Senco Gold Ltd, the leading jewellery retailer, reported 153% growth in consolidated net profit for the March quarter at ₹157 crore compared to the year-ago period, aided by higher gold, silver and platinum prices and sustained consumer demand.
Revenue rose 1.4 times to ₹1,997 crore, while retail sales increased 35% to ₹1,731 crore. The growth was driven by the wedding season, strong gifting demand during Valentine’s Day and continued traction in the old gold exchange programme, which contributed nearly 50% of revenue.
Focus on expansion and lightweight jewellery
For FY27, Senco Gold expects around 20% revenue growth and plans to open 18-20 new showrooms while accelerating the expansion of franchise outlets.
The company also plans to strengthen lightweight jewellery offerings, implement tighter cost and inventory optimisation measures and continue investing in team building.
Leadership comment
Managing Director and CEO Suvankar Sen said the March quarter witnessed extraordinary gold price volatility with international prices touching new highs.
“We maintained around 40-50% hedging to manage price volatility risk and liquidity risk in uncertain markets. Despite this, consumer demand remained resilient in value terms, driven by a well-distributed wedding season spanning the full quarter,” he said.
Shift towards affordable jewellery
According to Sen, there has been a gradual shift towards lightweight jewellery and lower caratage products amid elevated gold prices. The company also recorded 9% growth in diamond volumes and 32% growth in value terms.
During FY26, the retailer expanded into Rajasthan, Central Maharashtra and Western Uttar Pradesh, while continuing to strengthen its core markets in Bengal and East India, which it sees as key growth engines going forward.
The company said demand for lightweight and affordable jewellery remained strong through FY26, supported by its expanding portfolio of 9K and 14K jewellery targeting younger consumers and fashion-led purchases.
Highest-ever revenue in FY26
Sen said the company remains optimistic about FY27, supported by showroom expansion, rising brand visibility and a growing customer base, despite global uncertainties, regulatory developments and elevated gold prices.
Group CFO, Sanjay Banka, said the company achieved its highest-ever revenue of ₹8,430 crore in FY26, registering 33% year-on-year growth and a five-year CAGR of 24%.
He said growth remained broad-based across own and franchise channels, which grew 28% and 34%, respectively. Export, e-commerce and corporate sales contributed around 6% of total sales, while bullion and coin sales remained marginal at 6%.
The board has proposed a final dividend of 20% per share.