# Utssav CZ Gold Jewels share price today (Utssav CZ Gold Jewels Ltd, NSE: UTSSAV)

> Utssav CZ Gold Jewels share price today: ₹857.20 at the NSE close on 3 November 2026, up 231.3% in a year. Utssav CZ Gold Jewels (NSE: UTSSAV) is worth ₹2,143 crore, trades at a P/E of 36.3 and has closed between ₹188.60 and ₹1,014.25 over the past 52 weeks. > Utssav CZ Gold Jewels Ltd's share price has risen faster than its earnings: +231.3% in a year, against +132.5% for earnings per share. UTSSAV · Diamond, Gems & Jewellery · data as of 3 November 2026. Page: https://www.sectoralpha.in/stocks/utssav-cz-gold-jewels-ltd

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## Key numbers

- Price: ₹857.20 (+231.3% in a year)
- P/E: 36.3× (higher than 79% of the last 2.2 years)
- Revenue (Mar 2026): ₹679 Cr (+87.6% on a year ago)
- Profit (Mar 2026): ₹30.0 Cr (+100.0% on a year ago)
- Operating margin: 7.0% (flat on a year ago)
- ROCE: 29%, FY26
- ROIC: 20.0%, against a 12.0% cost of capital: +8.0 points
- Profit that came in as cash: −147%, last 3 years

The main question: profits are rising, but only −147% of the last 3 years' profit came in as cash from operations. The gap between reported profit and actual cash is the thing to watch. ## What is the Utssav CZ Gold Jewels share price today? Utssav CZ Gold Jewels Ltd's share price was ₹857.20 at the close on 3 November 2026. It has been rising for 25 weeks. That is 77.3% above its average price over the last 200 trading days. Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 36 weeks in a row. In the last 52 weeks it traded between ₹189 and ₹1,014, and at that close it sat 81% of the way up from that low. Over the last 2.2 years the share price moved +573% while the NIFTY 500 moved −3%, so it is ahead of the index over that whole period. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What changed at Utssav CZ Gold Jewels this quarter? 2. Revenue up on a year earlier for 4 quarters in a row (every quarter we can compare) In the March 2026 quarter revenue was ₹679 crore, +87.6% on a year earlier. Why: Revenue rose because more jewellery was sold across India and the company won 112 new retail clients, including chains with several stores. Next results: check how many new clients were added in the first quarter, since management aims for 100 to 200 a year. From the earnings call on 25 May 2026. 3. Profit up on a year earlier for 4 quarters in a row (every quarter we can compare) In the March 2026 quarter profit was ₹30 crore, +100% on a year earlier. Why: Profit rose because higher gold prices gave an extra lift. Next results: check whether the profit margin holds, since the new plain gold jewellery line earns less than the CZ core. From the earnings call on 25 May 2026. ## What are Utssav CZ Gold Jewels' latest quarterly results? For January to March 2026 (the quarter ended 31 March 2026), Utssav CZ Gold Jewels reported revenue of ₹679 crore, up 87.6% from ₹362 crore a year earlier, and a profit of ₹30.0 crore, up 100.0% from ₹15.0 crore. ### Utssav CZ Gold Jewels results: January to March 2026 against a year earlier

| Measure | January to March 2026 | January to March 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹679 crore | ₹362 crore | +87.6% |
| Profit | ₹30.0 crore | ₹15.0 crore | +100.0% |
| Earnings per share | ₹12.27 | ₹6.38 | +92.3% |
| Operating margin | 7.0% | 7.0% | 0.0 points |

The next results, for April to June 2026, were due by 14 August 2026: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter). This page shows them once our weekly data update has read them. Utssav CZ Gold Jewels' management discussed these results on a call held on 25 May 2026; what it said is further down this page. (From the company's reported quarterly results (quarter ended 31 March 2026). Revenue and profit in ₹ crore.)

## What is the Utssav CZ Gold Jewels share price history? Utssav CZ Gold Jewels closed at ₹857.20 on 3 November 2026, up 231.3% from ₹258.70 a year earlier (31 October 2025). Its highest weekly close since August 2024 was ₹1,014.25 on 23 October 2026. ### Utssav CZ Gold Jewels share price: then and now

| When | Close | Change to 3 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 23 Oct 2026 | ₹1,014.25 | −15.5% |
| 1 month ago · 1 Oct 2026 | ₹766.80 | +11.8% |
| 6 months ago · 30 Apr 2026 | ₹246.95 | +247.1% |
| 1 year ago · 31 Oct 2025 | ₹258.70 | +231.3% |
| Earliest and lowest weekly close in our records · 9 Aug 2024 | ₹127.35 | +573.1% |
| Highest weekly close since August 2024, also the 52-week high · 23 Oct 2026 | ₹1,014.25 | −15.5% |
| 52-week low (weekly close) · 13 Mar 2026 | ₹188.60 | +354.5% |

Weekly closing prices. Each change is the move from that price to the 3 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (125 weekly closes from 9 August 2024 to 3 November 2026.)

