This study assessed genetic variability, heritability, and genetic advance as percentages of the mean, skewness, kurtosis, and trait relationships across nine quantitative and nutritional traits in an F2 population developed from the CO51 × Mikuruvai cross. Traits such as the number of productive tillers per plant and single plant yield demonstrated high genotypic and pheno- typic variation, substantial heritability and genetic advance as a percentage of the mean. These findings highlight the role of additive gene action and underscore the potential for effective selection. Significant positive skew- ness for these traits further highlighted their potential for genetic improve- ment. Single plant yield demonstrated strong positive correlations with plant height, number of productive tillers per plant, panicle length, kernel length, kernel breadth, length-to-breadth ratio, and 1000-seed weight, iden- tifying these as critical traits for yield enhancement. Furthermore, ten trans- gressive segregants were identified that surpassed the recipient parent CO51 in yield and the donor parent Mikuruvai in total phenolic content. These results provide a scientific basis for selecting superior genotypes and contribute to breeding programs to develop high-yielding rice varieties with enhanced nutritional quality.