Q1 2025 Renaissance Global Ltd Earnings Call Transcript
Key Points
- Renaissance Global Ltd (BOM:532923) reported a 100 basis point increase in consolidated EBITDA margins year over year.
- The direct-to-consumer (D2C) segment saw a 30% revenue growth year over year in Q1 FY25.
- The company achieved an EBITDA margin of 7.6% in its own brands for Q1, reflecting a 340-basis-point improvement year over year.
- Lab-grown diamonds now account for 55% of the D2C business, indicating strong market acceptance.
- The company has exited the plain gold business in Dubai, resulting in an inventory reduction of INR75 crores.
- Total income decreased by 6% to INR447 crores in Q1 FY25 compared to INR476 crores in Q1 FY24.
- Net debt to equity ratio increased to 0.31 in June from 0.28 in March '24 and 0.22 in June '23.
- The India retail business is not yet profitable and continues to be a drag on overall margins.
- Visibility for the crucial Christmas season remains limited due to macroeconomic uncertainties in the US.
- Inventory levels are elevated due to a strong order book, which could pose a risk if demand does not materialize as expected.
Ladies and gentlemen, good day, and welcome to Renaissance Global Limited Q1 FY25 earnings conference call. (Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Ms. Jenny Rose from CDR India. Thank you, and over to you, ma'am.
Good afternoon, everyone, and thank you for joining us on Renaissance Global's Q1 FY25 earnings conference call. We have with us today: Mr. Sumit Shah, Chairman and Global CEO; and Mr. Hitesh Shah, Managing Director of the company.
We would like to begin the call with brief opening remarks from the management, following which, we will have the forum open for an interactive question-and-answer session. Before we start, I would like to point out that some statements made in today's call may be forward-looking in nature, and the disclaimer to this effect has been included in the results presentation shared with you earlier.
I would now like to invite Mr. Sumit to make his opening remarks. Over to you,
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