## What is the latest news on Utssav CZ Gold Jewels? 3 Nov 2026: Utssav CZ Gold Jewels closed at ₹857.20, down 15.5% on the week and up 11.8% on the month. 25 May 2026: Utssav CZ Gold Jewels held its results call for January to March 2026. Management guided: FY27 volume growth 35-40%. ### Earlier

- Results for January to March 2026: Revenue up 87.6% and profit up 100.0% on a year earlier. ## What dividend does Utssav CZ Gold Jewels pay? Utssav CZ Gold Jewels has paid no dividend on the NSE since its first NSE close in our records (9 August 2024), the start of the period we checked. No. Utssav CZ Gold Jewels Ltd paid out 0% of its profit as dividends in each of its last 7 reported years, so there is no payout history to show. That comes from the filed annual statements, not an estimate. (From the NSE corporate-actions record, read 4 November 2026.)

## What did Utssav CZ Gold Jewels management say on the latest results call? On the call for January to March 2026, held on 25 May 2026, Utssav CZ Gold Jewels' management guided: FY27 volume growth 35-40%. > “Once our UAE subsidiary starts, our export sales will jump up to 10-20% immediately”
> Pankaj Jagaghar, Managing Director, on the call for January to March 2026

### What management guided

- FY27 revenue growth approximately 60%. - FY27 profit margin 4-4.5%. - FY27 operating margin 7-8%. - Diamond jewelry revenue ₹200+ crore within 2-3 years. Management’s own plans and goals, from our notes of the call. A plan is not a result. Source: [the call transcript](https://files.tijoristack.ai/concall/transcript/58081-25-May-2026.pdf). (From the call for January to March 2026, 25 May 2026.)

## What could change the Utssav CZ Gold Jewels story? What are the risks? Debt denial (₹0 → ₹125 crore), contradictory hedging claim, receivables misstatement, all in one session. ### The main risks

- : Debt denial (₹0 → ₹125 crore), contradictory hedging claim, receivables misstatement, all in one session. ✓ fact
- : Deliberate ready-stock gold inventory policy produces negative operating cash flow; management declined to commit to improvement. ✓ fact
- : Held inventory unhedged; 15-20% gold price decline compresses revenue base and absolute gross profit. ✓ fact
- : 50% revenue from top-10 clients; no commitment to reduce concentration despite analyst pressure. ✓ fact

(Our read after the latest results, written 31 May 2026.)

## What to watch in Utssav CZ Gold Jewels' next results? When Utssav CZ Gold Jewels reports April to June 2026, these are the 4 checks that show whether the story is still on course. First: New client onboarding pace April to June 2026: management goals 100-200 new clients annually versus H1-implied ~56 per quarter average; Q1 adds fewer than 20 clients would signal deceleration misaligning with growth guidance. - What to check (from the call)
- New client onboarding pace April to June 2026: management goals 100-200 new clients annually versus H1-implied ~56 per quarter average; Q1 adds fewer than 20 clients would signal deceleration misaligning with growth guidance. - Diamond jewelry revenue growth rate and mix: currently 2% of revenue (Rs ~25 crore), aiming for ₹200+ crore within 2-3 years; watch quarterly growth rate and whether it accelerates to support 3-4x yearly growth needed. - Export revenue percentage of total: management claims UAE subsidiary will immediately drive 10-20% mix; verify Q1 and July to September 2026 export percentage versus current 1% to validate timing and magnitude of upswing. - Capacity utilization trajectory: management stated 85% currently aiming for 90% this year then 75% on expanded base; watch whether new product lines and client wins translate to utilization maintenance above 75-80% to validate absorption of new fixed overhead. ## Which stock lists is Utssav CZ Gold Jewels on? Utssav CZ Gold Jewels is on 2 of our India lists: Momentum stocks and Gold & silver stocks. - [Momentum stocks Market cap cr: 2255.1468905406127](https://www.sectoralpha.in/momentum-stocks-india)
- [Gold & silver stocks Group on the list: Jewellery makers and shops](https://www.sectoralpha.in/gold-stocks-india)

