Senco Gold Limited reported a strong Q1 FY27 performance, with consolidated revenue from operations increasing 67% YoY to Rs 3,056 Cr. Retail sales grew 50% YoY to Rs 2,651.5 Cr, while same-store sales growth reached 39%. The company also added eight net showrooms during the quarter, expanding its network to 209 showrooms as of 30th June 2026.
Quick Summary
- Senco Gold reported 67% YoY consolidated revenue growth to Rs 3,056 Cr in Q1 FY27.
- Retail sales increased 50% YoY to Rs 2,651.5 Cr.
- Same-store sales growth stood at 39%.
- EBITDA increased 16% YoY to Rs 213 Cr.
- PAT stood at Rs 101 Cr, down 3% YoY.
- Diamond jewelry sales grew 43% YoY, with volumes increasing 18%.
- Old-gold exchange contributed 43% of total sales quantity.
- The showroom network expanded from 201 to 209 showrooms.
- Senco remains on track to open another 12–15 showrooms during the remainder of FY27.
Consolidated Financial Snapshot:
Performance Highlights
Standalone and retail momentum: Standalone sales grew by 65% YoY to Rs 3,006.7 Cr, supported by healthy SSSG of 39%, Poila Boishakh, Akshay Tritiya and wedding demand in the early part of Q1. Subsequently, based upon low consume sentiment as well as custom duty rise from 6% to 15% there was a demand contraction, however, based upon the various marketing initiatives old gold schemes and consumer outreach we managed to continue the momentum.
Old jewelry exchange (43% of sales) continued to play critical role in sustaining demand momentum during this period of uncertainty and slow season. Retail sales grew by 50% YoY to Rs 2,651.5 Cr and they were broad based across both channels COCO as well FOCO and FOFO.
Consolidated Profitability: EBITDA grew by 16% YoY to Rs 213 Cr, with EBITDA margin of 7.0%. PAT moved by 3% YoY to Rs 101 Cr, with a PAT margin of 3.3%. SFL is still in the growth phase and incurred losses while Dubai entity (SGJTL) incurred losses due to extraordinary market situation in geopolitical uncertainty and war while SGAPL reported profit. TTM sales reached Rs 9,660 Cr level.
Business Highlights:
- Demand remained resilient: Despite Adhik Maas and average gold prices increasing by ~61% YoY and ~1% QoQ, demand was supported by Akshaya Tritiya, Poila Boishakh, Baisakhi, Bihu and the summer wedding season as well as larger range in lower cartage & lower weight category and fresh design launches. Gold jewelry volumes remained broadly stable despite price rise and custom duty impact.
- Diamond jewelry sales growth: Diamond jewelry sales grew by 43% YoY and 18% in volume terms, supported by wider demand in sub 50k range in Everlite collection.
- Old-gold exchange: The ‘0% deduction’ old-gold exchange campaign supported 43% of total sales quantity, enabling customers to upgrade their jewelry while moderating the impact of elevated gold prices. This partly impacts the gross margin.
Showroom expansion:
During the quarter we opened net 8 showroom- COCO- 4, FRN- 4 and 1 Sennes showroom. As we continue to evaluate store economics regularly, after closure of 1 COCO showroom, the network expanded from 201 showrooms at 31st March 2026 to 209 showrooms at 30th June 2026 as a group. The Company remains on track to open another 12–15 showrooms during the remainder of FY27.
Management Comments:
Commenting on the performance, Mr. Suvankar Sen, Managing Director & CEO, Senco Gold Ltd, said, “We are pleased to begin FY27 with a strong Q1 performance, building on the momentum achieved in FY26. Consolidated revenue from operations increased 67% YoY reflecting the continued trust of our customers in Brand Senco and broad-based demand during Festive season and summer wedding season, even as average gold prices increased by ~61% YoY and remained volatile.
Retail sales increased by 50% YoY to Rs 2,651.5 Cr in Q1 FY27, while SSSG grew aggressively by 39% demonstrating the market reach of existing showrooms and growing footfall as well as conversions along with premiumization.
Customer preference continued towards lightweight, fancy, daily wear, gifting and design-led jewelry. Diamond jewellery value increased by 43% YoY and volumes by 18%, supported by lower-ticket offerings below Rs 50,000, our Everlite range, a wider 9K and 14K assortment, and fresh design launches. Old-gold exchange supported 43% of total sales quantity, in our endeavor to promote increase of gold recycling and support national objective & enabling customers to upgrade their jewelry while moderating the impact of elevated gold prices YoY. Average gold price increased by 61% YoY and 1% QoQ to Rs 15,280 per gram, while the quarter-end gold price increased by 48% YoY but decreased by 3% QoQ to Rs 14,253 per gram.
