---
title: "Utssav CZ Gold Jewels Ltd (UTSSAV) — Share Price, Financials & Analysis"
symbol: "UTSSAV"
company: "Utssav CZ Gold Jewels Ltd"
canonical: "https://tapetide.com/stocks/UTSSAV"
isin: "INE06IJ01010"
nse_symbol: "UTSSAV"
sector: "Consumer Discretionary"
industry: "Consumer Durables"
market_cap_cr: 1222.01
generated_at: "2026-09-13T18:25:21.474Z"
---

# Utssav CZ Gold Jewels Ltd (UTSSAV)

Canonical page: https://tapetide.com/stocks/UTSSAV

## Company

- **NSE Symbol:** UTSSAV
- **ISIN:** INE06IJ01010
- **Sector:** Consumer Discretionary
- **Industry:** Consumer Durables
- **Macro Sector:** Consumer Discretionary
- **Stock Type:** EQUITY
- **Listed Since:** 2024-08-07
- **Face Value:** ₹10
- **F&O Eligible:** No
- **Website:** utssavjewels.com

## About

Incorporated in 2007, Utssav CZ Gold 
Jewels Ltd in the business of Jewellery 
made of precious metals and semiprecious 
stones[1]

## Latest Price

- **Price:** ₹531.45
- **Change:** +16.25 (+3.15%)
- **Open:** ₹517
- **Day High:** ₹544.95
- **Day Low:** ₹506.05
- **Previous Close:** ₹515.2
- **Volume:** 80400
- **As Of:** 2026-09-11T09:59:54+00:00

## Key Fundamentals

Observed at 2026-09-11T04:43:41.231460Z.

- **Market Cap:** ₹1222.01 Cr
- **Classification:** SME
- **P/E (reported):** 21.1
- **Book Value:** ₹80
- **Price to Book:** 6.44
- **Dividend Yield:** 0%
- **ROE:** 29.84%
- **ROCE:** 46.28%
- **Debt to Equity:** 0.94
- **Revenue (yearly):** ₹1157.5 Cr
- **Net Income:** ₹59.1 Cr
- **EBITDA:** ₹93.7 Cr
- **52-Week High:** ₹568
- **52-Week Low:** ₹160.05
- **RSI (14):** 61.52

## Tapetide Score

- **Score:** 57 / 100
- **Score date:** 2026-09-04
- **Archetype:** Priced for Perfection
- **What it means:** The business scores well but the multiple leaves little room for error. The debate here is about the price, not the company; small disappointments tend to cost more at rich valuations.
- **Pillar profile:** Quality: Good · Valuation: Expensive · Momentum: Rising
- **Percentile:** 77.8 (of 4473 scored stocks)
- **Confidence:** 88%
- **Data coverage:** 76%

| Pillar | Score | Weight |
| --- | --- | --- |
| financial health | 46.69 | 9% |
| growth | 98.9 | 9% |
| momentum | 97.98 | 12% |
| ownership | 54.58 | 24% |
| quality | 72.94 | 22% |
| valuation | 38.19 | 24% |

The Tapetide Score is decision-support only, not investment advice.

## Key Insights

### Strengths

- Company has delivered good profit growth of 105% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 35.6%
- Promoter holding has increased by 2.25% over last quarter.

### Weaknesses

- Though the company is reporting repeated profits, it is not paying out dividend
- Company might be capitalizing the interest cost

## Growth Rates

| Metric | 1Y | 3Y | 5Y |
| --- | --- | --- | --- |
| cash flow growth | 31.91% | -990.32% | — |
| ebitda margin growth | 30.02% | 20.9% | 50.84% |
| net income growth | 135.46% | 112% | 105% |
| revenue growth | 78.71% | 69% | 57% |
| roce | 62.1% | -15.82% | 38.69% |
| roe | 51.01% | 28.69% | 34.84% |

## Financial Statements

### Quarterly Results

All figures in ₹ crore unless the row name says otherwise.

