Uday Jewellery Industries Ltd
539518Uday Jewellery Industries Ltd is coiled. The quarters are improving, yet the P/E sits at the 9th percentile of its own 10-year range — the business is moving before the market.
The sharpest disagreement: profits are rising, but only −202% 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 (8 weeks in) while the P/E sits at the 9th percentile of its own 10-year range. Underneath, the last four quarters read improving — profit +450.0% year on year, and −202% of the last 3 years' profit arrived as cash. What settles it: whether the cash starts following the profit.
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.
Uday Jewellery Industries Ltd trades at ₹144, in a confirmed uptrend and 8 weeks into that stage. That is −1.7% against its own 200-day average. It sits at 54% of a 52-week range of ₹115 to ₹169. On relative strength it is currently behind the NIFTY 500 on a trailing-13-week view (7 weeks and counting).
Today the stock is in a confirmed uptrend — week 8 of stage 2, confirmed. At ₹144 it trades −1.7% versus its 200-day average and sits at 54% of its 52-week range (₹115–₹169).
Against the market, two honest reads. Cumulative: over the last 10.2 years the stock moved +1,157% while the NIFTY 500 moved +249% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock is currently behind (7 weeks and counting; last ahead the week of 2026-06-17) — 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.
Story check
Uday Jewellery Industries Ltd's story is not scored yet against the markers our research file set on 31 May 2026. Where it sits in its own cycle: CYCLE_BOTTOM. Still open: With OPM historically 2.4%–10%, even a moderate gold price spike hits the P&L disproportionately — the catalyst overlay cited 9% PAT downside from this risk.
Our read, 31 May 2026. A small Hyderabad jeweller completing a merger-driven scale-up — revenue +153% YoY on the combined entity — but PAT margins thin (4.9% FY26) and OPM volatile (2.4% to 10% across four quarters), with no moat evidence yet.
From the numbers. PE 16.8x at 12th percentile of 10-year range vs median 32.5x (ratio 0.517). pe_pb_cycle classification: CYCLE_BOTTOM, GOLDEN_SETUP. EPS is growing (₹10.78 FY26 vs ₹4.74 FY25) while multiple has contracted…
From the price. Price stage 2, week 8 — below its 200-day line, relative strength falling.
From the research. A small Hyderabad jeweller completing a merger-driven scale-up — revenue +153% YoY on the combined entity — but PAT margins thin (4.9% FY26) and OPM volatile (2.4% to 10% across four quarters), with no moat evidence yet.
🚨 Where they disagree. PE 16.8x at 12th percentile of 10-year range vs median 32.5x (ratio 0.517). pe_pb_cycle classification: CYCLE_BOTTOM, GOLDEN_SETUP. EPS is growing (₹10.78 FY26 vs ₹4.74 FY25) while multiple has contracted — earnings-driven compression. However, the prior median of 32.5x was achieved at lower absolute earnings levels; the path back to median multiple requires sustained margin proof.
What is proven. A small Hyderabad jeweller completing a merger-driven scale-up — revenue +153% YoY on the combined entity — but PAT margins thin (4.9% FY26) and OPM volatile (2.4% to 10% across four quarters), with no moat evidence yet.
What is not proven yet. With OPM historically 2.4%–10%, even a moderate gold price spike hits the P&L disproportionately — the catalyst overlay cited 9% PAT downside from this risk.
The test written in advance. Gold price volatility compresses thin margins — Gold price volatility compresses thin margins Gold price LME >$3,200/oz; Q1 FY27 OPM vs gold price trajectory by the next result.
The test written in advance. Non-operating income prop to Q3 FY26 profits — core margin not sustainable — Non-operating income prop to Q3 FY26 profits — core margin not sustainable Q1 FY27 operating profit vs total PAT; non-operating income as % of PBT by the next result.
The test written in advance. Merger restatement obscures organic growth trajectory — Merger restatement obscures organic growth trajectory Management disclosure of organic vs merger-contributed revenue split by the next result.
What the company does. FY26 revenue ₹726 Cr (+153% YoY) and PAT ₹36 Cr (+127% YoY) reflect the first full restated year post-merger with Narbada Gems (NCLT-approved Apr 2024 appointed date). PE 16.8x sits at the 12th percentile of its 10-year range vs median 32.5x — CYCLE_BOTTOM classification — while EPS trajectory is upward. OPM has been volatile: 10% → 6% → 4% → 7% across Q1–Q4 FY26, and Q3 FY26 showed OPM compressed to 2.4% with over half of PBT from non-operating income — the core manufacturing margin is not yet proven stable.
