Sector Alpha Week of 2026-07-24
Sector Alpha — machine-written from the numbers · Data as of 2026-07-24

Utssav CZ Gold Jewels Ltd

UTSSAV
Diamond, Gems & Jewellery

Utssav CZ Gold Jewels Ltd is printing record margins on a fuller multiple. From here the earnings must do all the lifting.

The sharpest disagreement: profits are rising, but only −147% of the last 3 years' profit arrived as operating cash — the gap between the P&L and the bank account is the thing to watch.

The price is in a confirmed uptrend (10 weeks in) while the P/E sits at the 60th percentile of its own 2-year range. Underneath, the last four quarters read improving — profit +100.0% year on year, and −147% of the last 3 years' profit arrived as cash. What settles it: whether the cash starts following the profit.

Price
₹545
+141.8% 1Y
P/E
21.1×
60th pctile
of its own 2-year range
Revenue (Mar 26)
₹679 Cr
+87.6% YoY
Profit (Mar 26)
₹30.0 Cr
+100.0% YoY
Operating margin
7.0%
flat YoY
ROCE
29%
FY26
ROIC
20.0%
vs WACC 12.0% → +8.0 pp
Cash conversion
−147%
of profit, last 3 FY
Unverified figures: Some figures on this page come from a second financial-data feed that could not be cross-checked against the primary source — the two do not share enough overlapping reported history to compare. They are drawn, because they are the only evidence there is, and every section carrying one is marked unverified. PEG is the exception: the quarterly curve is not drawn at all. PEG asks what is being paid for growth — both sides of that division come from the source that could not be checked, so it is withheld instead of marked.
01 · Price story

Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.

Utssav CZ Gold Jewels Ltd trades at ₹545, in a confirmed uptrend and 10 weeks into that stage. That is +95.5% against its own 200-day average. It sits at 100% of a 52-week range of ₹171 to ₹545. On relative strength it has been ahead of the NIFTY 500 on a trailing-13-week view for 19 straight weeks.

Today the stock is in a confirmed uptrend — week 10 of stage 2, confirmed. At ₹545 it trades +95.5% versus its 200-day average and sits at 100% of its 52-week range (₹171–₹545).

Jul 26: ₹545 Weekly closing price (₹) with 50- and 200-day averages; shaded bands mark the price stage (grey base, green advance, amber top, red decline). 2-year window.
+95.5% versus the 200-day line, week 10 of stage 2
Price50-day avg200-day avg
S2S2S4S2S4S2₹579₹454₹330₹206₹81.4₹545₹279Aug 24Feb 25Aug 25Feb 26Jul 26
S2S2S4S2S4S2₹579₹454₹330₹206₹81.4₹545₹279Aug 24Aug 25Jul 26
Beating or trailing, week by week since 2024 Each cell is one week from 2024 to now (108 weeks): the stock's trailing 13-week return minus the NIFTY 500's, green ahead / red behind (±25% ramp). Grey cells are the 13-week warm-up or weeks where the NIFTY 500 reading is not held.
trailing 13-week return vs the NIFTY 500
Aug 24Jul 26

Against the market, two honest reads. Cumulative: over the last 1.9 years the stock moved +328% while the NIFTY 500 moved +3% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 19 straight weeks — the ribbon below is that same metric, week by week.

What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.

→ The trend is one thing; the bill is another. Are you paying up for it? Next: the P/E sits at the 60th percentile of its own range.

02 · Valuation

Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.

Utssav CZ Gold Jewels Ltd trades at 21.1× P/E, mid-range by its own standards (60th percentile). Its long-run median P/E is 18.6×, measured across 2.0 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.

Today's P/E of 21.1× is mid-range by its own standards (60th percentile), against a long-run median of 18.6× measured over 2.0 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.

P/E 21.1× vs a 18.6× long-run median P/E, weekly (left axis); earnings per share, trailing twelve months, weekly (right axis). 2.0-year window; loss-period spikes above 36× shown pinned at the top. The eps (ttm) bars are red where the reading is lower than the quarter before.
mid-range by its own standards (60th percentile)
P/EMedianEPS (TTM) (quarterly)
38.6×₹26.530.6×₹19.822.5×₹13.214.4×₹6.66.4×₹0.0×21.10×₹25Aug 24Feb 25Aug 25Feb 26Jul 26
38.6×₹26.530.6×₹19.822.5×₹13.214.4×₹6.66.4×₹0.0×21.10×₹25Aug 24Aug 25Jul 26
P/E
21.1×
60th percentile of 2y

Why the multiple sits where it does: over the past year annual EPS moved +132.5% against a +141.8% price move — the price outran earnings, pushing the multiple UP its own range.

