Jewellery Stocks Reach Record High Amid Profit-Booking Activity on Indian Stock Market

Utssav CZ Gold Jewels Surges to Record High on Strong Earnings

On Tuesday, 26 May, Utssav CZ Gold Jewels share price skyrocketed by 5% to reach a new record high of ₹303.80 apiece on the NSE, following the company's robust financial performance for both the second half and full financial year FY26. The jewellery maker reported a significant increase in revenue and profitability, driven by strong demand during the festive and wedding seasons.

Key Financial Highlights

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Utssav CZ Gold Jewels posted a total income of ₹681 crore in H2 FY26, representing a year-on-year increase of 87.8%. The company's EBITDA nearly doubled to ₹48.67 crore, with margins improving by 40 basis points to 7.15%. Net profit rose 95.2% YoY to ₹29.64 crore, supported by healthy demand during the festive and wedding seasons. For the full year FY26, the company reported a total income of ₹1,157.46 crore, up 78.7% year-on-year. EBITDA jumped 132.3% to ₹93.7 crore, while EBITDA margin expanded by 187 basis points to 8.1%. Profit after tax surged 135.7% to ₹59.06 crore, with earnings per share rising 105.9% to ₹23.95.

According to Pankajkumar Jagawat, the company's strong growth was driven by robust festive and wedding-season demand, repeat business from existing customers, and the addition of 112 new clients during the year. Utssav strengthened its product portfolio through higher contributions from natural diamond jewellery and the launch of new product lines in plain gold and lab-grown diamonds, which improved the product mix and realisations. The company also incorporated a wholly owned subsidiary in the UAE, a move expected to enhance trade efficiencies and support international expansion.

Despite volatility in gold prices, the company maintained strong operational performance through its focus on lightweight jewellery designs, efficient inventory management, and customer-centric innovation. Management remains optimistic about future growth, citing strong retailer relationships, expanding B2B reach, deeper market penetration, and integrated manufacturing and design capabilities as key drivers for sustained growth.

Share Price Performance

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Utssav CZ Gold Jewels share price today opened at ₹290.20 apiece on the NSE, touching an intraday high of ₹303.80 apiece and an intraday low of ₹285.45 per share. According to Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One, the stock is a relatively low-volume counter but has delivered a strong rally from its March low of around ₹180 to the current levels near ₹290. During Tuesday's session, the stock also touched a fresh all-time high of ₹303.80, reflecting continued buying interest.

Bhosale noted that the overall technical trend remains positive, and the momentum could extend further towards the ₹315–325 zone in the near term. However, he cautioned investors against taking aggressive positions given the stock's relatively low trading volume and limited market participation. On the downside, ₹260 is expected to act as a key immediate support level.