Tribhovandas Bhimji Zaveri Limited (TBZ) announced its unaudited financial results for the quarter and nine months ended December 31, 2025. For Q3 FY26, the company reported a 14.40% year-on-year increase in revenue from operations to ₹10,614.23 million. Profit After Tax (PAT) surged by 168.26% YoY to ₹817.67 million, with PAT margin improving to 7.70%.

This performance was driven by significant margin expansion. Gross Profit increased by 60.30% YoY to ₹1,854.95 million, with Gross Margin expanding by 500 basis points to 17.48%. EBITDA more than doubled, rising 118.16% YoY to ₹1,320.50 million, while EBITDA Margin expanded sharply by 592 basis points to 12.44%.

For the nine months ended December 2025 (9M FY26), Revenue from Operations grew 13.49% YoY to ₹23,732.57 million. PAT increased by 114.60% YoY to ₹1,334.11 million, with PAT Margin improving to 5.62%. EBITDA rose 76.92% YoY to ₹2,465.89 million, and EBITDA Margin expanded by 372 basis points to 10.39%.

The company highlighted that profitability growth has consistently outpaced topline expansion, indicating structural improvements. TBZ has repositioned its earnings trajectory, moving from mid-single-digit EBITDA margins in FY25 to double-digit EBITDA margins on a year-to-date basis in FY26. The management attributes this to a design-led product strategy, disciplined cost structure, and operating leverage from scale.

The Board of Directors meeting commenced at 2:30 p.m. and concluded at 3:35 p.m. on January 20, 2026, where these results were approved.