Put together: the multiple is unremarkable against its own past, so the story rests on the earnings line underneath it, not the multiple.

A quarterly PEG curve, which only the second data source carries, is not drawn on this page: its two data sources do not share enough overlapping reported history to be compared. A figure nobody could check is not used to price growth — the gap is a decision, not missing data.

→ Cheap or dear rides on the earnings. Are they actually growing? Next: the fundamental stage — where the business sits in its arc, and how growth has compounded.

03 · Stage: No read

Stage: No read Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).

Utssav CZ Gold Jewels Ltd reads as no read on its fundamental arc. Under eight usable quarters on the growth trio — not enough history for an honest trajectory read. The read is built from 4 quarters across 1 curve, on partial evidence.

Three growth curves, twelve quarters Year-on-year growth of trailing-twelve-month revenue (left axis), profit and EPS (right axis — they swing far wider), % at each quarter-end. Where the trailing-twelve-month history is short, the curve falls back to single-quarter year-on-year growth — noisier, and the classifier smooths and caps base-effect spikes before reading. A missing point means that reading is not held for the quarter.
the trajectory the stage is read from
RevenueProfit
99%202%90%159%82%116%73%74%64%31%%%87.6%100%Sep 23Sep 24Mar 26
99%202%90%159%82%116%73%74%64%31%%%87.6%100%Sep 23Sep 24Mar 26
ROCE Annual readings — the quarterly balance-sheet pieces this curve needs are not held for this stock, so the returns read moves once a year and carries less weight in the call.
the return curve, annual readings
ROCE
30%27%25%22%19%%29%FY23FY24FY26
30%27%25%22%19%%29%FY23FY24FY26
ROCE
Rising
latest 29.0% · span 20.0%–29.0%

Why it matters: with too little history, an honest page says so instead of guessing a trajectory.

One or more growth curves carry a base-effect spike — a large year-on-year move off a near-zero or loss-making comparable quarter. Those spikes are capped before the classifier reads the trajectory, and shown pinned on the chart, so a single distorted quarter does not drive the stage call.

Return readings here are annual, not quarterly — read as level and direction only; they can confirm the growth curves but never drive the stage on their own.

Fewer than eight usable quarters on the growth curves — this page will not guess a trajectory from a stub of history.

Compound annual growth rate (%) Compound annual growth rate over each window, %. Revenue, profit and EPS from fiscal-year figures; share price is the price CAGR over the same spans. A dash = that window is not held, or the base was a loss.
1yr3yr5yr10yr
Revenue+78.8%+69.3%+57.3%
Profit+136.0%+103.5%+96.8%
EPS+132.5%+12.8%+44.7%
Share price+141.8%
Revenue YoY (Mar 26)
+87.6%
latest quarter vs a year ago
Profit YoY (Mar 26)
+100.0%
latest quarter vs a year ago
Revenue 10y
46.5%
long-run compound pace

→ The stage names the trajectory. Next: the revenue line that produces it, quarter by quarter.

04 · 4-Factor Sector Score

4-Factor Sector Score

64.6/100 — rank 6 of 26 in Diamond, Gems & Jewellery · 56% evidence confidence

Utssav CZ Gold Jewels Ltd scores 64.6 out of 100 against the 26 companies it is compared with in Diamond, Gems & Jewellery, ranking 6. Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral.

The four contributions add to the total exactly: 19.5 + 15.4 + 9.9 + 19.8 = 64.6. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.

What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.

05 · Revenue

Revenue Revenue is the top line: everything the company billed its customers in the period.

Utssav CZ Gold Jewels Ltd reported ₹679 Cr of revenue in the Mar 26 quarter, +87.6% year on year. That is the 4th straight quarter of year-on-year growth. Over 6 years it has compounded at 46.5% a year. The last full year, FY26, came in at ₹1,155 Cr. The last four reported quarters add to ₹1,801 Cr.

Utssav CZ Gold Jewels Ltd reported ₹679 Cr of revenue in the Mar 26 quarter, +87.6% year on year. That is the 4th straight quarter of year-on-year growth. Over 6 years it has compounded at 46.5% a year. The last full year, FY26, came in at ₹1,155 Cr. The last four reported quarters add to ₹1,801 Cr.

