# Renaissance Global share price today (Renaissance Global Ltd, NSE: RGL)

> Renaissance Global share price today: ₹142.13 at the NSE close on 4 November 2026, up 7.3% in a year. Renaissance Global (NSE: RGL) is worth ₹1,529 crore, trades at a P/E of 14.0 and has closed between ₹93.49 and ₹167.47 over the past 52 weeks. > Renaissance Global Ltd's earnings have grown faster than its share price. Earnings per share grew +18.2% in a year while the price moved +7.3%. RGL · Lab Grown Diamonds · data as of 4 November 2026. Page: https://www.sectoralpha.in/stocks/renaissance-global-ltd

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## Key numbers

- Business trend: Mixed, from the last 12 quarters
- Price: ₹142.13 (+7.3% in a year)
- P/E: 14.0× (higher than 70% of the last 11 years)
- Revenue (Jun 2026): ₹780 Cr (+47.2% on a year ago)
- Profit (Jun 2026): ₹26.0 Cr (+271.4% on a year ago)
- Operating margin: 5.0% (−2.0 points on a year ago)
- ROCE: 8%, FY26
- ROIC: 8.7%, against a 12.0% cost of capital: −3.3 points

The main question: profits are rising, but only 8% of the last 3 years' profit came in as cash from operations. The gap between reported profit and actual cash is the thing to watch. ## What is the Renaissance Global share price today? Renaissance Global Ltd's share price was ₹142.13 at the close on 4 November 2026. It has been rising for 12 weeks. That is 9.3% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹93 and ₹167, and at that close it sat 66% of the way up from that low. Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 25 weeks in a row. Over the last 11 years the share price moved +464% while the NIFTY 500 moved +243%, so it is ahead of the index over that whole period. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What changed at Renaissance Global this quarter? Three changes stood out: lowest operating margin in 16 quarters, revenue up on a year earlier for 5 quarters in a row and profit up on a year earlier for 4 quarters in a row. 1. Lowest operating margin in 16 quarters Operating margin was 5% in the June 2026 quarter, against 7% a year earlier. Why: Margins fell because the company left some low return customer brand business and paid costs linked to those exits. Next results: check whether the licensed brand business becomes more profitable as the Disney focus grows. From the earnings call on 10 Aug 2026. 2. Revenue up on a year earlier for 5 quarters in a row In the June 2026 quarter revenue was ₹780 crore, +47.2% on a year earlier. Why: Revenue rose because sales excluding bullion, the metal trading part, grew 30% from a year earlier. Next results: check whether revenue slows as stock held by partners is sold down. From the earnings call on 10 Aug 2026. 3. Profit up on a year earlier for 4 quarters in a row In the June 2026 quarter profit was ₹26 crore, +271.4% on a year earlier. Why: Profit rose because last year's number included a one time cost to reorganize the business, and profit before one off items also improved. Next results: check whether profit holds as stock held by partners is sold down and customer brand revenue slows. From the earnings call on 10 Aug 2026. ## What are Renaissance Global's latest quarterly results? For April to June 2026 (the quarter ended 30 June 2026), Renaissance Global reported revenue of ₹780 crore, up 47.2% from ₹530 crore a year earlier, and a profit of ₹26.0 crore, up 271.4% from ₹7.00 crore. ### Renaissance Global results: April to June 2026 against a year earlier

| Measure | April to June 2026 | April to June 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹780 crore | ₹530 crore | +47.2% |
| Profit | ₹26.0 crore | ₹7.00 crore | +271.4% |
| Earnings per share | ₹2.36 | ₹0.59 | +300.0% |
| Operating margin | 5.0% | 7.0% | −2.0 points |

The next results, for July to September 2026, are due by 14 November 2026: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter). Renaissance Global's management discussed these results on a call held on 10 August 2026; what it said is further down this page. (From the company's reported quarterly results (quarter ended 30 June 2026). Revenue and profit in ₹ crore.)

