Jewellery stock Senco Gold jumps over 6% after Q1FY27 business update

Senco Gold share price surged over 6% on Monday, 6 July, after the jewellery retailer reported a robust business performance for the first quarter of FY27, driven by strong festive demand and continued retail expansion.

According to the company's exchange filing, Senco Gold expanded its retail network by opening 8 new showrooms during the April-June quarter, bringing its total store count to 208. During the quarter, it launched three company-owned company-operated (COCO) stores, four franchise outlets and one Sennes showroom, while closing one outlet, resulting in a net addition of seven stores. The company said it remains on track to open another 12-15 stores during the remainder of FY27, with future expansion expected to be driven largely through the franchise model.

The company reported around 60% year-on-year growth in standalone revenue during Q1FY27. Retail revenue increased by 48%, while same-store sales growth (SSSG) was 38%, supported by strong consumer demand during Akshaya Tritiya, Poila Baisakh, Baisakhi, Bihu, and the summer wedding season.

Senco said the strong performance came despite elevated gold prices and the increase in customs duty from 6% to 15%. However, it cautioned that aggressive discounting across the industry and the higher import duty are likely to weigh on margins during the quarter.

Diamond jewellery continued to be a key growth driver, with value growth of around 40% and volume growth of 15%, aided by new product launches, an improved product mix and strong demand for jewellery priced below ₹50,000 under its Everlite collection. The company also said Old Gold Exchange contributed around 43% of total sales during the quarter.

Looking ahead, Senco expects demand to moderate seasonally in the second quarter, with purchases likely to be supported by the monsoon season and advance bookings ahead of the festive period. The company said it will continue to focus on inventory optimisation, lightweight and 9K jewellery offerings, and protecting margins.

Senco Gold share price today

Senco Gold share price today opened at ₹338 apiece on the BSE, the stock touched an intraday high of ₹348.10 per share, and an intraday low of ₹329.70 per share.

Rajesh Bhosale, Equity Technical and Derivative Analyst at Angel One, said the stock was trading around 3% higher, although intraday price action remained choppy following the opening. Despite the volatility, he noted that the stock continues to trade above Friday's high, indicating that the near-term technical structure remains positive.

According to Bhosale, the current rebound has emerged from the long-term support of the 200-day Simple Moving Average (200-DSMA) around the ₹320 level, which is expected to remain a strong support zone. On the upside, he identified the ₹360 level, corresponding to the previous swing high, as the next key resistance for the stock.

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