Renaissance Global Ltd — Q1 FY27 earnings call
Summary generated by AI from the official transcript Renaissance Global Ltd filed with BSE on 13 Aug 2026. Every statement cites a verbatim quote from that document — open any citation to read it. This is a record of what management said, not a recommendation. How we check these summaries
The short read
Renaissance Global reported Q1 FY27 revenue growth of 30% year-over-year to INR690 crores, with EBITDA up 22% to INR50 crores and profit after tax up sharply to INR26 crores. Management attributed the growth to strength across its owned brand and customer brand businesses, while highlighting continued expansion of its Jean Dousset, WithClarity and Enchanted Disney Fine Jewelry brands. The company also discussed working capital initiatives, planned exits from certain low-margin customer relationships, and progress on retail store rollout for Jean Dousset.
1 statement from this call is not shown because its supporting quote could not be reproduced within our quoting limits. Nothing shown here is affected: every statement on this page carries its verified quote.
Numbers mentioned
Revenue: INR690 crores (Q1 FY27)
p. 3
“During the quarter, our revenue grew by 30% year-over-year to INR690 crores, while EBITDA increased by 22% to INR50 crores.”
Sumit Shah, page 3 of the filed PDF · View the filing
Profit after tax: INR26 crores (Q1 FY27)
p. 3
“Profit after tax grew sharply at 288% year-over-year to INR26 crores.”
Sumit Shah, page 3 of the filed PDF · View the filing
Revenue excluding bullion sales: INR690 crores (Q1 FY27)
p. 4
“Our revenue, excluding bullion sales grew by 30% year-on-year to INR690 crores compared with INR530 crores in Q1 FY26.”
Darshil Shah, page 4 of the filed PDF · View the filing
Owned brand revenue: INR89 crores (Q1 FY27)
p. 4
“Revenue increased by 29% year-on-year to reach INR89 crores from INR69 crores in the corresponding quarter last year.”
Darshil Shah, page 4 of the filed PDF · View the filing
EBITDA: INR50 crores (Q1 FY27)
p. 4
“Moving to EBITDA. EBITDA increased by 22% year-on-year to reach INR50 crores, compared with INR41 crores in Q1 FY26.”
Darshil Shah, page 4 of the filed PDF · View the filing
EBITDA margin from owned brands: 11.5% (Q1 FY27)
p. 4
“EBITDA from owned brands grew to 11.5% from 10% in Q1 FY26.”
Darshil Shah, page 4 of the filed PDF · View the filing
Profit after tax: INR25.6 crores (Q1 FY27)
p. 4
“Profit after tax increased by approximately 280% year-on-year to reach INR25.6 crores compared with INR6.6 crores in Q1 FY26.”
Darshil Shah, page 4 of the filed PDF · View the filing
Profit before exceptional items: INR29.7 crores (Q1 FY27)
p. 5
“Profit before exceptional items grew by 40% year-on-year to INR29.7 crores, reflecting the strength of the operating performance.”
Darshil Shah, page 5 of the filed PDF · View the filing
Working capital days: 220 days (Q1 FY27)
p. 5
“Our working capital efficiency improved meaningfully during the quarter with working capital days reducing to 220 days from 253 days in Q1 FY26, representing an improvement of 33 days year-on-year.”
Darshil Shah, page 5 of the filed PDF · View the filing
WithClarity revenue run rate: INR220-odd crores
p. 10
“Yes. So I think WithClarity is currently at a revenue run rate of about INR220-odd crores and it's growing at a healthy clip of about 20% or so.”
Sumit Shah, page 10 of the filed PDF · View the filing
Consolidated margin: 7.2% (Q1 FY27)
p. 8
“our margins year-over-year are down from 7.7% to 7.2%.”
Sumit Shah, page 8 of the filed PDF · View the filing
Direct-to-consumer revenue from owned brands: INR375 crores (FY27)
p. 12
“So currently, our direct-to-consumer revenues are forecast to be about INR375 crores from our own brands and about INR125 crores from the licensed brands.”
Sumit Shah, page 12 of the filed PDF · View the filing
What management said it would do
A record of statements made on the call, in the words management used. Parakho does not forecast, endorse or assess them, and their presence here is not a view on whether they will happen.
Direct-to-consumer revenue — INR1,000 crores · FY29
stated firmly by Sumit Shah
p. 4
“We remain committed to achieving INR1,000 crores of direct-to-consumer revenue by FY29 with an operating margin of at least 15% from this segment.”
Sumit Shah, page 4 of the filed PDF · View the filing
Working capital reduction — approximately INR250 crores · FY27
stated firmly by Sumit Shah
p. 4
“The initiatives currently underway are expected to deliver working capital improvements of approximately INR250 crores in the current financial year and generate cash flow from operations of more than INR300 crores during the year.”
Sumit Shah, page 4 of the filed PDF · View the filing
Jean Dousset store count — 4 more locations · FY27
stated firmly by Sumit Shah
p. 3
“And during FY27, we intend to add 4 more locations.”
Sumit Shah, page 3 of the filed PDF · View the filing
Bottom line growth — more than 30% · FY27
stated firmly by Sumit Shah
p. 6
“Yes, our expectation is to -- that bottom line should grow more than 30% for the year.”
Sumit Shah, page 6 of the filed PDF · View the filing
Revenue reduction from customer exits — INR300 crores to INR400 crores · FY27
stated firmly by Sumit Shah
p. 6
“The customers that we are exiting would result in INR300 crores to INR400 crores reduction in revenue.”
Sumit Shah, page 6 of the filed PDF · View the filing
Licensed brand profitability — 14%, 15%
stated as an aspiration by Sumit Shah
p. 7
“We expect this business to grow from here from this space. And also improve back in profitability, back to the 14%, 15% that we were seeing earlier.”
