More Stories

Informist, Monday, Aug. 10, 2026

 

By Somen Bose

 

MUMBAI - Jewellery retailer Senco Gold Ltd. is expected to report a fall in its consolidated net profit for the June quarter due to higher discounts and new store additions, according to the brokerages tracking the company. The company's revenue is, however, expected to rise driven by the auspicious Akshaya Tritiya festival, regional festivals, and the onset of the summer wedding season despite sales being temporarily hit by the increase in customs duty and the Adhik Maas (intercalary month) period.

 

The Kolkata-based company's consolidated net profit for the June quarter is expected to be between INR 349 million and INR 1.44 billion, according to estimates from three brokerages. The highest estimate is from Motilal Oswal Financial Services Ltd. and the lowest is from Emkay Global Financial Services Ltd. The third estimate for the company's net profit is INR 1.13 billion from Anand Rathi Share and Stock Brokers Ltd. The company had reported a net profit of INR 1.47 billion in the year-ago quarter.

 

The company is expected to report consolidated net sales of between INR 28.86 billion and INR 29.22 billion for the June quarter, according to the estimates. The highest estimate is from Emkay Global and the lowest is from Motilal Oswal. The third estimate for the company's net sales is INR 29.04 from Anand Rathi. The company had reported net sales of INR 18.26 billion in the year-ago quarter.

 

In the jewellery segment, demand was resilient during the June quarter despite volatile gold prices, brokerages said. Inventory gains are expected during the quarter due to an increase in the customs duty on gold imports to 15% from 6%. The margin is likely to remain under pressure, as inventory gains from the customs duty hike are largely offset by higher discounting, along with an adverse product mix amid higher gold prices and a higher share of low margin coin sales.

 

Senco Gold's revenue growth for the June quarter is likely to be led by same-store sales growth, along with store additions, brokerages said. According to Motilal Oswal, the company is expected to add seven new stores, taking the store count to 208.

 

The company is expected to report earnings before interest, tax, depreciation, and amortisation of between INR 11.6 billion and INR 25.1 billion for the June quarter, according to two estimates. The higher EBITDA estimate is from Motilal Oswal and the lower is from Emkay Global. The company's EBITDA margin is expected to contract 140 basis points on year to 8.7%, according to Motilal Oswal.

 

The company sells gold, diamond, silver, platinum, and gemstone jewellery under its flagship brand Senco Gold & Diamonds. The company will detail its June quarter earnings Tuesday. Monday, shares of the company ended at INR 398.85 apiece on the National Stock Exchange, 3% up from Friday. The share price is up 15% since the company announced its March quarter earnings on May 27.  

 

Of the two brokerages report on the company available with Informist, one has a "buy" recommendation on the stock with a target price of INR 575 per share. This is up 44% from the current market price. One brokerage has a "hold" recommendation with a target price of INR 375.

 

Following are the Apr-Jun earnings estimates for Senco Gold from three brokerages, in descending order of the estimates of net profit, in INR million:

 

Brokerage	Net Sales	Net Profit	EBITDA
Motilal Oswal Financial Services Ltd.	28,855	1,437	2,510
Anand Rathi Share and Stock Brokers Ltd.	29,038	1,133	--
Emkay Global Financial Services Ltd.	29,220	389	1,158
Average	29,038	986	1,834

 

End

 

Edited by Pankaj Aher

 

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

 

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd. by NSE Data & Analytics Ltd., a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt. Ltd.

 

Informist Media Tel +91 (22) 6985-4000 

Send comments to feedback@informistmedia.com

 

© Informist Media Pvt. Ltd. 2026. All rights reserved.