Company Overview
Renaissance Global Limited, a Mumbai-based jewellery manufacturer and exporter listed on BSE (532923) and NSE (RGL), submitted its FY 2025-26 Annual Report in compliance with SEBI Regulation 34(1). The company operates through multiple subsidiaries including Renaissance Jewelry New York Inc., Verigold Jewellery FZCO, and recently acquired entities.
Financial Performance Summary
Consolidated Results:
- Revenue from Operations: ₹28,130.31 million (34.65% increase from FY25)
- Profit After Tax: ₹902.62 million (22.49% increase from FY25)
- EBITDA: ₹2,040.30 million (21.87% increase from FY25)
- Basic EPS: ₹8.40 after exceptional items
Standalone Results:
- Revenue from Operations: ₹13,874.58 million (5.46% decrease from FY25)
- Profit After Tax: ₹126.03 million (53.18% decrease from FY25)
- Profit Before Tax: ₹185.81 million (45.96% decrease from FY25)
- Cash & Cash Equivalents declined 80.3% to ₹999.44 lakhs
Key Operational Developments
The company expanded through strategic acquisitions including Jean Dousset Jewelry LLC (acquired 38.7% stake for ₹25.89 crores) and Verigold Jewellery India Private Limited (97% acquisition). Incorporated Renaissance Retail Limited for jewellery retail business and invested ₹6,001.35 lakhs in Verigold Jewellery FZCO.
Exceptional Items & Challenges
- Incurred exceptional expenses of ₹1,197.40 lakhs for closure of Bhavnagar manufacturing unit
- Discovered inventory misappropriation of ₹310.04 lakhs by employees, which was written off
- Secured new Export Credit Guarantee Scheme loans of ₹4,840 lakhs
Corporate Governance & AGM Details
37th Annual General Meeting: September 18, 2026 via VC/OAVM
Agenda Items:
- Adoption of FY26 financial statements
- Re-appointment of Mr. Neville Tata as Whole-Time Director for 5 years with remuneration of ₹12-20 lakhs per month
- Increase in management consultancy fee for Mr. Hitesh Shah from ₹4,00,000 to ₹5,00,000 per month
- No dividend recommended due to strategic focus on retail expansion and debt reduction
Capital Structure & ESOP
- Authorized Share Capital: ₹98.70 crores
- Paid-up Capital: 21,46,50,942 equity shares of ₹2 each
- ESOP 2021 Scheme: 95,000 equity shares allotted during FY26, with 1,084,000 options outstanding
- Expense recognized: ₹87.98 lakhs (FY26) vs ₹438.23 lakhs (FY25)
Subsidiary Network
Direct Subsidiaries: Renaissance Jewelry New York Inc., Verigold Jewellery (UK) Ltd., Verigold Jewelery FZCO, Renaissance Global Brands Inc USA, Renaissance Retail Limited, Verigold Jewellery India Private Limited
Step-down Subsidiaries: Jay Gems Inc., Renaissance FMI Inc., Jean Dousset Jewelry LLC, Verigold Jewellery LLC Dubai, Renaissance Jewellery Middle East FZCO
Regulatory Compliance & CSR
- Fully compliant with SEBI (LODR) Regulations 2015 and Companies Act 2013
- CSR Expenditure: ₹65.99 lakhs (exceeding 2% requirement of ₹65.48 lakhs) paid to Renaissance Foundation
- Received 51st India Gem & Jewellery Awards for largest exporter of Silver Jewellery
- Foreign Exchange: Earnings ₹11,396.575 lakhs, Outgo ₹7,150.730 lakhs
Financial Position & Ratios
Key Ratios (Consolidated):
- Current Ratio: 3.01 (FY26) vs 2.56 (FY25)
- Debt Equity Ratio: 0.32 (FY26) vs 0.36 (FY25)
- Return on Equity: 6.00% (both years)
- Inventory Turnover: 2.20 (FY26) vs 1.45 (FY25)
Key Ratios (Standalone):
- Current Ratio: 1.83 times (FY25: 2.05 times)
- Debt Equity Ratio: 0.51 times (FY25: 0.45 times)
- Return on Equity: 2.00% (FY25: 4.00%)
Contingent Liabilities & Disputes
- VAT liabilities: ₹78.93 lakhs (under dispute)
- Income tax liabilities: ₹1,668.75 lakhs (under dispute)
- Other litigations: ₹489.06 lakhs
Audit & Governance
- Statutory Auditors: M/s Chaturvedi and Shah LLP (reappointed until 39th AGM)
- Internal Auditors: M/s KKC & Associates LLP
- Secretarial Auditors: M/s V. V. Chakradeo & Co. (appointed until 41st AGM)
- Board composition: 8 Directors (1 Non-Executive Chairman, 1 Non-Executive Director, 4 Independent Directors, 2 Executive Directors)