| Dial | Now | Was | Why it matters | Watch line |
|---|---|---|---|---|
| Value-Added Product Mix Shift (plain gold… | HIGH | — | Management's stated pivot to 65% studded jewellery mix targets OPM of 9.5%, but Q3 FY26 OPM dropped to 2.4%, suggesting the mix… | Gold price LME >$3,200/oz; Q1 FY27 OPM vs gold price trajectory |
| Geographical Expansion (UAE exports since… | MEDIUM | — | UAE export channel established since 2018; Chennai branch approved by board Apr 2026. Catalyst overlay assigned +10% PAT impact… | Gold price LME >$3,200/oz; Q1 FY27 OPM vs gold price trajectory |
Lever 1 · Operating leverage — BUILDING. Management's stated pivot to 65% studded jewellery mix targets OPM of 9.5%, but Q3 FY26 OPM dropped to 2.4%, suggesting the mix benefit is not yet flowing through consistently. What proves it keeps working: Value-Added Product Mix Shift (plain gold → studded jewellery). It stops working if Gold price LME >$3,200/oz; Q1 FY27 OPM vs gold price trajectory.
Lever 10 · New geographies — BUILDING. UAE export channel established since 2018; Chennai branch approved by board Apr 2026. Catalyst overlay assigned +10% PAT impact from geographical expansion. What proves it keeps working: Geographical Expansion (UAE exports since 2018, Chennai branch planned). It stops working if Gold price LME >$3,200/oz; Q1 FY27 OPM vs gold price trajectory.
Sources: our stock research file (31 May 2026) · quarterly results through Mar 26. The story check is re-scored every results season; the record below never changes.
Revenue Revenue is the top line: everything the company billed its customers in the period.
Uday Jewellery Industries Ltd reported ₹226 Cr of revenue in the Mar 26 quarter, +113.2% year on year. That is the 8th straight quarter of year-on-year growth. Over 10 years it has compounded at 36.6% a year. The last full year, FY26, came in at ₹726 Cr. The last four reported quarters add to ₹679 Cr.
Why this happened. The company exports to UAE and plans further international market entry. A new Chennai branch was approved by the board in April 2026. The catalyst overlay (Apr 2026) cited geographical expansion as a recurring MEDIUM catalyst with +10% PAT impact. Execution evidence is thin — no quarterly breakout of domestic vs export revenue is available at Bronze conviction.
FY26 revenue came in at ₹726 Cr (+153.0% on the year), capping 10 years at 36.6% compound. The latest quarter (Mar 26) printed ₹226 Cr, +113.2% year on year — the 8th consecutive quarter of year-over-year growth.
Pace check: the last four quarters averaged +128.6% growth against the decade's 36.6% — the current year is running faster than its own long-run rate.
Acceleration check: trailing-twelve-month revenue grew +120.5% over the last 4 quarters against +98.1%/yr over the last 8 — accelerating; TTM profit +138.5% vs +85.6%/yr — accelerating.
FY26-Q4. Revenue +113% YoY; OPM recovers to 7%; PAT +489% on low base
Why-sources: our stock research file (31 May 2026) and the company’s own results for those quarters.
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.
Uday Jewellery Industries Ltd's operating margin is 7.0% in the Mar 26 quarter, +3.0 percentage points against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 3.0% to 11.0%. The current quarter sits inside that band.
Why this happened. The core thesis is that higher-margin studded (colour stone + diamond) products yield OPM well above plain gold trading. The catalyst overlay (Apr 2026) assigned +15% PAT impact. Revenue grew 4.5x from ₹41 Cr/quarter (Jun 2024) to ₹226 Cr (Mar 2026), but OPM has been 2.4%–10% across this period. The mix shift is directionally correct but execution is uneven — the Q3 compression and non-operating income prop undermine the margin story.
The latest quarter's operating margin is 7.0%, +3.0 pp against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 3.0%–11.0%.
Why the margin moved: operating margin went +3.0 pp year on year while gross margin went +2.6 pp — the gain came mostly from the gross line: input costs and pricing.
FY26-Q4. Revenue +113% YoY; OPM recovers to 7%; PAT +489% on low base
Why-sources: our stock research file (31 May 2026) and the company’s own results for those quarters.
Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.
Uday Jewellery Industries Ltd earned ₹11.0 Cr of net profit in the Mar 26 quarter, +450.0% year on year. It is the 4th consecutive quarter of growth. Full-year FY26 profit was ₹36.0 Cr. The 10-year compound rate is 33.5%. That is 4.9% of the quarter's revenue. The same quarter a year earlier earned ₹2.0 Cr.
Mar 26 profit was ₹11.0 Cr, +450.0% year on year — the 4th consecutive quarter of growth. On the full year, FY26 printed ₹36.0 Cr (+227.3%), and the 10-year compound rate is 33.5%.
Why profit moved: revenue contributed +113.2% and the margin +3.0 pp — the quarter was margin-led: most of the profit growth came from keeping more of each sale.
Pace comparison, last four quarters: profit +184.2% vs revenue +128.6%. 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.
FY26-Q4. Revenue +113% YoY; OPM recovers to 7%; PAT +489% on low base
Why-sources: our stock research file (31 May 2026) and the company’s own results for those quarters.
