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Renaissance Global Q2 FY27 results: net profit up 16.5% to ₹23.56 crore, revenue up 27.1%
Renaissance Global Limited reported consolidated revenue of ₹694.24 crore in Q2 FY27, up 27.1% from a year earlier, while EBITDA rose 22.8% to ₹49.90 crore. Net profit was ₹23.56 crore and basic EPS was ₹2.48, with revenue lower than Q1 FY27 but EBITDA margin higher.
Key points
- Consolidated revenue was ₹694.24 crore in Q2 FY27, up ₹147.88 crore or 27.1% from Q2 FY26.
- EBITDA was ₹49.90 crore, up ₹9.27 crore or 22.8% year on year, while the margin was 7.2%.
- Net profit was ₹23.56 crore, up ₹3.33 crore or 16.5% from Q2 FY26, and basic EPS was ₹2.48.
- For H1 FY27, revenue was ₹1,474.69 crore, up 37.0%, and PAT was ₹47.5 crore, up 77.0%.
- The stock fell 5.5% on the reaction day, underperforming the Gems Jewellery And Watches industry median by 4.2 percentage points.
How did Renaissance Global perform in Q2 FY27?
Renaissance Global reported consolidated revenue of ₹694.24 crore for Q2 FY27, up ₹147.88 crore or 27.1% from ₹546.36 crore in Q2 FY26. Total income was ₹695.82 crore, up ₹146.96 crore or 26.8%. Revenue was down ₹86.21 crore or 11.0% from ₹780.45 crore in Q1 FY27, while total income fell ₹93.40 crore or 11.8%.
EBITDA was ₹49.90 crore in Q2 FY27, up ₹9.27 crore or 22.8% from ₹40.63 crore a year earlier, and the margin was 7.2% against 7.4%. Against Q1 FY27, EBITDA rose ₹8.98 crore or 21.9% and the margin increased 2.0 percentage points from 5.2%. PBT was ₹32.02 crore, while net profit was ₹23.56 crore and basic EPS was ₹2.48.
On the standalone basis, revenue was ₹423.85 crore and PAT was ₹8.87 crore. The company’s presentation used a separate revenue and profit presentation for its reporting measures, including revenue excluding bullion, so the consolidated figures above remain the basis for the financial result comparison.
| ₹ crore | Q2 FY27 | Q1 FY27 | Q2 FY26 | YoY | QoQ |
|---|---|---|---|---|---|
| Revenue from operations | 694.24 | 780.45 | 546.36 | +27.1% | −11.0% |
| Other income | 1.58 | 8.77 | 2.50 | −36.8% | −82.0% |
| Total expenses | 663.81 | 759.50 | 525.17 | +26.4% | −12.6% |
| EBITDA | 49.90 | 40.92 | 40.63 | +22.8% | +21.9% |
| EBITDA margin | 7.2% | 5.2% | 7.4% | −0.2 pp | +2.0 pp |
| Profit before tax | 32.02 | 29.71 | 23.70 | +35.1% | +7.8% |
| Tax | 8.46 | 4.07 | 3.46 | +144.5% | +107.9% |
| Net profit | 23.56 | 25.64 | 20.23 | +16.5% | −8.1% |
| EPS (₹) | 2.48 | 2.37 | 1.80 | +37.8% | +4.6% |
EBITDA here is revenue from operations less operating costs (total expenses excluding finance costs and depreciation): before other income and exceptional items. Growth is shown only when both figures are positive. Source: Company's results filing (XBRL).
What changed in Renaissance Global's costs and profit?
Total expenses were ₹663.81 crore in Q2 FY27, up ₹138.64 crore or 26.4% from ₹525.17 crore in Q2 FY26. Cost of materials was the largest increase, rising ₹86.76 crore or 57.5% to ₹237.70 crore, while other expenses rose ₹26.90 crore or 27.6% to ₹124.36 crore. Employee cost fell ₹4.50 crore or 18.2% to ₹20.29 crore.
Finance costs were ₹11.63 crore, up ₹0.27 crore or 2.4% from ₹11.36 crore, while depreciation was ₹7.83 crore, down ₹0.24 crore or 3.0% from ₹8.07 crore. Other income was ₹1.58 crore, down ₹0.92 crore or 36.8% from ₹2.50 crore, and tax expense was ₹8.46 crore, up ₹5 crore or 144.5% from ₹3.46 crore.