## Is Utssav CZ Gold Jewels profitable? Utssav CZ Gold Jewels Ltd earned ₹30.0 Cr of net profit in the Mar 2026 quarter, +100.0% on the same quarter a year earlier. That is the 4th quarter in a row of profit growth. Full-year FY26 profit was ₹59.0 Cr. Over 6 years profit has grown 75.8% a year on average. That is 4.4% of the quarter's revenue. The same quarter a year earlier earned ₹6.0 Cr. For the full year, FY26 profit was ₹59.0 Cr (+136.0% on the year before). Why profit moved: revenue changed +87.6% on a year earlier and the margin moved +0.0 percentage points. Sales did the work, and the margin was about flat. On average over the last four quarters, profit changed +120.7% and revenue +83.4%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit. ## How much revenue does Utssav CZ Gold Jewels make, and is it growing? Utssav CZ Gold Jewels Ltd reported ₹679 Cr of revenue in the Mar 2026 quarter, +87.6% on the same quarter a year earlier. That is the 4th quarter in a row with growth on the year before. Over 6 years it has grown 46.5% a year on average. The last full year, FY26, came in at ₹1,155 Cr. FY26 revenue was ₹1,155 Cr, +78.8% on the year before. Recent pace: the last four quarters grew +83.4% on average, against 46.5% a year over the longer run, so this year is growing faster than its own long-run rate. ## How much of every ₹100 of sales does Utssav CZ Gold Jewels keep? Utssav CZ Gold Jewels Ltd's operating margin was 7.0% in the Mar 2026 quarter, about the same as the same quarter a year ago. Its latest full-year margin is the highest it has ever reported. Across 7 years it has been between 2.9% and 8.0%. The latest quarter is within that range. In the latest quarter it moved +0.0 percentage points on the same quarter a year ago. Why the margin moved: operating margin changed +0.0 percentage points on the year while gross margin changed +2.3 points. So the gain came mostly from the gross margin, which means input costs and prices charged. When margins are at a record, every ratio built on profit looks better than usual, so watch whether they hold. ## Is Utssav CZ Gold Jewels' profit turning into cash? Over the last 3 years Utssav CZ Gold Jewels Ltd's operations used more cash than they brought in, so cash conversion was −147%, a gap worth watching. In FY26 its operations used ₹61.0 Cr of cash, against ₹59.0 Cr of profit. After ₹2.0 Cr of spending on assets, free cash was −₹63.0 Cr: it spent more than its operations brought in. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why −147% of profit came in as cash: the cash cycle got 12 days longer between FY21 and FY26, so more of each rupee of profit waits in the business before it arrives. When less than 70% of profit comes in as cash, it is the thing to watch on this page. What to look at next: less of the profit turns into cash than it should, and the cash cycle is 12 days longer. The next section looks at where the cash is stuck. ## Where does Utssav CZ Gold Jewels' cash go? Utssav CZ Gold Jewels Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 108 days in FY26, up from 96 days in FY21. It spent ₹2.0 Cr on assets over the last 3 years. Customers take 54 days to pay, and stock sits for 55 days on average. At FY26 sales of ₹1,155 Cr, each day of that cycle ties up about ₹3.2 Cr, so roughly ₹342 Cr is tied up in the business at any time. FY26: customers took 54 days to pay and stock sat for 55 days, about 1.8 months of sales sitting as stock, for a full cycle of 108 days, longer than FY21's 96. The full loop: cash goes out to suppliers and production on day 0. Stock sits for 55 days. Customers pay about 54 days after that. Suppliers are paid at 0 days. Together that makes the 108-day cycle. Spending on assets: ₹2.0 Cr over the last 3 years, against ₹3.0 Cr of depreciation (the yearly wear and tear on existing assets). So it is spending about what it takes to replace what wears out, or less. Work still in progress is ₹0.0 Cr (FY26): assets paid for that are not earning yet. In short: cash is getting stuck in the daily cycle, so watch the cycle more than the profit. ## What is Utssav CZ Gold Jewels' P/E ratio, and how does it compare with its own history? Utssav CZ Gold Jewels Ltd's P/E is 36.3×, near the high end of its own history: higher than 79% of past readings. Its usual P/E (the middle reading) is 21.1×, over 2.2 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth. Why the multiple is where it is: over the past year earnings per share moved +132.5% while the price moved +231.3%. The price did better than earnings, which pushed the multiple up within its own range. In short: the multiple is high against its own past, so the earnings trend underneath matters more than the multiple. ## Is the Utssav CZ Gold Jewels business getting better or worse? Utssav CZ Gold Jewels Ltd's business trend cannot be read yet. There are