What’s new

• FY25 revenue rose 79% to ₹1,157 cr; net profit jumped 136% to ₹59 cr.
• Management guided for 60% revenue growth in FY27 with a 4-4.5% PAT margin.
• Company plans a UAE subsidiary, capacity expansion to 6-7 tonnes, and product diversification.

Why it matters

The guidance puts Utssav on a path to roughly triple its revenue in two years. The UAE subsidiary is a direct play on lifting exports from 1% of sales to 10-20%, a bet that foreign demand can sustain this pace of growth alongside domestic expansion.

What we’re watching

• Execution on the UAE subsidiary launch and initial export traction.
• Whether the capacity expansion to 6-7 tonnes per annum is funded or requires dilution.
• Pat margin holding at the guided 4-4.5% as product mix shifts to lower-margin categories.

The full read

Utssav CZ Gold Jewels is planning to triple its capacity and open a new front abroad after a 79% revenue jump in FY25 to ₹1,157 crore. Net profit grew faster, up 136% to ₹59 crore. The May 25 conference call added fresh details: management is guiding for 60% revenue growth in FY27 and wants to expand capacity from 2.5 to 6-7 tonnes per year. A new UAE subsidiary is part of the push to lift exports from 1% to 10-20% of sales, alongside a move into diamond and plain-gold jewellery. The longer-term ambition is a ₹5,000 crore revenue run-rate by 2030. The guidance is specific, and the strategic bets are clear. The open question is execution: can a company this size absorb a tripling of capacity and a new export market without straining margins that management itself is capping at 4-4.5%.

Primary source: NSE