Background

Shrenuj & Company Ltd, established in 1982 as Shrenuj & Co Pvt Ltd, set up a 100% EOU unit for jewellery manufacturing in Mumbai, Maharashtra in 1992. The company is primarily engaged in gem & jewellery business – covering operations from diamond and jewellery manufacturing to branded jewellery and retail.

Company Profile

Shrenuj has two main integrated segments namely, diamonds and jewellery. Under the diamond segment, it provides for cutting and polishing of diamonds and under the jewellery segment, it offers diamond studded gold and platinum jewellery. In 1987, it set up India’s first sophisticated factory using laser technology in diamond processing. In 1992, it set up an export oriented jewellery manufacturing unit in SEEPZ, Mumbai. The company operates its own jewellery retailing segment in India under the brand name ‘Diti’ and also owns retailing operations in Hong Kong, operating under the brand name – Joliesse. Shrenuj has also

developed many successful international jewellery brands such as Arisia, Sveni and Bhavya (India & Middle East) Valina and Caro 74 (USA), Fiana (France), Scintilla88 and MasterCut (Australia) and Amante88 (Hong Kong). Shrenuj also owns and operates marketing teams in each of these countries. It employs nearly 3000 people and has state-of-the-art diamond manufacturing facilities in India and Isreal. The company has four manufacturing facilities located at Tardeo, Mahalaxmi, Andheri and Seepz, all in Mumbai, Maharsahtra. During FY08, Shrenuj, through its subsidiary acquired Simon Golub & Sons, a major US jewellery distributor in Seattle and entered into a 50:50 JV in Italy for distribution of diamonds. In FY08, the company acquired 50% stake in DTC’s Arisia brand. In FY08, it also acquired additional 24% stake in Hong Kong-based retail venture Daily Jewellery Ltd, taking the total stake to 75%. The company registered revenue of Rs 9.1 bn for FY09. For the third quarter ended Dec 09, sale of polished diamonds contributed to around 71.44% of the company’s revenue. In the same period, total revenues increased by 35.55% (y-o-y) to Rs 5.56 bn and net profit increased by 435% to Rs 45.2 mn.