FY26 revenue came in at ₹1,155 Cr (+78.8% on the year), capping 6 years at 46.5% compound. The latest quarter (Mar 26) printed ₹679 Cr, +87.6% year on year — the 4th consecutive quarter of year-over-year growth.

FY26 revenue ₹1,155 Cr (+78.8% YoY) Revenue bars, ₹ Cr (left); YoY growth-% line (right). 7-year window. A bar is red when it is lower than the year before.
46.5% a year over 6 years
RevenueYoY growth
1.2k101%93674%62448%31222%0−4.8%₹ Cr%₹1,15578.8%FY20FY23FY26
1.2k101%93674%62448%31222%0−4.8%₹ Cr%₹1,15578.8%FY20FY23FY26
Mar 26: ₹679 Cr (+87.6% YoY) Quarterly revenue bars, ₹ Cr (left); YoY growth-% line (right). Last 12 quarters. A bar is red when it is lower than the quarter before.
4th straight quarter of growth
Revenue (quarterly)YoY growth
73399%55090%36782%18373%064%₹ Cr%₹67987.6%Sep 23Sep 24Mar 26
73399%55090%36782%18373%064%₹ Cr%₹67987.6%Sep 23Sep 24Mar 26

Pace check: the last four quarters averaged +83.4% growth against the decade's 46.5% — the current year is running faster than its own long-run rate.

→ Revenue grew — did margins hold as it scaled? Next: 7.0% this quarter (+0.0 pp YoY).

06 · Operating margin

Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.

Utssav CZ Gold Jewels Ltd's operating margin is 7.0% in the Mar 26 quarter, +0.0 percentage points against the same quarter a year ago. That is the widest this company has ever printed on a full-year basis. Across 7 fiscal years the operating margin has ranged 3.0% to 8.0%. The current quarter sits inside that band.

Utssav CZ Gold Jewels Ltd's operating margin is 7.0% in the Mar 26 quarter, +0.0 percentage points against the same quarter a year ago. That is the widest this company has ever printed on a full-year basis. Across 7 fiscal years the operating margin has ranged 3.0% to 8.0%. The current quarter sits inside that band.

The latest quarter's operating margin is 7.0%, +0.0 pp against the same quarter a year ago. Across 7 fiscal years the operating margin has ranged 3.0%–8.0%, and FY26's 8.0% is the top of that band — a record year.

Why the margin moved: operating margin went +0.0 pp year on year while gross margin went +2.3 pp — the gain came mostly from the gross line: input costs and pricing.

Worth repeating from the valuation section: cheap against its own history on record margins is not the same thing as cheap — a record margin flatters every ratio built on top of it.

FY26: 8.0% Operating margin by fiscal year, %, line (left); year-on-year change in the margin, in percentage points, line (right). 7-year window.
the widest a 3.0–8.0% band over 7 years
operating marginYoY change (pp)
8.4%2.2%7.0%1.4%5.5%0.5%4.0%−0.4%2.6%−1.2%%%8%2%FY20FY23FY26
8.4%2.2%7.0%1.4%5.5%0.5%4.0%−0.4%2.6%−1.2%%%8%2%FY20FY23FY26
Mar 26: 7.0% operating margin (+0.0 pp YoY) Quarterly operating margin, %, line (left); year-on-year change in the margin, in percentage points, line (right). Last 12 quarters. Operating profit as a share of revenue, per quarter.
Operating marginYoY change (pp)
9.3%4.3%8.2%3.2%7.0%2.0%5.8%0.8%4.7%−0.3%%%7%0%Sep 23Sep 24Mar 26
9.3%4.3%8.2%3.2%7.0%2.0%5.8%0.8%4.7%−0.3%%%7%0%Sep 23Sep 24Mar 26

→ Margins held — did that reach the bottom line? Next: profit +100.0% in the latest quarter.

07 · Net profit

Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.

Utssav CZ Gold Jewels Ltd earned ₹30.0 Cr of net profit in the Mar 26 quarter, +100.0% year on year. It is the 4th consecutive quarter of growth. Full-year FY26 profit was ₹59.0 Cr. The 6-year compound rate is 75.8%. That is 4.4% of the quarter's revenue. The same quarter a year earlier earned ₹6.0 Cr.

