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Utssav CZ Gold Jewels posted robust H1 FY26. Total Income hit INR 477 Cr (+67% YoY), EBITDA reached INR 45 Cr (+184% YoY) with 9.45% margin, and PAT soared 197% to INR 29 Cr. FY26 revenue guidance is INR 1,100-1,200 Cr.
Capacity expands to 2.5 tons next month, supporting H1's 25% volume growth. Diversification into higher-margin designer and diamond jewelry is boosting profitability (9-10% EBITDA target). Diamond sales, currently 2% of stock, target INR 200-300 Cr in two years. International expansion to UAE/USA is in motion. Management is confident in continued strong growth, fueled by product mix, capacity, and H2 festive demand.