Renaissance Global Ltd Q3 FY26: ₹963 Cr Revenue, ₹33 Cr PAT, 7.7% EBITDA — But Is This a Diamond or Just Glitter? 1. At a Glance – The Diamond That Sparkles… Until You Check the Bill Ladies and gentlemen, welcome to the world of Renaissance Global — a company that sells diamonds to Americans, invoices in dollars, manufactures in India and UAE, and somehow still struggles to generate a decent ROE. If globalization had a confused child, this would be it. On paper, it looks like a dream: ₹963 crore quarterly revenue, ₹33 crore profit, global clients like Macy’s and Walmart, and licensing deals with Disney and Marvel (yes, you can literally buy Avengers-themed jewellery — because why not?). But scratch the surface — and suddenly things get interesting. This is a business where: • Revenue grows 35%, but management says “ignore that, it's fake” (bullion sales* 🤡) • Margins are “improving” but stuck at ~7%…