Renaissance Global Ltd's Q1 FY23 Direct-to-Consumer Business Update

Renaissance Global Limited (Renaissance) a global branded jewellery player, has shared the quarterly update on its direct-to-consumer (D2C) business for the quarter ended June 30, 2022.

During Q1 FY23, the direct-to-consumer business posted revenues of ₹40.7 crore compared to ₹25.0 crore in Q1 FY22, up by 62.9% YoY. Based on our estimates of a quarter's contribution to annual sales, our annual revenue run rate is at ₹203.6 crores in Q1 FY23 vs. actual FY22 revenues of ₹ 123.8 crores.

The Direct-to-consumer business is a high EBITDA margin business with margins in the range of 20-22%. With the growing share of direct-to-consumer revenues to total revenues, Renaissance is confident of its EBITDA margins showing an improving trend, going forward.

Shares of Renaissance Global Limited was last trading in BSE at Rs. 629.65 as compared to the previous close of Rs. 582.95. The total number of shares traded during the day was 14859 in over 1041 trades.

The stock hit an intraday high of Rs. 639.05 and intraday low of 592.00. The net turnover during the day was Rs. 9026320.00.

Source : Equity Bulls

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RenaissanceGlobal INE722H01016 RGL D2C BusinessUpdate Q1FY23