| Item | Sep 2023 | Mar 2024 | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- |
| Sales | 156 | 184 | 285 | 362 | 475 | 679 |
| Expenses | 147 | 171 | 269 | 338 | 431 | 632 |
| Operating Profit | 9 | 13 | 15 | 24 | 44 | 47 |
| OPM % | 5 | 7 | 5 | 7 | 9 | 7 |
| Other Income | 2 | 0 | 0 | 1 | 1 | 2 |
| Interest | 2 | 3 | 2 | 4 | 5 | 7 |
| Depreciation | 0 | 0 | 0 | 1 | 1 | 1 |
| Profit before tax | 8 | 9 | 13 | 20 | 39 | 41 |
| Tax % | 19 | 31 | 26 | 23 | 25 | 27 |
| Net Profit | 7 | 6 | 10 | 15 | 29 | 30 |
| EPS in Rs | 15.79 | 3.7 | 4.14 | 6.38 | 12.18 | 12.27 |

### Profit & Loss

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Sales | 117 | 120 | 123 | 238 | 340 | 646 | 1155 |
| Expenses | 113 | 117 | 117 | 226 | 319 | 607 | 1064 |
| Operating Profit | 4 | 4 | 6 | 12 | 21 | 40 | 91 |
| OPM % | 3.7 | 2.9 | 5 | 5 | 6 | 6 | 8 |
| Other Income | 0 | 0 | 0 | 2 | 2 | 1 | 3 |
| Interest | 1 | 1 | 2 | 4 | 5 | 6 | 13 |
| Depreciation | 0 | 0 | 0 | 1 | 1 | 1 | 1 |
| Profit before tax | 3 | 2 | 4 | 10 | 17 | 33 | 80 |
| Tax % | 25 | 26 | 21 | 26 | 25 | 24 | 26 |
| Net Profit | 2 | 2 | 3 | 7 | 13 | 25 | 59 |
| EPS in Rs | 4.93 | 3.86 | 7.95 | 17.02 | 7.65 | 10.52 | 24.46 |
| Dividend Payout % | 0 | 0 | 0 | 0 | 0 | 0 | 0 |

### Balance Sheet

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Equity Capital | 4 | 4 | 4 | 4 | 17 | 24 | 24 |
| Reserves | 6 | 8 | 11 | 18 | 18 | 103 | 174 |
| Borrowings | 15 | 30 | 36 | 50 | 73 | 130 | 186 |
| Other Liabilities | 3 | 2 | 5 | 10 | 13 | 13 | 24 |
| Total Liabilities | 28 | 44 | 56 | 82 | 121 | 270 | 408 |
| Fixed Assets | 8 | 9 | 10 | 10 | 12 | 8 | 9 |
| CWIP | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Assets | 20 | 35 | 46 | 72 | 110 | 261 | 400 |
| Total Assets | 28 | 44 | 56 | 82 | 121 | 270 | 408 |

### Cash Flow

All figures in ₹ crore unless the row name says otherwise.

| Item | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Cash from Operating Activity | 3 | -14 | -2 | -12 | 7 | -89 | -61 |
| Cash from Investing Activity | 0 | 0 | -2 | 1 | -1 | 3 | 0 |
| Cash from Financing Activity | -3 | 14 | 4 | 10 | 19 | 118 | 56 |
| Net Cash Flow | -1 | 0 | 0 | 0 | 24 | 32 | -5 |
| Free Cash Flow | 3 | -14 | -4 | -10 | 5 | -88 | -62 |
| CFO/OP | 82 | -397 | -18 | -74 | 52 | -205 | -44 |

### Ratios

| Item | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| Debtor Days | 39 | 65 | 67 | 48 | 61 | 62 | 54 |
| Inventory Days | 16 | 32 | 62 | 39 | 25 | 51 | 55 |
| Days Payable | 3 | 1 | 1 | 0 | 0 | 1 | 0 |
| Cash Conversion Cycle | 51 | 96 | 128 | 87 | 86 | 112 | 108 |
| Working Capital Days | 13 | 55 | 49 | 33 | 4 | 41 | 44 |
| ROCE % | — | 10 | 13 | 20 | 24 | 22 | 29 |