## What is the Renaissance Global share price history? Renaissance Global closed at ₹142.13 on 4 November 2026, up 7.3% from ₹132.49 a year earlier (7 November 2025) and down 26.3% over five years. Its highest weekly close since April 2016 was ₹200.27 on 4 February 2022. ### Renaissance Global share price: then and now

| When | Close | Change to 4 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 30 Oct 2026 | ₹137.20 | +3.6% |
| 1 month ago · 1 Oct 2026 | ₹162.50 | −12.5% |
| 6 months ago · 8 May 2026 | ₹113.87 | +24.8% |
| 1 year ago · 7 Nov 2025 | ₹132.49 | +7.3% |
| 3 years ago · 3 Nov 2023 | ₹114.10 | +24.6% |
| 5 years ago · 4 Nov 2021 | ₹192.87 | −26.3% |
| 10 years ago · 4 Nov 2016 | ₹29.31 | +384.9% |
| Earliest weekly close in our records · 1 Apr 2016 | ₹25.22 | +463.6% |
| Highest weekly close since April 2016 · 4 Feb 2022 | ₹200.27 | −29.0% |
| Lowest weekly close since April 2016 · 27 May 2016 | ₹24.33 | +484.2% |
| 52-week high (weekly close) · 25 Sep 2026 | ₹167.47 | −15.1% |
| 52-week low (weekly close) · 20 Mar 2026 | ₹93.49 | +52.0% |

Weekly closing prices, adjusted for splits and bonuses so every price is on today’s share count. Each change is the move from that price to the 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (560 weekly closes from 1 April 2016 to 4 November 2026.)

## What is the latest news on Renaissance Global? 4 Nov 2026: Renaissance Global closed at ₹142.13, up 3.6% on the week and down 12.5% on the month. Our read, 22 Aug 2026: Renaissance Global is pivoting from low-margin wholesale jewelry exporting to high-margin direct-to-consumer lab-grown diamond retail, driving capital release and return-ratio expansion. ### Earlier

- 10 Aug 2026: Renaissance Global held its results call for April to June 2026. Management guided: FY27 working-capital improvement approximately ₹250 crore and CFO above ₹300 crore; net debt expected meaningfully lower than a year earlier. - Results for April to June 2026: Revenue up 47.2% and profit up 271.4% on a year earlier. ### Our read of the business

April to June 2026: Bottom-line expands 271% on a year earlier as owned brands grow 29% and customer pruning begins. (Our read after the April to June 2026 results, written 22 August 2026.)

## What dividend does Renaissance Global pay? Renaissance Global paid no dividend in the 12 months to 5 November 2026. The last was a dividend of ₹3 a share, ex-date 19 July 2022. ### Renaissance Global dividends since 1 April 2021

| Ex-date | Dividend per share | Type | Record date |
| --- | --- | --- | --- |
| 19 Jul 2022 | ₹3 | Dividend | 20 Jul 2022 |
| 17 Feb 2022 | ₹5.50 | Interim | 18 Feb 2022 |

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. 2 of 5 Of the last 5 financial years, years with an NSE dividend record

Not in its latest year. Renaissance Global Ltd paid out 0% of its profit as dividends in FY26. It did pay a dividend in 5 of its last 13 reported years, so there is a history but no current dividend. (From the NSE corporate-actions record, read 5 November 2026.)

## What did Renaissance Global management say on the latest results call? On the call for April to June 2026, held on 10 August 2026, Renaissance Global's management guided: FY27 working-capital improvement approximately ₹250 crore and CFO above ₹300 crore; net debt expected meaningfully lower than a year earlier. > “Our expectation is that the bottom line should grow by more than 30% for the year.”
> Sumit Shah, Chairman & Global CEO, on the call for April to June 2026

### What management guided

- FY27 bottom-line growth above 30% despite planned customer-brand exits. - Customer-brand revenue reduction ₹300-400 crore annualized, reaching approximately ₹400 crore lower run-rate by year-end. - Licensed-brand revenue to grow and profitability to recover to 14-15% as Disney focus scales. - D2C revenue combines own-brand and licensed D2C: current-year base about ₹500 crore, comprising ₹375 crore own and ₹125 crore licensed, scaling to approximately ₹1,000 crore by FY29. Management’s own plans and goals, from our notes of the call. A plan is not a result. Source: [the call transcript](https://files.tijorifinance.com/insight/india/4802/Conference Call/CC-Aug26.pdf). (From the call for April to June 2026, 10 August 2026.)

