Utssav CZ Gold Jewels IPO Review

Utssav CZ Gold Jewels Limited has always been an emblem of integrity, quality and craftsmanship. Their aim has been to create a range of exquisite CZ studded 18K yellow and rose gold jewellery, with contemporary designs that will delight even the most discerning connoisseurs.

 The Company is led by strong and professional Promoters, named, MR. PANKAJKUMAR H. JAGAWAT is having experience of more than 20 years in the field of manufacturing, wholesale selling and marketing of Jewellery, MR. SHASHANK BHAWARLAL JAGAWAT has more than 20 years of experience in the field of gold jewellery production and MR. RAKESH SHANTILAL JAGAWAT.

Financially, Utssav Jewels revenue increased from ₹12,030.66 Lakhs in FY21 to ₹12,342.53 Lakhs in FY22 and further jumped to ₹23,971.52 in FY23 and currently increased at ₹27,733.20 Lakhs in 10MFY24. Similarly, EBITDA also increased from ₹361.95 Lakhs in FY21 to ₹662.51 Lakhs in FY22 and further to ₹1,388.52 in FY23 and currently increased at ₹1,907.69 Lakhs in 10MFY24. The PAT also increased from ₹161.87 Lakhs in FY21 to ₹333.95 Lakhs in FY22 and further to ₹714.96 in 8MFY23 and currently at ₹1,073.76 Lakhs in 10MFY24. This indicates a steady financial performance.

For the Utssav Jewels IPO, the company is issuing shares at a pre-issue EPS of ₹4.08 and a post-issue EPS of ₹3.00. The pre-issue P/E ratio is 26.96x, while the post-issue P/E ratio is 36.66x against the industry P/E ratio of 41.88x. The company's ROCE for 10MFY24 is 20.43% and ROE for 10MFY24 is 38.71%. These metrics suggest that the IPO is fairly priced.

The Grey Market Premium (GMP) of Utssav Jewels indicates potential listing gains of 50% to 55%. Given the company's financial performance and the valuation of the IPO, we recommend Investors to Apply the Utssav Jewels IPO for Listing gain or long term investment purposes.