fewer than eight usable quarters of growth figures, so there is not enough history to read the trend. This is based on 4 quarters of 1 measure, with some gaps. Why it matters: with too little history, we say so rather than guess a direction. One or more growth lines have an extreme jump caused by comparing with a near-zero or loss-making quarter. Those jumps are capped before reading and drawn at the edge of the chart, so one odd quarter does not decide the result. There are fewer than eight usable quarters, so this page does not guess a direction from so little history. ## How much does Utssav CZ Gold Jewels earn on its capital? Utssav CZ Gold Jewels Ltd earned a ROCE of 29% in FY26. That is up from a low of 10% in FY21. Its return on capital used (ROIC) is 8.0 percentage points above its cost of capital, so growth here adds value, not just size. It comes from a 5.1% net margin and 2.83× asset turnover (sales divided by assets). Why the return is what it is (FY26): a 5.1% net margin × 2.83× asset turnover × 2.06× leverage (assets divided by equity) ≈ 29.7% on equity. The margin does its share; borrowing is a big part of it. The key test, return on capital used minus the cost of capital: 20.0% − 12.0% = +8.0 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. A gap this wide means each rupee put back into the business creates more than a rupee of value. The 20.0% ROIC above is the latest reading, as reported. The yearly chart below shows FY26 at 24.9%, and the quarterly chart works out each 12-month window from the quarterly figures, so the readings differ by date, not by method. ## Does Utssav CZ Gold Jewels have too much debt? Utssav CZ Gold Jewels Ltd has total debt of ₹186 Cr against shareholder equity of ₹198 Cr as of Mar 2026, so its debt is 0.94× its equity. Year by year, that ratio went from 2.09 in FY24 to 0.94 in FY26. Keep that borrowing in mind when reading the returns on this page. ## What is the Utssav CZ Gold Jewels shareholding pattern? Foreign institutions cut their stake in Utssav CZ Gold Jewels Ltd by 3.0 percentage points over 5 quarters, the biggest change among its owners. Foreign institutions now own 0.0% of the company. Promoters moved +2.0 points over the same period, to 72.5%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Over the last two years: Foreign institutions: −3.0 points over 5 quarters, to 0.0%; Promoters: +2.0 points over 5 quarters, to 72.5%; Domestic institutions: −1.6 points over 5 quarters, to 0.0%. Why the owners changed: foreign institutions drove it (−3.0 points), with the other side taken by promoters (+2.0 points). They reduced their stake. ## How far is Utssav CZ Gold Jewels from balance-sheet trouble? For Utssav CZ Gold Jewels Ltd, the Z-score is 6.18. A Z-score above about 3 is safe and below about 1.8 signals danger, so this is well clear of danger. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. Why it matters: a Z-score of 6.18 is well clear of the danger zone, so the balance sheet is not the risk here. ## How does Utssav CZ Gold Jewels rank in its industry? 63.6 out of 100, rank 24 of 28 in Diamond, Gems & Jewellery, with 47% of the evidence available. It is provisional, so it is ranked below companies with full evidence. Utssav CZ Gold Jewels Ltd scores 63.6 out of 100 against the 28 companies it is compared with in Diamond, Gems & Jewellery, ranking 24. Some evidence is missing, so the score is pulled toward the middle on purpose. The four parts add up to the total exactly: 18.9 + 16.3 + 8.9 + 19.5 = 63.6. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is Utssav CZ Gold Jewels compared with? Utssav CZ Gold Jewels ranks 24 of 28 Diamond, Gems & Jewellery companies on the 4-Factor Sector Score, with 63.6 out of 100. 1. [D.P. Abhushan Ltd](https://www.sectoralpha.in/stocks/dp-abhushan-ltd) DPABHUSHAN · leader · Most evidence points up · 96% evidence 72.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 24.5/35 · Revenue 30.8% · Profit 94.3% · Operating margin change 1 points · 88% evidence Capital efficiency 18.9/25 · ROCE 39.6% · Operating margin 11% · 100% evidence Valuation 12.1/20 · P/E 18.5× · PEG 0.74 · 100% evidence Relative strength 17.3/20 · Lead over its industry 14.3% · Lead over NIFTY 500 53.2% · 1 year 37.4% · 100% evidence · 12 of 12 weeks ahead Exact sum: 24.5 + 18.9 + 12.1 + 17.3 = 72.8 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 2. [Sky Gold & Diamonds Ltd](https://www.sectoralpha.in/stocks/sky-gold-diamonds-ltd) SKYGOLD · leader · Most evidence points up · 100% evidence 71.