## Shareholding Pattern

### Quarterly

| Category | Sep 2024 | Mar 2025 | Sep 2025 | Mar 2026 |
| --- | --- | --- | --- | --- |
| Promoters | 70.52% | 70.52% | 69.57% | 70.3% |
| FIIs | 2.98% | 1.34% | 0% | 0% |
| DIIs | 0% | 0% | 0% | 0% |
| Government | 0% | 0% | 0% | 0% |
| Public | 20.8% | 22.5% | 24.44% | 23.53% |
| Others | 5.7% | 5.64% | 5.99% | 6.17% |
| No. of Shareholders | 1762 | 2414 | 2321 | 2301 |

## Technical Indicators

Derived from daily closing prices and recomputed each trading session; values move with the market.

- **Overall Signal:** Strong Buy
- **Buy / Neutral / Sell:** 13 / 3 / 3

### Moving Averages — summary: **Strong Buy**

| Indicator | Value | Signal |
| --- | --- | --- |
| SMA (10) | 473.67 | Buy |
| EMA (10) | 487.35 | Buy |
| SMA (20) | 473.39 | Buy |
| EMA (20) | 482.17 | Buy |
| SMA (50) | 493.62 | Buy |
| EMA (50) | 466.57 | Buy |
| SMA (100) | 402.47 | Buy |
| EMA (100) | 416.06 | Buy |
| SMA (200) | 309.88 | Buy |
| EMA (200) | 349.52 | Buy |

### Oscillators — summary: **Neutral**

| Indicator | Value | Signal |
| --- | --- | --- |
| RSI (14) | 64.99 | Neutral |
| MACD (12,26,9) | 3.44 | Buy |
| Stochastic (14,3,3) | 84.21 | Sell |
| ADX (14) | 29.23 | Buy |
| Williams %R (14) | -12.51 | Sell |
| ATR (14) | 21.46 | High Volatility |
| ROC (12) | 18.59 | Buy |
| Stoch RSI (14) | 100 | Sell |
| UO (7,14,28) | 61.49 | Neutral |

