BSE: 541338
U. H. ZAVERI LIMITED
Operates in the Gems, Jewellery and Watches industry and is listed on BSE, with FY26 revenue of ₹43.45 crore. Completed a ₹20.39 crore rights issue in November 2025 that tripled its share capital to 3,05,82,000 equity shares. The cost structure is dominated by materials at 118% of revenue, with employee cost at 0.7% and other operating expenses at 1.8% of revenue; depreciation and capex are negligible. The supplied filings do not describe specific products, store count, or manufacturing footprint. The company does not qualify as a 'Large Corporate' under SEBI criteria as of 31 March 2026. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Gems, Jewellery and Watches. Small, thinly-traded gems, jewellery and watches company
Exhibit 1: Financial summary, FY22–FY26 (all audited; no estimate years)
| ₹ crore · standalone | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 16 | 14 | 20 | 32 | 43 |
| EBITDA (ex other income) | — | 0 | 0 | 0 | 0 |
| margin % | — | 1.7 | 1.7 | 0.9 | 0.2 |
| Owners' profit | — | 1 | 1 | 0 | 0 |
| EPS, as reported (₹) | 0.86 | 0.82 | 0.64 | 0.20 | 0.02 |
| ROE % · ROCE % | — · 4.1 | 5.8 · 6.8 | 3.4 · 2.4 | 1.1 · 0.8 | 0.1 · 0.2 |
| Debt / equity (x) | — | 0.00 | 0.56 | 0.64 | 0.00 |
| Cash from operations | (2) | 0 | (11) | (1) | (8) |
| Capex | — | 0 | 0 | 0 | (0) |
Exhibit 2: Quarterly performance, last 8 quarters
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 7 | 16 | 4 | 6 | 11 | 18 | 9 | 7 |
| Profit before tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net profit | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (₹) | 0.04 | 0.02 | 0.00 | 0.02 | 0.02 | 0.00 | 0.02 | 0.01 |
Exhibit 3: Peers — basic industry group, by market cap
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| Khazanchi Jewellers Limited | 1,735 | 12.2 | 5.43 | — | 28.0 | 37.7 | — | 6.8 |
| PNGS GARGI FASHION JEWELLERY L | 599 | 12.6 | 4.22 | — | 22.1 | 27.0 | — | 30.4 |
| UDAY JEWELLERY INDS. LTD. | 569 | 21.5 | 2.74 | — | 17.2 | 23.1 | — | 8.3 |
| KD GREEN INDUSTRIES LTD | 287 | 18.3 | 3.99 | 32.0 | 7.0 | 8.6 | — | 16.5 |
| GOLKUNDA DIAMONDS & JEWELLERY | 216 | 15.8 | 2.69 | — | 17.1 | 20.7 | — | 9.0 |
| AJC Jewel Manufacturers Limite | 214 | 51.1 | — | — | — | 28.7 | — | — |
| Patdiam Jewellery Limited | 147 | 7.8 | — | — | — | — | — | — |
| Ashapuri Gold Ornament Limited | 146 | 7.0 | 0.87 | — | 11.1 | 15.0 | — | 11.4 |
Exhibit 4: Where the company sits in its group
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 119.6 | 12.9 | 46 of 47 | 2% |
| P/B | 0.5 | 0.9 | 6 of 37 | 83% |
| ROCE | 0.2 | 4.7 | 42 of 50 | 16% |
| ROE | 0.1 | 2.3 | 28 of 37 | 25% |
| Debt / Equity | 0.0 | 0.1 | 1 of 37 | 75% |
| EBITDA margin | 0.4 | 6.8 | 27 of 35 | 24% |
| Revenue growth | 16.8 | 13.8 | 18 of 36 | 51% |
| Profit growth | 29.3 | 1.4 | 14 of 34 | 61% |
| Market cap | 18 | 24 | 35 of 54 | 36% |
Exhibit 5: Filings of the last 90 days, with the measured price reaction
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 30 Sept 2026 · U.H. Zaveri appoints P H Shah and Co. as Statutory Auditor for 5 years | management changes | medium | — | — |
| 30 Sept 2026 · Appointment of Secretarial Auditor for 5 years approved at AGM | management changes | medium | — | — |
| 30 Sept 2026 · U H Zaveri 9th AGM: All 4 resolutions passed with near-unanimous support | board shareholder meetings | low | — | — |
| 28 Sept 2026 · Proceedings of 9th Annual General Meeting of the Company | board shareholder meetings | low | — | — |
| 9 Sept 2026 · U. H. Zaveri Limited publishes 9th AGM notice in newspapers | compliance | minimal | — | — |
| 4 Sept 2026 · 9th AGM on Sep 28, 2026 via video conferencing; e-voting cut-off Sep 22 | board shareholder meetings | low | — | — |
| 4 Sept 2026 · U.H. Zaveri 9th AGM on Sept 28, 2026; auditor appointments on agenda | board shareholder meetings | medium | — | — |
| 4 Sept 2026 · 9th AGM Notice and Integrated Annual Report FY 2025-26 | results | high | — | — |
| 4 Sept 2026 · 9th AGM set for September 28 through video conferencing | compliance | minimal | — | — |
| 3 Sept 2026 · U. H. Zaveri appoints P H Shah and Co as Statutory Auditor for 5 years | management changes | medium | — | — |
How to read this document
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions | an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
Sources, method and disclosures
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.