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 29.1/35 · Revenue 73.1% · Profit 100% · Operating margin change 1 points · 100% evidence Capital efficiency 18.8/25 · ROCE 26.9% · Operating margin 8% · 100% evidence Valuation 6.9/20 · P/E 34.1× · PEG 1.71 · 100% evidence Relative strength 16.3/20 · Lead over its industry 36.4% · Lead over NIFTY 500 76.3% · 1 year 147.5% · 100% evidence · 12 of 12 weeks ahead Exact sum: 29.1 + 18.8 + 6.9 + 16.3 = 71.1 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 3. [PNGS Reva Diamond Jewellery Limited](https://www.sectoralpha.in/stocks/pngs-reva-diamond-jewellery-limited) PNGSREVA · breaking out · Most evidence points up · 63% evidence 70.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 39.2/43.75 · Revenue 100% · Profit 100% · Operating margin change 5 points · 100% evidence Capital efficiency 19.0/31.25 · ROCE 22% · Operating margin 24% · 100% evidence Valuation 12.2/25 · P/E 20.8× · PEG n/a · 15% evidence Relative strength: no reading this week · its 20 points are shared across the other three Exact sum: 39.2 + 19 + 12.2 = 70.4 (no relative-strength reading this week; its 20 points are shared across the other three) · What this means: There is no relative-strength reading for this week, so the score is built from earnings, capital efficiency and valuation alone. 4. [Shanti Gold International Ltd](https://www.sectoralpha.in/stocks/shanti-gold-international-ltd) SHANTIGOLD · breaking out · Most evidence points up · 71% evidence 67.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 23.1/35 · Revenue 100% · Profit 100% · Operating margin change -3 points · 83% evidence Capital efficiency 18.5/25 · ROCE 33.9% · Operating margin 10% · 76% evidence Valuation 10.9/20 · P/E 12.2× · PEG n/a · 15% evidence Relative strength 15.3/20 · Lead over its industry 1.1% · Lead over NIFTY 500 35% · 1 year 24% · 100% evidence · 12 of 12 weeks ahead Exact sum: 23.1 + 18.5 + 10.9 + 15.3 = 67.8 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 5. [Tribhovandas Bhimji Zaveri Ltd](https://www.sectoralpha.in/stocks/tribhovandas-bhimji-zaveri-ltd) TBZ · leader · Most evidence points up · 100% evidence 67.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 21.6/35 · Revenue 24.1% · Profit 100% · Operating margin change -2 points · 100% evidence Capital efficiency 15.2/25 · ROCE 21.9% · Operating margin 7% · 100% evidence Valuation 10.9/20 · P/E 20.6× · PEG 0.72 · 100% evidence Relative strength 19.5/20 · Lead over its industry 100.6% · Lead over NIFTY 500 148.9% · 1 year 237.9% · 100% evidence · 12 of 12 weeks ahead Exact sum: 21.6 + 15.2 + 10.9 + 19.5 = 67.2 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 6. [Khazanchi Jewellers Ltd](https://www.sectoralpha.in/stocks/khazanchi-jewellers-ltd) KHAZANCHI · breaking out · Most evidence points up · 71% evidence 66.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 26.5/35 · Revenue 24.4% · Profit 100% · Operating margin change 2 points · 88% evidence Capital efficiency 16.3/25 · ROCE 34.8% · Operating margin 7% · 100% evidence Valuation 13.4/20 · P/E 17.5× · PEG n/a · 50% evidence Relative strength 10.6/20 · Lead over its industry n/a · Lead over NIFTY 500 6.8% · 1 year 7.3% · 25% evidence · 5 of 5 weeks ahead Exact sum: 26.5 + 16.3 + 13.4 + 10.6 = 66.8 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 7. [PC Jeweller Ltd](https://www.sectoralpha.in/stocks/pc-jeweller-ltd) PCJEWELLER · breaking out · Evidence leans up · 100% evidence 62.6 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 20.9/35 · Revenue 29.3% · Profit 45.7% · Operating margin change 7 points · 100% evidence Capital efficiency 10.3/25 · ROCE 9.6% · Operating margin 29% · 100% evidence Valuation 13.2/20 · P/E 16.9× · PEG 0.32 · 100% evidence Relative strength 18.2/20 · Lead over its industry 14.7% · Lead over NIFTY 500 54.2% · 1 year 33.2% · 100% evidence · 12 of 12 weeks ahead Exact sum: 20.9 + 10.3 + 13.2 + 18.2 = 62.6 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 8. [RBZ Jewellers Ltd](https://www.sectoralpha.in/stocks/rbz-jewellers-ltd) RBZJEWEL · breaking out · Evidence leans up · 96% evidence 61.7 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 18.7/35 · Revenue 30.3% · Profit 54% · Operating margin change -2.3 points · 88% evidence Capital efficiency 14.6/25 · ROCE 22% · Operating margin 14.8% · 100% evidence Valuation 16.4/20 · P/E 12.2× · PEG 0.23 · 100% evidence Relative strength 12.0/20 · Lead over its industry -8.2% · Lead over NIFTY 500 24.1% · 1 year 16.7% · 100% evidence · 12 of 12 weeks ahead Exact sum: 18.7 + 14.6 + 16.4 + 12 = 61.7 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 9. [Titan Company Ltd](https://www.sectoralpha.in/stocks/titan-company-ltd) TITAN · losing its lead · Evidence leans up · 96% evidence 56.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 26.0/35 · Revenue 45% · Profit 55.1% · Operating margin change 3 points · 88% evidence Capital efficiency 14.1/25 · ROCE 20.5% · Operating margin 14% · 100% evidence Valuation 9.8/20 · P/E 67.5× · PEG 1.43 · 100% evidence Relative strength 6.9/20 · Lead over its industry -21.5% · Lead over NIFTY 500 7.2% · 1 year 18.8% · 100% evidence · 8 of 12 weeks ahead Exact sum: 26 + 14.1 + 9.8 + 6.9 = 56.8 · What this means: Earnings are strong; relative strength in its sector is -21.5% and the one-year return is 18.8%. 