Shares of Senco Gold Ltd. hit 5% upper circuit at Rs 365.77 on Monday, after the Kolkata-based jeweller reported a strong business update for the first quarter of fiscal 2026. The domestic jeweller reported a strong performance driven by festive-led demand and showroom expansion.
The jewellery stock opened at Rs 361.10 apiece on the BSE on July 7, compared to the previous close of Rs 349.90. The stock recorded a 52-week high mark of Rs 772. The company commands a market cap of Rs 5,851.60 crore. It has rallied nearly seven per cent in the last five sessions.
Senco Gold Q1 Update
In its Q1 business update, Senco Gold announced a 24% year-on-year rise in retail revenue, with overall revenue climbing 28% annually. The growth was fueled by strong consumer demand during regional festivals and the company's ongoing focus on expanding its retail presence.
Diamond jewellery volume grew 35% while gold coin accounted for 4.5% of sales. Domestic gold prices averaged Rs 86,900–1,01,000 per 10 grams, up 32% YoY. Senco launched nine new showrooms, bringing the total to 179, and added a Sennes outlet in Patna, expanding the sub-brand to seven stores. The company also entered Nagpur via the franchise route.
As part of its growth plan, Senco Gold opened nine new showrooms in the April-June quarter, bringing its total number of jewellery outlets to 179. Despite some softness in volume—particularly in the mass and bridal segments—value-based demand remained strong, supported by a ~40% contribution from old gold exchange. The company also launched multiple festive campaigns and introduced 11,400 new designs during Q1.
Senco Gold FY26 Outlook
Looking forward, Senco Gold is on track to achieve its goal of opening 20 new showrooms by the end of FY26. To boost the expansion of its lifestyle and fashion jewellery brands—Sennes, Gossip, and Everlite—the company is considering the franchise model. The aims to widen the market presence and attract a broader customer base across urban and semi-urban areas.
According to the jeweller, the retail demand in value terms remained strong supported by the widespread adoption of old gold exchange, which contributed to ~ 40% of the total sales. "Gold coin/ Bullion sales constitute a very small portion of our total sales at 4.5% (FY 25-3%)," it added.
“We continued our showroom expansion and launched nine new showrooms (4 COCO and 5 FOFO/FOCO), and taking the jewellery store portfolio to 179. (on exclusion of 4 Sennes Showrooms). We also launched one Sennes showroom taking the Sennes portfolio to seven (three in Wholly Owned subsidiary and four in SGL),” said Senco Gold.
"Q2 usually has no festivals or wedding demand and is driven by Monsoon led demand and usually lower than Q1. With an early onset of monsoon (1st time in last 16 years) and above average rainfall prediction of 106% and stable macroeconomic environment, we are now preparing for Q2 with focus on inventory optimisation, festive collections, and accelerating diamond and lightweight jewellery lines," said the jeweller.
Gold price volatility and upcoming festivals like Raksha Bandhan and Onam will be key demand drivers. Senco Gold also said in a regulatory filing to tje stock exchanges that the rising consumer interest in 14 karat and 18 karat jewellery, even as the broader industry shifts toward nine karat options.
RECOMMENDED FOR YOU
POPULAR