Utssav CZ Gold Jewels Ltd earned ₹30.0 Cr of net profit in the Mar 26 quarter, +100.0% year on year. It is the 4th consecutive quarter of growth. Full-year FY26 profit was ₹59.0 Cr. The 6-year compound rate is 75.8%. That is 4.4% of the quarter's revenue. The same quarter a year earlier earned ₹6.0 Cr.

Mar 26 profit was ₹30.0 Cr, +100.0% year on year — the 4th consecutive quarter of growth. On the full year, FY26 printed ₹59.0 Cr (+136.0%), and the 6-year compound rate is 75.8%.

FY26 profit ₹59.0 Cr (+136.0% YoY) Net profit bars, ₹ Cr (left); YoY growth-% line (right). 7-year window. A bar is red when it is lower than the year before.
75.8% a year over 6 years
Net profitYoY growth
64147%48107%3268%1629%0−11%₹ Cr%₹59136%FY20FY23FY26
64147%48107%3268%1629%0−11%₹ Cr%₹59136%FY20FY23FY26
Mar 26: ₹30.0 Cr (+100.0% YoY) Quarterly net profit bars, ₹ Cr (left); YoY growth-% line (right). Last 12 quarters. A bar is red when it is lower than the quarter before.
4th straight quarter of growth
Net profit (quarterly)YoY growth
32202%24159%16116%874%031%₹ Cr%₹30100%Sep 23Sep 24Mar 26
32202%24159%16116%874%031%₹ Cr%₹30100%Sep 23Sep 24Mar 26

Why profit moved: revenue contributed +87.6% and the margin +0.0 pp — the quarter was revenue-led, with the margin roughly flat.

Pace comparison, last four quarters: profit +120.7% vs revenue +83.4%. Profit is growing faster than sales — fixed costs are being spread over a bigger base, and each extra rupee of revenue drops more to the bottom line.

→ Profit rose — but did the cash follow? Next: −147% of the last 3 years' profit arrived as cash.

08 · Cash flow — the router

Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.

Over the last 3 fiscal years −147% of Utssav CZ Gold Jewels Ltd's reported profit arrived as operating cash — a gap worth watching. In FY26 that was ₹−61.0 Cr of operating cash against ₹59.0 Cr of profit. After ₹2.0 Cr of capital spending, ₹−63.0 Cr was left as free cash.

FY26: operating cash of ₹−61.0 Cr against reported profit of ₹59.0 Cr, leaving free cash of ₹−63.0 Cr after ₹2.0 Cr of capital spending. Across the last 3 fiscal years the conversion rate is −147% of profit.

Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.

FY26: CFO ₹−61.0 Cr vs profit ₹59.0 Cr Operating cash flow and net profit by fiscal year, ₹ Cr; the line is free cash flow (CFO minus capital spending). 7-year window, annual resolution.
−147% of 3-year profit arrived as cash
Operating cashNet profitFree cash
7128−15−58−101₹ Cr₹−61₹59₹−63FY20FY23FY26
7128−15−58−101₹ Cr₹−61₹59₹−63FY20FY23FY26
FY26: CFO = −103% of profit (three-year rate −147%) Operating cash as a share of net profit, per fiscal year, % (line). Dashed line = 100% — every unit of profit arriving as cash.
Conversion100%
218%−29%−275%−522%−768%%−103%FY20FY23FY26
218%−29%−275%−522%−768%%−103%FY20FY23FY26

🚨 Why conversion sits at −147%: the cash cycle tightened 42 days between FY21 and FY26 — cash that used to wait in the cycle now reaches the bank sooner. Less than 70% of profit arriving as cash is the thing to watch on this page.

Router verdict: no single sink dominates — the next section checks both the working-capital cycle and the capital spending.

→ So follow the cash to where it goes. Next: a 54-day cycle and ₹2.0 Cr of building.

09 · Where the cash goes

Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).

Utssav CZ Gold Jewels Ltd's cash conversion cycle runs 54 days in FY26, down from 96 days in FY21. Capital spending ran ₹2.0 Cr over the last 3 years. At FY26 sales of ₹1,155 Cr each day of that cycle holds about ₹3.2 Cr, so roughly ₹171 Cr sits inside the business at any moment.

FY26: debtors at 54 days (an asset-light business — no inventory to speak of) — for a full cycle of 54 days, tighter than FY21's 96.

In money terms: at FY26 sales of ₹1,155 Cr, each day of the cycle holds about ₹3.2 Cr — so the 54-day loop keeps roughly ₹171 Cr sitting inside the business at any moment.