10. [Thangamayil Jewellery Ltd](https://www.sectoralpha.in/stocks/thangamayil-jewellery-ltd) THANGAMAYL · quiet · Evidence leans up · 96% evidence 56.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 25.8/35 · Revenue 83.2% · Profit 100% · Operating margin change -1 points · 88% evidence Capital efficiency 14.7/25 · ROCE 25.5% · Operating margin 5% · 100% evidence Valuation 9.5/20 · P/E 35.3× · PEG 0.78 · 100% evidence Relative strength 6.4/20 · Lead over its industry -20.4% · Lead over NIFTY 500 7% · 1 year 105.3% · 100% evidence · 3 of 12 weeks ahead Exact sum: 25.8 + 14.7 + 9.5 + 6.4 = 56.4 · What this means: Earnings are strong; relative strength in its sector is -20.4% and the one-year return is 105.3%. 11. [Senco Gold Ltd](https://www.sectoralpha.in/stocks/senco-gold-ltd) SENCO · quiet · Evidence leans up · 96% evidence 53.0 out of 100 Growth Capital Valuation Relative
12. [Shringar House of Mangalsutra Ltd](https://www.sectoralpha.in/stocks/shringar-house-of-mangalsutra-ltd) SHRINGARMS · breaking out · Evidence leans up · 73% evidence 52.1 out of 100 Growth Capital Valuation Relative
13. [P N Gadgil Jewellers Ltd](https://www.sectoralpha.in/stocks/p-n-gadgil-jewellers-ltd) PNGJL · quiet · Evidence leans up · 93% evidence 52.0 out of 100 Growth Capital Valuation Relative
14. [Kalyan Jewellers India Ltd](https://www.sectoralpha.in/stocks/kalyan-jewellers-india-ltd) KALYANKJIL · losing its lead · Evidence leans down · 96% evidence 49.8 out of 100 Growth Capital Valuation Relative
15. [PNGS Gargi Fashion Jewellery Ltd](https://www.sectoralpha.in/stocks/pngs-gargi-fashion-jewellery-ltd) basing · Evidence leans down · 72% evidence 48.0 out of 100 Growth Capital Valuation Relative
16. [Motisons Jewellers Ltd](https://www.sectoralpha.in/stocks/motisons-jewellers-ltd) MOTISONS · breaking out · Evidence leans down · 96% evidence 47.9 out of 100 Growth Capital Valuation Relative
17. [Bluestone Jewellery & Lifestyle Ltd](https://www.sectoralpha.in/stocks/bluestone-jewellery-lifestyle-ltd) BLUESTONE · losing its lead · Too little evidence to rank firmly · 59% evidence 46.9 out of 100 Growth Capital Valuation Relative
18. [Manoj Vaibhav Gems N Jewellers Ltd](https://www.sectoralpha.in/stocks/manoj-vaibhav-gems-n-jewellers-ltd) MVGJL · losing its lead · Evidence leans down · 96% evidence 45.8 out of 100 Growth Capital Valuation Relative
19. [Radhika Jeweltech Ltd](https://www.sectoralpha.in/stocks/radhika-jeweltech-ltd) RADHIKAJWE · quiet · Evidence leans down · 96% evidence 45.6 out of 100 Growth Capital Valuation Relative
20. [Vaibhav Global Ltd](https://www.sectoralpha.in/stocks/vaibhav-global-ltd) VAIBHAVGBL · quiet · Evidence leans down · 100% evidence 43.7 out of 100 Growth Capital Valuation Relative
21. [SJ Corporation Ltd](https://www.sectoralpha.in/stocks/sj-corporation-ltd) breaking out · Too little evidence to rank firmly · 57% evidence 42.4 out of 100 Growth Capital Valuation Relative
22. [Rajesh Exports Ltd](https://www.sectoralpha.in/stocks/rajesh-exports-ltd) RAJESHEXPO · quiet · Evidence leans down · 88% evidence 36.7 out of 100 Growth Capital Valuation Relative
23. [Asian Star Company Ltd](https://www.sectoralpha.in/stocks/asian-star-company-ltd) ASTAR · turning · Most evidence points down · 78% evidence 28.4 out of 100 Growth Capital Valuation Relative
24. Utssav CZ Gold Jewels Ltd this page UTSSAV · leader · Too little evidence to rank firmly · 47% evidence 63.6 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 18.9/35 · Revenue n/a · Profit n/a · Operating margin change 0 points · 15% evidence Capital efficiency 16.3/25 · ROCE 28.8% · Operating margin 7% · 75% evidence Valuation 8.9/20 · P/E 39.6× · PEG n/a · 15% evidence Relative strength 19.5/20 · Lead over its industry 104% · Lead over NIFTY 500 156.8% · 1 year 261.4% · 100% evidence · 12 of 12 weeks ahead Exact sum: 18.9 + 16.3 + 8.9 + 19.5 = 63.6 · What this means: Some evidence is missing, so the score is pulled toward the middle on purpose. 25. Uday Jewellery Industries Ltd Too little evidence to rank firmly · 47% evidence 62.1 out of 100 Growth Capital Valuation Relative
26. [Advit Jewels Ltd](https://www.sectoralpha.in/stocks/advit-jewels-ltd) RAMBHAJO · turning · Too little evidence to rank firmly · 45% evidence 58.9 out of 100 Growth Capital Valuation Relative
27. [Grover Jewells Ltd](https://www.sectoralpha.in/stocks/grover-jewells-ltd) GJL · Too little evidence to rank firmly · 34% evidence 52.9 out of 100 Growth Capital Valuation Relative
28. [Golkunda Diamonds & Jewellery Ltd](https://www.sectoralpha.in/stocks/golkunda-diamonds-jewellery-ltd) Too little evidence to rank firmly · 43% evidence 45.8 out of 100 Growth Capital Valuation Relative

Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. 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 path the industry 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 growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Diamond, Gems & Jewellery](https://www.sectoralpha.in/sectors/diamond-gems-jewellery), all 28 compared on one page. ## Which companies are close to Utssav CZ Gold Jewels in size? Utssav CZ Gold Jewels is the 14th largest of 27 Diamond, Gems & Jewellery companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: Shringar House of Mangalsutra, Vaibhav Global and Rajesh Exports. Just below it: Shanti Gold International, PNGS Reva Diamond Jewellery and Khazanchi Jewellers. ### Diamond, Gems & Jewellery companies close in size

1. [Shringar House of Mangalsutra Ltd](https://www.sectoralpha.in/stocks/shringar-house-of-mangalsutra-ltd) ₹2,638 crore
2. [Vaibhav Global Ltd](https://www.sectoralpha.in/stocks/vaibhav-global-ltd) ₹2,633 crore
3. [Rajesh Exports Ltd](https://www.sectoralpha.in/stocks/rajesh-exports-ltd) ₹2,412 crore
4. Utssav CZ Gold Jewels Ltd ₹2,337 crore
5. [Shanti Gold International Ltd](https://www.sectoralpha.in/stocks/shanti-gold-international-ltd) ₹2,266 crore
6. [PNGS Reva Diamond Jewellery Limited](https://www.sectoralpha.in/stocks/pngs-reva-diamond-jewellery-limited) ₹1,975 crore
7. [Khazanchi Jewellers Ltd](https://www.sectoralpha.in/stocks/khazanchi-jewellers-ltd) ₹1,786 crore

