GOLDNET.MARKET - “We want and are working to provide business with the opportunity to develop a lot of activity areas”

Today, almost all jewellery companies have their own wholesale websites, online stores, and social media pages. But a year ago, GOLDNET.MARKET, the first jewellery wholesale marketplace appeared in Russia, a new effective tool for the jewellery market...

20 september 2021

Platinum’s rare nature gives it additional value and appeal

Huw Daniel is the CEO of Platinum Guild International, overseeing market development activities in China, Japan, India and the USA, on behalf of the platinum producers of South Africa. Before taking up this role in 2015, Huw ran PGI USA for 12 years...

13 september 2021

Marco Carniello: We want to continue to be the engine boosting the jewellery industry

Italian Exhibition Group (IEG) is a leader in Italy in the organisation of trade fairs and one of the main operators in the trade fair and conference sector at European level, with structures in Rimini and Vicenza, as well as further sites in...

06 september 2021

There is a significant need for smart and technological financial solutions in the diamond industry

MDPS, the Israeli start-up Fintech company from the Mazalit Group is gearing up to enter the diamond industry soon. Zeev Maimon, the CEO of MDPS is also the Founder / CEO of MAZALIT, a B2B payment platform designed and dedicated to the global diamond...

30 august 2021

The future for synthetics lies in that it has become possible to grow a stone you want and make what you want out of it

Alex Popov, President of the Moscow Diamond Exchange and head of the Âme jewelry brand, which uses lab-grown diamonds to produce jewelry, sat for an interview with Rough&Polished sharing his views on the coexistence of natural and man-made diamonds in...

23 august 2021

Shrenuj’s profit slid 10% in Q4 of FY 2014

27 may 2014

Shrenuj & Company Ltd, profit slid to Rs.27 crore in the fourth quarter of FY 14, down by 10 per cent from Rs.30 crore in the same period last year. Sales, however, increased by 25 per cent in the January-March period at Rs.1,206 crore from Rs.894 crore in the corresponding last period, according to a Press Release from the company.
Shreyas K Doshi, Chairman and Managing Director, Shrenuj said, “The year gone by has been a year of consolidation for us. We have been able to present a more focused and integrated product mix to our customers. We have been able to leverage the best of efficiencies from our infrastructure in India and overseas and have been rated higher for our products and services by our customers.”
According to Doshi, the rise in input prices and consolidation in the retail space in the US led to margin pressures in the jewellery segment in the last quarter but improving operational efficiencies and offering a differentiated product mix helped negate the impact. He maintains that demand from the luxury segment, including diamonds and jewellery, remained strong despite economic stagnation.
Shrenuj’s outlook for the current year is promising, especially with a sustained rise in demand from China, the CIS and India and stable demand from the US and the Euro zone. With the economic outlook for the current year being optimistic, the company expects demand from emerging and mature markets to rise in double digits in the coming years.
Shrenuj started a new cutting and polishing unit in northern India for smaller sized diamonds during the year. It also augmented its manufacturing capacities in the existing units by further automating manufacturing processes and installation of new equipment, due to which the company expects to increase production by about 25 per cent in the diamond manufacturing process.
The company also increased its footprint in South-East Asia by adding more retail markets of Forevermark diamonds. During the current year, the company is expected to launch its first jewellery retail outlet in southern Africa.
The board of directors has proposed a dividend of 30 per cent, subject to the approval of shareholders. Based on this performance and a positive outlook for the next year, the board also proposed a bonus issue of shares in the ratio of 1:1.

Aruna Gaitonde, Rough&Polished correspondent in India