Senco Gold, one of the leading jewellery manufacturers and retailers, reported an eightfold jump in standalone net profit for the December quarter at ₹264 crore, driven by an improved product mix, operating leverage, growing demand for lightweight jewellery, and rising gold prices.
Revenue from operations rose 50% to ₹3,071 crore. Notably, non-East revenue crossed ₹1,100 crore, highlighting the company’s expanding national footprint and growing traction in new markets.
Managing Director & CEO Suvankar Sen said the company’s “hyper-local” strategy continued to deliver results, reflected in a robust 21% year-to-date same-store sales growth. Franchise revenue scaled up to 33% of total revenue, indicating strong progress in its partnership-led expansion model.
To counter gold price volatility, Senco strengthened its “House of Design” approach, launching nearly 100 new designs daily during the quarter — more than 6,000 in gold and 3,300 in diamond. The company also leveraged attractive old gold exchange schemes and customer-friendly monthly instalment plans to support buying sentiment.
Old gold contributed 43% of total revenue and accounted for 36% of procurement, enabling customers to upgrade jewellery while offsetting the impact of higher gold prices.
The company is also witnessing steady traction in non-gold categories. The studded and diamond segment remains a key focus area for premiumisation. Senco is expanding through new formats such as ‘Sennes’ and strengthening its lightweight everyday wear collection under ‘Everlite’ to cater to modern, aspirational buyers.
With 196 showrooms, the company is sharpening its presence in Tier-2 and Tier-3 markets. It successfully navigated peak festive demand in the third quarter and is optimising inventory towards lightweight and budget-friendly products amid rising gold prices, targeting both daily wear and wedding jewellery segments.
Senco is preparing for the upcoming Q4 wedding season, Valentine’s Day, International Women’s Day, Akshay Tritiya, Poila Boishak, and other regional festivals, aiming for 18–20% value growth in the studded category.
Group CFO Sanjay Banka noted that higher gold prices increased working capital needs, pushing inventory value up 55% from ₹2,963 crore to ₹4,602 crore. The impact of the new labour code was assessed at ₹6.2 crore.
The company remains on track to open 20 new showrooms in FY26 and expects to reach the milestone of 200 outlets soon, with confidence of delivering over 25% year-on-year topline growth in Q4.