News

Advanced Search

Shrenuj & Co. Sales +21%

Net Profits +23% in 4Q

May 30, 2011 6:30 AM   By Avi Krawitz
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share
RAPAPORT... Shrenuj & Co. sales grew 21 percent year on year to $163 million (INR 7.34 billion) in the fourth fiscal quarter that ended March 31, 2011, the Mumbai-based company reported. Diamond sales increased 27 percent to $132.5 million (INR 5.97 billion) and studded jewelry sales rose 43 percent to $35.6 million (INR 1.6 billion). Inter segment sales of $5 million (INR 227.9 million) were recorded during the period.

The diamond and jewelry manufacturer saw net profits increase 23 percent to $3.6 million (INR 161.8 million). Diamond profits before tax and interest grew 5 percent to $6.9 million (INR 312.2 million) and jewelry profits before tax and interest increase 46 percent to $2.7 million (INR 120.9 million).

For the full fiscal year 2011, group sales rose 30 percent to $545.4 million (INR 24.56 billion) with diamond sales up 35 percent to $408.4 million (INR 18.39 billion) and jewelry sales increasing 23 percent to $145 million (INR 6.53 billion). Inter segment sales of $8.1 million (INR 364.6 million) were recorded.

Annual net profits rose 20 percent to $13 million (INR 584.7 million). The company’s inventories grew 34 percent from a year earlier to $282.1 million (INR 12.71 billion) at March 31, while cash and bank balances fell 11 percent to $19.4 million (INR 872.3 million).

Tags: Avi Krawitz, Diamond cutting, jewelry manufacturing, Shrenuj & Co.
Similar Articles
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First
© Copyright 1978-2020 by Rapaport USA Inc. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are registered TradeMarks.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.