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 −202% of Uday Jewellery Industries Ltd's reported profit arrived as operating cash — a gap worth watching. In FY26 that was ₹−107 Cr of operating cash against ₹36.0 Cr of profit. After ₹9.0 Cr of capital spending, ₹−116 Cr was left as free cash.
FY26: operating cash of ₹−107 Cr against reported profit of ₹36.0 Cr, leaving free cash of ₹−116 Cr after ₹9.0 Cr of capital spending. Across the last 3 fiscal years the conversion rate is −202% of profit.
Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.
🚨 Why conversion sits at −202%: the cash cycle tightened 51 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: the bigger cash user is investment — capital spending ran 4.3× depreciation over three years, so the next section's job is to check what that build-out is buying.
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).
Uday Jewellery Industries Ltd's cash conversion cycle runs 181 days in FY26, down from 232 days in FY21. Capital spending ran ₹13.0 Cr over the last 3 years. At FY26 sales of ₹726 Cr each day of that cycle holds about ₹2.0 Cr, so roughly ₹360 Cr sits inside the business at any moment.
FY26: debtors at 67 days, inventory at 115 days — roughly 3.8 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 181 days, tighter than FY21's 232.
The full loop: cash goes out to suppliers and production on day 0; stock waits 115 days to sell; customers pay about 67 days after that; and suppliers themselves are paid at 1 days — netting out to the 181-day cycle.
In money terms: at FY26 sales of ₹726 Cr, each day of the cycle holds about ₹2.0 Cr — so the 181-day loop keeps roughly ₹360 Cr sitting inside the business at any moment.
On the investment side: capital spending of ₹13.0 Cr over the last 3 fiscal years against ₹3.0 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹0.0 Cr (FY26) — capacity paid for but not yet earning.
The synthesis: the cash is going into capacity, not disappearing into the cycle — the question becomes whether the new capacity earns.
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.
Uday Jewellery Industries Ltd earns a ROCE of 22% in FY26. That is up from a trough of 10% in FY17. A return-on-invested-capital spread against the cost of capital is not computable from what is held here. The wiring behind it is 5.0% net margin on 1.91× asset turns.
FY26 ROCE is 22%, recovered from a FY17 trough of 10% — the full ladder below shows the fall and the climb, undoctored.
Why the return is what it is — the wiring (FY26): 5.0% net margin × 1.91× asset turns × 1.84× balance-sheet leverage ≈ 17.6% on equity. Margin does its share; leverage is a meaningful part of the equation.
Debt Debt-to-equity says how much of the business is funded by borrowings; interest cover says how many times operating profit pays the interest bill. Low and high, respectively, is the safe corner.
Uday Jewellery Industries Ltd carries ₹162 Cr of borrowings against ₹207 Cr of equity in FY26, a debt-to-equity of 0.78. Operating profit covers the interest bill 7×. Over 5 years borrowings went from ₹13.0 Cr to ₹162 Cr. Capital spending ran ₹13.0 Cr across the last 3 of those years.
FY26: borrowings of ₹162 Cr against equity of ₹207 Cr — a debt-to-equity of 0.78. Operating profit covers the interest bill 7×. Over 5 years borrowings went from ₹13.0 Cr to ₹162 Cr while capital spending ran ₹13.0 Cr in just the last 3 — part of the build-out is riding on borrowed money.
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 Uday Jewellery Industries 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 — Promoters: +0.6 points over 8 quarters to 74.4%.
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.
Uday Jewellery Industries Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.
The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.
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.
Uday Jewellery Industries Ltd trades at 13.7× P/E, near the bottom of its own range — cheaper only 9% of the time. Its long-run median P/E is 32.3×, measured across 10.2 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 13.7× is near the bottom of its own range — cheaper only 9% of the time, against a long-run median of 32.3× measured over 10.2 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.
Why the multiple sits where it does: over the past year annual EPS moved +124.5% against a −6.7% price move — earnings outran the price, pushing the multiple DOWN its own range.
The price move, decomposed: over 5y, of the +0.1%/yr price move, ~+32.2%/yr came from earnings growth and ~−32.1 pp from the multiple (compressing); over 10y, of the +27.5%/yr price move, ~+19.3%/yr came from earnings growth and ~+8.2 pp from the multiple (expanding). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.
Put together: the multiple is low against its own past, so the story rests on the earnings line underneath it, not the multiple.
What the price assumes This reading works the multiple backwards. It asks one question: what yearly rate of profit growth is a buyer at the market price already paying for? The number is the growth rate that makes eleven years of profit — six years growing, then five fading — add up to that day's market price, once each year is discounted at 11% a year.
At its price on 13 June 2026, Uday Jewellery Industries Ltd was priced for profit growth of about 7.6% a year. Profit itself has compounded 33.5% a year over the past 10 years. The market pays that at 13.7× P/E, the 9th percentile of its own 10-year range.
What the two numbers say together. The multiple is low against its own past, and the growth the price is paying for is below what this company has actually delivered. Both readings sit on the same earnings, so they are one reading rather than two.
