Press releases


October (21st , 2008)

Shrenuj H1 results: Sales growth at ___%, in line with expectations

Highlights:

Consolidated Q-o-Q net sales up ____% to Rs. _____ crs
H1 revenue at Rs. ______ crs
PAT up by ____% to Rs. ____ crs
EPS (not annualized) up to Rs. ____ from Rs. ____ (FV: Rs. 2)

Shrenuj & Company Limited announced a ____% increase in its sales revenue (consolidated) in H1-2008-9 to Rs. _______crores from Rs. ______ crores in corresponding period last year. Net profit registered a growth of ______% to Rs. ____ crores (H1-FY09), up from Rs_______ crores (H1-FY08). The EPS (not annualized) rose to Rs. ____ from Rs. ____ last year. The results were taken on records by the board of directors in their meeting held on 21st October, 2008. The results are in line with the expectations in view of the general economic slowdown in major consuming markets.

The consumers have been cautious in their spends on luxury and lifestyle products worldwide. Vishal Doshi, group executive director, said, “We have a widespread distribution across 13 countries that hedges us against country specific market risks. In the current market scenario, the emerging markets have shown growth as against stagnation in traditional markets. We believe that our presence across multiple countries and in multiple product categories enables us to shift focus as per the market forces. We are quite satisfied with the performance of the company and are confident that we will be able to meet our internal targets by the year end.”

Vishal Doshi added, “our efforts in value chain integration have a bearing on our performance. Our focus on downstream activities in jewellery and retail have brought us closer to the end consumers. This has resulted in a demand driven approach in manufacturing, resulting in significant decrease in overheads.”