New Delhi: Senco Gold has reported a 22 per cent year-on-year (YoY) growth in total revenue for the third quarter ending December 2024 and a 19 per cent YoY increase for the first nine months of the current fiscal year, as per its recent regulatory filing. Retail growth remained steady at 19 per cent YoY in Q3.
The company achieved record sales, posting Rs 1,000 crore in October 2024 alone and Rs 2,000 crore for the third quarter of FY25. On a trailing twelve months (TTM) basis, Senco Gold’s revenue surpassed Rs 6,000 crore, indicating a strong trajectory towards a 19-20 per cent growth rate for the full year.
Despite a 24 per cent YoY and 8 per cent QoQ increase in gold prices during Q3, Indian consumers continued to purchase gold, driven by a reduction in customs duty. The industry saw significant demand during the Dhanteras period and from mid-December onwards, according to an industry update.
Growth in tier 3 and tier 4 towns outpaced that in metro and tier 2 cities, reflecting broader economic trends and increased retail consumption. Senco Gold stated, “We are continuing to invest in marketing, inventory build-up, and customer engagement programs to enhance the stud ratio, particularly in northern markets.”
The company raised Rs 459 crore through a Qualified Institutional Placement (QIP), issuing shares at Rs 1,125 each—approximately 3.5 times the IPO price. This move attracted substantial interest from both existing and new investors, expanding the equity share capital base to 8.18 crore shares from 7.77 crore.
Senco Gold has also incorporated a wholly-owned subsidiary to drive the Sennes business, focusing on the consumer lifestyle segment. This venture will include premium leather accessories, lab-grown diamond jewelry, and perfumes.
Its showroom portfolio has expanded to 170 locations, including 69 franchise showrooms, with 12 new showrooms launched in the past nine months, of which 7 are company-owned. Looking ahead to Q4 FY25, Senco Gold is on track to open 18-20 new jewelry showrooms, including 10-12 franchise outlets, aligning with its annual expansion targets.