How to hold this number: it is a reading of one day's price, taken on 13 June 2026, not a running figure. A higher price is paying for more growth and a lower price for less, so it moves whenever the price does, and this page does not restate it between measurements. Every other number on this page is read off the live quote.
Stage: Mixed 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).
Uday Jewellery Industries Ltd reads as mixed on its fundamental arc. Mixed — no clean majority across the growth curves, ROCE lifting at 22.0% — the per-curve reads carry the story. The read is built from 10 quarters across 3 curves, on partial evidence.
Why it matters: when the curves disagree, the per-curve reads above matter more than any single verdict.
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.
A partial read: at least one curve is short, or the returns curve is not the computed quarterly series — hold the stage word a little more loosely.
| 1yr | 3yr | 5yr | 10yr | |
|---|---|---|---|---|
| Revenue | +153.0% | +60.1% | +50.8% | +36.6% |
| Profit | +227.3% | +53.3% | +43.1% | +33.5% |
| EPS | +124.5% | +35.2% | +32.3% | +21.6% |
| Share price | −6.7% | +12.0% | +0.1% | +27.5% |
4-Factor Sector Score
56.4/100 — rank 9 of 26 in Diamond, Gems & Jewellery · 78% evidence confidence
Uday Jewellery Industries Ltd scores 56.4 out of 100 against the 26 companies it is compared with in Diamond, Gems & Jewellery, ranking 9. Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -22.3% and the one-year return is -1%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth.
The four contributions add to the total exactly: 27.2 + 14.2 + 12 + 3 = 56.4. 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.
| Company | Score | Price stage | Growth & earnings/35 | Capital efficiency/25 | Valuation/20 | Relative strength/20 |
|---|---|---|---|---|---|---|
| 1Tribhovandas Bhimji Zaveri LtdTBZ | 71.9/100Favorable setup87% evidence | BREAKING OUT | 25.4/35 Revenue 29.1% · PAT 100% · OPM change 0 pp 95% evidence | 14.8/25 ROCE 21.4% · OPM 9% 95% evidence | 13.9/20 P/E 7.8× · PEG — 50% evidence | 17.8/20 RS sector 11.6% · RS bench 40.5% · 1Y 33.8%12 of 12 weeks ahead 100% evidence |
| Exact sum: 25.4 + 14.8 + 13.9 + 17.8 = 71.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 2D.P. Abhushan LtdDPABHUSHAN | 70.5/100Favorable setup100% evidence | BREAKING OUT | 25.1/35 Revenue 30.8% · PAT 94.3% · OPM change 1 pp 100% evidence | 18.3/25 ROCE 39.6% · OPM 11% 100% evidence | 15.0/20 P/E 13.6× · PEG 0.68 100% evidence | 12.1/20 RS sector -13.6% · RS bench 10.4% · 1Y -12%5 of 12 weeks ahead 100% evidence |
| Exact sum: 25.1 + 18.3 + 15 + 12.1 = 70.5 · Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence. | ||||||
| 3Khazanchi Jewellers LtdKHAZANCHI | 69.0/100Favorable setup69% evidence | 26.7/35 Revenue 24.4% · PAT 100% · OPM change 2 pp 95% evidence | 17.5/25 ROCE 34.8% · OPM 7% 76% evidence | 9.9/20 P/E 19.4× · PEG — 15% evidence | 14.9/20 RS sector 24% · RS bench 18.6% · 1Y 25.1%12 of 12 weeks ahead to 2026-03-08 70% evidence | |
| Exact sum: 26.7 + 17.5 + 9.9 + 14.9 = 69 · Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence. | ||||||
| 4Sky Gold & Diamonds LtdSKYGOLD | 68.9/100Favorable setup97% evidence | LEADER | 27.6/35 Revenue 81.4% · PAT 100% · OPM change 2 pp 95% evidence | 15.6/25 ROCE 27% · OPM 8% 95% evidence | 7.1/20 P/E 35.8× · PEG 1.71 100% evidence | 18.6/20 RS sector 49.6% · RS bench 86.6% · 1Y 180.5%12 of 12 weeks ahead 100% evidence |
| Exact sum: 27.6 + 15.6 + 7.1 + 18.6 = 68.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 5Utssav CZ Gold Jewels LtdUTSSAV | 66.3/100Thin evidence · provisional56% evidence | LEADER | 19.7/35 Revenue — · PAT — · OPM change 0 pp 26% evidence | 18.1/25 ROCE 28.8% · OPM 7% 95% evidence | 9.6/20 P/E 20.7× · PEG — 15% evidence | 18.9/20 RS sector 48.8% · RS bench 84.3% · 1Y 158.7%12 of 12 weeks ahead 100% evidence |
