Senco Gold & Diamonds Shines: Anticipates Double-Digit Growth Amid Market Stability

Senco Gold & Diamonds forecasts a 19-20% sales growth for FY25 due to robust nine-month performance and 22% YoY growth in Q3 FY25. The company's sales exceeded records, with strategic expansion of showrooms and a Rs 459 crore capital raise. Gold prices see a temporary dip.

Senco Gold & Diamonds projects a 19-20% sales growth for the 2024-25 fiscal year, driven by a strong nine-month performance. The jewelry company reported a 22% year-on-year revenue increase in Q3 of FY25, following a Rs 5,230 crore revenue in FY24.

The firm achieved its highest-ever monthly sales of over Rs 1,000 crore in October 2024 and exceeded Rs 2,000 crore in a single quarter. Same-store sales growth remained steady at 13-14%, while a 10.5% stud ratio was maintained.

Senco Gold & Diamonds expanded its showroom count to 170, including 69 franchisee outlets, and planned to add 18-20 new showrooms in Q4 FY25. A Rs 459 crore capital was raised through a qualified institutional placement. However, gold prices have seen a decline of nearly six percent since November.

(With inputs from agencies.)