There was no exceptional item in Q2 FY27, Q1 FY27 or Q2 FY26. EBITDA margin fell 0.2 percentage points year on year and the PAT margin fell 0.3 percentage points, while against Q1 FY27 the EBITDA margin rose 2.0 percentage points and the PAT margin rose 0.1 percentage points.
| ₹ crore | Q2 FY27 | Q2 FY26 | Change | Change % |
|---|---|---|---|---|
| Cost of materials | 237.70 | 150.94 | +86.76 | +57.5% |
| Employee cost | 20.29 | 24.79 | −4.50 | −18.2% |
| Finance costs | 11.63 | 11.36 | +0.27 | +2.4% |
| Depreciation | 7.83 | 8.07 | −0.24 | −3.0% |
| Other expenses | 124.36 | 97.46 | +26.90 | +27.6% |
| Total expenses | 663.81 | 525.17 | +138.64 | +26.4% |
| Other income | 1.58 | 2.50 | −0.92 | −36.8% |
| Tax | 8.46 | 3.46 | +5 | +144.5% |
Source: Company's results filing (XBRL).
How did the first half of FY27 go?
In H1 FY27, consolidated revenue was ₹1,474.69 crore, up ₹398.01 crore or 37.0% from H1 FY26. Total income was ₹1,485.04 crore, up ₹401.25 crore or 37.0% from ₹1,083.79 crore, while PBT was ₹61.73 crore, up ₹28.71 crore or 86.9%.
PAT for H1 FY27 was ₹47.5 crore, compared with ₹26.83 crore in H1 FY26, an increase of ₹20.67 crore or 77.0%. Basic EPS rose from ₹2.39 to ₹3.51, up ₹1.12 or 46.9%.
| ₹ crore | H1 FY27 | H1 FY26 | Change |
|---|---|---|---|
| Revenue from operations | 1,475 | 1,077 | +37.0% |
| Profit before tax | 61.73 | 33.02 | +86.9% |
| Net profit | 47.50 | 26.83 | +77.0% |
| EPS (₹) | 3.51 | 2.39 | +46.9% |
Source: Company's results filing (XBRL).
What do the balance sheet and cash flow show?
At 30 September 2026, total assets were ₹2,676.11 crore, compared with ₹2,412.1 crore at 31 March 2026. Total equity was ₹1,612.77 crore against ₹1,543.54 crore, borrowings were ₹582.24 crore against ₹490.35 crore, and cash was ₹75.07 crore against ₹58.48 crore. Inventories were ₹1,043.19 crore, trade receivables ₹829.71 crore and trade payables ₹253.42 crore.
H1 FY27 operating cash flow was ₹143.42 crore, compared with an outflow of ₹82.2 crore in H1 FY26. Investing cash flow was negative ₹188.9 crore against positive ₹6.67 crore, while financing cash flow was ₹62.08 crore against ₹16.86 crore. Capital expenditure was ₹17.33 crore compared with ₹3.8 crore.
| ₹ crore | As of 30 September 2026 | As of 31 March 2026 |
|---|---|---|
| Total assets | 2,676 | 2,412 |
| Total equity | 1,613 | 1,544 |
| Borrowings | 582.24 | 490.35 |
| Cash and equivalents | 75.07 | 58.48 |
| Inventories | 1,043 | 940.95 |
| Trade receivables | 829.71 | 840.68 |
Source: Company's results filing (XBRL).
| ₹ crore | H1 FY27 | H1 FY26 |
|---|---|---|
| Cash from operations | 143.42 | −82.20 |
| Cash from investing | −188.90 | 6.67 |
| Cash from financing | 62.08 | 16.86 |
| Capital expenditure | 17.33 | 3.80 |
Source: Company's results filing (XBRL).
How has Renaissance Global done over the last 8 quarters?
Revenue rose year on year in each of the last six quarters. It peaked at ₹962.94 crore in Q3 FY26, while the lowest point in the series was ₹514.4 crore in Q4 FY25. In Q2 FY27, revenue was ₹694.24 crore, below ₹780.45 crore in Q1 FY27 but above ₹546.36 crore in Q2 FY26.
Profit rose year on year in each of the last five quarters. PAT peaked at ₹33.21 crore in Q3 FY26 and was lowest at ₹6.6 crore in Q1 FY26. It was ₹23.56 crore in Q2 FY27, below ₹25.64 crore in the previous quarter. The EBITDA margin bottomed at 5.2% in Q1 FY27, peaked at 7.5% in Q4 FY26 and was 7.2% in Q2 FY27.
What else did the company announce?
The board adopted the unaudited standalone and consolidated financial results for the quarter and half year ended 30 September 2026 on 6 November 2026, after review by the audit committee. The filing included independent auditors’ limited review reports. The company also filed a press release and an earnings presentation on Q2 and H1 FY27 results; the available filings do not state a dividend, fund raise or appointment.
What did Renaissance Global's management say?
Management said in the investor presentation that owned brands were the fastest-growing and highest-value segment. It also said the company was focused on optimising the working-capital cycle to 180 days, reducing net debt to about ₹100 crore, and expanding Jean Dousset from four trading boutiques to eight by the end of FY27.
