, April 29, 2026 /PRNewswire/ — Simply, the creative hobbies leader behind the market leading apps Simply Piano, Simply Guitar, Simply Sing, and Simply Draw, today announced compatibility with AI glasses from Meta.

 

The launch signals Simply’s next leap – from mobile and augmented reality into AI glasses – as part of its long–term vision to build a fully multimodal AI platform that connects physical creativity, digital experiences, and wearable interfaces.

After pioneering music learning through augmented reality with Simply Piano for Apple Vision Pro and Simply Piano for Android XR, Simply is now expanding its creative hobbies ecosystem into AI–powered wearables. The new integration with Simply Draw and AI glasses from Meta lets learners capture their drawing process in real time, generating AI–enhanced timelapses and shareable creative assets that showcase their creation. 

“This is an exciting step toward a new era for creativity,” said Yuval Kaminka, CEO and Co–Founder of Simply. “We believe that the way we experience the arts, learning, playing and creative expression at home will become fully contextual. AI glasses allow us to move closer to a true AI creative companion – a multimodal AI, one that understands what you’re doing and supports you in the moment.”

“AI glasses are becoming a natural extension of how we learn and create,” added Eliran Douenias, Head of Product Innovation at Simply. “Our products already enable immersive and virtual experiences with XR and spatial computing, now we’re adding AI glasses from Meta as the next interface – and it’s just the first of an exciting roadmap ahead.”

“Simply’s early move into the AI glasses space puts us ahead of the curve and positions us to lead in how wearables – specifically AI glasses – become part of everyday creative life,” said Douenias.

With this launch, Simply is expanding its platform for the AI era. The new compatibility with AI glasses from Meta enhances how learners see, capture, and share their creative process, with many more experiences to follow.

About Simply

Simply is the world’s leading AI creativity platform redefining how people learn and express themselves through music, arts, crafts, and more. Its award–winning apps – Simply Piano, Simply Guitar, Simply Sing, and Simply Draw – have empowered millions globally to pick up and develop fulfilling creative hobbies that last.

Contact info: eliran@hellosimply.com

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Levine Leichtman Capital Partners Hires James Smith as Managing Director

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LONDON, April 29, 2026 /PRNewswire/ — Levine Leichtman Capital Partners (“LLCP”) announced today that James Smith has joined the Firm as a Managing Director in the Investment Management group. James will be based in LLCP’s London office.

Josh Kaufman, Head of Europe at LLCP, said, “We are thrilled to welcome James to LLCP. James adds valuable experience to the team within our core Business Services sector vertical. We look forward to the impact he will have as our European business and team continues to grow.”

James joins LLCP from Advent International where he was a senior member of the European Business & Financial Services team and participated in numerous successful transactions over his 12-year tenure. Prior to Advent, James worked at Bain & Company. James’ full biography can be found at https://www.llcp.com/team

About Levine Leichtman Capital Partners

Levine Leichtman Capital Partners, LLC is a middle-market private equity firm with a 42-year track record of investing across various targeted sectors, including Business Services, Franchising & Multi-unit, Education & Training and Engineered Products & Manufacturing. LLCP utilizes a differentiated Structured Private Equity investment strategy, combining debt and equity capital investments in portfolio companies. LLCP believes that by investing in a combination of debt and equity securities, it offers management teams growth capital in a highly tailored, flexible investment structure that can be a more attractive alternative than traditional private equity.

LLCP’s global team of dedicated investment professionals is led by 9 partners who have worked at LLCP for an average of 20 years. Since inception, LLCP and its affiliates have managed approximately $18.5 billion of capital across nearly 20 investment funds and has invested in approximately 120 portfolio companies. LLCP currently manages $12.6 billion of assets and has offices in Los Angeles, New York, Chicago, Miami, London, Stockholm, Amsterdam and Frankfurt.

Media Contact: Isabel Moon, imoon@llcp.com

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Appian Advances AI in Process to Deliver Enterprise Outcomes at Scale

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New capabilities in agentic automation and AI-assisted spec-driven development transform complex work.

ORLANDO, Fla., April 29, 2026 /PRNewswire/ — Appian [Nasdaq: APPN] today announced enhancements to the Appian Platform, including AI-assisted spec-driven development and Model Context Protocol (MCP) integration for agents. By anchoring AI within processes, Appian eliminates the primary hurdles to AI value: fragmented data, and a lack of reliability and control. Process models provide the structure needed to deliver results safely, and at scale.

