Senco Gold's revenue rises by 22% YoY in Q3

Senco Gold announced that its revenue grew 22% year on year (YoY) and retail growth was steady at 19% YoY in the quarter ended 31 December 2024.

The growth in Tier 3 and Tier 4 towns outpaced metro and Tier 2 city growth as observed in the economy in general and retail consumption in particular, stated the company.

The company informed that it has accomplished highest ever sales of over Rs 2000 crore in a single quarter in Q3 FY25. On a TTM basis, the revenue has crossed the benchmark of over Rs 6000 crore indicating the firms towards 19%-20% growth on full year basis.

 

The same store sales growth (SSSG) remained steady in 13%-14% range in Q3 also indicating sturdy performance by existing showrooms.

The stud ratio continued to be at 10.5% range. The company stated that it is continuing to invest in marketing, inventory build-up and customer engagement programmes to promote and elevate the stud ratio specially in the northern markets.

The jewellery retailer stated that old gold exchange continued to reinforce non organised to organised transition with 38% contribution from old gold and over 62% from non-sources.

Sennes- a new wholly owned subsidiary has been incorporated which will drive the Sennes business as a value creation strategy. Sennes business will focus on consumer lifestyle segment which presently includes premium leather accessorises, lab grown diamonds jewelleries and perfumes.

Senco Golds showroom portfolio has now expanded to 170 with launch of 12 showrooms (net) in last 9 months which includes 7 own stores. During the quarter, the firm launched 4 more showrooms which includes Gwalior (MP), Dehradun (UK), Barakar (WB) and Chandaneshwar (Odisha).

On Outlook front, the jewellery maker stated that it is committed to open 18-20 jewellery showrooms this year, including 10-12 franchisee outlets and on track to achieve annual target.

Senco Gold is a pan-India jewellery retail player with a history of more than five decades. The company is the largest organized jewellery retail player in the eastern region of India based on number of stores. Among eastern India based jewellery retailers, it has the widest geographical footprint in non-eastern states.

The companys consolidated net profit rose 1.4% to Rs 12.12 crore on 30.9% increase in net sales to Rs 1,500.49 crore in Q2 FY25 over Q2 FY24.

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