Press releasesMumbai (June 30, 2008)
Shrenuj and Company Ltd. FY08 Net Sales up by 25% at Rs - 1225 crore PAT up by 36% at Rs- . 45 crore
- Net sales for FY08 up by 25 % at Rs 1225 crore
- Net profit for FY08 up by 36 % to Rs 44.49 crore
- EPS for FY08 works out to Rs 6.46 (FV 2)
- Declared divided of 40% (Rs. 0.80 per share) on a FV of Rs.2
Mumbai, June 30, 2008:
Shrenuj and Company Ltd., an integrated Gem and Jewellery company, today reported Net sales of Rs.1225 crore for the year ended March 31, 2008 as against Rs.980 crore posted in same period of the last year, registered a growth of 25%. Net profit for the year ended March 31, 2008 rose by 36% to Rs. 45 crore, as against Rs 33 crore posted in the same period of last fiscal. Earnings per Share (EPS) for FY08 stood at Rs.6.46(FV 2), compared to Rs.5.43 in FY07.
The board proposed a dividend of 40%
Commenting on the results, Mr. Shreyas Doshi, Managing Director, Shrenuj and Company Ltd. said, “we have continued to grow at faster rate as compared to the industry. The operational efficiencies have resulted in improved profitability. We expect this trend to continue in the current year. "
About Shrenuj and Company Ltd.:
Shrenuj & Company Limited is an integrated gem and jewellery conglomerate having presence across 13 countries with activities ranging from diamond processing, jewellery manufacturing to branding and retailing. It employs over 2,500 people in its worldwide operations. Shrenuj Group’s state of the art diamond manufacturing facilities in India and Israel specialize in processing better quality high value diamonds in larger sizes, a traditional non-Indian product and one of Shrenuj’s key differentiators. Shrenuj also processes smaller diamonds, regular Indian products, in its other units.
Shrenuj’s international distribution model compliments its international manufacturing platform. Based on hub-and-satellite approach (logistical hubs located in key trading centers and satellites operating in the consumption markets), its 15 offices cater to almost all corners of the world. The company has entered into JVs in Israel, France, USA and Hong Kong, in addition to its own offices worldwide. The recent acquisition of Simon Golub and Sons, one of the top US jewellery distributors, has added to the reach of Shrenuj in USA and Canada.
Shrenuj’s jewellery manufacturing operations are located in India, in addition to dedicated outsourcing facilities in China, controlled by a strong outsourcing and quality assurance office in Hong Kong. The product development team of designers and merchandisers is spread across the globe, to cater to national as well as international markets to quickly respond to the changes in fashion trends. Shrenuj is a recipient of many national and international jewellery awards.
Shrenuj has developed many successful international diamond jewellery brands, such as Arisia, Sveni and Bhavya (India and Middle East), Valina and Caro 74 (USA), Fiana (France), Scintilla88 and MasterCut (Australia), and Amante88 (Hong Kong). In addition, Shrenuj is a leading participant in DTC’s Forevermark Programme in Japan and India one of the authorized manufacturers of Platinum Guild International. These brands are managed independently by Shrenuj’s own marketing teams in each country, backed by a strong downstream distribution worldwide.
Shrenuj’s retail strategy focuses on leveraging the potential in high growth- low risk developing markets in India, China and Middle East. Shrenuj has its own jewellery retailing operations in Hong Kong, the fashion capital of China. The fashion jewellery retail chain operates under Joliesse brand. Strategically located Joliesse stores offer contemporary and stylish jewellery to Hong Kong residents and the visitors from Mainland China. Shrenuj has also launched its jewellery retail operations in India under Diti brand. Diti is expected to grow to 170 POS in 29 Indian cities in the next two years.
Shrenuj has always pioneered in introducing various systems and procedures in an effort to bring about efficiency and transparency in dealing with its internal as well as external customers.
For More Information Please Contact:
Shrenuj and company Ltd.
Shrenuj and company Ltd.