| Exact sum: 19.7 + 18.1 + 9.6 + 18.9 = 66.3 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. | ||||||
| 6Thangamayil Jewellery LtdTHANGAMAYL | 63.7/100Mixed-positive evidence100% evidence | LEADER | 26.9/35 Revenue 83.2% · PAT 100% · OPM change -1 pp 100% evidence | 14.1/25 ROCE 25.5% · OPM 5% 100% evidence | 9.3/20 P/E 43× · PEG 0.77 100% evidence | 13.4/20 RS sector 13.7% · RS bench 42.1% · 1Y 174.9%12 of 12 weeks ahead 100% evidence |
| Exact sum: 26.9 + 14.1 + 9.3 + 13.4 = 63.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 7Titan Company LtdTITAN | 57.4/100Mixed-positive evidence100% evidence | BREAKING OUT | 26.9/35 Revenue 45% · PAT 55.1% · OPM change 3 pp 100% evidence | 13.4/25 ROCE 20.5% · OPM 14% 100% evidence | 7.7/20 P/E 76.9× · PEG 1.43 100% evidence | 9.4/20 RS sector -4.5% · RS bench 21.2% · 1Y 46.8%2 of 12 weeks ahead 100% evidence |
| Exact sum: 26.9 + 13.4 + 7.7 + 9.4 = 57.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 8Senco Gold LtdSENCO | 57.1/100Mixed-positive evidence100% evidence | ASLEEP | 24.8/35 Revenue 43.1% · PAT 100% · OPM change -3 pp 100% evidence | 12.6/25 ROCE 21.2% · OPM 7% 100% evidence | 14.8/20 P/E 9.8× · PEG 1.35 100% evidence | 4.9/20 RS sector -21.3% · RS bench 0% · 1Y 2.9%9 of 12 weeks ahead 100% evidence |
| Exact sum: 24.8 + 12.6 + 14.8 + 4.9 = 57.1 · Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -21.3% and the one-year return is 2.9%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth. | ||||||
| 9Uday Jewellery Industries Ltdthis page539518 | 56.4/100Mixed-positive evidence78% evidence | 27.2/35 Revenue 100% · PAT 100% · OPM change 3 pp 83% evidence | 14.2/25 ROCE 22.4% · OPM 7% 76% evidence | 12.0/20 P/E 13.7× · PEG — 50% evidence | 3.0/20 RS sector -22.3% · RS bench -3.8% · 1Y -1%7 of 8 weeks ahead to 2026-07-19 100% evidence | |
| Exact sum: 27.2 + 14.2 + 12 + 3 = 56.4 · Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -22.3% and the one-year return is -1%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth. | ||||||
| 10Shanti Gold International LtdSHANTIGOLD | 55.3/100Mixed-positive evidence74% evidence | TURNING | 17.8/35 Revenue 100% · PAT 100% · OPM change -8 pp 95% evidence | 16.5/25 ROCE 37% · OPM 10% 95% evidence | 10.8/20 P/E 12.2× · PEG — 15% evidence | 10.2/20 RS sector -9.4% · RS bench 15.3% · 1Y 3.3%9 of 12 weeks ahead 70% evidence |
| Exact sum: 17.8 + 16.5 + 10.8 + 10.2 = 55.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 11Kalyan Jewellers India LtdKALYANKJIL | 55.1/100Mixed-positive evidence100% evidence | BREAKING OUT | 22.4/35 Revenue 45.8% · PAT 79.3% · OPM change -1 pp 100% evidence | 11.2/25 ROCE 20.5% · OPM 6% 100% evidence | 5.1/20 P/E 42.9× · PEG 2.19 100% evidence | 16.4/20 RS sector 3.5% · RS bench 31.2% · 1Y 15.2%5 of 12 weeks ahead 100% evidence |
| Exact sum: 22.4 + 11.2 + 5.1 + 16.4 = 55.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 12Vaibhav Global LtdVAIBHAVGBL | 54.1/100Mixed-positive evidence100% evidence | FADING | 19.1/35 Revenue 10.4% · PAT 73.8% · OPM change 3 pp 100% evidence | 12.8/25 ROCE 16.4% · OPM 11% 100% evidence | 18.5/20 P/E 13.4× · PEG 0.33 100% evidence | 3.7/20 RS sector -23.7% · RS bench -2.9% · 1Y 3.5%7 of 12 weeks ahead 100% evidence |
| Exact sum: 19.1 + 12.8 + 18.5 + 3.7 = 54.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 13RBZ Jewellers LtdRBZJEWEL | 54.0/100Mixed-positive evidence87% evidence | TURNING | 17.3/35 Revenue 30.3% · PAT 54% · OPM change -2.3 pp 95% evidence | 16.6/25 ROCE 21.8% · OPM 14.8% 95% evidence | 13.6/20 P/E 9.9× · PEG — 50% evidence | 6.5/20 RS sector -21.3% · RS bench 0.2% · 1Y 8.9%7 of 12 weeks ahead 100% evidence |
