Senco Gold hits the roof after total revenue climbs 28% YoY in Q1
Diamond jewellery maintained its momentum from the previous quarter, registering approximately 35% volume growth. Gold coin and bullion sales remained a minor portion of the overall business, contributing around 4.5% of total sales, up from 3% last fiscal year.
The company expanded its retail footprint by launching nine new showrooms during the quarter, including four company-operated outlets in Andheri Metro (Maharashtra), Rourkela (Odisha), Sonarpur (West Bengal), and Bilaspur (Madhya Pradesh), along with five franchise-operated stores in Nagpur, Meerut, and three West Bengal locations ? Dhupguri, Singur, and Balichak. Notably, the entry into Nagpur through the franchise route marks a significant milestone in the company?s growth journey. Senco also added a Sennes outlet in Patna, taking the total count of Sennes stores to seven. The Sennes brand has also expanded its footprint to 61 SIS formats (operating within Senco showrooms) and 25 SIS formats at other leading brands, with a target to reach 100 soon.
In Q1, domestic gold prices surged to a range of Rs 86,900?Rs 1,01,000 per 10 grams, with an average year-on-year price increase of about 32% and a sequential rise of 5%. While such high prices usually dampen jewellery consumption volumes due to global factors, consumer sentiment remained resilient in value terms. Old gold exchange continued to play a significant role in supporting demand, contributing around 40% of total sales. Average transaction values and selling prices for gold jewellery rose by nearly 22%, although average weight per product declined by approximately 6.5% due to price impact.
Senco also invested heavily in product innovation and brand building. The company launched over 11,000 new jewellery designs ? about 6,100 in gold and 5,300 in diamonds ? averaging over 125 new designs per day. Campaigns such as ?Khushiyon Ki Reet ? Aapka Shukriya,? ?Bangle Utsav,? and ?The Golden Curve? were launched during the quarter, along with new collections under its sub-brands Everlite, Gossip, and Sennes. The Mother's Day campaign featured the Infinity Collection, while the Nayiraah Collection celebrated milestone moments.
On the outlook front, the company said, ?Having already launched nine showrooms, we are on course to achieve our annual target of 20 showrooms. We have a good pipeline of franchisee stores under both FOFO and FOCO models. In addition, we are also exploring the franchise route for expansion of Sennes, Gossip, and Everlite brands. Sennes, being a new and modern brand, will continue its growth journey.
Q2 usually has no festivals or wedding demand and is driven by Monsoon led demand and usually lower than Q1. With an early onset of monsoon (1st time in last 16 years) and above average rainfall prediction of 106% and stable macroeconomic environment, we are now preparing for Q2 with focus on inventory optimisation, festive collections, and accelerating diamond and lightweight jewellery lines. Price volatility in gold and upcoming festivals like Raksha Bandhan and Onam will shape consumer demand in Q2. We see growing consumer demand for 14K and 18K jewellery, while the industry is working towards 9K jewellery.?
Senco Gold is a leading pan-India jewellery retailer. It offers an extensive range of jewellery, including gold, diamond, Polki, Platinum, Kundan, Jadau, silver, as well as precious and semi-precious stones.
The company's net profit increased by 94.1% to Rs 62.44 crore as revenue from operations rose by 21.1% to Rs 1,377.71 crore in Q4 March 2025 over Q4 March 2024.
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