## What is the future of Renaissance Global? What is changing in the business? The changes showing up in Renaissance Global's own numbers are a bigger market to serve. It is too early to say whether they last. A bigger market to serve too early to call

US jewelry demand is strong and shoppers are moving to lab-grown diamonds; RGL's lab-grown share in customer brands went from 3% to 30%. Reported sales grew 33%, 36%, 50% and 47% year on year over the four quarters (core sales excluding bullion 40%, 16%, 33% and 30% per management), and operating profit rose in rupees in every quarter. Why it may last: the next two quarters of sales after exits will decide it. What could be flattering it: Sales growth is inflated by zero-margin bullion resale and by metal prices, and lab-grown diamond prices keep falling, so value per piece shrinks; the company may be growing slower than the category (no industry figure is quoted). Next check: Core sales (excluding bullion) for the Sep 2026 quarter still grow at least 15% year on year with operating profit above ₹41 crore. Quarter by quarter, 4 quarters

July to September 2025

Sales ₹546 crore vs ₹412 crore; operating profit ₹41 crore vs ₹34 crore; lab-grown is cannibalising natural diamonds. ✓ fact

From our notes of the call for July to September 2025: Customer brands experiencing lab-grown cannibalization effect: lab-grown share increased from 3% to 30%, while natural diamond business declining due to market shift. October to December 2025

Sales ₹963 crore vs ₹710 crore; operating profit ₹61 crore vs ₹51 crore. ✓ fact

From our notes of the call for October to December 2025: Strong US consumer demand with no weakness signals; lab-grown diamond shift accelerating across portfolio. January to March 2026

Sales ₹773 crore vs ₹514 crore; operating profit ₹58 crore vs ₹38 crore. ✓ fact

From our notes of the call for January to March 2026: US luxury jewelry market positioned as most attractive globally; lab diamond category and consumer D2C preference creating tailwinds for business model. April to June 2026

Sales ₹780 crore vs ₹530 crore (core +30%); operating profit ₹41 crore vs ₹36 crore; management now calls the sector backdrop neutral. ✓ fact

From our notes of the call for April to June 2026: Sector and competitive backdrop: Neutral - tariff refunds and lab-grown diamond economics were the only backdrop issues discussed. We check 16 kinds of change in every company, such as costs spread over more sales, higher-value products, new orders, new regions or falling debt, against its reported numbers and what management said on its calls. Only changes the numbers back are shown. (Checked against results and calls up to April to June 2026, 10 October 2026.)

## What could change the Renaissance Global story? What are the risks? Failure to convert working capital into at least ₹200 crore of operating cash flow in FY27 or deceleration of Jean Dousset store-level revenue below ₹20 crore annually. ### Each change stops working if

- Jean Dousset Luxury Boutique Network Expansion: New store openings fail to replicate the New York flagship sales velocity or average order value declines below $6,000. - Direct-to-Consumer Platform Scale and Digital Leverage: Customer acquisition costs in US digital jewelry channels rise faster than average order value expansion. - Manufacturing Realignment and Fixed Overhead Savings: UAE production costs exceed domestic Indian benchmarks by more than the modeled 1% tariff avoidance buffer. ### The main risks

- Working Capital Absorption and Delayed Cash Conversion: Cumulative 3-year operating cash flow of ₹16 crore lagged reported net profit of ₹238 crore. ⚠ estimate
- US Import Tariff Exposure and Subcontracting Cost Inflation: Tariff mitigation via UAE manufacturing creates operational friction and 1% cost dilution. ⚠ estimate
- Lab-Grown Diamond Price Deflation: Rapid decline in polished lab-grown diamond prices could pressure wholesale inventory values. ⚠ estimate
- Management Guidance Credibility and Disclosure Shifts: Unreconciled guidance increases and communication shifts on debtor days warrant ongoing scrutiny. ⚠ estimate

(Our read after the April to June 2026 results, written 22 August 2026.)

## What to watch in Renaissance Global's next results? When Renaissance Global reports July to September 2026, these are the 4 checks that show whether the story is still on course. First: Core sales (excluding bullion) for the Sep 2026 quarter still grow at least 15% year on year with operating profit above ₹41 crore. | What to check | Why |
| --- | --- |
| Core sales (excluding bullion) for the Sep 2026 quarter still grow at least 15% year on year with operating profit above ₹41 crore. | A bigger market to serve |
| Inventory and receivables release - check sequential working-capital improvement and operating cash conversion in the next print. | From the call |
| Disney-led license recovery - check revenue and margins after portfolio rationalization, especially across the fine-jewelry channel. | From the call |
| Jean Dousset rollout - check new-store openings, early profitability, payback and local e-commerce lift. | From the call |

## Which stock lists is Renaissance Global on? Renaissance Global is on 2 of our India lists: Multibagger study list and Undervalued stocks. - [Multibagger study list Study stage: late](https://www.sectoralpha.in/multibagger-stocks-india)
- [Undervalued stocks Profit growth x: 1.676923076923077](https://www.sectoralpha.in/markets/in/deep-value-stocks)

