Shrenuj Group has reported a 62 per cent increase in its net profit at Rs 19.51 crore for the year ended March 2006. Gross income of the group rose by 16 per cent to Rs 648.64 crore in the financial year 2005-06. Earnings per share (EPS) rose from Rs 2.21 to Rs 3.58 (face value of Rs 2). The board recommended an enhanced dividend of 35 per cent for the year ended March 31, 2006, against 30 per cent for the previous year.
The year 2005-2006 saw Shrenuj expanding its operations to the UAE, Germany, the US, Belgium and France. The year also saw the commissioning of a new jewellery manufacturing unit, Kiran Jewellery to cater to the niche French market. It also acquired SN Jewellery in SEEPZ, Mumbai, and work is in progress to set up the largest jewellery manufacturing unit in the group.
The company plans to launch a new global diamond jewellery brand in Europe at the beginning of the Christmas season. The brand is likely to be available across the globe by 2008.