Image Source: Indian Retailer
Senco Gold Ltd. has kicked off FY26 with a resounding performance, delivering a robust set of results for the June quarter. Fueled by festive demand and aggressive retail expansion, the jewellery retailer has showcased resilience and adaptability amid surging gold prices and evolving consumer trends.
Senco Gold, one of India’s leading jewellery retail chains, registered a consolidated net profit of ₹1.05 billion (₹104.65 crore) in Q1 FY26, marking an impressive YoY growth of 104.12%. Total revenue soared to ₹18.26 billion (₹1,826.28 crore), up 30% from last year’s corresponding quarter. The stellar numbers reflect the brand’s strong execution in capitalizing on regional festivals, store additions, and innovative product lines.
Key Performance Highlights
-
Net Profit: ₹1.05 billion, an 104.12% YoY surge.
-
Revenue: ₹18.26 billion, a 30% YoY increase; up 32.5% QoQ.
-
Retail Revenue: Jumped 24% YoY, underpinned by heightened festive consumption.
-
Same-Store Sales Growth (SSSG): Solid 19% rise amid rising gold prices.
Business Drivers & Market Trends
Festive Fuelled Demand
Sales received a major boost from festivals such as Akshaya Tritiya, Poila Baishakh (Bengal), Baisakhi (Punjab), and Bihu (Assam).
Rising invoicing and SKU volumes by 10% each signaled higher average ticket size and stronger customer engagement.
Retail Expansion
Nine new showrooms added in Q1 FY26, taking the total to 179 stores.
Expansion included a Sennes outlet in Patna and entry into Nagpur through a franchise, targeting diversified formats and new markets.
Senco aims to open 20 new stores in FY26, further strengthening its pan-India presence.
Product Innovation & Consumer Preferences
Diamond jewellery volume registered a 35% surge.
Gold coins comprised 4.5% of sales, supported by strategic marketing efforts and old gold exchange, which contributed nearly 40% of total business.
Launch of sub-brands, such as Litestyle for lightweight jewellery, and the addition of 11,400 new designs to the collection, reflected a pivot towards fashion-forward consumer tastes.
Gold Price Impact
Domestic gold prices ranged from ₹86,900 to ₹1,01,000 per 10 grams (a 32% YoY jump and 5% sequential rise), driven by macroeconomic uncertainty, central bank purchases, and a weakening dollar.
Rising prices led to some softness in mass and bridal segment volumes but overall value-driven demand remained resilient.
Operational Excellence
Retail contributed ~70% of total revenue, showing stable store-level execution.
Despite softer volumes in some segments, old gold exchange programs boosted affordability and sales.
Technology upgrades, logistics streamlining, and in-store campaigns were key in driving operational metrics and customer engagement.
Industry Outlook
With the jewellery sector witnessing heavy competition and price volatility, Senco Gold’s results signal industry-wide resilience. Premiumization trends, lighter designs, and higher ticket sizes are expected to continue, with festive and wedding-driven consumption remaining pivotal. Store network expansion and brand-led initiatives are set to strengthen market share across leading players.
Conclusion
Senco Gold’s record June quarter underscores its market savvy—blending traditional festive demand with retail innovation, new formats, and product launches. Despite global economic flux and soaring gold, the company’s ability to convert challenges into opportunities positions it strongly for the coming quarters. These results mark both an inflection point for sector optimism and a blueprint for sustained growth in India’s evolving jewellery landscape.
Source: Angel One, Economic Times, Moneycontrol, Samco, Torus Digital, Upstox, Senco Gold investor relations, Screener, LinkedIn business update, CNBC-TV18, Retail Jeweller India.
Advertisement
Advertisement
