Low PE High ROCE Jewellery Stock Reports Strong FY26 Results; PAT Jumps 136% YoY

On Tuesday, the Indian equity benchmarks traded lower during the afternoon session, with the benchmark Nifty 50 index declining 0.49 per cent to 23,914.10. Jewellery and retail stocks remained in focus following quarterly earnings announcements and expansion plans. In this segment, shares of Utssav CZ Gold Jewels Ltd declined 1.62 per cent to Rs 285.50 despite the company reporting strong FY26 financial performance.

Utssav CZ Gold FY26 Performance

Utssav CZ Gold Jewels Limited reported revenue from operations of Rs 1,154.90 crore during FY26 compared to Rs 646.32 crore reported in FY25, registering a strong growth of around 78.7 per cent YoY.

Net profit for FY26 stood at Rs 59.06 crore as against Rs 25.06 crore reported in FY25, reflecting a sharp rise of around 135.7 per cent YoY.

Profit before Tax (PBT) during FY26 came in at Rs 79.78 crore compared to Rs 33.03 crore reported in the previous financial year. Weighted average earnings per share (EPS) for FY26 stood at Rs 24.60 per share.

H2FY26 Performance

The company also reported strong performance during H2FY26. Revenue from operations during H2FY26 stood at Rs 679.49 crore compared to Rs 361.79 crore reported in H2FY25, registering a growth of around 87.8 per cent YoY.

Profit after tax during H2FY26 increased to Rs 29.64 crore as against Rs 15.19 crore reported in the corresponding period previous year, reflecting a growth of around 95.2 per cent YoY. Profit before tax during H2FY26 stood at Rs 40.76 crore compared to Rs 19.65 crore reported in H2FY25.

UAE Expansion And Capacity Growth Plans

During FY26, the company continued strengthening its growth and international expansion strategy.

The Board approved incorporation of a wholly owned subsidiary in the UAE to strengthen the company’s presence in the Dubai jewellery market.

Utssav CZ Gold Jewels also stated that it is evaluating significant capacity expansion plans targeting production scale-up up to 2.5 tonnes.

The company further continued investor engagement activities through virtual investor summits and strategic business discussions.

Management Commentary

Commenting on the performance, Pankajkumar Jagawat, Managing Director, Utssav CZ Gold Jewels Ltd, said: “We are pleased with our strong financial and operational performance, which reflects the growing trust of customers and the strength of our business model.”

He further added, “Going forward, Utssav Gold aims to accelerate expansion through strategic store additions, enhanced product innovation, and deeper market penetration across existing and new geographies.”

About Utssav CZ Gold Jewels

Established in 2007, Utssav CZ Gold Jewels Ltd is engaged in designing, manufacturing, wholesaling and exporting gold and diamond jewellery products.

The company offers jewellery across 18K, 20K and 22K categories including rings, earrings, pendants, bracelets, necklaces and watches. It has also diversified into lab-grown and natural diamond jewellery segments.

The company operates a fully integrated in-house manufacturing setup covering the entire jewellery value chain from wax replicas to hallmarking and currently operates with an installed production capacity of 2,000 kg per annum.The stock is currently trading at a PE of 11.9, while delivering a strong Return on Capital Employed (ROCE) of 28.8 per cent.

What are your views on Utssav CZ Gold Jewels’ strong FY26 performance and UAE expansion plans? Share your thoughts in the comments below.
Disclaimer: This article is for informational purposes only and not investment advice.