Utssav CZ Gold Jewels Limited has confirmed that its promoters and promoter group have not created any encumbrance on their shareholdings during the financial year ended March 31, 2026. The disclosure, filed with the National Stock Exchange of India Limited, ensures that the 1,69,76,800 equity shares held by the group as of March 31, 2026, remain free from charges such as pledges or hypothecation. This compliance with Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, provides transparency regarding the promoters' holding structure.

Pankajkumar Hastimal Jagawat, a promoter of the company, submitted the declaration on behalf of the promoter and promoter group members. The filing detailed the specific shareholding distribution among the group members, categorizing them as either promoters or promoter group members. The total holding reflects the collective stake of the group in the company without any reduction due to encumbrance activities during the period under review.

The following table outlines the shareholding distribution within the promoter and promoter group as declared in the filing:

The declaration was addressed to the Manager of the Listing Department at the NSE SME Exchange and the company's Audit Committee. The document serves as a formal confirmation that the promoters have maintained their holdings without leveraging them for financial obligations during FY26. The absence of encumbrance is a key indicator of the promoters' financial commitment and stability regarding their investment in the entity.

Utssav CZ Gold Jewels Limited reported a 136% year-on-year rise in net profit to ₹59.06 crore for the financial year ended March 31, 2026, driven by robust revenue growth and operational efficiency. The profit after tax (PAT) margin expanded by 123 basis points to 5.10%. Revenue from operations increased 78.7% to ₹1,154.90 crore from ₹646.32 crore in FY25. The board approved the audited financial results and the incorporation of a wholly-owned subsidiary in the UAE to strengthen its presence in the Dubai jewellery market.

The company’s EBITDA for FY26 stood at ₹93.70 crore, a 132.28% increase from the previous year, with the EBITDA margin expanding 187 basis points to 8.10%. The diluted earnings per share (EPS) for FY26 was ₹23.95. Pankajkumar Jagawat, Managing Director, attributed the performance to healthy festive and wedding season demand, repeat orders from existing customers, and the addition of 112 new clients. He also highlighted the strengthening of the product portfolio through natural diamond jewellery and new product lines in plain gold and lab-grown diamonds.

Financial Performance

Total income for FY26 stood at ₹1,157.46 crore, compared to ₹647.67 crore in the previous year. Total expenses for the year rose to ₹1,077.67 crore from ₹614.64 crore in FY25. The company delivered an exceptional performance during H2 FY26, with revenue from operations rising 87.8% year-on-year to ₹679.49 crore and profit after tax increasing 95.2% to ₹29.64 crore.

H2 FY26 Performance

Revenue from operations for H2 FY26 stood at ₹679.49 crore as against ₹361.79 crore in H2 FY25. Profit after tax for H2 FY26 increased to ₹29.64 crore compared to ₹15.19 crore in the corresponding period of the previous year. The EBITDA for H2 FY26 was ₹48.67 crore, up 98.95% year-on-year, with a margin of 7.15%.

Strategic Developments

The company received Board approval to incorporate a wholly-owned subsidiary in Dubai, UAE, to strengthen its international presence. Utssav CZ Gold Jewels Limited is evaluating significant capacity expansion plans targeting production scale-up up to 2.5 tonnes per annum. The company operates on a B2B model, supplying directly to leading jewellery retailers across India, and has resumed exports to the UAE.