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U. H. Zaveri Q2 FY27 results: net profit up 100.0% to ₹0.04 crore, revenue up 18.3%
U. H. Zaveri Limited reported standalone revenue of ₹12.75 crore in Q2 FY27, up 18.3% from ₹10.78 crore a year earlier and 95.0% from ₹6.54 crore in Q1 FY27. Net profit was ₹0.04 crore, compared with ₹0.02 crore in both comparison periods, while EBITDA rose to ₹0.05 crore from ₹0.03 crore and EBITDA margin increased to 0.4% from 0.2% a year earlier.
Key points
- Revenue was ₹12.75 crore in Q2 FY27, up 18.3% from ₹10.78 crore in Q2 FY26 and 95.0% from ₹6.54 crore in Q1 FY27.
- EBITDA was ₹0.05 crore, up 66.7% from ₹0.03 crore in both the year-ago quarter and the previous quarter.
- EBITDA margin was 0.4%, up 0.2 percentage points from Q2 FY26 and unchanged from Q1 FY27.
- Net profit was ₹0.04 crore, up 100.0% from ₹0.02 crore in both Q2 FY26 and Q1 FY27.
- Basic EPS was ₹0.01, compared with ₹0.02 in Q2 FY26 and ₹0.01 in Q1 FY27.
How did U. H. Zaveri perform in Q2 FY27?
U. H. Zaveri reported standalone revenue of ₹12.75 crore for Q2 FY27, against ₹10.78 crore in Q2 FY26 and ₹6.54 crore in Q1 FY27. The sequential revenue increase was ₹6.21 crore, or 95.0%, while the year-on-year increase was ₹1.97 crore, or 18.3%. The company filed standalone unaudited results; no consolidated figures were provided in the filing.
EBITDA was ₹0.05 crore in Q2 FY27, compared with ₹0.03 crore in both the year-ago quarter and the previous quarter. EBITDA margin was 0.4%, higher by 0.2 percentage points from Q2 FY26 and unchanged from Q1 FY27. Profit before tax was ₹0.05 crore, while net profit was ₹0.04 crore and basic EPS was ₹0.01.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 12.75 | 6.54 | 10.78 | +18.3% | +95.0% |
| Other income | 0 | 0 | 0 | ||
| Total expenses | 12.71 | 6.51 | 10.76 | +18.1% | +95.2% |
| EBITDA | 0.05 | 0.03 | 0.03 | +66.7% | +66.7% |
| EBITDA margin | 0.4% | 0.4% | 0.2% | +0.2 pp | +0.0 pp |
| Profit before tax | 0.05 | 0.03 | 0.03 | +66.7% | +66.7% |
| Tax | 0.01 | 0.01 | 0.01 | +0.0% | +0.0% |
| Net profit | 0.04 | 0.02 | 0.02 | +100.0% | +100.0% |
| EPS (₹) | 0.01 | 0.01 | 0.02 | −50.0% | +0.0% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in U. H. Zaveri's costs and profit?
Total expenses rose to ₹12.71 crore in Q2 FY27 from ₹10.76 crore in Q2 FY26, an increase of ₹1.95 crore, or 18.1%. Employee cost increased by ₹0.03 crore, or 27.3%, to ₹0.14 crore, while other expenses rose by ₹0.07 crore, or 50.0%, to ₹0.21 crore. Cost of materials, finance costs and depreciation were unchanged.
Other income remained at ₹0 crore, and there was no exceptional item in either Q2 FY27 or Q2 FY26. Tax expense was ₹0.01 crore in both periods. Profit before tax rose by ₹0.02 crore, or 66.7%, to ₹0.05 crore, while net profit increased by ₹0.02 crore, or 100.0%, to ₹0.04 crore. The filing does not state a reason for the increase in employee and other expenses.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 0 | 0 | 0 | |
| Employee cost | 0.14 | 0.11 | +0.03 | +27.3% |
| Finance costs | 0 | 0 | 0 | |
| Depreciation | 0 | 0 | 0 | |
| Other expenses | 0.21 | 0.14 | +0.07 | +50.0% |
| Total expenses | 12.71 | 10.76 | +1.95 | +18.1% |
| Other income | 0 | 0 | 0 | |
| Tax | 0.01 | 0.01 | 0 | +0.0% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
Total assets were ₹40.72 crore on 30 September 2026, compared with ₹40.76 crore on 31 March 2026, while total equity was ₹40.06 crore against ₹40.02 crore. The company reported no borrowings at either date. Cash and cash equivalents were ₹0.61 crore, compared with ₹0.38 crore, and inventories were ₹33.34 crore against ₹34.77 crore.
