Editor’s Note
Renaissance Jewellery’s strong Q2 FY2026 results highlight its resilience and strategic growth in the global market. This article details the company’s financial performance and key drivers behind its success.
Renaissance Jewellery, a leading player in the global jewelry industry, has reported a robust performance for the second quarter of fiscal year 2026, showcasing significant growth across key financial metrics.
The company delivered an impressive 40% year-over-year revenue growth in Q2 FY26. However, it’s important to note that this figure includes approximately 75 crores of bullion sales to third-party factories in UAE for country of origin manufacturing, which is expected to normalize by Q4 FY26.
Renaissance Global’s direct-to-consumer (D2C) business continued its strong growth trajectory, expanding by 43% year-over-year. The performance was particularly robust in the US D2C brands, which grew by 60% compared to the same period last year.
Profitability saw significant improvements during the quarter:
- Profit before tax (PBT) increased by 69% year-over-year to 23.70 crores
- Profit after tax (PAT) rose by more than 80% year-over-year
These improvements reflect a better product mix, operating leverage, and disciplined execution.
Renaissance Global’s cost optimization initiatives have yielded substantial benefits:
- Total expenses (excluding sales and promotion) declined by 11.30 crores for the quarter compared to the same period last year
- The company is on track to deliver annualized cost savings of over 40 crores
A major milestone in the company’s premium lab-grown diamond jewelry strategy is the planned opening of its second Jean Dousset Boutique in New York City, set for mid-November 2025. This marks the entry into one of the world’s most influential luxury markets. The company plans to open an additional two or three Jean Dousset stores in calendar year 2026, aiming to bring the total footprint to five locations.
The company’s balance sheet continues to strengthen:
- Net debt improved to 0.24 compared to 0.27 last year
This improvement reflects better working capital management and improved cash generation.
Renaissance Global is focusing on scaling its owned brands, enhancing efficiencies, and strengthening its portfolio mix:
- The company aims to achieve its FY26 direct-to-consumer revenue target of 305 crores
- D2C profitability strengthened significantly, with EBITDA for Q2 FY26 growing 96% to 7.20 crores
- EBITDA margins in the D2C segment expanded from 8.8% in Q2 FY25 to 12.1% in Q2 FY26
The company expects to continue seeing 40% to 60% growth in its direct-to-consumer business, while the licensed brands and customer business are projected to see low double-digit growth.
Renaissance Global is well-positioned in both the lab-grown and natural diamond jewelry segments. The company’s strategy involves:
- Focusing on high-margin, high-growth D2C segment
- Maintaining disciplined cost management
- Balancing growth with prudent debt management
With these strategic priorities and a balanced business mix, Renaissance Global aims to sustain its growth trajectory and create long-term value for stakeholders.