Advancements in AI agents enable more intelligent, coordinated work

AI agents in Appian are smarter, safer and more effective because they have better structure, context and guardrails. Appian is enhancing interoperability across its AI ecosystem. By adopting powerful standards like Model Context Protocol (MCP), Appian agents will be able to interface securely with external enterprise systems. Third party AI agents will have access to powerful Appian tools like data fabric which uniquely provides unified read-write access to enterprise data.

Appian is also advancing agent learning by providing users the ability to track agent performance, and then apply an agent’s memory across processes to improve decision making. Users will soon be able to expand on this by giving AI guidance on what objectives to optimize against and recommend improvements that can be applied safely.

Customer value

Global Excel Management, a worldwide healthcare risk management provider, uses Appian to transform claims processes with AI.

“As part of our digital transformation we are evolving our claims processes by transitioning from fragmented workflows to an enhanced level of operations using technological advancements enabled with AI features,” said Pascal Tanguay, SVP, Global Technology Services, Global Excel Management. “With Appian, our processes will be unified. From initial intake to adjudication, our advanced technology will reduce redundant tasks and lessen complexity for our team members. This ensures that our claims processes are consistent and completed more efficiently and accurately.”

Context gives agents a common vocabulary for business data

To support advanced agent capabilities, Appian is augmenting its industry-leading data fabric. Appian’s data fabric has been enhanced to provide a unified metadata model that gives agents clearer context about how information is structured and connected across systems.

Furthering its commitment to supporting industry-leading data platforms, Appian is launching a technology partnership with Snowflake. This unites Appian as the AI orchestration layer with Snowflake’s AI Data Cloud, combining data aggregation, model training, and process orchestration to enable immediate business value. Direct MCP-enabled integration between Appian data fabric and Snowflake equips agents with deep enterprise context, and allows them to interact directly with Snowflake Cortex AI to drive intelligent, data-backed decisions.

“Enterprises don’t need more AI experiments, they need AI that delivers real business outcomes on governed data,” said Baris Gultekin, Vice President of AI, Snowflake. “By combining Appian’s process orchestration and data fabric with the Snowflake AI Data Cloud, we’re bringing intelligence directly into the flow of work. Together, we enable secure, enterprise-grade AI where agents can access trusted data through Cortex AI, act with context, and drive measurable impact across the business.”

AI-assisted spec-driven development

AI-assisted development has revolutionized coding, but mission-critical work needs more than fast, cheap code. Appian puts structure around AI-assisted development. Without that structure, AI-generated code can introduce compliance issues and technical debt instead of business value.

Appian is introducing AI-assisted spec-driven development. AI extracts rich specifications from legacy applications to create a clear visual plan. This plan helps visualize the UI, data models and process flows for rapid and iterative operational improvements. AI developer agents, operating under human supervision, complete tasks according to specifications, accelerating delivery and reducing rework.

New developer MCP servers will allow organizations to use their choice of AI development tools, such as Claude Code or Kiro to build and update Appian applications. Appian will support a wide range of AI models, enabling teams to work in the environments they prefer.

Together, these enhancements will deliver the speed and developer productivity of AI-assisted development, with enterprise-grade control.

“Appian Composer, Agents and Appian MCP servers enable trusted agentic process orchestration and application modernization,” said Mike Beckley, Chief Technology Officer and Founder of Appian. “Composer complements Appian’s agentic orchestration and data fabric with new spec-driven development tools that are both conversational and iterative. Beneath the covers, Appian Composer is built on Appian’s new open MCP – a model-driven representation of your complete application estate—requirements, apps, data entities, logic, workflows, security/governance rules, integrations, and multi-object dependencies—now exposed as context for developers and agents to safely evolve and optimize.”

The advancements announced today were unveiled at Appian World 2026 and will be available in coming releases. Learn more at www.appian.com

About Appian

Appian provides process automation technology. We automate complex processes in large enterprises and governments. Our platform is known for its unique reliability and scale. We’ve been automating processes for 25 years and understand enterprise operations like no one else. For more information, visit appian.com. [Nasdaq: APPN]

Follow Appian: LinkedIn, Youtube, Instagram, Facebook, and X.

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