Utssav CZ Gold Jewels Q4 FY26 Share Price & Earnings Call Analysis
- Market cap
- ₹2,296 Cr
- P/E
- 38.89
- ROE
- 36.38%
- PEG
- 0.35
- Price to sales
- 1.99
- Debt to equity
- 0.94
- 52W high / low
- ₹1,020 / ₹179
- Sales growth (5Y)
- 57.22%
- EBITDA margin
- 7.89%
- Net profit margin
- 5.11%
- Promoter holding
- 72.55%
- Sales (last year)
- ₹1,155 Cr
Incorporated in 2007, Utssav CZ Gold Jewels Ltd in the business of Jewellery made of precious metals and semiprecious stones[1]
Guidance scorecard · Q4 FY26 call
What Utssav CZ Gold's management guided
and where it ranks in Consumer Durables
Consumer Durables
RevenueQ4 FY26 call
40%+- The company targets around 60% revenue growth for FY27.
- Volume growth guidance is approximately 35% to 40% for FY27.
- Price growth is assumed to be around 15% to 20%.
- Long-term revenue target is INR 4,000 to 5,000 crores by FY30.
- Continued onboarding of new customers with over 100-200 new clients expected this year.
- Expansion into international markets like UAE, GCC, Singapore, Malaysia, and Australia.
- Increasing contribution from high-margin products such as natural diamond and lab-grown diamond jewellery.
2 more points from Utssav CZ Gold's call on revenue
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MarginsQ4 FY26 call
FlatSee what Utssav CZ Gold said on margins — free account, 30 seconds.
CapexQ4 FY26 call
Planned- The company plans a capex of around INR 50 crores for the current year.
- This investment is aimed at expanding manufacturing capabilities, including acquiring more buildings to increase capacity from the current 2,500 kg to around 6 to 7 tons per year.
- They are expanding production infrastructure supported by automation and technology upgrades.
- A new building of around 20,000 to 25,000 square feet is being sought to support growth.
- The establishment of a wholly owned subsidiary in the UAE (Dubai) is a strategic move for international expansion to strengthen export coordination and global market penetration.
2 more points from Utssav CZ Gold's call on capex
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FundraisingQ4 FY26 call
PlannedSee what Utssav CZ Gold said on fundraising — free account, 30 seconds.
Order bookQ4 FY26 call
- Management highlighted strong demand visibility driven by festive and wedding seasons.
- The company onboarded 112 new clients during FY26, significantly expanding its retailer network and market presence.
- They expect continued growth with approximately 60% revenue growth guidance for FY27.
- New product lines like plain gold jewelry, natural diamond, and lab-grown diamond jewelry are increasing order inflow.
- The company is expanding capacity with new buildings to meet rising demand, planning to increase capacity from 2.5 tons to around 6-7 tons annually.
2 more points from Utssav CZ Gold's call on the order book
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Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.
Potential multibaggers · Q2 FY27
Potential multibaggers in Consumer Durables
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
Peers
Consumer Durables companies ranked on guidance
| # | Company | Revenue guided | Margin guided | Market cap | P/E |
|---|---|---|---|---|---|
| 1 | 40%+ | Up 2%+ | ₹166 Cr | 20.3 | |
| 2 | 40%+ | Up 2%+ | ₹100 Cr | 12.7 | |
| 3 | 40%+ | Up 0–2% | ₹3,249 Cr | 17.4 | |
| 4 | 40%+ | Up 0–2% | ₹2,081 Cr | 18.8 | |
| 5 | Utssav CZ GoldThis stock | 40%+ | Flat | ₹2,429 Cr | 41.1 |
| 6 | 40%+ | Flat | ₹2,163 Cr | 25.6 |
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Pro shows every company guiding 40%+ revenue growth →Full Consumer Durables rankingFinancials of Utssav CZ Gold
Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.