FY26: a 54-day cash cycle Debtor days, inventory days, payable days and the cash conversion cycle by fiscal year. 7-year window.
−42 days vs FY21
Cash cycleInventory daysDebtor daysPayable days
1381016427−10days54d51d54d1dFY20FY21FY23FY24FY26
1381016427−10days54d51d54d1dFY20FY23FY26

On the investment side: capital spending of ₹2.0 Cr over the last 3 fiscal years against ₹3.0 Cr of depreciation — spending at or below maintenance level. Capital work-in-progress stands at ₹0.0 Cr (FY26) — capacity paid for but not yet earning.

FY26: capex ₹2.0 Cr, work-in-progress ₹0.0 Cr Capital spending per fiscal year, ₹ Cr (bars); capital work-in-progress, ₹ Cr (line). Quarterly capital-spending history is not held for India — annual is the honest resolution.
steady investment
CapexWork-in-progress
320−2−3₹ Cr₹2₹0FY21FY22FY23FY24FY26
320−2−3₹ Cr₹2₹0FY21FY23FY26

The synthesis: neither the cycle nor the build-out is hoarding the cash — the machine is reasonably clean.

→ Does all this activity actually earn its cost of capital? Next: ROCE is 29% and the ROIC − WACC spread is +8.0 pp.

10 · Return on capital

Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.⚠ unverified

Utssav CZ Gold Jewels Ltd earns a ROCE of 29% in FY26. That is up from a trough of 10% in FY21. Return on invested capital clears the cost of that capital by +8.0 percentage points, so growth here adds value rather than only size. The wiring behind it is 5.1% net margin on 2.83× asset turns.

FY26 ROCE is 29%, recovered from a FY21 trough of 10% — the full ladder below shows the fall and the climb, undoctored.

Why the return is what it is — the wiring (FY26): 5.1% net margin × 2.83× asset turns × 2.06× balance-sheet leverage ≈ 29.7% on equity. Margin does its share; leverage is a meaningful part of the equation.

The capstone test — ROIC − WACC: 20.0% − 12.0% = a +8.0 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. A spread this wide means every rupee reinvested creates more than a rupee of value — the engine compounds.

FY26: ROCE 29% Return on capital employed by fiscal year, % (line); ROIC by fiscal year, % (line). 6-year window, dips included. Dashed line = the 12.0% cost of capital used on this page.
the climb back from FY21's 10%
ROCEROIC (annual)WACC
31%25%20%14%8.5%%29%24.9%FY21FY23FY26
31%25%20%14%8.5%%29%24.9%FY21FY23FY26
H2 FY26: ROCE 45.0% (TTM) Trailing-twelve-month ROCE, per quarter, %. Last 5 quarters, put on a trailing-twelve-month basis and anchored to the annual figure.
ROCE (TTM)
53%45%37%29%21%%45%H2 FY24H2 FY25H2 FY26
53%45%37%29%21%%45%H2 FY24H2 FY25H2 FY26

→ Returns like these — is the balance sheet borrowing to make them? Next: debt-to-equity is 0.94.

11 · Debt

Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.⚠ unverified

Utssav CZ Gold Jewels Ltd carries total debt of ₹186 Cr against shareholder equity of ₹198 Cr as of Mar 26, a debt-to-equity of 0.94. On the annual view that ratio went from 2.09 in FY24 to 0.94 in FY26. Read the returns elsewhere on this page with that leverage in mind.

Mar 26: total debt of ₹186 Cr against shareholder equity of ₹198 Cr — a debt-to-equity of 0.94. On the annual view, debt-to-equity went from 2.09 (FY24) to 0.94 (FY26). Read the returns on this page with that leverage in mind.

FY26: debt ₹186 Cr at 0.94× equity Total debt by fiscal year, ₹ Cr (bars); debt-to-equity, × (line). 3-year window.
Total debtDebt-to-equity
2012.2×1511.8×1001.5×501.2×00.8×₹ Cr×₹1860.94×FY24FY25FY26
2012.2×1511.8×1001.5×501.2×00.8×₹ Cr×₹1860.94×FY24FY25FY26
Mar 26: debt ₹186 Cr, debt-to-equity 0.94 Total debt per quarter, ₹ Cr (bars); debt-to-equity, × (line). Last 5 quarters. India reports the full balance sheet half-yearly, so the intervening quarter carries the prior reading forward.
Total debt (quarterly)Debt-to-equity
2012.2×1511.7×1001.2×500.7×00.2×₹ Cr×₹1860.94×Mar 24Mar 25Mar 26
2012.2×1511.7×1001.2×500.7×00.2×₹ Cr×₹1860.94×Mar 24Mar 25Mar 26

→ Who owns this, and are they adding or leaving? Next: the register is quiet.