Management identified licensed-brand contraction, a lower H1 FY27 EBITDA margin excluding bullion, the working-capital cycle at 208 days, short-term trade finance and higher bullion sales as risks or factors affecting comparability. It said the next boutique openings were scheduled for Washington, D.C., Chicago, Miami and Dallas, and that the company’s priorities included working-capital efficiency, cash conversion and debt reduction.
The investor presentation set out expected owned-brand revenue CAGR of +65.7% p.a. Management also highlighted customer-brand growth with lower segment margins, licensed-brand rationalisation and greater focus on Disney. The available presentation did not include any analyst questions or answers.
How did Renaissance Global shares react?
The stock was down 0.3% five minutes after the filing appeared, down 4.6% after 15 minutes and up 0.6% after 30 minutes. It closed the reaction day down 5.5% from the pre-results close, while the Gems Jewellery And Watches industry median fell 1.3%, leaving Renaissance Global 4.2 percentage points below the industry median. No one-day or five-day reaction was available.
Earlier results-day moves were negative on 7 August 2026 at 5.0%, 28 May 2026 at 1.9%, 12 February 2026 at 8.8%, 13 November 2025 at 1.5%, 30 May 2025 at 2.7% and 13 February 2025 at 12.9%. The stock had risen 1.3% on 12 August 2025 and fallen 0.6% on 13 November 2024.
| After the filing | Stock | Gems Jewellery And Watches median |
|---|---|---|
| 5 minutes | −0.3% | |
| 15 minutes | −4.6% | |
| 30 minutes | +0.6% | |
| Reaction day | −5.5% | −1.3% |
Minutes are measured from the price when the filing appeared; days from the previous close. Source: MarketPing price-reaction measurement.
| Results filed on | Stock on the reaction day |
|---|---|
| 7 August 2026 | −5.0% |
| 28 May 2026 | −1.9% |
| 12 February 2026 | −8.8% |
| 13 November 2025 | −1.5% |
| 12 August 2025 | +1.3% |
| 30 May 2025 | −2.7% |
| 13 February 2025 | −12.9% |
| 13 November 2024 | −0.6% |
Source: MarketPing price-reaction measurement.
How did other Gems Jewellery And Watches companies do?
Thirteen other Gems Jewellery And Watches companies had filed for the quarter by 6 November 2026. Their median revenue growth was 39.7%, compared with Renaissance Global’s 27.1% consolidated revenue growth. Eight peers grew faster than the company and five grew more slowly.
Of the 13 peers for which profit was compared, 10 reported higher profit. Renaissance Global’s consolidated Q2 FY27 PAT was ₹23.56 crore, up 16.5% from a year earlier.
| Renaissance Global revenue growth (YoY) | +27.1% |
|---|---|
| Median of 13 other Gems Jewellery And Watches companies | +39.7% |
| Companies with slower revenue growth than Renaissance Global | 5 of 13 |
| Companies with faster revenue growth than Renaissance Global | 8 of 13 |
| Companies whose net profit rose | 10 of 13 |
Source: Filed results (XBRL) of the industry's companies.
Quick answers
What was Renaissance Global's revenue in Q2 FY27?
Revenue from operations was ₹694.24 crore, up 27.1% from ₹546.36 crore in Q2 FY26 (consolidated).
Did Renaissance Global make a profit in Q2 FY27?
Yes. Net profit was ₹23.56 crore, against a net profit of ₹20.23 crore in Q2 FY26.
What was Renaissance Global's EPS in Q2 FY27?
Basic earnings per share were ₹2.48, against ₹1.80 in Q2 FY26.
How did Renaissance Global shares react to the Q2 FY27 results?
On the reaction day the stock moved −5.5% from the previous close; the median Gems Jewellery And Watches stock moved −1.3%.
When did Renaissance Global announce its Q2 FY27 results?
On 6 November 2026, in a filing to the BSE.
Sources
- Board Meeting Intimation for Intimation Of Board Meeting (BSE, 3 November 2026) · PDF
- Board Meeting Outcome for Outcome Of Board Meeting Held On November 06, 2026 (BSE, 6 November 2026) · PDF
- Unaudited Financial Results (Standalone And Consolidated) For The Second Quarter And Half Year Ended September 30, 2026 (BSE, 6 November 2026) · PDF
- Announcement under Regulation 30 (LODR)-Press Release / Media Release (BSE, 6 November 2026) · PDF
- The investor presentation (6 November 2026)
How this was written: every figure in the tables and charts is calculated from the company’s filed results (XBRL) and MarketPing’s price measurements. The text is drafted with AI from those figures and the filings, and a checker removes any sentence carrying a number it cannot trace to them. How we write these.
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