In , Utssav CZ Gold Jewels Ltd (Diamond, Gems & Jewellery) is outperforming Nifty 500 with +21.8% relative strength. Fundamentals: Strong.
Weekly presence in the outperformers list. Green = beating Nifty 500 by 10%+ that week.
Earnings deceleration risks from management commentary
Trigger: Utssav earns a fixed 4% margin on gold value — so rising gold prices inflate both revenue and absolute profit without margin compression; conversely, falling gold prices would shrink revenue base; the unhedged inventory creates a mark-to-market exposure on permanent working stock that is not formally protected
Monitor: commodity
Trigger: Not explained on call
Monitor: regulatory
Trigger: Low employee cost base relative to revenue (Rs 1.47 Cr on Rs 477 Cr = 0.3% of revenue); as capacity doubles and revenue approaches Rs 1,000+ Crores, employee cost becomes an even smaller fraction — this is structural operating leverage
Monitor: labor
Trigger: Not material today — export is nascent; risk emerges in FY27-FY28 if Dubai office generates meaningful AED-denominated revenues while gold procurement remains INR-denominated
Monitor: fx
Trigger: Not explained on call
Monitor: geopolitical
Key quotes from recent conference calls
“We don't hedge our stock which is lying with us. Whatever we sell, we buy it. That stock automatically gets hedged. For example, if I sell it to you at INR1 lakh, we will buy the same. The stock which is lying inside... You are not hedging the stock inside. So, basically, if I understand it right, if you have 100 kg gold lying around, that is unhedged [Risk (commodity): MEDIUM]”
“Not mentioned on call [Risk (regulatory): LOW]”
“our employee expense is only INR1-INR1.5 crores, I guess. So, it will be marginally a little bit high. Assume that 2-5-10 marketing people will increase. Not like something... It won't double [Risk (labor): LOW]”
“we are now participating in international exhibitions in Dubai which is going to be held in November. And we have a plan to open an office in Dubai. And we are targeting to expand into UAE, GCC, Singapore and USA [Risk (fx): LOW]”
Revenue, profit and margin growth rates
| Metric | YoY | 3Y CAGR | Trend |
|---|---|---|---|
| Revenue | +67% | +74% | Stable |
| PAT (Net Profit) | +190% | +80% | Stable |
| OPM | 9.0% | +400 bps | Volatile |
The above analysis is parsed from publicly available earnings call transcripts. This is educational research only — not investment advice. Last updated Apr 30, 2026.
Based on publicly available financial data. This is educational research, not investment advice.
Utssav CZ Gold Jewels Ltd's latest quarterly results (Sep 2025) show
Utssav CZ Gold Jewels Ltd's profit is growing with an stable trend.
Utssav CZ Gold Jewels Ltd's revenue growth trend is stable.
Utssav CZ Gold Jewels Ltd's operating margin is volatile.
Utssav CZ Gold Jewels Ltd's long-term compounding rates
Utssav CZ Gold Jewels Ltd's earnings growth is stable with positive momentum on a sequential basis.
Utssav CZ Gold Jewels Ltd appears significantly undervalued based on our fair value analysis.
Utssav CZ Gold Jewels Ltd's current PE ratio is 13.8x.
Utssav CZ Gold Jewels Ltd's current PE is 13.8x.
Utssav CZ Gold Jewels Ltd's price-to-book ratio is 3.7x.
Utssav CZ Gold Jewels Ltd is rated Strong with a fundamental score of 61/100. This score is calculated from objective financial metrics
Utssav CZ Gold Jewels Ltd has a debt-to-equity ratio of N/A.
Utssav CZ Gold Jewels Ltd's return ratios over recent years
Utssav CZ Gold Jewels Ltd's operating cash flow is negative (FY2025).
Utssav CZ Gold Jewels Ltd currently does not pay a significant dividend (yield 0.00%).
Utssav CZ Gold Jewels Ltd's shareholding pattern (Mar 2026)
Utssav CZ Gold Jewels Ltd's promoter holding has increased recently.
Utssav CZ Gold Jewels Ltd has been outperforming Nifty 500 for 3 consecutive weeks, indicating early-stage outperformance.
Utssav CZ Gold Jewels Ltd is an established outperformer with 3 weeks of consecutive Nifty 500 outperformance.
Utssav CZ Gold Jewels Ltd has 5 key risks worth monitoring
In Q2 FY26, Utssav CZ Gold Jewels Ltd's management highlighted
Based on quantitative research signals, here is why Utssav CZ Gold Jewels Ltd may be worth studying
Utssav CZ Gold Jewels Ltd investment thesis summary:
Utssav CZ Gold Jewels Ltd's forward outlook based on current data signals
The above FAQs are generated from publicly available earnings data and conference call transcripts. This is educational research only. Sector Alpha is not SEBI registered and does not provide investment advice.
