Senco Gold rallies on strong Q2 retail performance

Senco Gold surged 11.06% to Rs 356.05 after the jewellery retailer reported 29% year-on-year growth in retail revenue in Q2 FY27, supported by festive demand and strong same-store sales growth.

Total revenue, including corporate, e-commerce and exports, increased 31% year-on-year in Q2 FY27. Retail revenue grew 29%, while same-store sales growth (SSSG) stood at 19%.

For H1 FY27, total revenue increased 48% year-on-year, while retail revenue grew 40%. Same-store sales growth stood at 30%. The company said it achieved its highest-ever topline of more than Rs 5,000 crore in H1 FY27 and crossed Rs 10,000 crore in sales on a trailing 12-month basis.

Diamond jewellery revenue grew 31% year-on-year in Q2 FY27, while volume increased 7%. The stud ratio improved to 12.2% from 11% in Q1 FY27, indicating an increase in the contribution of studded jewellery.

Senco Gold opened six new showrooms during Q2, comprising three company-owned company-operated (COCO) stores and three franchisee stores. This took its total showroom network to 215, with 14 stores added during H1 FY27. The company plans to open another 10-12 showrooms in H2 FY27.

E-commerce and digital channel sales increased 53% year-on-year in Q2 FY27. The company said coin and bullion sales remained below 7% of sales during the quarter.

Gold prices remained elevated during Q2, with the period-average gold price around 28% higher year-on-year. Domestic 24K gold prices increased around 1.4% from Rs 1.44 lakh per 10 grams at the beginning of the quarter to Rs 1.46 lakh at the end of the quarter.

The company said the favourable festive calendar, including Ratha Yatra, Rakhi, Janmashtami, Onam, Ganesh Chaturthi and Independence Day, supported demand during the quarter. It also said the shift in the impact of Pitri Paksha to Q3 contributed to the improvement in Q2 sales.

Senco Gold said the old gold exchange programme accelerated during Q2, reaching more than 50% levels. It noted that higher old gold exchange could put some pressure on margins.

For H2 FY27, the company expects demand to be supported by the wedding season and festivals including Dhanteras, Diwali, Durga Puja, Karwa Chauth, Chhath Puja and Christmas. It plans to focus on lightweight and 9K jewellery collections, improving inventory turns, reducing inventory days and faster conversion of non-moving inventory.

The company said the figures and other metrics in the business update are subject to limited quarterly review and annual statutory audit.

Senco Gold is a leading pan-India jewellery retailer. It offers a vast, design-led portfolio of gold and diamond jewellery, developed in-house with local artisans.

On a consolidated basis, Senco Gold's net profit declined 3.35% to Rs 101.14 crore while net sales rose 67.34% to Rs 3056.03 crore in Q1 June 2026 over Q1 June 2025.

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