Senco Gold Q1 update: Revenue jumps 60% on festive demand; SSSG at 38%, 8 new showrooms opened

Senco Gold, one of the leading pan-India jewelry retailers, announced its business update for the June ending quarter today, reporting another quarter of robust growth across its business. It reported a 60% year-on-year rise in revenue, while it improved 53% sequentially.

The retail revenue grew 48% YoY and 51% QoQ. The company also recorded a robust same-store sales growth (SSSG) of 38%, supported by a favourable festive calendar that included Akshaya Tritiya, Poila Baisakh, Baishakhi, Bihu, and the onset of the summer wedding season.

According to the company, the business remained resilient despite the Adhik Maas period and the increase in customs duty on gold from 6% to 15%. The company said gold prices remained elevated year-on-year, while easing sequentially due to geopolitical developments.

It expects to benefit from the recent 9% customs duty increase on gold over Q1 and Q2. However, the company noted that the full benefit will be partially offset by its current 50% hedging level and heavy discounting during the quarter, which is expected to put pressure on Q1 margins.

Senco Gold's diamond jewellery business also posted strong growth, with value sales rising 40% year-on-year and diamond volumes increasing 15%, driven by volume expansion, an improved product mix, the introduction of lower-priced products below ₹50,000 in the Everlite segment, and new product launches.

During the quarter, Senco Gold also opened eight new showrooms—comprising three company-owned (COCO), four franchisee outlets, and one Sennes store—taking its total network to 208 showrooms after the closure of one store.

The company remains on track to open 12–15 more showrooms over the next three quarters, with a continued focus on expanding its franchise network.

Looking ahead, the company expects the September quarter to remain soft but expects to pick up in the following quarter driven by the monsoon and festivals like gold booking. "Our focus will remain on inventory optimisation, lightweight and 9K collections, and margin protection," the company said.

Stock recovers from prolonged slump

The company's shares staged a strong rebound in April, rising 12.3%, with the momentum continuing in the following month as the stock gained another 11%.

The recovery came after the stock remained under prolonged selling pressure between September 2025 and March 2026, during which it had declined 24.6%. However, the recent rally has helped the stock recover all of those losses.

Despite the rebound, the stock is still down 58% from its record high of ₹772 apiece. It ended 2025 with a steep decline of 41%, while in the current calendar year, the stock is marginally higher by 2.55%.

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