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Shrenuj & Co. Sales +21%

Net Profits +23% in 4Q

May 30, 2011 6:30 AM   By Avi Krawitz
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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.
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