Utssav CZ Gold Jewels Shares Surge Over 19% to ₹195.05 After Reporting 65% YoY Revenue Growth in H1FY26

Mumbai, 10 October 2025: Shares of Utssav CZ Gold Jewels Limited (NSE: UTSSAV) surged 19.08% to ₹195.05 on the National Stock Exchange (NSE) at 10:14 AM, following the company’s strong 65% year-on-year (YoY) revenue growth in the first half of FY26. The rally reflects robust operational performance, expanded domestic reach, and consistent export traction, marking another milestone for the jewellery manufacturer since its August 2024 listing on NSE SME Emerge.

Headquartered in Mumbai, Utssav CZ Gold Jewels Limited manufactures 18K, 20K, and 22K lightweight and cubic zirconia (CZ) gold jewellery, catering to both domestic and international clients. The company serves the retail and wholesale markets, offering a wide array of design-led collections. Listed on the NSE SME Emerge platform since 7 August 2024, Utssav has steadily positioned itself as a premium jewellery manufacturer with a focus on quality craftsmanship and global design appeal.

Strong Revenue Momentum Driven by Domestic and Export Expansion

Utssav CZ Gold Jewels posted a 65% YoY rise in revenue during H1FY26, fuelled by a surge in domestic demand and steady growth in international markets. The company has now established its presence in 17 Indian states, with notable penetration in South and West India, and fresh entries into Punjab, Haryana, and the Eastern regions.

On the global front, the UAE has emerged as a key export hub, contributing significantly to Utssav’s overseas business. The company’s participation in major trade exhibitions in Singapore and Malaysia and expansion through new distributor partnerships have also enhanced its brand visibility across the Gulf Cooperation Council (GCC) region.

Share Price Jumps 19% to ₹195.05 as Market Reacts to Robust H1FY26 Performance

Utssav’s shares climbed ₹31.25 from the previous close of ₹163.80, touching an intraday high of ₹196.55 and a low of ₹175.00. The stock recorded an average price of ₹194.48 with a trading volume of 2.15 lakh shares. It currently commands a market capitalisation of ₹464.33 crore and trades at an adjusted price-to-earnings (P/E) ratio of 15.77.

The counter has remained within a 52-week range of ₹145.05 to ₹315.25, with the upper circuit limit set at ₹196.55. Analysts attribute the rally to strong earnings momentum and expanding market reach, signalling operational strength despite broader market volatility.

Product Innovation and Festive Demand Fuel Growth

The company’s performance in H1FY26 was supported by a design-led approach and timely festive season launches for Dussehra, Dhanteras, and Diwali. Utssav also introduced natural and lab-grown diamond jewellery in 18K and select 14K purity, diversifying its product portfolio to cater to evolving consumer preferences.

The brand’s focus on lightweight, contemporary, and customisable designs has helped deepen its relationships with retail partners and strengthen its position in the business-to-business (B2B) jewellery segment.

Strategic Outlook: Expanding Capacity and Strengthening Design Leadership

Commenting on the half-yearly performance, Managing Director Pankajkumar Jagawat said the company’s design pipeline, operational scalability, and expanding client base will help sustain momentum in the upcoming quarters.

“Utssav enters H2FY26 well-positioned to maintain its growth trajectory and strengthen its leadership in the design-driven jewellery manufacturing space,” Jagawat stated, highlighting the firm’s continued focus on innovation, brand partnerships, and export growth.

Utssav CZ Gold Jewels’ strong 65% YoY revenue growth, expansion across 17 Indian states, and growing presence in the UAE and GCC markets underscore its robust operational foundation. The company’s focus on innovation, festive product launches, and strategic distribution channels highlights a well-structured business approach in a competitive jewellery market

REF: https://nsearchives.nseindia.com/corporate/UTSSAV_09102025161550_Utssav_business__activity_update09102025.pdf

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