Senco Gold reported a significant increase in its financial performance for the January-March quarter, with revenue from operations rising by 45% to Rs 1,997 crore compared to Rs 1,378 crore in the same period last year. The company's EBITDA more than doubled to Rs 274 crore from Rs 127 crore, and the EBITDA margin improved to 13.7% from 9.2%.
The company attributed its record Q4 retail sales of Rs 1,731 crore, a 35% year-on-year increase, to a well-distributed wedding season, Valentine's Day gifting demand, and the old gold exchange program, which contributed approximately 50% to the quarterly revenue. Senco Gold's Managing Director and CEO, Suvankar Sen, highlighted the impact of extraordinary gold price volatility during Q4 FY26, with international prices peaking at USD 5,595/Oz before retracting to USD 4,500/Oz. Despite this, domestic average prices rose by 79% year-on-year and 20% quarter-on-quarter.
Senco Gold expanded its geographical presence during the year, entering new markets in Rajasthan, Central Maharashtra, and Western UP, while focusing on Bengal and East India for future growth. The company also reported its highest-ever annual topline of Rs 8,430 crore for FY26, a 33% increase from Rs 6,328 crore in FY25. Profit after tax surged 261% to Rs 574 crore, and EBITDA jumped 164% to Rs 969 crore, with the EBITDA margin expanding to 11.5% from 5.8%.
“From a macro standpoint, Q4 FY26 saw extraordinary gold price volatility, international prices surged to a peak of USD 5,595/Oz before retracting to USD 4,500/Oz amid global uncertainty, with domestic average prices at ₹1,51,783/10gm, up 79% YoY and 20% QoQ.”
Suvankar Sen, Managing Director and CEO of Senco Gold
Old Gold Exchange contributed 50% to total revenue in Q4 and 44% in FY26, a trend expected to gain momentum in FY27 due to a customs duty increase and a recent appeal by the Prime Minister. Senco Gold plans to launch 18-20 new showrooms, enhance lightweight jewellery performance, and expects around 20% revenue growth while maintaining its EBITDA guidance of 7.5-7.8%.
Senco Gold's robust performance in Q4 and FY26 underscores the resilience of consumer demand for jewellery despite volatile gold prices. The company's strategic expansion and focus on lightweight, affordable jewellery have positioned it well for future growth in the Indian market.
“We plan to launch 18-20 new showrooms, elevate the roll-out of franchise showrooms, enhance the performance of lightweight jewellery, implement strict cost and stock optimization, focusing on team building, and we expect ~20% revenue growth and maintain our EBITDA guidance of 7.5-7.8%, ensuring best efforts towards return on capital, profitability and franchise growth business.”
Suvankar Sen, Managing Director and CEO of Senco Gold
Background
Senco Gold's performance reflects the broader trends in the Indian jewellery market, where demand for lightweight and affordable jewellery is growing. The company's strategic expansion into new geographies and its focus on innovation have helped it navigate the challenges posed by volatile gold prices.
Looking ahead, Senco Gold aims to capitalize on the growing demand for organized jewellery consumption across India. The company plans to continue its expansion efforts, innovate its product offerings, and optimize costs to ensure sustainable growth and profitability.
