Renaissance Global jumps on posting over 2-fold revenue growth for D2C business
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Renaissance Global is currently trading at Rs. 85.06, up by 1.69 points or 2.03% from its previous closing of Rs. 83.37 on the BSE.
The scrip opened at Rs. 84.40 and has touched a high and low of Rs. 85.69 and Rs. 83.47 respectively. So far 13242 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 172.00 on 01-Apr-2022 and a 52 week low of Rs. 80.05 on 28-Mar-2023.
Last one week high and low of the scrip stood at Rs. 87.90 and Rs. 80.05 respectively. The current market cap of the company is Rs. 802.94 crore.
The promoters holding in the company stood at 70.69%, while Institutions and Non-Institutions held 1.68% and 27.63% respectively.
Renaissance Global’s direct-to-consumer (D2C) business posted revenues of Rs 66.3 crore during Q4 FY23 as compared to Rs 29.5 crore in Q4 FY22, registering a growth of 124% (over a two-fold growth). For FY23, the direct to consumer business revenue was up by 93% to Rs 239.1 crore as compared to Rs 123.8 crore in FY22. The annual revenue for FY23 has improved to Rs 239 crore from Rs 225 crore reported annual run rate in Q3 & 9M FY23, further improving its 2-year D2C revenue CAGR to 92%.
Renaissance Global is a global branded jewellery player. Renaissance designs, manufactures and supplies branded jewellery across key high-potential markets in USA, Canada, UK and key Asian markets.
