Renaissance Global Limited submitted its Q2 & H1 FY27 earnings presentation to BSE and NSE on November 6, 2026. The document highlights financial performance, operational metrics, and strategic initiatives for the period ended September 30, 2026.

Financial Performance Highlights

Q2 FY27 Performance:

  • Revenue from operations: ₹694.2 Cr, up 27.1% YoY from ₹546.4 Cr in Q2 FY26
  • Revenue excluding bullion: ₹639.3 Cr, up 20.3% YoY from ₹531.6 Cr
  • Bullion sales: ₹54.9 Cr, up 271% YoY from ₹14.8 Cr
  • EBITDA: ₹51.5 Cr, up 19.4% YoY from ₹43.1 Cr
  • EBITDA margin: 7.4% (7.9% in Q2 FY26)
  • EBITDA margin excluding bullion: 8.1% (stable YoY)
  • Profit before tax: ₹32.0 Cr, up 35.1% YoY from ₹23.7 Cr
  • Profit after tax: ₹25.8 Cr, up 27.8% YoY from ₹20.2 Cr
  • EPS: ₹2.5, up 38% YoY from ₹1.8

H1 FY27 Performance:

  • Revenue from operations: ₹1,474.7 Cr, up 37.0% YoY from ₹1,076.7 Cr
  • Revenue excluding bullion: ₹1,329.2 Cr, up 25.2% YoY from ₹1,061.9 Cr
  • Bullion sales: ₹145.5 Cr, up 883% YoY from ₹14.8 Cr
  • EBITDA: ₹101.2 Cr, up 20.5% YoY from ₹84.0 Cr
  • EBITDA margin: 6.9% (7.8% in H1 FY26)
  • EBITDA margin excluding bullion: 7.6% (7.9% in H1 FY26)
  • Profit before tax: ₹61.7 Cr, up 87.1% YoY from ₹33.0 Cr (includes ₹12.0 Cr exceptional restructuring cost in H1 FY26)
  • Profit after tax: ₹51.5 Cr, up 91.9% YoY from ₹26.8 Cr
  • EPS: ₹4.9, up 103% YoY from ₹2.4

Segmental Performance (Excluding Bullion)

Q2 FY27 Segment Revenue:

  • Owned brands: ₹83.2 Cr, up 38.6% YoY (13.0% of total)
  • Licensed brands: ₹45.6 Cr, down 17.1% YoY (7.1% of total)
  • Customer brands: ₹510.5 Cr, up 22.6% YoY (79.8% of total)

Q2 FY27 Segment EBITDA:

  • Owned brands: ₹12.1 Cr (14.6% margin), up 67% YoY from ₹7.2 Cr (12.1% margin)
  • Licensed brands: ₹6.9 Cr (15.2% margin), down 10.4% YoY from ₹7.7 Cr (14.0% margin)
  • Customer brands: ₹32.4 Cr (6.4% margin), up 14.9% YoY from ₹28.2 Cr (6.8% margin)

H1 FY27 Segment Revenue:

  • Owned brands: ₹171.7 Cr, up 33.4% YoY
  • Licensed brands: ₹118.4 Cr, down 3.8% YoY
  • Customer brands: ₹1,039.1 Cr, up 28.3% YoY

H1 FY27 Segment EBITDA:

  • Owned brands: ₹22.3 Cr (13.0% margin), up 57% YoY from ₹14.2 Cr (11.0% margin)
  • Licensed brands: ₹14.8 Cr (12.5% margin), down 12.9% YoY from ₹17.0 Cr (13.8% margin)
  • Customer brands: ₹64.1 Cr (6.2% margin), up 21.4% YoY from ₹52.8 Cr (6.5% margin)

Operational Highlights

Working Capital Efficiency:

  • Working capital cycle reduced by 54 days year-on-year
  • TTM Cash from Operations: ₹280 Cr
  • TTM Free Cash Flow: ₹204 Cr
  • H1 FY27 Cash from Operations: ₹143 Cr (vs. outflow of ₹83 Cr in H1 FY26)
  • H1 FY27 Free Cash Flow: ₹103 Cr (after ₹24 Cr interest and ₹17 Cr capex)

Debt and Investments:

  • Net debt reduced by ₹144 Cr YoY to ₹199 Cr (from ₹317 Cr)
  • Gross debt: ₹582 Cr (91% short-term trade finance)
  • Cash and investments up ₹160 Cr YoY to ₹275 Cr (from ₹129 Cr)
  • Cash & balance cover of gross debt: 66% (vs. 39% a year ago)

D2C Brand Expansion - Jean Dousset:

  • Currently 4 operational boutiques in US (Los Angeles, New York, San Francisco Bay Area, Boston)
  • Boston boutique opened on November 4, 2026
  • Expansion plan: 8 boutiques by end of FY27
  • Upcoming openings: Washington D.C. (November 20, 2026), Chicago (January 2027), Miami (February 2027), Dallas (Spring 2027)
  • Capital employed per boutique: ~US$0.9M (fit-out: ~US$0.5M, inventory: ~US$0.4M)
  • Payback period: 10-15 months
  • Pre-tax return on boutique capital: >100% at steady-state

Management Commentary

Mr. Sumit Shah, Chairman and Global CEO, stated: "Our direct-to-consumer brands, With Clarity and Jean Dousset, are now the fastest-growing and most profitable part of the group. In Q2, owned-brand revenue grew 39% and their EBITDA 67%. Jean Dousset has four operational boutiques and will reach eight by the end of the financial year. We are funding this growth wholly from our internal accruals."

Balance Sheet Highlights (H1 FY27 vs H1 FY26)

Assets:

  • Total assets: ₹2,676.1 Cr (vs. ₹2,473.4 Cr)
  • Property, plant and equipment: ₹319.2 Cr (vs. ₹301.3 Cr)
  • Current investments: ₹189.2 Cr (vs. ₹121.9 Cr)
  • Inventories: ₹1,043.2 Cr (vs. ₹1,050.4 Cr)
  • Trade receivables: ₹829.7 Cr (vs. ₹799.7 Cr)
  • Cash and cash equivalents: ₹108.8 Cr (vs. ₹94.4 Cr)

Liabilities and Equity:

  • Shareholder's funds: ₹1,612.8 Cr (vs. ₹1,478.2 Cr)
  • Equity share capital: ₹21.5 Cr (unchanged)
  • Reserves & surplus: ₹1,556.2 Cr (vs. ₹1,423.1 Cr)
  • Short-term borrowings: ₹532.3 Cr (vs. ₹552.5 Cr)
  • Trade payables: ₹253.4 Cr (vs. ₹208.2 Cr)

Company Overview

  • 31-year legacy in jewellery industry
  • Export-led global presence (82% of turnover from exports)
  • Markets: USA, UK, UAE, India
  • Three business segments: Owned brands, licensed collections, customer brands (OEM and private label)
  • Integrated operating platform covering design, sourcing, manufacturing, marketing, and distribution
  • Omni-channel presence with strong digital capabilities