Trade receivables rose to ₹1.10 crore from ₹0.03 crore, while trade payables fell to ₹0.17 crore from ₹0.25 crore. For H1 FY27, net cash flow from operating activities was ₹0.23 crore, compared with ₹3.31 crore in H1 FY26. There was no investing cash flow and no capital expenditure in either period.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 40.72 | 40.76 |
| Total equity | 40.06 | 40.02 |
| Borrowings | 0 | 0 |
| Cash and equivalents | 0.61 | 0.38 |
| Inventories | 33.34 | 34.77 |
| Trade receivables | 1.10 | 0.03 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 0.23 | 3.31 |
| Cash from investing | 0 | −0.04 |
| Cash from financing | 0 | −3.95 |
| Capital expenditure | 0 | 0 |
Source: Company's results filing (XBRL).
How has U. H. Zaveri done over the last 8 quarters?
Revenue increased in each of the last six quarters on a year-on-year basis. It reached its highest point in the reported series at ₹18.25 crore in Q3 FY26 and its lowest at ₹3.93 crore in Q4 FY25, before rising to ₹12.75 crore in Q2 FY27 from ₹6.54 crore in Q1 FY27.
Net profit ranged from ₹0.04 crore in Q2 FY27 to a low of no reported profit in Q4 FY25. EBITDA margin peaked at 0.5% in Q4 FY26 and bottomed at negative 0.1% in Q4 FY25; it was 0.4% in Q2 FY27, the same as Q1 FY27.
How did U. H. Zaveri shares react?
The filing appeared after market hours. From the price when the filing appeared, the stock fell 4.5% after five minutes, 4.5% after 15 minutes and 6.1% after 30 minutes. It closed 4.2% higher on the reaction day from its previous close, and by the next day’s close it was up 0.5% from the pre-results close.
The industry’s median reaction-day move was 0.0%, making U. H. Zaveri’s excess reaction-day performance 4.2 percentage points. By the next day’s close, the stock’s move was 1.3 percentage points above the industry median. Earlier reaction-day moves were 2.7% on 7 August 2026, negative 7.8% on 29 May 2026 and 0.8% on 12 February 2026.
| After the filing | Stock | Gems, Jewellery And Watches median |
|---|---|---|
| 5 minutes | −4.5% | |
| 15 minutes | −4.5% | |
| 30 minutes | −6.1% | |
| Reaction day | +4.2% | +0.0% |
| Next day | +0.5% | −0.8% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
| Results filed on | Stock on the reaction day |
|---|---|
| 7 August 2026 | +2.7% |
| 29 May 2026 | −7.8% |
| 12 February 2026 | +0.8% |
| 4 November 2025 | −2.0% |
| 11 August 2025 | −5.0% |
| 26 May 2025 | −2.1% |
| 22 July 2024 | −2.5% |
| 30 May 2024 | +1.9% |
Source: MarketPing price-reaction measurement.
How did other Gems, Jewellery And Watches companies do?
Thirteen other Gems, Jewellery And Watches companies had filed for the quarter by 4 November 2026. Their median revenue growth was 14.2%. Seven grew slower than U. H. Zaveri, while six grew faster than the company, whose revenue increased 18.3% from the year-ago quarter.
Of the 11 peers for which profit was compared, seven reported higher profit. The peer revenue-growth median was below U. H. Zaveri’s year-on-year revenue growth of 18.3%, while the filing itself did not provide consolidated figures for comparison.
| U. H. Zaveri revenue growth (YoY) | +18.3% |
|---|---|
| Median of 13 other Gems, Jewellery And Watches companies | +14.2% |
| Companies with slower revenue growth than U. H. Zaveri | 7 of 13 |
| Companies with faster revenue growth than U. H. Zaveri | 6 of 13 |
| Companies whose net profit rose | 7 of 11 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was U. H. Zaveri's revenue in Q2 FY27?
Revenue from operations was ₹12.75 crore, up 18.3% from ₹10.78 crore in Q2 FY26 (standalone).
Did U. H. Zaveri make a profit in Q2 FY27?
Yes. Net profit was ₹0.04 crore, against a net profit of ₹0.02 crore in Q2 FY26.
What was U. H. Zaveri's EPS in Q2 FY27?
Basic earnings per share were ₹0.01, against ₹0.02 in Q2 FY26.
How did U. H. Zaveri shares react to the Q2 FY27 results?
On the reaction day the stock moved +4.2% from the previous close; the median Gems, Jewellery And Watches stock moved +0.0%.
When did U. H. Zaveri announce its Q2 FY27 results?
On 30 October 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Unaudited Financial Results For Quarter And Half-Year Ended September 30, 2026 And Any Other Business Matter. (BSE, 27 October 2026) · PDF
- Board Meeting Outcome for Board Meeting Outcome For Quarter And Half-Yearly Ended Sep. 30, 2026 For Considering And Approving Unaudited Financial Results. (BSE, 30 October 2026) · PDF
- Results-Financial Result For Quarter And Half-Yearly Ended Sep. 30, 2026 (BSE, 30 October 2026) · PDF
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
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