Shares of Senco Gold surged 9%, reaching a 7-week high of ₹1,129, following the release of strong financial results for the quarter ending in June.
Credit : PIXABAY
Consolidated revenue from operations increased by 7.5% to ₹1,403.89 crore. Retail sales grew by 9.6% year-over-year (YoY), and same-store sales growth (SSSG) was 4%.
Credit : PIXABAY
Despite challenges like extreme heat, Lok Sabha elections, and fewer wedding days, sales during Akshay Tritiya grew 21% YoY, aligning with the company's expectations.
Credit : PIXABAY
Successful promotions such as the Bangle Utsav during Poila Baisakh and Akshay Tritiya helped improve margins. The average transaction value (ATV) increased by 12% to ₹73,900, and the average selling price (ASP) rose by 13% to ₹49,000.
Credit : PIXABAY
Consolidated EBITDA rose by 61.82% YoY to ₹108.73 crore. EBIT increased by 60.6% to ₹102.96 crore, with an EBIT margin of 7.3%. Profit after tax (PAT) surged by 85.3% to ₹51.27 crore.
Credit : PIXABAY
Senco Gold expanded its showroom network to 165 locations, adding six new showrooms, including one in Dubai, and two franchisees. The company has a strong pipeline for new showrooms under COCO and FOFO models.
Credit : PIXABAY
In Q1, Senco Gold increased sales from recycled gold from 32% to 35%, benefiting around 43,000 customers.
Credit : PIXABAY
The company is preparing for the upcoming festive season in Q2 and H2, including major events like Rakshabandhan, Durga Puja, and Diwali.
Credit : PIXABAY
The Indian government reduced customs duties on gold and silver from 15% to 6%, and on platinum to 6.4%, which is expected to boost domestic value addition and demand.
Credit : PIXABAY
CFO Sanjay Banka stated that the company maintained a buy-sell ratio of 1.3x in Q1 and is committed to managing gold price volatility, reflecting stable margins over a 2-3 quarter cycle.