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Shrenuj revenues rise 57% to Rs875 crore

14 May '07

3 min read

Shrenuj & Company Limited has announced the following Unaudited results for the quarter ended & year ended 31st March 2007 (31st March 2006):

The Company has for the quarter, recorded a revenue turnover of Rs. 262.62 crore (Rs.169.33 crore). The bottomline also improved significantly as net profit advanced to Rs. 11.64 crore (Rs.7.98 crore), showing a growth of nearly 46 per cent.

The Company has for the year, recorded a revenue turnover of Rs. 875.34 crore (Rs. 556.54 crore). In its overall operations, the diamond business contributed nearly 80% (87%) of the sales revenue with the jewellery business contributing for 20% (17%).

The bottomline also improved significantly as net profit advanced to Rs. 29.58 crore (Rs. 17.61 crore), showing a growth of nearly 68 per cent. This resulted in a significant increase in basic and diluted Earning Per Share from Rs. 3.23 to Rs. 4.72.

The figures for the year ended 31st March 2006 are Audited.

Hon'ble High Court of judicature at Bombay has approved the Scheme of Amalgamation of Moon Diamonds Ltd., Shrenuj Diamonds Pvt. Ltd. and Lavanya Jewels Ltd. with the company. The scheme has been given effect to in the reporting quarter and hence figures stated above for the quarter ended and year ended 31st March 2007 are not strictly comparable with those of corresponding quarter ended and year ended 31st March 2006.

Pursuant to the Amalgamation, the company has allotted 80,99,800 Equity shares of Rs. 2/- each to the shareholders of the transferor companies. The Company is awaiting approval from stock exchanges for listing of said shares.

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