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Shrenuj
ICICI Bank Sues Shrenuj Executives
The New York branch of India’s ICICI Bank has sued 11executives of diamond manufacturer Shrenuj & Co. and its associatedcompanies, alleging they engaged in fraudulent transactions. The defendants induced ICICI to extend loans to Mumbai-basedShrenuj’s...
Financial-Legal Oct 22, 2018 Rapaport News
Shrenuj Botswana factory
Shrenuj Nears Debt Deal to Ease Liquidity Crisis
Shrenuj & Co. is close to securing at least $100 million in “long-term” fundingfrom an unidentified institutional investor to ease the beleaguered company’s debtcrisis.The diamond and jewelry manufacturer will deploy the timely externalfinancing to relieve pressure on liquidity,...
Manufacturing Nov 29, 2016 Rapaport News
Shrenuj Botswana Diamond Factory
Shrenuj De Beers Sight Suspended
Shrenuj & Co., one of India’s largest diamond cutting firms, said its supply arrangement with De Beers has been suspended, and its Botswanaoperations were scaled back amid continued pressure on its liquidity position.“In...
Manufacturing Nov 23, 2016 Rapaport News
Shrenuj
Shrenuj Defends Position After Asset Seizure
Shrenuj & Co. said an order seizing its inventories and restricting the movement of its senior managers will not significantly affect the business after the Bombay Stock Exchange demanded a clarification from the...
Manufacturing Jul 05, 2016 Rapaport News
Shrenuj Botswana Diamond Factory
Shrenuj Seeks Legal Opinion Over Bank Action
Shrenuj & Co., a Mumbai-based diamond and jewelrymanufacturer, is challenging an order by India’s second-largest bank to seizeits assets and restrict the travel of its promoters.ICICI Bank on May 16 appointed a receiver for Shrenuj FarEast Limited, the company’s...
Manufacturing Jul 03, 2016 Rapaport News
Shrenuj Botswana Diamond Factory
India's Shrenuj Downsizing After Somber Results
Shrenuj & Company is “rationalizing” its workforce afterthe Indian diamond and jewelry manufacturer swung to an annual loss as salesplunged.Revenue on a standalone basis slumped 34 percent to$265.7 million (INR 17.89 billion) in the fiscal year that ended...
Manufacturing Jun 23, 2016 Rapaport News
Shrenuj
Shrenuj Swings to Fiscal 3Q Loss as Sales Slump 34%
India-based diamond manufacturer Shrenuj & Companyreported revenue slumped 34 percent year on year to $182.8 million (INR 12.34billion) in the three months that ended December 31. The company swung to aloss of $55,103 from a profit of $3 million...
Manufacturing Mar 02, 2016 Rapaport News
Shrenuj
Shrenuj Register Revenue and Profit Growth in 2Q
Shrenuj & Company Ltd. reported that revenue rose 6 percent year on year to $218 million (INR 14.2 billion) during that quarter that ended June 30. The company's profit increased 2 percent to $3.2 million...
Manufacturing Aug 14, 2015 Rapaport News
Shrenuj
Shrenuj's Revenue and Profit Slump in 4Q
Shrenuj & Co., a Mumbai-based diamond and jewelry manufacturer, reported that sales slumped 47 percent year on year to $156 million (INR 9.97 billion) during its fiscal fourth quarter that ended March 31. Group...
Polished Markets May 29, 2015 Ronen Shnidman
Diamond Under Microscrope
Diamond Cutters Approaching Era of Disruption
Diamond manufacturers are entering an era of fierce competition as the looming decline in rough diamond supply is expected to place additional pressure on their already razor-thin profit margins. “A manufacturer always operates with a benchmark margin, which is the...
Manufacturing Dec 14, 2014 Ronen Shnidman
Shrenuj Botswana Diamond Factory
Shrenuj & Co.'s Revenue +21%, Profit +14% in 1H
Shrenuj & Company Ltd. reported that revenue jumped 21 percent year on year to $426.2 million (INR 26.2 billion) for the first half of the fiscal year that ended on September 30. Profit improved 14 percent...
Financial-Legal Nov 13, 2014 Jeff Miller
Shrenuj Botswana Diamond Factory
Shrenuj & Co.'s 1Q Revenue +35%, Profit +21%
Shrenuj & Company Ltd. reported that group revenue jumped 34.9 percent year on year to $220 million (INR 13.443 billion) for the first quarter that ended on June 30. Expenses increased 36.4 percent...
Financial-Legal Aug 11, 2014 Jeff Miller
Vishal Doshi 2
High Rough Diamond Prices Cutting Margins to the Limit
Shrenuj & Co. was founded in 1906 as a diamond manufacturer and launched jewelry manufacturing in the 1990's. Today, the company does diamond and jewelry manufacturing and wholesaling, and has a retail presence with kiosks...
Polished Markets Aug 10, 2014 Rapaport News
Shrenuj
Shrenuj & Co.'s Revenue +20%, Profit +22%
Shrenuj & Company Ltd. reported that revenue jumped 20.2 percent year on year to $774.9 million (INR 46.4 billion) in the fiscal year the ended on March 31. The company's profit increased 22.3 percent...
Financial-Legal May 23, 2014 Jeff Miller
Shrenuj Botswana Diamond Factory
Shrenuj & Co.'s 1H Revenue +40%, Profit +33% to $7M
Shrenuj & Company Limited reported that revenue rose 40 percent year on year to $350 million (INR 21.596 billion) for the first fiscal half that ended on September 30. Profit jumped nearly 33 percent to $6.8...
Financial-Legal Nov 01, 2013 Jeff Miller
US Patent and Trademark Office logo
USPTO Assigns 'Diamond Inside' Trademark to Shrenuj
The U.S. Patent & Trademark Office (USPTO) approved the trademark ''Diamond Inside'' to Shrenuj USA on July 16 with the registration number 4369260. Shrenuj originally applied for the trademark on October 4, 2011. The ''Diamond...
Financial-Legal Jul 23, 2013 Jeff Miller
Shrenuj Botswana Diamond Factory
Shrenuj & Co.'s FY Sales +22%, Profit +4%
Shrenuj & Company reported that revenue increased 22 percent year on year to $711.3 million (INR 38.6 billion) for the fiscal year that ended on March 31. Profit rose 4 percent to $13.5 million (INR 734...
Financial-Legal May 24, 2013 Jeff Miller
Shrenuj
Shrenuj & Co. Commissions New Cutting, Polishing Facility
Shrenuj & Company Ltd. commissioned a new diamond cutting and polishing factory in Patna. The new facility is expected to create job opportunities for about 1,500 people when it becomes fully operational. At the present time,...
Manufacturing May 20, 2013 Jeff Miller
Shrenuj
CARE Reaffirms Ratings on Shrenuj's Bank Facilities
CARE Ratings reaffirmed a BBB+ rating on Shrenuj & Co.'s $140 million (Rs. 763 crore) long-term bank facility as well as maintained an A3 rating on the company's $43 million (Rs. 235 crore) short term facility. In determining...
Financial-Legal Apr 10, 2013 Jeff Miller
Shrenuj
Shrenuj's 3Q Sales +60%, Profit +13%
Shrenuj & Co. Ltd. reported that third quarter group sales rose 60 percent year on year to $265.9 million (INR 14.30 billion) for the period that ended on December 31, with a strong performance at its...
Polished Markets Feb 14, 2013 Dilipp S Nag
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