Interviews
News Flash
Shrenuj revenues rise 57% to Rs875 crore
14 May '07
3 min read
During Q4 OF FY '06-07, the company has issued FCCB aggregating to USD 15 Million, the proceeds thereof to the extent of USD 9.2 Million have been utilised for the purpose of strengthening overseas subsidiaries and balance amount USD 5.8 Million is placed on short term Fixed Deposit pending finalisation of investment proposed.
In the last fiscal, the Company has issued 39,44,500 Optionally Fully Convertible share warrants of Rs. 2/- each at a premium of Rs. 49.55 to the promoter group with an option of conversion into equity shares within 18 months from the date of allotment of the share warrants and 10% of the issue price was received upfront.
Commenting on performance, Shreyas Doshi, managing director said “consolidation of the group entities will help us in better utilization of manpower resources to achieve optimal production capacity.
The process of expanding our footprint across the key global hubs for diamonds and jewellery distribution has helped in providing better service to our customers. We will continue to focus on retail and branding. Our aim is to be present across the value chain so that the consumers' requirements are attended to at all stages.”
“Over the last one year, we have undertaken a number of initiatives to keep ourselves ahead of competition. All these initiatives, in terms of technology, training and marketing, have a long term impact on strengthening our goodwill. We shall be very soon announcing some keydevelopments that will have a long term impact on our business”, he added.
In the last fiscal, the Company has issued 39,44,500 Optionally Fully Convertible share warrants of Rs. 2/- each at a premium of Rs. 49.55 to the promoter group with an option of conversion into equity shares within 18 months from the date of allotment of the share warrants and 10% of the issue price was received upfront.
Commenting on performance, Shreyas Doshi, managing director said “consolidation of the group entities will help us in better utilization of manpower resources to achieve optimal production capacity.
The process of expanding our footprint across the key global hubs for diamonds and jewellery distribution has helped in providing better service to our customers. We will continue to focus on retail and branding. Our aim is to be present across the value chain so that the consumers' requirements are attended to at all stages.”
“Over the last one year, we have undertaken a number of initiatives to keep ourselves ahead of competition. All these initiatives, in terms of technology, training and marketing, have a long term impact on strengthening our goodwill. We shall be very soon announcing some keydevelopments that will have a long term impact on our business”, he added.
Shrenuj & Company Limited
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