## Is Renaissance Global profitable? Renaissance Global Ltd earned ₹26.0 Cr of net profit in the Jun 2026 quarter, +271.4% on the same quarter a year earlier. That is the 4th quarter in a row of profit growth. Full-year FY26 profit was ₹90.0 Cr. Over 10 years profit has grown 6.7% a year on average. That is 3.3% of the quarter's revenue. The same quarter a year earlier earned ₹7.0 Cr. For the full year, FY26 profit was ₹90.0 Cr (+21.6% on the year before). Why profit moved: revenue changed +47.2% on a year earlier and the margin moved −2.0 percentage points. Sales did the work while the margin got thinner. On average over the last four quarters, profit changed +105.3% and revenue +41.4%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit. FY26-Q4. revenue ₹773 Cr and profit ₹30 Cr as reported. FY27-Q1. revenue ₹780 Cr and profit ₹26 Cr as reported. Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters. ## How much revenue does Renaissance Global make, and is it growing? Renaissance Global Ltd reported ₹780 Cr of revenue in the Jun 2026 quarter, +47.2% on the same quarter a year earlier. That is the 5th quarter in a row with growth on the year before. Over 10 years it has grown 7.9% a year on average. The last full year, FY26, came in at ₹2,813 Cr. The last four reported quarters add to ₹3,062 Cr. FY26 revenue was ₹2,813 Cr, +35.2% on the year before. Recent pace: the last four quarters grew +41.4% on average, against 7.9% a year over the longer run, so this year is growing faster than its own long-run rate. Is growth speeding up? Revenue over the last 12 months grew +41.4%, against +21.4% a year over the last 8 quarters (accelerating); profit over the last 12 months grew +67.7%, against +21.4% a year (accelerating). FY26-Q4. revenue ₹773 Cr and profit ₹30 Cr as reported. FY27-Q1. revenue ₹780 Cr and profit ₹26 Cr as reported. Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters. ## How much of every ₹100 of sales does Renaissance Global keep? Renaissance Global Ltd's operating margin was 5.0% in the Jun 2026 quarter, 2.0 percentage points lower than the same quarter a year ago. Across 13 years it has been between 3.6% and 8.0%. The latest quarter is within that range. Why the margin moved: operating margin changed −1.6 percentage points on the year while gross margin changed −6.5 points. So the drop came mostly from the gross margin, which means input costs and prices charged. FY26-Q4. revenue ₹773 Cr and profit ₹30 Cr as reported. FY27-Q1. revenue ₹780 Cr and profit ₹26 Cr as reported. Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters. ## Is Renaissance Global's profit turning into cash? Over the last 3 years, 8% of Renaissance Global Ltd's reported profit came in as cash from its operations, a gap worth watching. In FY26 it brought in ₹54.0 Cr of operating cash against ₹90.0 Cr of profit. After ₹37.0 Cr of spending on assets, ₹17.0 Cr was left over as free cash. Why this happened. Management is deliberately shedding low-margin, consignment-heavy customer-brand business where capital cost exceeds generated EBITDA. Liquidating customer-specific consignment inventory and collecting outstanding receivables is guided to release approximately Rs 250 crore in working capital, driving FY27 operating cash flow above Rs 300 crore and cutting net debt toward zero. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why 8% of profit came in as cash: the cash cycle got 25 days longer between FY21 and FY26, so more of each rupee of profit waits in the business before it arrives. When less than 70% of profit comes in as cash, it is the thing to watch on this page. What to look at next: less of the profit turns into cash than it should, and the cash cycle is 25 days longer. The next section looks at where the cash is stuck. ## Where does Renaissance Global's cash go? Renaissance Global Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 249 days in FY26, up from 224 days in FY21. It spent ₹143 Cr on assets over the last 3 years. Customers take 109 days to pay, and stock sits for 164 days on average. Why this happened. Jean Dousset represents the luxury vanguard in lab-grown diamond bridal and fine jewelry. Each store requires approximately Rs 6 crore in capital expenditure including