| Exact sum: 17.3 + 16.6 + 13.6 + 6.5 = 54 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 14Motisons Jewellers LtdMOTISONS | 52.8/100Mixed-positive evidence87% evidence | TURNING | 16.3/35 Revenue 10.7% · PAT 50% · OPM change 0 pp 95% evidence | 13.5/25 ROCE 17.9% · OPM 15% 95% evidence | 11.8/20 P/E 28.5× · PEG — 50% evidence | 11.2/20 RS sector -14.4% · RS bench 9.4% · 1Y -11.6%3 of 12 weeks ahead 100% evidence |
| Exact sum: 16.3 + 13.5 + 11.8 + 11.2 = 52.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 15Golkunda Diamonds & Jewellery Ltd523676 | 51.8/100Thin evidence · provisional57% evidence | 13.6/35 Revenue 1.3% · PAT -12.4% · OPM change -0.8 pp 53% evidence | 13.2/25 ROCE 19.9% · OPM 9.7% 57% evidence | 8.4/20 P/E 16× · PEG — 50% evidence | 16.6/20 RS sector 60.4% · RS bench 52.8% · 1Y 61.4%9 of 12 weeks ahead to 2026-03-29 70% evidence | |
| Exact sum: 13.6 + 13.2 + 8.4 + 16.6 = 51.8 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. | ||||||
| 16P N Gadgil Jewellers LtdPNGJL | 51.2/100Mixed-positive evidence93% evidence | TURNING | 26.0/35 Revenue 47.8% · PAT 76.6% · OPM change 2 pp 100% evidence | 12.6/25 ROCE 20.9% · OPM 8% 100% evidence | 8.0/20 P/E 20× · PEG 1.77 65% evidence | 4.6/20 RS sector -22% · RS bench -0.6% · 1Y 10.2%0 of 12 weeks ahead 100% evidence |
| Exact sum: 26 + 12.6 + 8 + 4.6 = 51.2 · Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -22% and the one-year return is 10.2%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth. | ||||||
| 17Shringar House of Mangalsutra LtdSHRINGARMS | 50.8/100Mixed-positive evidence60% evidence | FADING | 15.1/35 Revenue 65.1% · PAT 65.8% · OPM change -3 pp 95% evidence | 15.6/25 ROCE 26.8% · OPM 9% 95% evidence | 10.1/20 P/E 17.8× · PEG — 15% evidence | 10.0/20 RS sector — · RS bench — · 1Y —6 of 12 weeks ahead 0% evidence |
| Exact sum: 15.1 + 15.6 + 10.1 + 10 = 50.8 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 18Bluestone Jewellery & Lifestyle LtdBLUESTONE | 48.8/100Thin evidence · provisional59% evidence | BREAKING OUT | 23.5/35 Revenue 40% · PAT 100% · OPM change 3.4 pp 74% evidence | 4.8/25 ROCE 7.1% · OPM 14.5% 100% evidence | 8.6/20 P/E 229× · PEG — 15% evidence | 11.9/20 RS sector — · RS bench 48.9% · 1Y 54.7%7 of 10 weeks ahead 25% evidence |
| Exact sum: 23.5 + 4.8 + 8.6 + 11.9 = 48.8 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. | ||||||
| 19PNGS Gargi Fashion Jewellery LtdGARGI | 47.4/100Mixed-negative evidence76% evidence | 12.0/35 Revenue 39.5% · PAT 31.3% · OPM change -3.5 pp 95% evidence | 19.9/25 ROCE 33.8% · OPM 19.8% 76% evidence | 9.6/20 P/E 19.9× · PEG — 50% evidence | 5.9/20 RS sector -15.1% · RS bench -19% · 1Y -5.3%6 of 12 weeks ahead to 2026-03-08 70% evidence | |
| Exact sum: 12 + 19.9 + 9.6 + 5.9 = 47.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 20PC Jeweller LtdPCJEWELLER | 47.0/100Mixed-negative evidence100% evidence | TURNING | 19.6/35 Revenue 36.5% · PAT 32.7% · OPM change 10 pp 100% evidence | 6.8/25 ROCE 9.6% · OPM 28% 100% evidence | 16.7/20 P/E 12.1× · PEG 0.26 100% evidence | 3.9/20 RS sector -28.3% · RS bench -8.3% · 1Y -30.4%3 of 12 weeks ahead 100% evidence |
| Exact sum: 19.6 + 6.8 + 16.7 + 3.9 = 47 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 21Radhika Jeweltech LtdRADHIKAJWE | 45.7/100Mixed-negative evidence87% evidence | TURNING | 11.0/35 Revenue 16.9% · PAT 27% · OPM change -6 pp 95% evidence | 18.3/25 ROCE 25.1% · OPM 20% 95% evidence | 11.1/20 P/E 10.3× · PEG — 50% evidence | 5.3/20 RS sector -26.2% · RS bench -5.5% · 1Y -28%2 of 12 weeks ahead 100% evidence |
| Exact sum: 11 + 18.3 + 11.1 + 5.3 = 45.7 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 22Manoj Vaibhav Gems N Jewellers LtdMVGJL | 40.7/100Mixed-negative evidence87% evidence | BASING | 13.1/35 Revenue 21.5% · PAT 22% · OPM change -1 pp 95% evidence | 11.1/25 ROCE 15.6% · OPM 6% 95% evidence | 14.0/20 P/E 6.4× · PEG — 50% evidence | 2.5/20 RS sector -30.2% · RS bench -10.7% · 1Y -27%0 of 12 weeks ahead 100% evidence |
