Renaissance Global Limited, formerly known as Renaissance Jewellery Limited, changed its name in March 2019. Incorporated in 1989 and based in Mumbai, India, the company specializes in the manufacturing and sale of diamond-studded jewellery, both in India and internationally. It also engages in the retail and trade of cut and polished diamonds and gems.
The company has established itself as a prominent player in the global jewellery industry, with a strong presence across multiple markets. It designs, manufactures, and supplies branded jewellery across key high-potential markets in the USA, Canada, UK, and Asia. Catering to leading global retailers, Renaissance Global exports fine jewelry and operates in over 20 countries, specializing in licensed jewellery collections and offering a diverse range of diamond and gemstone jewellery.
Renaissance Global operates through a diversified business model encompassing both business-to-business (B2B) and direct-to-consumer (D2C) channels. Its B2B division supplies jewellery to retailers, while its D2C business consists of six D2C websites selling licensed and owned brands directly to retail consumers.
The company offers a wide range of products, including gold jewellery, bangles (including CNC bangles under the Aurelle brand name), pendant sets and rings, and 3D printed/direct casting jewellery products. It operates well-known brands such as Hallmark and Enchanted Disney Fine Jewelry, and its own retail stores under the IRASVA brand. Its diverse portfolio includes owned brands like Irasva, Jewelili, and Everyday Elegance, as well as licensed brands such as Disney, Hallmark, and NFL. The company has significantly expanded its digital footprint, launching six online stores since 2020.
Renaissance Global Ltd currently has a market capitalization of ₹1,278 crore. The company's 52-week high share price is ₹207.10, and its 52-week low is ₹87.70. Over the last 12 months, the stock has shown significant movement, with the share price increasing by 12.32% on BSE.
For Q3 FY25, the company's consolidated net profit declined by 12.9% to ₹24.32 crore, compared to ₹27.93 crore in Q3 FY24. However, net sales increased by 8.3% year-on-year to ₹710.15 crore during the quarter ended December 31, 2024. On a consolidated basis, Renaissance Global Ltd reported a profit of ₹22.73 crore on a total income of ₹516.98 crore for the quarter ended 2025.
Q2 FY25 showed mixed performance, with net profit rising 5.88% to ₹11.17 crore (compared to ₹10.55 crore in Q2 FY24). Sales, however, declined by 6.87% to ₹411.60 crore (compared to ₹441.94 crore in Q2 FY24).
Renaissance Global recorded an operating revenue of ₹2,103.09 crore on a trailing 12-month basis. However, the company faced challenges in FY24, with operating income falling 5.8% year-on-year. The company's operating profit also decreased by 4.3% year-on-year during the fiscal.
• Q3 FY25 Performance: Net Profit of ₹24.32 crore, Net Sales of ₹710.15 crore
• Q2 FY25 Performance: Net Profit of ₹11.17 crore, Net Sales of ₹411.60 crore
• FY24 Operating Revenue: ₹2,103.09 crore (trailing 12-month)
• Market Capitalization: ₹1,278 crore
• EPS (Dec 2024 quarter): ₹2.50
• EPS (FY2023-24): ₹7.59
• P/E Ratio (as of 28 Apr 2025): 17.60
• P/B Ratio (as of 28 Apr 2025): 0.92
• Return on Equity (ROE): 6% (needs improvement)
• Promoter Holding: 58.98% (as of Mar 2025)
Renaissance Global has demonstrated a disciplined financial strategy through active debt reduction initiatives. The company successfully reduced its gross debt by approximately ₹53 crore during Q4 FY25, which is expected to lower interest expenses. This reflects robust capital management practices.
As of December 31, 2024, the company reported a Net Debt of ₹188 crore, significantly lower than ₹311 crore at the same time last year. With a reasonable debt-to-equity ratio of 3%, the company signals a healthy balance sheet.
The company is focused on strategic initiatives to drive growth and profitability. Q2 FY25 highlights robust financial health, with a 42% increase in adjusted EBITDA and a 50% rise in adjusted profit after tax. This performance was primarily driven by strong results in the branded segment and the Direct-to-Consumer brand Irasva. Strategic initiatives, including a focus on high-margin segments and cost optimization, are anticipated to further enhance profitability while maintaining brand quality.
Management is optimistic about future growth, particularly in the licensed brand and B2B segments. This optimism is supported by easing inflationary pressures and increased market penetration of lab-grown diamonds, which are expected to open new avenues for expansion.
Renaissance Global maintains a strong international presence through its network of subsidiaries. These include Renaissance Jewelry New York Inc. (USA), Verigold Jewellery (UK) Ltd. (London), Renaissance Jewellery Bangladesh Pvt. Ltd. (Bangladesh), and Verigold Jewellery DMCC (Dubai). This global footprint enables the company to serve diverse markets and capitalize on international opportunities effectively.
The promoter holding in Renaissance Global Ltd decreased to 58.98% as of March 2025, from 65.59% in September 2024. This dilution in promoter holdings is common for growing companies that seek to raise capital for expansion.
The company has been making strategic moves to strengthen its retail presence. It has subscribed to 10,000 equity shares of Renaissance Retail, with a face value of ₹10 each, totaling ₹1 Lakh. Renaissance Retail was incorporated to engage in the business of Jewellery Retail through online e-commerce platforms and offline jewellery stores, featuring its own retail jewellery brands in India and/or overseas.
Renaissance Global Limited continues to position itself as a significant player in the global jewellery industry. Its diversified business model, strong brand portfolio, and strategic focus on both traditional and emerging markets provide multiple avenues for sustained growth and expansion.
