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Sunday, October 25, 2009

Shrenuj & Company Ltd:Future growth prospects and outlook

Scripscan:Shrenuj & Company Ltd

Story:Shrenuj & Company Limited isan integrated diamonds and jewellery conglomerate.The Group's principal activity is to manufacture diamond jewelleries. The Group's activities ranges from rough and polished diamonds to jewelry, branding and retailing. Last year it forayed into jewellery retailing in India. The company has launched its retail operations under the "Diti" brand, based on a shop-in-shop model. The jewellery is attractively priced at an average ticket size of Rs. 15,000 per piece.Shrenuj has entered jewellery retailing through its acquisition of Daily Jewellery in Hong Kong in 2003. The discount retail chain was re-positioned as fashion jewellery chain under the brand Joliesse. The chain presently has 12 stand alone shops in Hong Kong and is slated to make an entry in mainland China by the end of 2008 by opening a store in Shanghai. In China, company will adopt dual model of shop in shop and stand alone stores.In addition, Shrenuj has a brand portfolio comprising of leading brands such as Sveni, Bhavya, Arisia (co-owned), Fiana, Valina, Caro74, MasterCut, Scintilla66 and Amante88. These brands are retailed through exclusive arrangement with independent retailers in 9 countries.Shrenuj plans to grow the number of shop in shop outlets from the present to 170 stores in the next 3 years. The retail model is also planned to have 10 flagship stores in high street malls.The company is expecting major Q3 sales from gems and jewellery and managment is aiming a revenue increase of 25% over last year.Shrenuj has clocked 35% higher sales this month so far as compared to the months prior to Diwali.The company is looking at in-hand sales of close to 15% over last Diwali.The coming quarters should be good for the company.With gems and jewellery sector slowly coming to the reckoning,shrenuj can be one of the stocks to watch out for..

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