Renaissance Global Q2 revenue rises to Rs 664.24 crore

Renaissance Global Limited reported consolidated revenue from operations of Rs 664.24 crore for the quarter ended September 30, 2026, up from Rs 546.36 crore a year earlier, while net profit after tax rose to Rs 25.85 crore from Rs 20.03 crore. The board approved the unaudited results on November 6, 2026.

How did Renaissance Global perform in Q2?

Renaissance Global increased revenue from operations by 21.58% year on year to Rs 664.24 crore in the September 2026 quarter, while total income rose to Rs 665.82 crore from Rs 548.85 crore in the quarter ended September 30, 2025. Other income declined to Rs 1.58 crore from Rs 2.49 crore, so the increase in total income primarily reflected higher operating revenue.

Renaissance Global reported profit before tax of Rs 32.02 crore, compared with Rs 20.61 crore a year earlier, and net profit after tax of Rs 25.85 crore, compared with Rs 20.03 crore. Income-tax expense rose to Rs 7.33 crore from Rs 2.99 crore, comprising current tax of Rs 7.33 crore and deferred-tax credit of Rs 1.15 crore in the latest quarter.

Renaissance Global's sequential revenue was lower than the Rs 780.45 crore reported for the quarter ended June 30, 2026, but net profit increased from Rs 21.65 crore. The filing does not give management's explanation for that change, although the reported purchases of stock-in-trade and inventory movement differed substantially between the two quarters.

What changed in Renaissance Global's costs and inventory?

Renaissance Global reported purchases of stock-in-trade of Rs 817.91 crore in the September 2026 quarter, compared with Rs 314.45 crore a year earlier and Rs 18.74 crore in the June 2026 quarter. The inventory-change line was negative Rs 555.92 crore, compared with negative Rs 81.92 crore in the September 2025 quarter and positive Rs 414.63 crore in the June 2026 quarter.

A negative amount in the change in inventories of finished goods, stock-in-trade and work in progress reduces expenses under that reported line. In the September quarter, the Rs 555.92 crore negative inventory movement offset a substantial part of the Rs 817.91 crore stock-in-trade purchase expense. The filing supplies the reported accounting lines but does not state the operational reasons for the inventory movement.

Renaissance Global's material-consumption cost rose by Rs 86.76 crore year on year, while employee-benefit expense fell by Rs 4.71 crore. Net foreign-exchange loss increased by Rs 9.17 crore to Rs 20.27 crore, whereas finance costs decreased by Rs 1.71 crore to Rs 11.65 crore. Depreciation and amortisation expense was Rs 7.85 crore, compared with Rs 8.07 crore in the prior-year quarter.

What do Renaissance Global's six-month results show?

Renaissance Global reported revenue from operations of Rs 1,474.65 crore for the six months ended September 30, 2026, up from Rs 1,076.68 crore in the corresponding six months of 2025. Net profit after tax rose to Rs 51.49 crore from Rs 28.85 crore, while profit before tax increased to Rs 61.73 crore from Rs 11.02 crore.

The prior-year comparison included an exceptional item relating to the Bhavnagar unit closure. Renaissance Global disclosed Rs 13.97 crore of closure expenses during the six months ended September 30, 2025 and the year ended March 31, 2026; no exceptional item is shown for the six months ended September 30, 2026. That disclosed item affects comparison of the two half-year profit-before-tax figures.

Renaissance Global generated net cash from operating activities of Rs 143.42 crore in the six months ended September 30, 2026, compared with Rs 12.10 crore a year earlier. An increase in inventories used Rs 182.24 crore of working capital, versus Rs 89.00 crore in the prior-year period, while trade and other payables increased by Rs 117.99 crore.

What does Renaissance Global's balance sheet show?

Renaissance Global held inventories of Rs 1,043.19 crore at September 30, 2026, compared with Rs 940.95 crore at March 31, 2026. Trade receivables declined to Rs 829.71 crore from Rs 840.68 crore, while cash and cash equivalents increased to Rs 75.07 crore from Rs 58.48 crore over the same period.

Renaissance Global reported total assets of Rs 2,678.12 crore at September 30, 2026, compared with Rs 2,412.00 crore at March 31, 2026. Goodwill rose to Rs 307.98 crore from Rs 105.87 crore, investments rose to Rs 70.61 crore from Rs 17.77 crore, and current borrowings increased to Rs 532.33 crore from Rs 456.81 crore.

Renaissance Global operates primarily in jewellery and therefore reported no separate operating segment under Indian Accounting Standard 108, Operating Segments. The balance sheet also included Rs 70.22 lakh of assets held for sale after management decided during the period to sell the company's assets at Plot C4, MIDC, Andheri East.

Conclusion

Renaissance Global's September 2026 quarter showed higher year-on-year revenue and net profit, with revenue from operations rising by 21.58% to Rs 664.24 crore and net profit reaching Rs 25.85 crore. The cost profile included higher stock-in-trade purchases and materials consumed, partly offset by a substantially negative inventory-change line, while foreign-exchange losses increased from the prior-year quarter.

The next reported periods will show whether inventory, which rose to Rs 1,043.19 crore and used Rs 182.24 crore of working capital in the first half, changes further. Renaissance Global has also disclosed a plan to sell the Andheri East assets classified as held for sale at Rs 70.22 lakh, but the filing gives no completion date, buyer or expected proceeds.