Senco Gold share price surged over 6% on Monday, 6 July, after the jewellery retailer reported a robust business performance for the first quarter of FY27, driven by strong festive demand and continued retail expansion.
According to the company’s exchange filing, Senco Gold expanded its retail network by opening 8 new showrooms during the April-June quarter, bringing its total store count to 208. During the quarter, it launched three company-owned company-operated (COCO) stores, four franchise outlets and one Sennes showroom, while closing one outlet, resulting in a net addition of seven stores. The company said it remains on track to open another 12-15 stores during the remainder of FY27, with future expansion expected to be driven largely through the franchise model.
The company reported around 60% year-on-year growth in standalone revenue during Q1FY27. Retail revenue increased 48%, while same-store sales growth (SSSG) stood at 38%, supported by strong consumer demand during Akshaya Tritiya, Poila Baisakh, Baisakhi, Bihu, and the summer wedding season.
Senco said the strong performance came despite elevated gold prices and the increase in customs duty from 6% to 15%. However, it cautioned that aggressive discounting across the industry and the higher import duty are likely to weigh on margins during the quarter.
Diamond jewellery continued to be a key growth driver, with value growth of around 40% and volume growth of 15%, aided by new product launches, an improved product mix and strong demand for jewellery priced below ₹50,000 under its Everlite collection. The company also said Old Gold Exchange contributed around 43% of total sales during the quarter.
Looking ahead, Senco expects demand to moderate seasonally in the second quarter, with purchases likely to be supported by the monsoon season and advance bookings ahead of the festive period. The company said it will continue to focus on inventory optimisation, lightweight and 9K jewellery offerings, and protecting margins.
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