Business
Renaissance Jewellery is involved in designing, manufacture & sales of jewellery of silver, gold, platinum. Jewellery studded with diamonds and other precious & semi precious stones.
Jewellery products include rings, pendants, earrings, bracelets, necklaces & bangles.
Company sells jewellery to large retailers, speciality jewellery chains and online portal.
Company is also into readymade furniture – “Housefull Store” across 38 stores.
Industry Outlook
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According to Research & Markets the sector in India is expected to grow at CAGR of 16% over 2014-1019.
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Domestic gems & jewellery industry has a market size of $40b in 2013, has a potential to grow to $80b by 2018
Financials
Q2FY16
Long Term Debt = 0
Short Term Debt = 344cr
Non-current Investment = 0
Cash = 34cr
Current Investment = 29cr
Current Assets = 989 cr
Current Liability = 672 cr
Key Concerns
- Summation of Cash Flow from operation from 2006-2015 is 53 cr whereas net profit is 271cr.
- Growth in sales for FY15 is 4.4% which is well below the projected industry growth rate of 16%.
Positives
- The company provides good margin of safety at current market price.
- Industry is projected to grow at 16%
Disclosure
Invested with tracking positions
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