inventory, generating Rs 25-35 crore in annual revenue with store-level margins of 25-33% and EBITDA contribution of Rs 8-10 crore. The New York flagship achieved profitability within three months of opening, confirming rapid payback dynamics under twelve months. At FY26 sales of ₹2,813 Cr, each day of that cycle ties up about ₹7.7 Cr, so roughly ₹1,919 Cr is tied up in the business at any time. FY26: customers took 109 days to pay and stock sat for 164 days, about 5.4 months of sales sitting as stock, for a full cycle of 249 days, longer than FY21's 224. The full loop: cash goes out to suppliers and production on day 0. Stock sits for 164 days. Customers pay about 109 days after that. Suppliers are paid at 24 days. Together that makes the 249-day cycle. Spending on assets: ₹143 Cr over the last 3 years, against ₹93.0 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹1.0 Cr (FY26): assets paid for that are not earning yet. In short: cash is getting stuck in the daily cycle, so watch the cycle more than the profit. ## What is Renaissance Global's P/E ratio, and how does it compare with its own history? Renaissance Global Ltd's P/E is 14.0×, near the high end of its own history: higher than 70% of past readings. Its usual P/E (the middle reading) is 10.3×, over 11 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth. Why the multiple is where it is: over the past year earnings per share moved +18.2% while the price moved +7.3%. Earnings did better than the price, which pulled the multiple down within its own range. Where the price move came from: over 5 years the price moved −5.9% a year; about +2.8% a year came from earnings growth and about −8.7 percentage points from the multiple (the market paying less); over 10 years the price moved +17.1% a year; about +7.5% a year came from earnings growth and about +9.6 percentage points from the multiple (the market paying more). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple. In short: the multiple is high against its own past, so the earnings trend underneath matters more than the multiple. ## Is the Renaissance Global business getting better or worse? Renaissance Global Ltd's business is giving mixed signals. There is no clear direction across the growth lines, with ROCE steady at 10.9%; each line tells part of the story. This is based on 12 quarters of 4 measures. Why it matters: when the lines disagree, each line above matters more than any single label. ## What is the Renaissance Global story, and has it been checked? Renaissance Global Ltd's story is not scored yet against the checks our research set on 22 August 2026. Where it sits in its own cycle: MID EXPANSION. Still open: Failure to convert working capital into at least Rs 200 crore of operating cash flow in FY27 or deceleration of Jean Dousset store-level revenue below Rs 20 crore annually. Our read, 22 August 2026. Renaissance Global is pivoting from low-margin wholesale jewelry exporting to high-margin direct-to-consumer lab-grown diamond retail, driving capital release and return-ratio expansion. What is proven. Renaissance Global is pivoting from low-margin wholesale jewelry exporting to high-margin direct-to-consumer lab-grown diamond retail, driving capital release and return-ratio expansion. What is not proven yet. Failure to convert working capital into at least Rs 200 crore of operating cash flow in FY27 or deceleration of Jean Dousset store-level revenue below Rs 20 crore annually. What would change our mind. Failure to convert working capital into at least Rs 200 crore of operating cash flow in FY27 or deceleration of Jean Dousset store-level revenue below Rs 20 crore annually. The test written in advance. Failure to convert working capital into at least Rs 200 crore of operating cash flow in FY27 or deceleration of Jean Dousset store-level revenue below Rs 20 crore annually. Measured by: the thesis as written as stated by the next result. The test written in advance. Working Capital Absorption and Delayed Cash Conversion. Measured by: Working Capital Absorption and Delayed Cash Conversion Quarterly debtor days rising above 115 days or failure of inventory days to decline below 140 days in H1 FY27. by the next result. The test written in advance. US Import Tariff Exposure and