Utssav CZ Gold Jewels Reports 136% PAT Growth and PAT Margin Expansion of 123 Bps in FY26

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

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 7^th 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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