Net showroom addition during the quarter was 8- COCO-3, FRN-4 and 1 Sennes showroom. The Company remains on track to open another 12–15 showrooms during the remainder of FY27 with an increasing focus on franchise-led expansion, Tier-2 and Tier-3 cities, and strengthening our presence in both East and non-East markets in a balanced manner.
Looking ahead, Q2 is seasonally softer; however, our teams are focused on customer engagement and planning inventory and new design launches for the upcoming festive and wedding seasons. Continuing to build on our strong design sensibility and innovation capabilities, we introduced new designs for women in Everlite, alongside the launch of Aham Ti22, our new Titanium jewelry range crafted specifically for modern Indian men as one of its first in Indian jewelry industry. We will continue to prioritize lightweight collections, affordability, design innovation, store productivity, data analysis, inventory optimization and margin protection for best possible ROCE. We remain focused on achieving 20%+ value growth in FY27 while strengthening Brand Senco across the country and pursuing disciplined, profitable pan-India expansion with a focus on East and North India.”
Exclusive Range of Gold and Natural Diamond Jewellery
As a part of the offer campaign, customers can explore an exclusive range of gold and natural diamond jewellery sourced from across the world. Each piece is meticulously crafted and certified by internationally recognized laboratories. The festive collection features exquisitely crafted necklaces, statement earrings, elegant bridal sets, and bespoke creations designed to suit every style and occasion.
Elaborating on the Consolidated Financial Performance, Mr. Sanjay Banka (Group CFO & Head IR) commented,
“We are pleased to report 67% YoY growth in consolidated revenue, which is the highest Q1 performance in last few years. EBITDA increased by 16% YoY to Rs 213 Cr; and stabilized to 7.0% in our guided range of 7.5%-7.8% on a QoQ basis. The margin movement reflects discounting, gold price fall partly offset by custom duty increase, and better product mix. We continued to work on optimizing the inventory efficiency which led to reduction in the quarter inventory by Rs 300 Cr and resultant improvement in the inventory days. We have also considered full impact of Labour code in Q1 after detailed evaluation.
EBIT increased by 13% YoY to Rs 207 Cr, with EBIT margin moving to 6.8%. Incidentally due to gold price volatility and GML unavailability, our blended borrowing cost increased marginally. Overall, PAT for Q1 was Rs 101 Cr at a margin of 3.3%. Business losses at SFL and SGJTL also affected consolidated profitability, while SGAPL continued to report profit.
Looking ahead, we remain committed to FY27 value growth of 20%+ and EBITDA margin of 7.5%–7.8%, while working towards a sustainable PAT margin of 4.0%–4.5% with a sharp focus on Return on Capital Employed (RoCE). Our focus will continue to be on margin stabilization, improving inventory days, balancing finance cost through right mix of GML and optimizing subsidiary performance.”
About Senco Gold & Diamonds
Senco Gold & Diamonds is a leading pan-India jewellery retailer with an 87+ year legacy. As of June 2026, our network includes 209 showrooms across India and Dubai, operated through company-owned and franchisee models, including the Sennes lifestyle jewellery format. The Company offers a vast, design-led portfolio of 300k+ designs of gold and diamond jewellery, developed in-house with local artisans. Senco is a multi-award-winning brand, recognized for customer trust, luxury status and as a great place to work.
FAQs
What was Senco Gold’s consolidated revenue in Q1 FY27?
Senco Gold’s consolidated revenue increased 67% YoY to Rs 3,056 Cr in Q1 FY27.
How much did Senco Gold’s retail sales grow in Q1 FY27?
Retail sales grew 50% YoY to Rs 2,651.5 Cr, while SSSG stood at 39% YoY.
What was Senco Gold’s EBITDA in Q1 FY27?
EBITDA grew 16% YoY to Rs 213 Cr, with an EBITDA margin of 7.0%.
How did diamond jewellery sales perform?
Diamond jewelry sales grew 43% YoY and 18% in volume terms, supported by wider demand in the sub 50k range in the Everlite collection.
How many Senco Gold showrooms were there as of June 2026?
The Senco Gold network expanded to 209 showrooms as of 30th June 2026.
What are Senco Gold’s FY27 growth targets?
The Company remains focused on achieving 20%+ value growth in FY27 and an EBITDA margin of 7.5%–7.8%, while working towards a sustainable PAT margin of 4.0%–4.5%.
Source: SVAR Media Network
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