Sumit Shah, page 7 of the filed PDF · View the filing
Jean Dousset store count — 7 stores · FY27
stated firmly by Sumit Shah
p. 11
“Yes. So I think currently, our business plan is to get to 7 stores by the end of the current financial year.”
Sumit Shah, page 11 of the filed PDF · View the filing
Jean Dousset store count — 6 more stores · FY28
stated firmly by Sumit Shah
p. 11
“And then the plan would be to add 6 more stores in the following year.”
Sumit Shah, page 11 of the filed PDF · View the filing
Net debt — FY27
stated firmly by Sumit Shah
p. 10
“our expectation is that we will end the year with meaningfully lower net debt as compared to what we did 1 year ago.”
Sumit Shah, page 10 of the filed PDF · View the filing
Cash flow from operations — more than INR300 crores · FY27
stated firmly by Sumit Shah
p. 9
“So we're open, nothing to report yet, but when there is something to report, we'll definitely announce it”
Sumit Shah, page 9 of the filed PDF · View the filing
Q&A highlights
Management's answers to analyst questions, in Parakho's words rather than a transcript. Each row names who answered and carries the verbatim quote it was drawn from.
Management said bottom line momentum should continue but revenue growth may moderate due to planned exits from unprofitable business lines.
Answered by Sumit Shah
Asked by Ashok Shah: Will revenue growth momentum continue through the year?
p. 5
“So while revenue growth may not continue at this momentum, we expect bottom line to be equal to or greater than the current momentum that we've experienced after restructuring charges.”
Sumit Shah, page 5 of the filed PDF · View the filing
Management said no refund has been received yet and the application process is ongoing.
Answered by Sumit Shah
Asked by Ashok Shah: Did the company receive any US tariff refund?
p. 5
“Not yet. We are in the process of applying for tariff refunds and we do expect to get some refunds for tariffs.”
Sumit Shah, page 5 of the filed PDF · View the filing
Management explained the plan involves exiting certain low-margin, high working-capital customers in the customer brands segment.
Answered by Sumit Shah
Asked by Manprit Aurora: Can you elaborate on the INR250 crore working capital reduction initiatives?
p. 6
“So we made a strategic decision to exit certain customers, which would actually lead to meaningful reduction in working capital.”
Sumit Shah, page 6 of the filed PDF · View the filing
Management said margins fell due to a wide brand portfolio and exit costs from rationalizing unprofitable licenses, with focus shifting to Disney.
Answered by Sumit Shah
Asked by Manprit Aurora: What is driving the decline in licensed brand margins?
p. 7
“So on the licensed brand segment, we were operating a very wide portfolio of brands and even within this portfolio, what we've done is we've rationalized some of the licenses and the focus going forward is going to be primarily on the Disney relationship, and the Disney license.”
Sumit Shah, page 7 of the filed PDF · View the filing
Management said the customer brands revenue should decline sequentially starting Q2 and continue tapering through Q3 and Q4.
Answered by Sumit Shah
Asked by Uchit Shah: When will the B2B/customer brand degrowth start showing sequentially?
p. 9
“Yes. I think the degrowth should start. So on a sequential basis, the revenue should go down in Q2 as well, and it will continue to sort of taper off in Q3 and Q4.”
Sumit Shah, page 9 of the filed PDF · View the filing
Management said new stores typically become profitable within 2-3 months with payback under a year.
Answered by Sumit Shah
Asked by Dhaval Pandya: What is the breakeven period for Jean Dousset stores?
p. 9
“And currently, based on the unit economics, we see a payback of less than 1 year for the JD stores.”
Sumit Shah, page 9 of the filed PDF · View the filing
Management attributed the forex loss to currency appreciation and said it should reduce if the currency stabilizes.
Answered by Darshil Shah
Asked by Prateek Chaudhary: Will the forex loss reduce going forward?
p. 11
“So I think as -- I mean, hopefully, if the currency stabilizes around this level, we should see a meaningful reduction in the foreign exchange loss going forward.”
Darshil Shah, page 11 of the filed PDF · View the filing
Management said WithClarity has a revenue run rate of about INR220 crores, growing 20%, with margins around 11-13%.
Answered by Sumit Shah
Asked by Khushi Jain: What is WithClarity's current revenue and profitability?
p. 10
“So as the current margins are 11% to 13% for this brand. We expect that to scale as our operating cost scale.”
Sumit Shah, page 10 of the filed PDF · View the filing
Risks flagged
Revenue decline from exiting unprofitable customer brand relationships
p. 6
“On an annualized basis, this will result in an approximately INR300 crores to INR400 crores reduction in revenue.”
Sumit Shah, page 6 of the filed PDF · View the filing
Foreign exchange losses due to currency appreciation
p. 11
“Yes. So I think the forex loss is clearly due to the sort of an appreciation in the currency.”
Darshil Shah, page 11 of the filed PDF · View the filing
Margin dip attributed to exit costs from restructuring customer lines
p. 11
“a slight dip in margin can also be attributed to some of the exit costs as we are attempting to reduce our inventory and receivable during the course of the year.”
Sumit Shah, page 11 of the filed PDF · View the filing
Uncertainty around timing and amount of tariff refunds
p. 5
“We don't have that data yet. We are still in the process of getting the application together and putting it through.”
Sumit Shah, page 5 of the filed PDF · View the filing
Generated by claude-sonnet-5. Source: the transcript as filed with BSE. We link to the exchange's copy; we do not host transcripts. Parakho is a data and screening tool, not an investment adviser — nothing here is a recommendation to buy, sell or hold.