Senco Gold achieved significant milestones in Q3 FY25, with the company reporting a 22% year-on-year (YoY) revenue growth. The nine-month (9M) revenue growth stood at 19% YoY, driven by robust retail demand, especially in Tier 3 and Tier 4 towns. October 2024 was particularly remarkable, with over ₹1,000 crore in sales in a single month and over ₹2,000 crore for the quarter. On a trailing twelve-month (TTM) basis, Senco Gold surpassed ₹6,000 crore in revenue, marking a full-year growth trajectory of 19-20%.
Key Metrics
- Same Store Sales Growth (SSSG): Steady at 13-14% during the quarter.
- Stud Ratio: Maintained at 10.5%, with investments in marketing and inventory build-up aimed at increasing penetration, particularly in northern markets.
- Old Gold Recycling: Non-organized to organized transition reinforced, with 38% contribution from old gold exchanges.
- ASP and ATV: Grew by 28% and 14%, respectively, during the 9M period.
Expansion and Network Growth
Senco Gold expanded its showroom portfolio to 170, including 69 franchise outlets. The company launched four new showrooms in Q3, entering markets such as Gwalior (Madhya Pradesh), Dehradun (Uttarakhand), Barakar (West Bengal), and Chandaneshwar (Odisha). The Dehradun showroom marked the company’s entry into Uttarakhand. For FY25, Senco aims to open 18-20 showrooms, with 10-12 franchisee outlets.
Strategic Initiatives
- QIP Success: Raised ₹459 crore through a Qualified Institutional Placement (QIP), priced at ₹1,125 per share, significantly above its IPO price.
- New Subsidiary – Sennes: Launched to focus on premium leather accessories, lab-grown diamond jewelry, and perfumes.
- Retail Focus: Continued growth in Tier 3 and Tier 4 towns, outpacing metro and Tier 2 cities in retail consumption.
