What was Renaissance Global's revenue in Q3 FY26?

Renaissance Global reported revenue of ₹963 Cr in Q3 FY26, a +16% change year-over-year.

Did Renaissance Global management deliver on previous promises?

Scorecard data is being built as historical quarters are processed.

Renaissance Global Q3 FY26 Research Workspace: Revenue ₹963 Cr (+16%)

Q: What guidance did Renaissance Global management give?

Double-digit EBITDA margin target over 2-3 years: Management aims to achieve double-digit EBITDA margins as D2C proportion increases, currently at ~8%.

Revenue ₹963 Cr +16%

EBITDA ₹63 Cr +19.6%

PAT ₹33 Cr +36.5%

EBITDA Margin 6%

Duration 46 min

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✓ Verified against BSE filing

2-Minute Summary

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Renaissance Global reported Q3 FY26 core revenue (ex-bullion) of ₹824 crore, up 16% YoY, with EBITDA of ₹63 crore (+19.6% YoY) and PAT of ₹33 crore (+36.5% YoY). Growth was driven by a 50% YoY surge in US D2C revenue to ₹89 crore, reflecting strong brand traction and operating leverage. EBITDA margin stood at 7.7%, impacted by one-time costs from setting up a UAE manufacturing facility to mitigate US tariffs. Management reiterated a long-term target of double-digit margins as D2C scales to 20-25% of sales. Key risks include potential demand softness from rising gold prices and elevated working capital days (140 inventory days) due to tariff-related supply chain changes. Guidance for FY27 remains uncertain pending metal price impact.

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Risk Intelligence

Gold price increase impact on B2B demand

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Quarter Snapshot

US D2C Revenue ₹89 Cr

+50% YoY

Direct-to-consumer revenue in the US grew 50% year-over-year to ₹89 crore in Q3.

D2C EBITDA Margin 11%

+300bps YoY

D2C segment EBITDA margin expanded to 11% from 8% last year, driven by operating leverage.

Inventory Days 140 days

-26 days QoQ

Inventory days reduced to 140 from 166 in September, reflecting improved working capital management.

Own Brand D2C Annualized Run Rate ~₹300 Cr

+50% YoY

9-month D2C revenue of ₹220 crore implies an annualized run rate of approximately ₹300 crore.

Fast read

Guidance and risk preview

Top guidance Double-digit EBITDA margin target over 2-3 years

Management aims to achieve double-digit EBITDA margins as D2C proportion increases, currently at ~8%.

Top risk Gold price increase impact on B2B demand

Rising gold prices may dampen consumer demand in the B2B segment, though impact is not yet visible due to lag in price pass-through.