Jewellery maker and retailer with a growing US direct-to-consumer luxury brand called Jean Dousset. The company reported FY26 consolidated revenue of ₹2,81,303 Lakhs, of which revenue excluding bullion grew 29% YoY to ₹2,572 crore, with the US D2C business contributing ₹275 crore (up 44% YoY) at an EBITDA margin of 12.6%. The business sells luxury bridal and fashion jewellery through Jean Dousset stores to US consumers, alongside other jewellery and bullion operations. The company has opened three Jean Dousset stores so far — including a new San Francisco location in July 2026 — and plans to add stores in Washington DC, Boston, Chicago, and Dallas, taking the network to seven by FY27 end, with each store expected to generate ₹20-25 crore in annual revenue once fully operational. Materials are the single largest cost at 21.8% of revenue, followed by other operating expenses at 14.8% and employee costs at 3.6%. The company closed its Bhavnagar unit during the year (recording a ₹1,197.40 Lakhs exceptional charge), reduced gross debt by approximately ₹123 crore in Q4 FY26, and did not declare a dividend for FY26, citing Jean Dousset expansion, potential acquisitions, and debt reduction as priorities. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. US D2C luxury jewellery (Jean Dousset brand), Other non-bullion jewellery, Bullion sales. Jewellery manufacturer and retailer with a growing US luxury D2C store network
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 2,190 | 2,237 | 2,107 | 2,081 | 2,813 |
| EBITDA (ex other income) | 182 | 162 | 158 | 159 | 183 |
| margin % | 8.3 | 7.2 | 7.5 | 7.7 | 6.5 |
| Owners' profit | 106 | 87 | 72 | 76 | 90 |
| EPS, as reported (₹) | 56.49 | 9.22 | 7.59 | 7.68 | 9.51 |
| ROE % · ROCE % | 11.5 · 15.0 | 8.5 · 11.3 | 6.4 · 10.5 | 5.2 · 8.7 | 5.8 · 9.1 |
| Debt / equity (x) | 0.61 | 0.45 | 0.44 | 0.36 | 0.32 |
| Cash from operations | 88 | 230 | (41) | (1) | 54 |
| Capex | (20) | (39) | (15) | (31) | (13) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 412 | 710 | 514 | 530 | 546 | 963 | 773 | 780 |
| Profit before tax | 14 | 32 | 20 | 9 | 24 | 42 | 37 | 30 |
| Net profit | 11 | 24 | 23 | 7 | 20 | 33 | 30 | 26 |
| EPS (₹) | 1.17 | 2.50 | 2.39 | 0.59 | 1.80 | 2.99 | 3.01 | 2.37 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| TITAN COMPANY LIMITED | 4,44,743 | 77.5 | 28.32 | 51.7 | 32.3 | 32.7 | 32.3 | 14.2 |
| KALYAN JEWELLERS IND LTD | 62,083 | 43.3 | 9.84 | 23.4 | 21.4 | 22.1 | 33.0 | 6.5 |
| THANGAMAYIL JEWELLERY LTD | 15,910 | 40.7 | 11.24 | — | 24.8 | 30.3 | — | 5.4 |
| BLUESTONE JEWEL LFSTL LTD | 13,640 | 268.8 | 7.57 | 32.5 | 0.7 | 0.7 | — | 16.7 |
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 1 Sept 2026 · Allotment of 7,500 equity shares under ESOP 2021 scheme | capital market events | low | — | — |
| 1 Sept 2026 · RGL invests in Middle East jewellery brand Naman Trading | strategic transactions | high | — | — |
| 27 Aug 2026 · Renaissance Global announces 37th AGM on Sep 18, 2026 via video conferencing | board shareholder meetings | low | — | — |
| 27 Aug 2026 · 37th AGM notice on September 18, 2026 via video conferencing | board shareholder meetings | low | — | — |
| 13 Aug 2026 · Renaissance Global Q1 FY27: revenue up 30%, PAT jumps 288%, guides 30% bottom line growth | investor communications | medium | — | — |
| 10 Aug 2026 · Audio Recording of Q1 FY27 Earnings Call Available on Website | investor communications | low | — | — |
| 7 Aug 2026 · Strong Q1 FY27: Revenue up 30%, PAT up 288% YoY | investor communications | medium | — | — |
| 7 Aug 2026 · Strong Q1 FY27: PAT up 288%, revenue rises 30% YoY | investor communications | medium | — | — |
| 7 Aug 2026 · Two promoter group members withdraw reclassification request, will stay as promoters | ownership changes | medium | — | — |
| 7 Aug 2026 · Promoter Group members withdraw reclassification to Public | ownership changes | medium | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) |
| PC JEWELLER LTD | 13,342 | 13.9 | 1.63 | 16.5 | 8.7 | 8.6 | 3.5 | 27.8 |
| SKY GOLD AND DIAMONDS LTD | 12,822 | 38.2 | 10.63 | 29.1 | 23.4 | 29.8 | — | 8.2 |
| P N GADGIL JEWELLERS LTD | 8,307 | 18.6 | 4.23 | 14.1 | 20.9 | 26.1 | — | 8.0 |
| ETHOS LIMITED | 7,118 | 67.7 | 4.28 | 27.7 | 5.8 | 7.0 | — | 16.2 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 15.4 | 23.4 | 8 of 29 | 75% |
| P/B | 1.1 | 2.8 | 5 of 28 | 85% |
| ROCE | 6.4 | 16.7 | 22 of 28 | 22% |
| ROE | 5.8 | 14.6 | 21 of 28 | 26% |
| Debt / Equity | 0.3 | 0.3 | 15 of 28 | 48% |
| EBITDA margin | 6.4 | 10.7 | 24 of 30 | 21% |
| Revenue growth | 47.2 | 45.7 | 11 of 25 | 58% |
| Profit growth | 288.8 | 49.8 | 1 of 25 | 100% |
| Market cap | 1682 | 2587 | 19 of 30 | 38% |
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| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
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This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