## Filings & Documents

### Other Documents

| Date | Document |
| --- | --- |
| 9 March 2026 - Virtual investor summit on March 6, 2026 with Arihant Capital Markets; no UPSI disclosed. | [Updates 9 March 2026 - Virtual investor summit on March 6, 2026 with Arihant Capital Markets; no UPSI disclosed.](https://nsearchives.nseindia.com/corporate/UTSSAV_09032026145550_Reg_30_Disclosure_Signed.pdf) |
| 9 Jul - Regulation 74(5) certificate filed for quarter ended June 30, 2026; no rematerialisation requests. | [Certificate under SEBI (Depositories and Participants) Regulations, 2018 9 Jul - Regulation 74(5) certificate filed for quarter ended June 30, 2026; no rematerialisation requests.](https://nsearchives.nseindia.com/corporate/UTSSAV_09072026163038_Utssav_Reg_74_5__Signed.pdf) |
| 7 July 2026 - Board approved wholly owned subsidiary Utssav Gold And Diamond Private Limited; expected incorporation by July 31, 2026, for Rs1,00,000. | [Outcome of Board Meeting 7 July 2026 - Board approved wholly owned subsidiary Utssav Gold And Diamond Private Limited; expected incorporation by July 31, 2026, for Rs1,00,000.](https://nsearchives.nseindia.com/corporate/UTSSAV_07072026154059_Utssav_Outcome_07072026_Signed.pdf) |
| 7 July 2026 - Board approved incorporation of 100% subsidiary Utssav Gold And Diamond Private Limited; expected by July 31, 2026. | [General Updates 7 July 2026 - Board approved incorporation of 100% subsidiary Utssav Gold And Diamond Private Limited; expected by July 31, 2026.](https://nsearchives.nseindia.com/corporate/UTSSAV_07072026160342_Utssav_Outcome_07072026_Signed.pdf) |
| 7 Aug - Board allotted 8.5 lakh shares on warrant conversion, raising Rs.14.15 crore; capital increased to Rs.24.998 crore. | [Outcome of Board Meeting 7 Aug - Board allotted 8.5 lakh shares on warrant conversion, raising Rs.14.15 crore; capital increased to Rs.24.998 crore.](https://nsearchives.nseindia.com/corporate/UTSSAV_07082026134843_OUTCOME_Final_Signed_all.pdf) |
| 7 April 2026 - Submitted Regulation 74(5) certificate for quarter ended March 31, 2026; no rematerialisation requests received. | [Certificate under SEBI (Depositories and Participants) Regulations, 2018 7 April 2026 - Submitted Regulation 74(5) certificate for quarter ended March 31, 2026; no rematerialisation requests received.](https://nsearchives.nseindia.com/corporate/UTSSAV_07042026154100_Disclosure_under_Reg_74_5_.pdf) |
| 31 Aug - 19th AGM on September 24, 2026 via VC/OAVM; FY26 financials adoption and Hitesh Jagdish Chhajed reappointment. | [Shareholders meeting 31 Aug - 19th AGM on September 24, 2026 via VC/OAVM; FY26 financials adoption and Hitesh Jagdish Chhajed reappointment.](https://nsearchives.nseindia.com/corporate/UTSSAV_31082026153608_Utssav_Notice_AGM_FY_2025-26.pdf) |
| 30 June 2026 - Management participated in InveStar Conclave virtual investor meeting on June 29, 2026; no UPSI shared. | [Analysts/Institutional Investor Meet/Con. Call Updates 30 June 2026 - Management participated in InveStar Conclave virtual investor meeting on June 29, 2026; no UPSI shared.](https://nsearchives.nseindia.com/corporate/UTSSAV_30062026151516_Reg_30_Outcome_Signed.pdf) |
| 30 Jul - Utssav CZ Gold Jewels incorporated wholly owned subsidiary Utssav Gold and Diamond Private Limited on July 29, 2026. | [General Updates 30 Jul - Utssav CZ Gold Jewels incorporated wholly owned subsidiary Utssav Gold and Diamond Private Limited on July 29, 2026.](https://nsearchives.nseindia.com/corporate/UTSSAV_30072026152837_Utssav_Disclosure_under_Reg_30.pdf) |
| 3 June 2026 - Utssav CZ Gold Jewels Limited has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and … | [Disclosure under SEBI Takeover Regulations 3 June 2026 - Utssav CZ Gold Jewels Limited has Submitted to the Exchange a copy of Disclosure under Regulation 31(4) of the SEBI (Substantial Acquisition of Shares and …](https://nsearchives.nseindia.com/corporate/team_sandeshc_20052026121638_UTSSAV.pdf) |

### Annual Reports

| Date | Document |
| --- | --- |
| from nse | [Annual Report 2026 from nse](https://archives.nseindia.com/annual_reports/SME_AR_30872_UTSSAV_2025_2026_A_5334735_31082026153838.pdf) |
| from nse | [Annual Report 2025 from nse](https://archives.nseindia.com/annual_reports/SME_AR_28857_UTSSAV_2024_2025_A_2710730_06092025215754.pdf) |
| from nse | [Annual Report 2024 from nse](https://archives.nseindia.com/annual_reports/SME_AR_26221_UTSSAV_2023_2024_09092024155848.pdf) |

### Earnings Call Documents

| Date | Document |
| --- | --- |
| Nov 2025 | [Concall - Nov 2025](https://nsearchives.nseindia.com/corporate/UTSSAV_03112025164345_Utssav_Transcript.pdf) |

---

Provenance differs by section. Financial statements, shareholding and filings are as reported in company disclosures to NSE/BSE/SEBI. Price, volume and 52-week levels are exchange market data. Technical indicators are computed by Tapetide from daily closing prices. The Tapetide Score is Tapetide's own analysis. Analyst ratings are third-party estimates, not company statements. All figures are for research and information only and are not investment advice. Generated 2026-09-13T18:25:21.474Z.