This Jewelry stock is included in the S&P BSE Smallcap index with a market cap of Rs. 984 crore. The stock price is at Rs. 104.25, versus Rs. 102.50 at closing on Wednesday.
The stock is 21% away from its 52 week high, currently trading 2.8% away and 9.9% above its 20 day and 200 day moving averages respectively. The stock is seeing volumes that are over 0.1x the weekly average volumes.
In a filing dated 5th October 2023, Renaissance Global Ltd (“Renaissance Global”) announced the quarterly update on its direct-to-consumer (D2C) business for the quarter ended September 30 th, 2023.
During Q2 FY24, the direct-to-consumer business posted revenues of ₹53.8 crore compared to ₹43.9 crore in Q2 FY23, up by 23%. For H1FY24, the direct to customer business revenue was up by 29% to ₹109.1 crore. Based on our estimates of a quarter’s contribution to annual sales, our annual revenue run rate of D2C business is at ₹311.8 crores in H1FY24 vs. actual FY23 revenues of ₹ 239.1 crores.
The Direct-to-consumer business is a high EBITDA margin business with normal margins in the range of 20-22%. With the growing share of direct-to-consumer revenues to total revenues, Renaissance is confident of its EBITDA margins showing an improving trend, going forward.
Renaissance Global is a major player in the world of branded jewelry. Renaissance creates, produces, and distributes branded jewelry in important, high-potential markets in the USA, Canada, the UK, and Asia.
With well-known international brands like Disney, Hallmark, Netflix, and the NFL, the company has synergistic licensing agreements. Its owned segment includes a portfolio of brands like Irasva and Jewelili. The company uses both B2B and D2C distribution models. Since 2020, Renaissance has introduced online stores through 6 direct-to-consumer websites to market and supply owned and licensed brands.
Written by Sandeep R
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