Shareholder Pattern
Utssav CZ Gold
Shareholding breakup across reporting periods.
| Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 | Sep 2026 | |
|---|---|---|---|---|---|
| Promoters + | 70.52% | 70.52% | 69.57% | 70.30% | 72.55% |
| FIIs + | 2.98% | 1.34% | 0.64% | 0.36% | 0.02% |
| DIIs + | 1.56% | 0.00% | 0.00% | 0.00% | 0.00% |
| Public + | 24.95% | 28.14% | 29.79% | 29.33% | 27.43% |
| No. of Shareholders | 1,762 | 2,414 | 2,321 | 2,301 | 1,483 |
Financials of Utssav CZ Gold
Quarterly Results
Quarter-by-quarter operating performance
Financials of Utssav CZ Gold
Profit & Loss
Annual income statement trend
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Sales + | 117 | 120 | 123 | 238 | 340 | 646 | 1,155 |
| Expenses + | 113 | 117 | 117 | 226 | 319 | 607 | 1,064 |
| Operating Profit | 4 | 4 | 6 | 12 | 21 | 40 | 91 |
| OPM % | 3.7% | 2.9% | 5% | 5% | 6% | 6% | 8% |
| Other Income + | 0 | 0 | 0 | 2 | 2 | 1 | 3 |
| Interest | 1 | 1 | 2 | 4 | 5 | 6 | 13 |
| Depreciation | 0 | 0 | 0 | 1 | 1 | 1 | 1 |
| Profit before tax | 3 | 2 | 4 | 10 | 17 | 33 | 80 |
| Tax % | 25% | 26% | 21% | 26% | 25% | 24% | 26% |
| Net Profit + | 2 | 2 | 3 | 7 | 13 | 25 | 59 |
| EPS in Rs | 1.23 | 0.96 | 1.99 | 4.26 | 7.65 | 10.52 | 24.46 |
| Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
Financials of Utssav CZ Gold
Balance Sheet
Capital structure and asset base
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Equity Capital | 4 | 4 | 4 | 4 | 17 | 24 | 24 |
| Reserves | 6 | 8 | 11 | 18 | 18 | 103 | 174 |
| Borrowings + | 15 | 30 | 36 | 50 | 73 | 130 | 186 |
| Other Liabilities + | 3 | 2 | 5 | 10 | 13 | 13 | 24 |
| Total Liabilities | 28 | 44 | 56 | 82 | 121 | 270 | 408 |
| Fixed Assets + | 8 | 9 | 10 | 10 | 12 | 8 | 9 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets + | 20 | 35 | 46 | 72 | 110 | 261 | 400 |
| Total Assets | 28 | 44 | 56 | 82 | 121 | 270 | 408 |
Financials of Utssav CZ Gold
Cash Flows
Operating, investing and financing cash movement
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Cash from Operating Activity + | 3 | -14 | -2 | -12 | 7 | -89 | -61 |
| Cash from Investing Activity + | 0 | 0 | -2 | 1 | -1 | 3 | 0 |
| Cash from Financing Activity + | -3 | 14 | 4 | 10 | 19 | 118 | 56 |
| Net Cash Flow | -1 | -0 | 0 | 0 | 24 | 32 | -5 |
| Free Cash Flow | 3 | -14 | -4 | -10 | 5 | -88 | -62 |
| CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit | 82% | -397% | -18% | -74% | 52% | -205% | -44% |
Financials of Utssav CZ Gold
Ratios
Working capital efficiency and return ratios
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|
| Debtor Days | 39 | 65 | 67 | 48 | 61 | 62 | 54 |
| Inventory Days | 16 | 32 | 62 | 39 | 25 | 51 | 55 |
| Days Payable | 3 | 1 | 1 | 0 | 0 | 1 | 0 |
| Cash Conversion Cycle | 51 | 96 | 128 | 87 | 86 | 112 | 108 |
| Working Capital Days | 13 | 55 | 49 | 33 | 4 | 41 | 44 |
| ROCE % | 10% | 13% | 20% | 24% | 22% | 29% |
Guidance history
How Utssav CZ Gold's guidance has moved, call by call
| Call | Revenue | Margins | Capex | Fundraising | Order book |
|---|---|---|---|---|---|
| Q4 FY26 call → | 40%+ | Flat | Planned | Planned | — |
| Q2 FY26 call → | 40%+ | Flat | Planned | Planned | Flat |
What management guided on each call, newest first. Not investment advice, and not a forecast of returns.
Momentum score · price trend
99 out of 100 — Strengthening
Over the past year its share price has done better than most of the stocks we track.
| Period | Share price change | Better than … of 1,910 stocks |
|---|---|---|
| Last 12 months | +306.1% | 99% |
| Last 6 months | +285.1% | 100% |
| Last 3 months | +86.3% | 99% |
How we calculate it
“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).
The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Utssav CZ Gold: 0.4 × 99 + 0.4 × 100 + 0.2 × 99 = 99.
Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.
Full methodology →This describes only how the share price has moved up to 29 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.
Continue your research
What Utssav CZ Gold's management said in earlier quarters
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