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Senco Gold Soars 12% on Strong Q4FY24 Revenue Growth

15 Apr 2024 , 12:35 PM

Senco Gold shares surged 12% to ₹894 on BSE following a robust 39% year-on-year revenue growth in Q4FY24. Management is optimistic about FY25, citing local New Year's and the upcoming marriage season as growth catalysts.

At the time of writing, Senco Gold traded 11% higher at ₹942.25, with trading volumes increasing over five-fold. Despite the uptick in gold prices, the company achieved 13% volume growth in gold and 19% in diamonds in FY24.

Same-store Store Sales Growth (SSSG) in FY24 stood at 19%, contributing significantly to overall retail sales growth. Rising gold prices impacted unorganised jewellers, but listed jewellers like Senco Gold saw impressive growth.

Senco Gold management anticipates structurally intact demand, albeit with potential deferment due to price increases. The company has been gaining market share from unorganised players and plans to continue this trend in the medium term.

Senco Gold offers a diverse range of jewellery, including gold, diamond, silver, platinum, and precious stones. The brand portfolio includes lightweight jewellery under "Everlite," silver and costume jewellery under "Gossip," and premium wedding jewellery under "Vivaha" and "Rajwada." The recently launched "Sennes" brand offers leather bags and accessories.

Senco Gold and Diamonds is owned by Senco Gold Limited, a company with a heritage spanning over eight decades. Originally incorporated as Senco Gold Private Limited on August 22, 1994, in Kolkata, West Bengal, the company was later converted into a public limited company in August 2007 under the name Senco Gold Limited.

For feedback and suggestions, write to us at editorial@iifl.com

Related Tags

  • Revenue Growth
  • Senco Gold
  • Senco Gold News
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