12 · Ownership

Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.

No holder of Utssav CZ Gold Jewels Ltd moved a full percentage point over the last two years — the register is quiet. The register is read on the four disclosed classes only; nothing is inferred between filings.

The register over the last two years — .

Fiscal-year ends: promoters −0.2 pts from Mar 25 to Mar 26 Shareholding at each fiscal-year end (March quarter), % of the company. 2 year-ends held.
PromotersForeign inst.Domestic inst.Public
76%56%35%15%−5.6%%70.3%0.4%0%29.3%Mar 25Mar 26
76%56%35%15%−5.6%%70.3%0.4%0%29.3%Mar 25Mar 26
A quiet register: no holder moved a full point in two years Shareholding by holder class, % of the company, quarterly, last 4 quarters.
PromotersForeign inst.Domestic inst.Public
76%56%35%15%−5.6%%70.3%0.4%0%29.3%Sep 24Mar 25Mar 26
76%56%35%15%−5.6%%70.3%0.4%0%29.3%Sep 24Mar 25Mar 26

→ One last check: does the safety math agree? Next: the balance-sheet safety line.

13 · Safety line

Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.

Utssav CZ Gold Jewels Ltd: the Z-score reads 6.18. A Z-score above roughly 3 reads as safe and below roughly 1.8 as the distress zone, so this sits well clear of distress. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure.

Why it matters: a Z-score of 6.18 sits well clear of the distress zone — the balance sheet is not the risk here.

The safety line in one sentence: the Z-score reads 6.18.

Related companies · same sector · Diamond, Gems & Jewellery Every company is compared on the shape of its own curves, not static ratios. The Revenue, EPS and ROCE columns each draw that company's last 12 quarters as a mini line of the ACTUAL level (trailing-twelve-month revenue and EPS, and the ROCE itself) — so a line that climbs is a business getting bigger, a line that sinks is one shrinking. The colour tracks the same line: green when it is rising or steadily healthy, amber when it is rolling over from a high (still elevated but turning down), red when it is falling, grey when flat or stuck. Colour and direction always agree — a green line never points down. The ROCE curve is the return on capital (annual readings for peers, so a slightly coarser line than the quarterly one at the top of this page). The Stage column then runs the same 12-quarter trajectory classifier used at the top of the page on each company and names where it sits. What lands a company in each bucket: CONSISTENT — growth stays positive across the window and returns are healthy (ROCE ≥ 15%, or ROE ≥ 12% for lenders); IMPROVING — profit or EPS fell into real decline, bottomed a few quarters back, and has climbed back to positive and held there; TURNING AROUND — the same kind of trough but more recent, with the latest quarters just lifting off it (an early, unconfirmed turn); TOPPING OUT — growth is still positive but decelerating hard from its own peak while returns have stopped rising; DETERIORATING — two or more growth curves are shrinking (latest below zero) and staying there, not one soft quarter; MIXED — the curves genuinely disagree, or no clean majority, so no single word fits; NO READ — fewer than eight usable quarters. It is a like-for-like read of every company against its own past, not a ranking against the group.
CompanyP/EMkt capRevenueEPSROCEStage
Utssav CZ Gold Jewels Ltd this page21.1×₹1,248 CrNo read
Titan Company Ltd80.6×₹4.2L CrTurning around
Kalyan Jewellers India Ltd43.0×₹59,233 CrConsistent
Thangamayil Jewellery Ltd60.7×₹21,467 CrImproving
Bluestone Jewellery & Lifestyle Ltd209.0×₹11,772 CrNo read
Sky Gold & Diamonds Ltd36.8×₹10,124 CrMixed
PC Jeweller Ltd12.6×₹9,011 CrNo read
P N Gadgil Jewellers Ltd21.3×₹8,780 CrMixed
Senco Gold Ltd10.9×₹6,273 CrTurning around
Vaibhav Global Ltd15.7×₹4,216 CrImproving
Rajesh Exports Ltd20.9×₹3,510 CrImproving
D.P. Abhushan Ltd74.8×₹3,032 CrConsistent
Rajesh Exports Ltd23.3×₹2,626 CrMixed
D.P. Abhushan Ltd12.3×₹2,295 CrConsistent
Shringar House of Mangalsutra Ltd18.3×₹2,118 CrNo read
Khazanchi Jewellers Ltd24.0×₹1,836 CrNo read
Tribhovandas Bhimji Zaveri Ltd8.5×₹1,728 CrNo read
Khazanchi Jewellers Ltd18.6×₹1,666 CrNo read
Motisons Jewellers Ltd25.2×₹1,612 CrMixed
Shanti Gold International Ltd10.9×₹1,523 CrNo read
PNGS Reva Diamond Jewellery Limited19.9×₹1,287 Cr
Asian Star Company Ltd24.0×₹971 CrTurning around
PNGS Gargi Fashion Jewellery Ltd25.8×₹785 CrMixed
SJ Corporation Ltd₹776 Cr
Manoj Vaibhav Gems N Jewellers Ltd6.6×₹761 CrTopping out
Radhika Jeweltech Ltd10.0×₹751 CrConsistent
PNGS Gargi Fashion Jewellery Ltd21.8×₹685 CrTopping out
RBZ Jewellers Ltd10.3×₹564 CrMixed
Uday Jewellery Industries Ltd13.7×₹491 CrMixed
Golkunda Diamonds & Jewellery Ltd16.0×₹195 CrMixed
12 · Frequently asked questions