Subcontracting Cost Inflation. Measured by: US Import Tariff Exposure and Subcontracting Cost Inflation Continuation of bullion sales beyond Q3 FY27 or formal denial of filed tariff refund claims by US customs. by the next result. What the company does. Direct-to-consumer branded revenues are scaling toward a Rs 1,000 crore goal by FY29 led by Jean Dousset retail expansion and With Clarity digital momentum delivering 60-70% gross margins. Strategic exit of Rs 300-400 crore low-return customer-brand business is releasing trapped working capital, aiming for over Rs 300 crore operating cash flow in FY27 to achieve zero net debt. What the surface reading misses. The surface reading is: Reported PAT growth of 271.4% YoY indicates explosive bottom-line acceleration. The research reads it further: The base quarter Jun 2025 was severely depressed by Rs -7 crore in negative other income and facility restructuring charges; pre-exceptional PBT growth was 40% (Rs 29.7 Cr vs Rs 21.2 Cr). What the surface reading misses. The surface reading is: Cumulative OCF/PAT of 0.07 indicates severe earnings quality deterioration and cash leakage. The research reads it further: Resolves pre-known dig cash debt: Cash was absorbed by jeweler-model inventory buildup and UAE manufacturing supply-chain transition pass-through bullion sales (Rs 75 Cr/qtr); in FY26 OCF recovered to Rs 54 Cr (0.60x PAT) as inventory days dropped from 250 to 164. Sources: our stock research file (22 August 2026) · quarterly results through Jun 2026 · the company’s own earnings calls. The story check is re-scored every results season; the record below never changes. ## Did Renaissance Global management deliver what it promised? What Renaissance Global Ltd's management promised, against what actually happened: 4 promises on the record. Read straight from the company’s own earnings calls. A promise that slipped stays on this page after it is met. FY27 Profitability Guidance Raised Without Reconciliation · 10 August 2026. In May 2026, management guided to profitability growth of 20% to 30% for FY27. In August 2026, it raised the expectation to more than 30%, above the prior range, without providing a quantified bridge explaining the change beyond citing strong Q1 momentum and planned exits from unprofitable businesses. Tariff Exposure Narrative Changed · 10 August 2026. In February 2026, management said the India tariff increase had no bearing on the company because its country of origin was the UAE. In August 2026, management acknowledged tariff payments, expected refunds, and the need to use tariff mitigation strategies, without clarifying whether the latest exposure relates to a different tariff regime or why the earlier UAE-origin treatment no longer eliminates the impact. Jean Dousset New-Store Sales Range Reduced · 10 August 2026. In May 2026, management cited annual sales of INR30 crores to INR35 crores for existing Jean Dousset stores and said it expected a similar performance trajectory from the additional stores planned for FY27. In August 2026, the stated range for each store being added was lowered to 25 crores to 35 crores, reducing the lower end by approximately 17% without explaining whether this reflects revised unit economics or normal new-store ramp-up. Working Capital Baseline Contradiction · 29 May 2026. In the Feb 2026 call, management explicitly assured shareholders that debtor days were remaining stable at around 90 days. However, in the May 2026 call, management praised a substantial working capital improvement by stating debtor days had reduced to 109 days from a much higher baseline of 124 days. This discrepancy suggests either the previously reported Q3 metric was highly inaccurate, or management fundamentally changed their reporting methodology for Days Sales Outstanding (DSO) without disclosure. Every quote above is taken word for word from the company’s own earnings calls. ## What is Renaissance Global management's track record? The FY24 release acknowledged demand and margin pressure; later cost reductions and prioritising debt repayment show a constructive stress response. Tariff-cost and debtor-day narrative changes weaken precision but do not prove deception or a huge unowned miss. ### Regulatory and governance record

