Divya Agarwal
Mumbai (Maharashtra) [India], May 25: Utssav CZ Gold Jewels Limited (Utssav, The Company), (NSE Code: UTSSAV), one of the leading manufacturers of 18K, 20K, and 22K CZ gold, plain gold, gold & diamond jewellery, has announced its audited Financial Results for H2 FY26 & FY26.
Key Financial Highlights H2 FY26 –
- Total Income of ₹ 681.00 Cr, YoY growth of 87.79%
- EBITDA of ₹ 48.67 Cr, YoY growth of 98.95%
- EBITDA Margin of 7.15%, YoY growth of 40 Bps
- PAT of ₹ 29.64 Cr, YoY growth of 95.20%
- PAT(%) of 4.35%, YoY growth of 17 Bps
- EPS of ₹ 11.86, YoY growth of 82.74%
Key Financial Highlights FY26 –
- Total Income of ₹ 1,157.46 Cr, YoY growth of 78.71%
- EBITDA of ₹ 93.70 Cr, YoY growth of 132.28%
- EBITDA Margin of 8.10%, YoY growth of 187 Bps
- PAT of ₹ 59.06 Cr, YoY growth of 135.67%
- PAT(%) of 5.10%, YoY growth of 123 Bps
- EPS of ₹ 23.95, YoY growth of 105.93%
Commenting on the Performance, Mr. Pankajkumar Jagawat, Managing Director of Utssav CZ Gold Jewels Limited, said, “We are pleased to deliver robust growth momentum during FY26, reporting revenue growth of 79% for FY26 and 88% in H2 FY26, driven by healthy festive and wedding season demand, repeat orders from existing customers, and the addition of 112 new clients.
During the year, we strengthened our product portfolio through a higher contribution from natural diamond jewellery and the introduction of new product lines in plain gold and lab-grown diamonds, which enhanced our product mix and realizations. Additionally, the incorporation of our wholly owned subsidiary in the UAE is expected to improve trade efficiencies and support our expanding global footprint.
Despite volatility in gold prices, we maintained strong operational momentum through our differentiated lightweight jewellery offerings, efficient inventory management, and customer-centric innovation approach.
As we move ahead, strong retailer relationships, expanding B2B reach, deeper market penetration, and integrated manufacturing and design capabilities will continue to strengthen scalability and execution capabilities. These consolidated efforts are expected to accelerate our growth trajectory and further strengthen our position in the evolving global jewellery landscape.”
Key H2 FY26 Operational Highlights
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Expands Global Presence with UAE Subsidiary Approval |
The Company has received Board approval to incorporate a wholly-owned subsidiary in Dubai, UAE, strengthening its international presence. |
About Utssav CZ Gold Jewels Limited
Utssav CZ Gold Jewels Limited (UGJL) designs and manufactures an extensive range of 18K, 20K, and 22K CZ gold jewellery with a strong focus on lightweight and rose gold casting. The company’s diverse portfolio spans rings, studs, earrings, necklaces, pendants, bracelets, watches, and brooches. In addition to CZ jewellery, UGJL has strategically diversified into plain casting jewellery in 22K, paper casting jewellery in 22K, as well as natural and lab-grown diamond jewellery in 18k, opening up new avenues for growth and strengthening its position in the evolving jewellery market.
Operating entirely on a B2B model, UGJL supplies directly to leading jewellery retailers across India, strengthening its position as a trusted partner in the domestic market. The company’s design capabilities are anchored by a team of more than 70 professionals, who create over 400 new designs each month, supported by a design library of more than 300,000 creations. With complete in-house manufacturing and zero outsourcing, UGJL ensures stringent quality standards. Its production capacity has grown from 750 kilograms in FY22 to 1.6 tons post-IPO, with plans to scale further to 2.5 tons per annum.
The company has established a strong presence across 17 states and 2 Union Territories in India, while also resuming exports to the UAE, enhancing its international footprint. UGJL has planned entry into GCC countries, Australia, and Singapore, aligning with its vision of becoming a global name in lightweight jewellery. Combining India’s rich tradition of gold craftsmanship with global design sensibilities, UGJL operates on a scalable business model that leverages deep retailer relationships, robust financial performance, and a clear roadmap for international expansion.
Listed on the NSE Emerge platform on 7th August 2024, UGJL reported revenues of ₹1157.46 Cr, an EBITDA of ₹93.70 Cr, and a net profit of ₹59.06 Cr in FY26, translating into an EPS of ₹23.95.
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