Frequently asked questions

What is Utssav CZ Gold Jewels Ltd's share price today?

Utssav CZ Gold Jewels Ltd trades at ₹545, +141.8% over the past year. The company is valued at ₹1,248 Cr. The stock sits at 100% of its 52-week range of ₹171–₹545, +95.5% versus its 200-day average. On the tape, the price is in a confirmed uptrend, 10 weeks in. — as of 24 July 2026.

What were Utssav CZ Gold Jewels Ltd's latest quarterly results?

Utssav CZ Gold Jewels Ltd reported revenue of ₹679 Cr and net profit of ₹30.0 Cr for the Mar 26 quarter. Revenue rose 87.6% and profit rose 100.0% year on year. Earnings per share were ₹12.27. The operating margin was 7.0%, 0.0 pp higher than a year earlier. — as of 24 July 2026.

What is Utssav CZ Gold Jewels Ltd's revenue?

Utssav CZ Gold Jewels Ltd reported revenue of ₹679 Cr in the Mar 26 quarter, +87.6% year on year. For the full FY26 fiscal year, revenue was ₹1,155 Cr (+78.8%). Over the last 6 years revenue compounded at 46.5% a year. — as of 24 July 2026.

What is Utssav CZ Gold Jewels Ltd's profit?

Utssav CZ Gold Jewels Ltd earned ₹30.0 Cr of net profit in the Mar 26 quarter, +100.0% year on year — the 4th straight quarter of growth. Full-year FY26 profit was ₹59.0 Cr. The operating margin ran 7.0% in the latest quarter. — as of 24 July 2026.

What is Utssav CZ Gold Jewels Ltd's market cap?

Utssav CZ Gold Jewels Ltd's market capitalisation is ₹1,248 Cr at a share price of ₹545. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 24 July 2026.

What is Utssav CZ Gold Jewels Ltd's P/E ratio?

Utssav CZ Gold Jewels Ltd trades at a P/E of 21.1×, at the 60th percentile of its own 2-year range, against a long-run median of 18.6×. This is a comparison with the stock's own history, not a value call — as of 24 July 2026.

Does Utssav CZ Gold Jewels Ltd pay a dividend?

No — Utssav CZ Gold Jewels Ltd has recorded a dividend payout of 0% of profit in each of its last 7 reported fiscal years, so there is no payout history to quote. That is a reading of the filed annual statements, not an estimate. — as of 24 July 2026.

Is Utssav CZ Gold Jewels Ltd overvalued?

On its own history, Utssav CZ Gold Jewels Ltd looks mid-range against its own history: its P/E of 21.1× sits at the 60th percentile of its 2-year range (long-run median 18.6×). That is a percentile read against the stock's own past, not a price opinion or a direction call. One caveat: margins are the best this company has ever printed — cheap on record margins is not the same thing as cheap. — as of 24 July 2026.

Is Utssav CZ Gold Jewels Ltd growing?