The inventory-theft report raises a control concern but supplies no event date or finding of promoter or key-officer involvement. Rejected promoter reclassification is not itself an unlawful-conduct finding; no qualifying fraud finding, live material management case or proven lie is established. Sources:

- [economictimes.indiatimes.com](https://economictimes.indiatimes.com/renaissance-global-ltd/stocksupdate/companyid-16916.cms)

(Checked 14 October 2026.)

## How much does Renaissance Global earn on its capital? Renaissance Global Ltd earned a ROCE of 8% in FY26. That is up from a low of 6% in FY21. Its return on capital used (ROIC) is 3.3 percentage points below its cost of capital, so growth here does not yet pay for the capital it uses. It comes from a 3.2% net margin and 1.17× asset turnover (sales divided by assets). Why the return is what it is (FY26): a 3.2% net margin × 1.17× asset turnover × 1.60× leverage (assets divided by equity) ≈ 6.0% on equity. The margin does its share; borrowing plays a small part, so this return is earned, not borrowed. The key test, return on capital used minus the cost of capital: 8.7% − 12.0% = −3.3 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. Negative: growth at these returns loses value until returns improve. ## Does Renaissance Global have too much debt? Renaissance Global Ltd has total debt of ₹641 Cr against shareholder equity of ₹1,544 Cr as of Jun 2026, so its debt is 0.42× its equity. Year by year, that ratio went from 0.84 in FY22 to 0.42 in FY26. Keep that borrowing in mind when reading the returns on this page. Why this happened. The direct-to-consumer segment combines owned brands Jean Dousset and With Clarity with exclusive licensed properties including Enchanted Disney Fine Jewelry. Operating at 60-65% gross margins with real-time inventory management, the digital channels absorb technology and marketing overhead as revenue expands from Rs 500 crore in FY26 toward Rs 1,000 crore by FY29, expanding segment EBITDA margin from 12.6% toward 15%. ## What is the Renaissance Global shareholding pattern? Promoters cut their stake in Renaissance Global Ltd by 3.7 percentage points over 8 quarters, the biggest change among its owners. Promoters now own 61.9% of the company. Foreign institutions moved +3.1 points over the same period, to 4.0%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Over the last two years: Promoters: −3.7 points over 8 quarters, to 61.9%; Foreign institutions: +3.1 points over 8 quarters, to 4.0%; Domestic institutions: +0.0 points over 8 quarters, to 0.2%. Why the owners changed: promoters drove it (−3.7 points), with the other side taken by foreign institutions (+3.1 points). They reduced their stake. ## How far is Renaissance Global from balance-sheet trouble? For Renaissance Global Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date. ## How does Renaissance Global rank in its industry? 60.6 out of 100, rank 3 of 3 in Lab Grown Diamonds, with 93% of the evidence available. Renaissance Global Ltd scores 60.6 out of 100 against the 3 companies it is compared with in Lab Grown Diamonds, ranking 3. The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. The four parts add up to the total exactly: 24.7 + 6.3 + 13.2 + 16.4 = 60.6. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is Renaissance Global compared with? Renaissance Global ranks 3 of 3 Lab Grown Diamonds companies on the 4-Factor Sector Score, with 60.6 out of 100. 1. [International Gemological Institute Limited](https://www.sectoralpha.in/stocks/international-gemological-institute-limited) IGIL · turning · Most evidence points up · 90% evidence 79.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 26.0/35 · Revenue 24.1% · Profit 30.3% · Operating margin change 3 points · 100% evidence Capital efficiency 20.0/25 · ROCE 69.2% · Operating margin 61% · 100% evidence Valuation 13.2/20 · P/E 25.8× · PEG 1.07 · 50% evidence Relative strength 19.9/20 · Lead over its industry 4.9% · Lead over NIFTY 500 23.3% · 1 year 17.8% · 100% evidence · 2 of 12 weeks ahead Exact sum: 26 + 20 + 13.2 + 19.9 = 79.1 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 2. [Goldiam International Ltd](https://www.sectoralpha.in/stocks/goldiam-international-ltd) GOLDIAM · quiet · Most evidence points up · 93% evidence 67.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 31.1/35 · Revenue 26.9% · Profit 62.8% · Operating margin change 2 points · 88% evidence Capital efficiency 20.0/25 · ROCE 25.8% · Operating margin 20% · 100% evidence Valuation 13.5/20 · P/E 20.4× · PEG 0.77 · 85% evidence Relative strength 2.8/20 · Lead over its industry -13.6% · Lead over NIFTY 500 0.7% · 1 year 6.7% · 100% evidence · 4 of 12 weeks ahead Exact sum: 31.1 + 20 + 13.5 + 2.8 = 67.4 · What this means: Earnings are strong; relative strength in its sector is -13.6% and the one-year return is 6.7%. 3. Renaissance Global Ltd this page RGL · leader · Evidence leans up · 93% evidence 60.6 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 24.7/35 · Revenue 41.4% · Profit 67.7% · Operating margin change -2 points · 88% evidence Capital efficiency 6.3/25 · ROCE 8.3% · Operating margin 5% · 100% evidence Valuation 13.2/20 · P/E 13.5× · PEG 0.58 · 85% evidence Relative strength 16.4/20 · Lead over its industry 1% · Lead over NIFTY 500 17.8% · 1 year 0.5% · 100% evidence · 12 of 12 weeks ahead Exact sum: 24.7 + 6.3 + 13.2 + 16.4 = 60.6 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Lab Grown Diamonds](https://www.sectoralpha.in/sectors/lab-grown-diamonds), all 3 compared on one page. ## Which companies are close to Renaissance Global in size? Renaissance Global is the 3rd largest of 3 Lab Grown Diamonds companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: International Gemological Institute and Goldiam International. It is the smallest. ### Lab Grown Diamonds companies close in size

1. [International Gemological Institute Limited](https://www.sectoralpha.in/stocks/international-gemological-institute-limited) ₹17,189 crore
2. [Goldiam International Ltd](https://www.sectoralpha.in/stocks/goldiam-international-ltd) ₹4,301 crore
3. Renaissance Global Ltd ₹1,474 crore

[All 3 Lab Grown Diamonds companies, largest first](https://www.sectoralpha.in/sectors/lab-grown-diamonds#all-companies)

