Senco Gold shares climb over 9% on healthy Q1FY25 results, growth outlook

Senco Gold shares rally: Shares of Senco Gold, a gems and jewellery maker, climbed 9.18 per cent to Rs 1,131.45 on the BSE during intra-day deals on Tuesday. This was just 4 per cent shy of its 52-week high of Rs 1,176, which it hit on June 28 on the BSE.

The northward rally in the stock came on the back of the company's strong financial results for the first quarter of the fiscal year 2023-24. During the quarter ended June 30, 2024, Senco Gold's consolidated net profit jumped 82 per cent year-on-year (YoY) to Rs 51 crore, compared to Rs 28 crore reported in the corresponding quarter of the previous fiscal year.

Senco Gold's revenue also increased 7.6 per cent YoY to Rs 1,404 crore in Q1 FY25.

Speaking on the performance, Suvankar Sen, Managing Director & CEO, Senco Gold, said, “We are pleased to announce our Q1 FY25 results. In line with our growth strategy, we expanded our showroom portfolio to 165, adding 6 new showrooms (4 owned out of which 1 in Dubai and 2 franchisees) in Q1. We achieved YoY sales growth of 7.54 per cent including digital, e-commerce, corporate and exports. Retail sales growth YoY was higher at 9.6 per cent and same store sales growth (SSSG) was at 4 per cent. Akshay Tritiya (first 41 days in Q1) sales performance was on expected lines with impressive YoY growth of 21 per cent despite challenges like extreme heat, Lok Sabha elections and fewer wedding days. We also had good performance during bangle Utsav during Poila Boisakh and Akshay Tritiya giving us good margins. ATV grew by 12 per cent to Rs 73,900 and ASP grew by 13 per cent to Rs 49,000 respectively due to above.

Incorporated in 1994, Senco Gold & Diamonds (Senco) is a leading pan-India jewellery retailer with a legacy of more than 85 years and largest in eastern India based on number of showrooms.

As of August 13, 2024, Senco Gold commands a market capitalisation of Rs 8,501.61 crore on the BSE. The company is a constituent of the BSE SmallCap index. Shares of Senco Gold have yielded a return of 55.39 per cent year-to-date, according to BSE analytics.

Senco Gold shares have surged 9.59 per cent in the last one week, 13.22 per cent in the last one month, 30.49 per cent in the last three months, and 46.26 per cent in the last six months.

Shares of Senco Gold have multiplied investors' wealth over the last one year with a rally of 175.58 per cent, as per BSE analytics.

Senco Gold shares have a 52-week range of Rs 1,176.80 to Rs 380 on the BSE.

At around 11:30 AM, shares of Senco Gold were trading at Rs 1,092.45, up 5.42 per cent from their previous close of Rs 1,036.30 on the BSE.