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Tuesday, August 16, 2011

Renaissance Jewellery Ltd:-Buy/sell/,growth prospects and recommendation,news and results,target price and analysis,view and outlook,multibagger

Calls review:Renaissance Jewellery Ltd
Recommended price:18(6.3.09)
Present price:96

Scripscan:Renaissance Jewellery Ltd
Traded in:Nse-bse

Story:Recently had an interaction with Renaissance Jewellery"s MD,MR Sumit Shah.Heres what he had to say,Despite the US economy facing risks of a recession and gold prices ruling at all time highs, Renaissance continues with its US-centric approach.Sumit Shah, the company’s managing director,is determined to prevail over these challenges.The environment is challenging, but we view it as the best time to consolidate our position in the world’s largest consumer country for studded jewellery,” he says. The share of non-US sales, which stood at just 5% last year, are expected to rise above 20% during FY09.However, the management is taking steps to de-risk the business model. “We have entered the bridal jewellery business, the demand for which is relatively inelastic. Similarly, we are also increasing our non-US revenues,” says Mr Shah. The company, which derived around 9% of its sales from bridal jewellery, expects this share to go up to 20% in FY09.The management hopes to maintain over 25% annual profit growth rate for FY09.The warrants issued by the company will be convertible at Rs 187.5 into equity shares between April and June ’09.The company expects to collect Rs 50 crore from full exercise of the warrants. According to Mr Shah, “There will be three main avenues for deployment of these funds, viz, our retail business in India, the US business and the non-US business. We may float another subsidiary in some non-US markets such as Europe, Middle East or South-East Asia, depending on the growth prospects.”Considering the company’s steady growth prospects, investors with a 12-month horizon are advised to remain invested in the scrip.One may buy the scrip too at present levels.

Present update:Already a 5 bagger and still going strong.With the gems and jewelley sector in vogue, this scrip may continue to create more wealth for the already rejoicing shareholders.

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