### Companies close in size in other industries

1. [Gujarat Natural Resources Ltd](https://www.sectoralpha.in/stocks/gujarat-natural-resources-ltd) ₹1,476 crore · Oil Exploration/Allied Services
2. [Xtranet Technologies Ltd](https://www.sectoralpha.in/stocks/xtranet-technologies-ltd) ₹1,476 crore
3. Renaissance Global Ltd ₹1,474 crore
4. [Hypersoft Technologies Ltd](https://www.sectoralpha.in/stocks/hypersoft-technologies-ltd) ₹1,470 crore · IT - Software
5. [Innovassynth Technologies (India) Ltd](https://www.sectoralpha.in/stocks/innovassynth-technologies-indialtd) ₹1,468 crore · Speciality Chemicals

## What else do people ask about Renaissance Global? ### What is Renaissance Global's share price today? Renaissance Global Ltd's share price is ₹142.13, +7.3% over the past year. The whole company is worth ₹1,529 Cr on the market. In the last 52 weeks it traded between ₹93 to ₹167; today it is 66% of the way up from the low, 9.3% above its 200-day average (as of 4 November 2026). ### What were Renaissance Global's latest quarterly results? Renaissance Global Ltd reported revenue of ₹780 Cr and net profit of ₹26.0 Cr for the Jun 2026 quarter. Revenue rose 47.2% and profit rose 271.4% compared with a year earlier. Earnings per share were ₹2.36. The operating margin was 5.0%, 2.0 percentage points lower than a year earlier (as of 4 November 2026). ### What is Renaissance Global's market cap? Renaissance Global Ltd's market capitalisation is ₹1,529 Cr at a share price of ₹142.13. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 4 November 2026). ### How is Renaissance Global performing? Renaissance Global Ltd's share price has been rising for 12 weeks. In its latest quarter, revenue rose 47.2% and profit rose 271.4% compared with a year earlier. Over the past 13 weeks it has done better than the NIFTY 500, for 25 weeks running (as of 4 November 2026). ### Will Renaissance Global's share price go up? This page does not forecast Renaissance Global Ltd's share price. What it shows instead: the share price is ₹142.13, and it has been rising for 12 weeks. Its P/E of 14.0× is higher than 70% of its own last 11 years (as of 4 November 2026). ### Who owns Renaissance Global? Promoters own 61.9% of Renaissance Global Ltd, foreign institutions 4.0%, domestic institutions 0.2% and the public 34.0% (latest quarter). The biggest change over the last two years: Promoters cut their stake by 3.7 percentage points over 8 quarters (as of 4 November 2026). ### Does Renaissance Global have too much debt? Renaissance Global Ltd has a moderate amount of debt: its debt is 0.43× its equity, and its operating profit is 4 times its interest bill. FY26 borrowings were ₹641 Cr against equity of ₹1,508 Cr. Keep that borrowing in mind when reading the returns on this page (as of 4 November 2026). ### Where is Renaissance Global in its business cycle? Renaissance Global Ltd's FY26 operating margin was 7.0%, against a 13-year range of 3.6% to 8.0%: the middle of its own range, neither a peak nor a low. The latest quarter was 5.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 4 November 2026). ### What could break the Renaissance Global story? The main question: profits are rising, but only 8% of the last 3 years' profit came in as cash from operations. The gap between reported profit and actual cash is the thing to watch. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 4 November 2026). ### Is Renaissance Global a stock worth studying right now? What the numbers show: Renaissance Global Ltd's earnings have grown faster than its share price. Earnings per share grew +18.2% in a year while the price moved +7.3%. The main open question: whether the cash starts to follow the profit. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 4 November 2026). ### Is there a Renaissance Global share price forecast for 2026? What management itself guided: FY27 working-capital improvement approximately ₹250 crore and CFO above ₹300 crore; net debt expected meaningfully lower than a year earlier. The changes showing up in Renaissance Global's own numbers are a bigger market to serve. It is too early to say whether they last. What would change the story: Failure to convert working capital into at least ₹200 crore of operating cash flow in FY27 or deceleration of Jean Dousset store-level revenue below ₹20 crore annually. ### Where does this page get Renaissance Global's management information? From Renaissance Global's results calls, its filings and public records on governance, each dated on the page. Management’s plans are shown as plans, never as results. ## Lists

- Multibagger study list: https://www.sectoralpha.in/multibagger-stocks-india
- Undervalued stocks: https://www.sectoralpha.in/markets/in/deep-value-stocks

This is research, not advice. We’re not SEBI-registered.