| Exact sum: 13.1 + 11.1 + 14 + 2.5 = 40.7 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity. | ||||||
| 23Rajesh Exports LtdRAJESH | 32.9/100Adverse evidence68% evidence | 18.6/35 Revenue 79.5% · PAT 100% · OPM change 0 pp 71% evidence | 4.3/25 ROCE 1.9% · OPM 0% 76% evidence | 7.0/20 P/E 14.2× · PEG — 50% evidence | 3.0/20 RS sector -30.7% · RS bench -33.9% · 1Y -32.8%1 of 12 weeks ahead to 2026-03-08 70% evidence | |
| Exact sum: 18.6 + 4.3 + 7 + 3 = 32.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 24Asian Star Company LtdASTAR | 20.5/100Adverse evidence87% evidence | ASLEEP | 5.7/35 Revenue -3.8% · PAT -23.3% · OPM change -0.9 pp 95% evidence | 7.1/25 ROCE 3.6% · OPM 2.1% 95% evidence | 6.7/20 P/E 29× · PEG — 50% evidence | 1.0/20 RS sector -29.4% · RS bench -10.2% · 1Y -19.9%1 of 12 weeks ahead 100% evidence |
| Exact sum: 5.7 + 7.1 + 6.7 + 1 = 20.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 25PNGS Reva Diamond Jewellery LimitedPNGSREVA | 59.0/100Thin evidence · provisional43% evidence | TURNING | 22.9/35 Revenue — · PAT — · OPM change 7 pp 45% evidence | 16.6/25 ROCE 22% · OPM 29% 95% evidence | 9.5/20 P/E 21.5× · PEG — 15% evidence | 10.0/20 RS sector — · RS bench — · 1Y —2 of 5 weeks ahead 0% evidence |
| Exact sum: 22.9 + 16.6 + 9.5 + 10 = 59 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. | ||||||
| 26SJ Corporation Ltd504398 | 46.2/100Thin evidence · provisional33% evidence | 19.2/35 Revenue — · PAT — · OPM change 16.7 pp 17% evidence | 6.0/25 ROCE 0.1% · OPM 10.7% 76% evidence | 8.5/20 P/E 776× · PEG — 15% evidence | 12.5/20 RS sector — · RS bench 154.3% · 1Y —3 of 3 weeks ahead 25% evidence | |
| Exact sum: 19.2 + 6 + 8.5 + 12.5 = 46.2 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. | ||||||
Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led NIFTY 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.
Frequently asked questions
What is Uday Jewellery Industries Ltd's share price today?
Uday Jewellery Industries Ltd trades at ₹144, −6.7% over the past year. The company is valued at ₹491 Cr. The stock sits at 54% of its 52-week range of ₹115–₹169, −1.7% versus its 200-day average. On the tape, the price is in a confirmed uptrend, 8 weeks in. — as of 14 August 2026.
What were Uday Jewellery Industries Ltd's latest quarterly results?
Uday Jewellery Industries Ltd reported revenue of ₹226 Cr and net profit of ₹11.0 Cr for the Mar 26 quarter. Revenue rose 113.2% and profit rose 450.0% year on year. Earnings per share were ₹3.17. The operating margin was 7.0%, 3.0 pp higher than a year earlier. — as of 14 August 2026.
What is Uday Jewellery Industries Ltd's revenue?
Uday Jewellery Industries Ltd reported revenue of ₹226 Cr in the Mar 26 quarter, +113.2% year on year. For the full FY26 fiscal year, revenue was ₹726 Cr (+153.0%). Over the last 10 years revenue compounded at 36.6% a year. — as of 14 August 2026.
What is Uday Jewellery Industries Ltd's profit?
Uday Jewellery Industries Ltd earned ₹11.0 Cr of net profit in the Mar 26 quarter, +450.0% year on year — the 4th straight quarter of growth. Full-year FY26 profit was ₹36.0 Cr. The operating margin ran 7.0% in the latest quarter. — as of 14 August 2026.
What is Uday Jewellery Industries Ltd's market cap?
Uday Jewellery Industries Ltd's market capitalisation is ₹491 Cr at a share price of ₹144. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 14 August 2026.
What is Uday Jewellery Industries Ltd's P/E ratio?
Uday Jewellery Industries Ltd trades at a P/E of 13.7×, at the 9th percentile of its own 10-year range, against a long-run median of 32.3×. This is a comparison with the stock's own history, not a value call — as of 14 August 2026.
Does Uday Jewellery Industries Ltd pay a dividend?
