Renaissance Global Ltd's Q2 FY24 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 September 30th, 2023.

During Q2 FY24, the direct-to-consumer business posted revenues of ₹53.8 crore compared to ₹43.9 crore in Q2 FY23, up by 23%. For H1FY24, the direct to customer business revenue was up by 29% to ₹109.1 crore. Based on our estimates of a quarter's contribution to annual sales, our annual revenue run rate of D2C business is at ₹311.8 crores in H1FY24 vs. actual FY23 revenues of ₹ 239.1 crores.



The Direct-to-consumer business is a high EBITDA margin business with normal 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.

Source : Equity Bulls

Keywords

RenaissanceGlobal Jewellery QuarterlyUpdate D2CBusiness Q2FY24