Utssav CZ Gold Jewels FY26 PAT rises 136%, margins expand 123 bps
Utssav CZ Gold Jewels Limited reported a 136% year-on-year rise in net profit to ₹59.06 crore for FY26, driven by a 78.7% increase in revenue to ₹1,154.90 crore. EBITDA grew 132.28% to ₹93.70 crore, with margins expanding. The board approved a wholly-owned subsidiary in the UAE and plans for capacity expansion up to 2.5 tonnes per annum.
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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.
| Metric | FY26 (₹ in Cr) | FY25 (₹ in Cr) | YoY Change |
|---|---|---|---|
| Revenue from Operations | 1,154.90 | 646.32 | ↑ 78.7% |
| Total Income | 1,157.46 | 647.67 | ↑ 78.71% |
| EBITDA | 93.70 | 40.34 | ↑ 132.28% |
| Net Profit | 59.06 | 25.06 | ↑ 136% |
| Diluted EPS (₹) | 23.95 | 11.63 | ↑ 105.93% |
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%.
| Metric | H2 FY26 (₹ in Cr) | H2 FY25 (₹ in Cr) | YoY Change |
|---|---|---|---|
| Total Income | 681.00 | 362.63 | ↑ 87.79% |
| EBITDA | 48.67 | 24.47 | ↑ 98.95% |
| PAT | 29.64 | 15.19 | ↑ 95.20% |
| Diluted EPS (₹) | 11.86 | 6.49 | ↑ 82.74% |
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.
Historical Stock Returns for Utssav CZ Gold Jewels
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.36% | +11.53% | +14.61% | +16.52% | +17.78% | +150.24% |
What is the expected timeline for the UAE subsidiary to become operational and contribute to revenue?
How will the proposed capacity expansion to 2.5 tonnes per annum be funded, and what is the projected capital expenditure?
What are the company's specific revenue targets for the new natural diamond and lab-grown product lines over the next fiscal year?
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