[All 27 Diamond, Gems & Jewellery companies, largest first](https://www.sectoralpha.in/sectors/diamond-gems-jewellery#all-companies)

### Companies close in size in other industries

1. [Oriana Power Ltd](https://www.sectoralpha.in/stocks/oriana-power-ltd) ₹2,344 crore · Solar EPC
2. [Fredun Pharmaceuticals Ltd](https://www.sectoralpha.in/stocks/fredun-pharmaceuticals-ltd) ₹2,341 crore · Pharma - Formulators
3. Utssav CZ Gold Jewels Ltd ₹2,337 crore
4. [M M Forgings Ltd](https://www.sectoralpha.in/stocks/m-m-forgings-ltd) ₹2,332 crore · Castings, Forgings & Fastners
5. [Veedol Corporation Ltd](https://www.sectoralpha.in/stocks/veedol-corporation-ltd) ₹2,328 crore · Lubricants

## What else do people ask about Utssav CZ Gold Jewels? ### What is Utssav CZ Gold Jewels's share price today? Utssav CZ Gold Jewels Ltd's share price is ₹857.20, +231.3% over the past year. The whole company is worth ₹2,143 Cr on the market. In the last 52 weeks it traded between ₹189 to ₹1,014; today it is 81% of the way up from the low, 77.3% above its 200-day average (as of 3 November 2026). ### What were Utssav CZ Gold Jewels's latest quarterly results? Utssav CZ Gold Jewels Ltd reported revenue of ₹679 Cr and net profit of ₹30.0 Cr for the Mar 2026 quarter. Revenue rose 87.6% and profit rose 100.0% compared with a year earlier. Earnings per share were ₹12.27 (as of 3 November 2026). ### What is Utssav CZ Gold Jewels's market cap? Utssav CZ Gold Jewels Ltd's market capitalisation is ₹2,143 Cr at a share price of ₹857.20. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 3 November 2026). ### How is Utssav CZ Gold Jewels performing? Utssav CZ Gold Jewels Ltd's share price has been rising for 25 weeks. In its latest quarter, revenue rose 87.6% and profit rose 100.0% compared with a year earlier. Over the past 13 weeks it has done better than the NIFTY 500, for 36 weeks running (as of 3 November 2026). ### Will Utssav CZ Gold Jewels's share price go up? This page does not forecast Utssav CZ Gold Jewels Ltd's share price. What it shows instead: the share price is ₹857.20, and it has been rising for 25 weeks. Its P/E of 36.3× is higher than 79% of its own last 2 years (as of 3 November 2026). ### Who owns Utssav CZ Gold Jewels? Promoters own 72.5% of Utssav CZ Gold Jewels Ltd, foreign institutions 0.0%, domestic institutions 0.0% and the public 27.4% (latest quarter). The biggest change over the last two years: Foreign institutions cut their stake by 3.0 percentage points over 5 quarters (as of 3 November 2026). ### Where is Utssav CZ Gold Jewels in its business cycle? Utssav CZ Gold Jewels Ltd's FY26 operating margin was 8.0%, against a 7-year range of 2.9% to 8.0%: the top of its range, a record year. When profit is at a record, every ratio looks better than usual, and the story depends on margins staying high. The latest quarter was 7.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 3 November 2026). ### What could break the Utssav CZ Gold Jewels story? The main question: profits are rising, but only −147% of the last 3 years' profit came in as cash from operations. The gap between reported profit and actual cash is the thing to watch. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 3 November 2026). ### Is Utssav CZ Gold Jewels a stock worth studying right now? What the numbers show: Utssav CZ Gold Jewels Ltd's share price has risen faster than its earnings: +231.3% in a year, against +132.5% for earnings per share. The main open question: whether the cash starts to follow the profit. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 3 November 2026). ### Is there a Utssav CZ Gold Jewels share price forecast for 2026? What management itself guided: FY27 volume growth 35-40%. What would change the story: Debt denial (₹0 → ₹125 crore), contradictory hedging claim, receivables misstatement, all in one session. ## Lists

- Momentum stocks: https://www.sectoralpha.in/momentum-stocks-india
- Gold & silver stocks: https://www.sectoralpha.in/gold-stocks-india

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