Shares of Senco Gold declined nearly 2% to Rs 320.25 on Thursday’s session after the company reported a muted topline growth but sharp improvement in profitability for the quarter ended September 30, 2025 (Q2FY26).
The jewellery retailer’s revenue rose 2.4% YoY to Rs 1,536.1 crore, compared to Rs 1,500.4 crore in the same quarter last year. However, profitability improved significantly on a lower base, with EBITDA jumping 105.5% YoY to Rs 106.46 crore, and margins nearly doubling to 6.9% from 3.5% a year ago.
Net profit surged over 300% YoY to Rs 48.7 crore, compared to Rs 12.1 crore in Q2FY25. The company attributed last year’s weak base to the impact of a customs duty cut, which had weighed on margins during that period.
Despite challenges such as the Shraddh period, heavy rains, and floods in eastern India, Senco Gold maintained a studded jewellery ratio of 12%, indicating strong resilience in product mix.
Looking ahead, the company reiterated its FY26 guidance of 18–20% revenue growth and plans to open 6–8 new showrooms before the end of the fiscal year. Management said it remains focused on improving return ratios (ROE and ROCE) from current levels.
On the festive front, the company witnessed a robust start to the October quarter, with Diwali and Dhanteras boosting sales. October revenue rose 56% YoY, supported by 4% growth in gold volumes and 8% growth in silver. Including October, Senco’s seven-month same-store sales growth (SSSG) stood at 19%, while overall revenue growth reached 25% for the period.
With a retail footprint of over 195 showrooms, Senco Gold continues its expansion strategy across key markets. At 9:15 AM, the stock traded 1.57% lower at Rs 320.25 on NSE, compared to the previous close of Rs 325.35, valuing the company at around Rs 2,000 crore.
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