Yes — Uday Jewellery Industries Ltd's dividend payout was 5% of profit in FY26, and it recorded a payout in 1 of its last 13 reported fiscal years. This page holds the payout ratio, not a per-share amount. — as of 14 August 2026.
Is Uday Jewellery Industries Ltd overvalued?
On its own history, Uday Jewellery Industries Ltd looks cheap: its P/E of 13.7× has been cheaper only 9% of the time in 10 years (long-run median 32.3×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 14 August 2026.
Is Uday Jewellery Industries Ltd growing?
Yes — Uday Jewellery Industries Ltd is growing: latest-quarter revenue +113.2% year on year, profit +450.0%, and the margin +3.0 pp at 7.0%. The 10-year compound rates are 36.6% (revenue) and 33.5% (profit). The earnings engine currently reads: improving — as of 14 August 2026.
How is Uday Jewellery Industries Ltd performing?
Uday Jewellery Industries Ltd is in a confirmed uptrend, 8 weeks in. Its latest quarter's revenue rose 113.2% and profit rose 450.0% year on year. Against the NIFTY 500 it has been behind on a trailing-13-week view for 7 weeks. This describes what the data did, not a rating. — as of 14 August 2026.
What stage is Uday Jewellery Industries Ltd in?
Mixed — no clean majority across the growth curves, ROCE lifting at 22.0% — the per-curve reads carry the story. The read comes from the last 12 quarters of growth (revenue growth +113.2% latest, profit growth +450.0% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 14 August 2026.
Is Uday Jewellery Industries Ltd in an uptrend?
Yes — the price is in a confirmed uptrend (week 8 of stage 2), trading −1.7% versus its 200-day average and at 54% 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 14 August 2026.
Is Uday Jewellery Industries Ltd beating the market?
Not lately — on a trailing-13-week view Uday Jewellery Industries Ltd is currently behind the NIFTY 500 (7 weeks and counting; last ahead the week of 2026-06-17), the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 10.2 years the stock moved +1,157% against the NIFTY 500's +249% — ahead of the index over the full window. — as of 14 August 2026.
Will Uday Jewellery Industries Ltd's share price go up?
This page publishes no price forecast for Uday Jewellery Industries Ltd. What it measures instead: the share price is ₹144, the price is in a confirmed uptrend 8 weeks in. Its P/E of 13.7× sits at the 9th percentile of its own 10-year range. — as of 14 August 2026.
Who owns Uday Jewellery Industries Ltd?
Promoters hold 74.4% of Uday Jewellery Industries Ltd, foreign institutions null%, domestic institutions null% and the public 25.6% (latest quarter). No holder moved a full point over the last two years — the register is quiet. — as of 14 August 2026.
Does Uday Jewellery Industries Ltd have too much debt?
It is moderate — Uday Jewellery Industries Ltd's debt-to-equity is 0.78, and operating profit covers the interest bill 7×. FY26 borrowings were ₹162 Cr against equity of ₹207 Cr. Read the returns on this page with that leverage in mind — as of 14 August 2026.
What is Uday Jewellery Industries Ltd's capex?
Uday Jewellery Industries Ltd spent ₹13.0 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 ₹9.0 Cr, with ₹0.0 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 14 August 2026.
What is Uday Jewellery Industries Ltd's cash flow?
Uday Jewellery Industries Ltd consumed ₹107 Cr of operating cash in FY26 — cash flowed out rather than in (free cash flow: ₹−116 Cr). Operating cash was negative while the company reported a profit of ₹36.0 Cr. Cash-flow resolution for India is annual. — as of 14 August 2026.
Is Uday Jewellery Industries Ltd's profit real cash?
No — operating cash was negative over the last 3 fiscal years: Uday Jewellery Industries Ltd consumed cash while reporting profit. In FY26, operating cash was ₹−107 Cr against reported profit of ₹36.0 Cr. Cash-flow resolution is annual — as of 14 August 2026.
Where is Uday Jewellery Industries Ltd in its business cycle?
Uday Jewellery Industries Ltd's FY26 operating margin was 7.0%, against a 13-year band of 3.0%–11.0%: mid-band by its own history — neither the peak that precedes mean-reversion nor the trough that precedes recovery. The latest quarter ran 7.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 14 August 2026.
What growth does Uday Jewellery Industries Ltd's price assume?
At its price on 13 June 2026, Uday Jewellery Industries Ltd was priced for profit growth of about 7.6% a year. Profit itself has compounded 33.5% a year over the past 10 years. The figure reads the multiple backwards: the growth a buyer at that price was already paying for. — as of 14 August 2026.
What could break the Uday Jewellery Industries Ltd story?
The sharpest disagreement: profits are rising, but only −202% 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 14 August 2026.
Is Uday Jewellery Industries Ltd a stock worth studying right now?
This is not investment advice. The machine read: Uday Jewellery Industries Ltd is coiled. The quarters are improving, yet the P/E sits at the 9th percentile of its own 10-year range — the business is moving before the market. 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 14 August 2026.