Yes — Utssav CZ Gold Jewels Ltd is growing: latest-quarter revenue +87.6% year on year, profit +100.0%, and the margin +0.0 pp at 7.0%. The 6-year compound rates are 46.5% (revenue) and 75.8% (profit). The earnings engine currently reads: improving — as of 24 July 2026.

How is Utssav CZ Gold Jewels Ltd performing?

Utssav CZ Gold Jewels Ltd is in a confirmed uptrend, 10 weeks in. Its latest quarter's revenue rose 87.6% and profit rose 100.0% year on year. Against the NIFTY 500 it has been ahead on a trailing-13-week view for 19 weeks. This describes what the data did, not a rating. — as of 24 July 2026.

Is Utssav CZ Gold Jewels Ltd in an uptrend?

Yes — the price is in a confirmed uptrend (week 10 of stage 2), trading +95.5% versus its 200-day average and at 100% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 24 July 2026.

Is Utssav CZ Gold Jewels Ltd beating the market?

On recent form, yes — Utssav CZ Gold Jewels Ltd has been ahead of the NIFTY 500 on a trailing-13-week view for 19 straight weeks, the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 1.9 years the stock moved +328% against the NIFTY 500's +3% — ahead of the index over the full window. — as of 24 July 2026.

Will Utssav CZ Gold Jewels Ltd's share price go up?

This page publishes no price forecast for Utssav CZ Gold Jewels Ltd. What it measures instead: the share price is ₹545, the price is in a confirmed uptrend 10 weeks in. Its P/E of 21.1× sits at the 60th percentile of its own 2-year range. — as of 24 July 2026.

Who owns Utssav CZ Gold Jewels Ltd?

Promoters hold 70.3% of Utssav CZ Gold Jewels Ltd, foreign institutions 0.4%, domestic institutions 0.0% and the public 29.3% (latest quarter). No holder moved a full point over the last two years — the register is quiet. — as of 24 July 2026.

Does Utssav CZ Gold Jewels Ltd have too much debt?

It is moderate — Utssav CZ Gold Jewels Ltd's debt-to-equity is 0.94, and operating profit covers the interest bill 7×. FY26 borrowings were ₹186 Cr against equity of ₹198 Cr. Read the returns on this page with that leverage in mind — as of 24 July 2026.

What is Utssav CZ Gold Jewels Ltd's capex?

Utssav CZ Gold Jewels Ltd spent ₹2.0 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY26 alone that was ₹2.0 Cr, with ₹0.0 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 24 July 2026.

What is Utssav CZ Gold Jewels Ltd's cash flow?

Utssav CZ Gold Jewels Ltd generated ₹−61.0 Cr of operating cash flow in FY26 and ₹−63.0 Cr of free cash flow after ₹2.0 Cr of capital spending. Reported profit that year was ₹59.0 Cr, so operating cash ran behind profit. Cash-flow resolution for India is annual. — as of 24 July 2026.

Is Utssav CZ Gold Jewels Ltd's profit real cash?

Not fully — over the last 3 fiscal years, −147% of Utssav CZ Gold Jewels Ltd's reported profit arrived as operating cash. In FY26, operating cash was ₹−61.0 Cr against reported profit of ₹59.0 Cr. The cash then goes into a mix of the working-capital cycle and capacity. Cash-flow resolution is annual — as of 24 July 2026.

How financially safe is Utssav CZ Gold Jewels Ltd?

On the balance sheet, the Z-score reads 6.18 — above roughly 3 is safe, below roughly 1.8 is the distress zone. That sits well clear of trouble. — as of 24 July 2026.

Where is Utssav CZ Gold Jewels Ltd in its business cycle?

Utssav CZ Gold Jewels Ltd's FY26 operating margin was 8.0%, against a 7-year band of 3.0%–8.0%: the top of the band — a record year. Record profitability is late-cycle territory: every ratio flatters at the top, and the story leans on margins holding. The latest quarter ran 7.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 24 July 2026.

What could break the Utssav CZ Gold Jewels Ltd story?

The sharpest disagreement: profits are rising, but only −147% of the last 3 years' profit arrived as operating cash — the gap between the P&L and the bank account is the thing to watch. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 24 July 2026.

Is Utssav CZ Gold Jewels Ltd a stock worth studying right now?

This is not investment advice. The machine read: Utssav CZ Gold Jewels Ltd is printing record margins on a fuller multiple. From here the earnings must do all the lifting. The sharpest open question: whether the cash starts following the profit. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 24 July 2026.

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