Renaissance Jewellery hits the roof after stellar Q2 outcome

Renaissance Jewellery was locked in 20% upper circuit at Rs 274.85 at 12:03 IST on BSE after consolidated net profit surged 129% to Rs 16.90 crore on 34% rise in revenue to Rs 383.50 crore in Q2 September 2017 over Q2 September 2016.

The result was announced after market hours yesterday, 14 December 2017.

Meanwhile, the S&P BSE Sensex was up 280.93 points or 0.84% at 33,527.63. The S&P BSE Small-Cap index was up 235.09 points, or 1.31%, to 18,158.54.

On the BSE, 42,000 shares were traded on the counter so far as against the average daily volumes of 5,646 shares in the past one quarter. The stock had hit a high of Rs 274.85 and a low of Rs 243 so far during the day. The stock had hit a record high of Rs 276.30 on 6 December 2017 and a 52-week low of Rs 124.50 on 26 December 2016.

The stock rose 33.13% over the past one month till 14 December 2017, outperforming the Sensex's 0.93% rise. The scrip had also outperformed the market in past one quarter, gaining 21.84% as against Sensex's 3.12% rise. The scrip had also outperformed the market in past one year, jumping 78.88% as against Sensex's 24.97% rise.

The small-cap company has an equity capital of Rs 18.88 crore. Face value per share is Rs 10.

Renaissance Jewellery's consolidated Ebitda (earnings before interest, taxes, depreciation and amortization) rose 65% to Rs 26.60 crore in Q2 September 2017 over Q2 September 2016.

Renaissance Jewellery is engaged in design, manufacturing and sales of jewellery in gold, silver, platinum, studded with polished diamonds, semi precious and precious stones over a myriad product portfolio as rings, earrings, pendants, bracelets, necklaces, bangles, money clips, tie pins, cuff links etc. It is also involved in furniture retailing through its step down subsidiary - Housefull International.

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