Senco Gold Ltd Share Price – NSE /  BSE

Diamond, Gems and Jewellery, Small Cap

Senco Gold will hold a meeting of the Board of Directors of the Company on 4 October 2024.

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Senco Gold announced that the Annual General Meeting (AGM) of the company will be held on 13 September 2024.

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On a standalone basis, the company achieved YoY revenue growth of 9% overall, and 11% in retail along with 4% SSG in Q1, FY 25; however, on excluding inter group sales to subsidiaries of about Rs 27 crore, the consolidated revenue growth was 7.5%.

On a consolidated basis, Senco Gold's net profit surged 85.29% to Rs 51.27 crore on 7.54% rise in revenue from operations to Rs 1403.89 crore in Q1 June 2024 over Q1 June 2023.

Consolidated EBITDA improved YoY from Rs 67.20 crore to Rs 108.73 crore, recording 61.82% growth, while EBIT grew by 60.6% from Rs 64.09 crore to Rs 102.96 crore with EBIT margin of 7.3%.

Sanjay Banka (CFO), Senco Gold said that the company has maintained a strong CAGR growth of 21% over the past four years, with the company aiming for a similar growth rate of 18-20% in the current fiscal year. However, the recent reduction in customs duty on gold and silver is expected to impact the company's gross margin and EBITDA in the next two to three quarters. Despite these challenges, Senco Gold is confident in its ability to mitigate the impact and achieve its targeted EBITDA and profit growth.

Suvankar Sen, managing director & CEO, Senco Gold, said that Senco Gold has reported a strong start to the year with a 7.54% increase in overall sales. The company expanded its retail footprint by adding six new showrooms and witnessed robust performance during Akshay Tritiya despite challenges. Average ticket value and selling price also increased significantly. The recent government decision to reduce customs duty on gold, silver, and platinum is expected to boost demand for jewellery. Senco Gold is optimistic about the upcoming festive season and plans to further expand its retail network. The company has also launched lab-grown diamonds under its Sennes brand.

Senco Gold is a jewellery retailer with a strong presence in India, particularly in the eastern region. Senco has over 164 showrooms (including 68 franchisee showroom) spread across India and one international showroom with a mix of own and franchisee model. It offers an extensive range of gold, diamond, and other precious jewellery, Senco caters to diverse customer preferences through its various brands and collections. The company's strong financial performance and positive brand image have been acknowledged through credit rating upgrades and industry recognitions.

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Net profit of Senco Gold rose 85.29% to Rs 51.27 crore in the quarter ended June 2024 as against Rs 27.67 crore during the previous quarter ended June 2023. Sales rose 7.54% to Rs 1403.89 crore in the quarter ended June 2024 as against Rs 1305.40 crore during the previous quarter ended June 2023.

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