Uday Jewellery Industries Ltd(UDAYJEW)

NSE: UDAYJEWBSE: 539518

₹ 212.3-4.99%refreshed 23 Oct, 03:30 pm ISTMarket cap: ₹ 723 crWebsite: www.udayjewellery.comUpdated: 24 Oct 2026

About

Uday Jewellery Industries Ltd is a fourth-generation, Hyderabad-based B2B manufacturer and supplier of natural gemstone-studded and Polki diamond-studded fashion jewellery, serving retailers and business partners in domestic and international markets. The company reported revenue of Rs 725.63 crore in FY26 and operates an integrated manufacturing facility of 125 kg per month capacity spanning around 40,000 sq. ft. It is listed on BSE and progressing toward an NSE listing.^[1][2]

Business

The company operates as a single-segment jewellery business with no reportable segments under Ind AS-108, as management views risks and returns across product categories as undifferentiated.^[1]
Uday Jewellery is a fourth-generation enterprise with roots in Hyderabad, associated with the Sanghi Global Group and its craftsmanship and design heritage.^[1]

Products

The company manufactures natural gemstone-studded and Polki diamond-studded fashion jewellery on a B2B basis, covering handmade gold jewellery and pieces incorporating diamonds and other precious and semi-precious gemstones.^[1]
The company sources conflict-free and ethically sourced gemstones as key raw materials, and collects precious-metal-bearing manufacturing waste for recovery to reduce material loss.^[1]

Manufacturing

The integrated manufacturing facility in Hyderabad has an installed capacity of 125 kg per month and spans around 40,000 sq. ft., following relocation in November 2023.^[1]
Installed capacity grew from 35 kg per month in FY2023 to 125 kg per month after the November 2023 facility relocation.^[1]
Capacity utilisation stands at a modest level against the 125 kg per month installed capacity, leaving significant headroom for scaling production.^[1]
As at 31 March 2026, the company had 488 employees on its rolls.^[1]

Customers and distribution

The company serves jewellery retailers and business partners across domestic and international markets on a B2B basis.^[1]
In FY25, domestic revenue was Rs 25,725.92 lakhs and export revenue was Rs 2,994.29 lakhs; UAE (Dubai) accounted for 88.8% of exports and the USA (New York) for 11.2%.^[3]
The company plans to expand into the B2C segment through franchising and e-commerce channels to achieve greater market reach and higher realisations.^[1]

Gold price risk management

Gold price volatility is managed through daily gold procurement, Gold Metal Loans (GML), and financial instruments including forwards and futures; gold is sourced from authorised dealers.^[3]

Expansion and capex

The company is investing ahead of demand by expanding manufacturing infrastructure, upgrading technology, and adding capacity to support growing volumes and complexity.^[1]
Borrowing powers were proposed to be enhanced to Rs 150 crore (over and above paid-up capital and free reserves) to fund future growth and working capital, as disclosed in FY25.^[3]
The company intends to strengthen its retail and wholesale distribution network and selectively evaluate opportunities in new geographies.^[1]

Recent developments

In October 2025, the company acquired the running business of Sanghi Jewellers Private Limited.^[1]
The company merged Narbada Gems & Jewellery Limited with itself during FY26; 97,81,025 equity shares were allotted to erstwhile Narbada shareholders on 5 March 2026 under the amalgamation scheme.^[1]
Related party transactions with Sanghi Jewellers Private Limited (common directors) were approved for up to Rs 100 crore for purchase/manufacture of jewellery and ICD interest for October 2026 to September 2027.^[1]
M/s. Venugopal & Chenoy, Chartered Accountants, Hyderabad (FRN: 004671) were appointed as statutory auditors for a five-year term from the conclusion of the 27th AGM in September 2026, replacing Anant Rao & Mallik.^[1]
ICRA assigned a rating of [ICRA] BBB (Stable) on rated bank limits of Rs 40.92 crore (Kotak Mahindra Bank cash credit Rs 35 crore, guaranteed GECL Rs 2.42 crore, unallocated Rs 3.50 crore), as disclosed in FY25.^[3]
The company is listed on BSE and progressing toward an NSE listing.^[1]

Market Cap

₹723 Cr

High / Low

₹253 / 112

Stock P/E

20.1

Price / Book

3.4

Book Value

₹61

EPS

₹10.6

No. of Shares

3.41 Cr

ROCE

22.4%

ROE

22.8%

OPM

7.6%

Debt / Equity

0.78

Sales

₹726 Cr

Net Profit

₹36 Cr

Promoter holding

74.4%

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