More Stories

Informist, Wednesday, Aug. 12, 2026

 

Please click here to read all liners published on this story

--Senco Gold: Plan to open 12-15 more stores in the remaining part of FY27 
--CONTEXT: Comments from Senco Gold mgmt in post earnings analyst call 
--Senco Gold: New stores in FY27 to be opened in east, north India 
--Senco Gold: Most store additions in FY27 to be on franchise model 
--Senco Gold: Sales growth in July around 25% higher on year 
--Senco Gold: Will aim to achieve 20% growth in value for FY27 

 

By Avishek Rakshit and Ruchira Kagita

 

KOLKATA/MUMBAI – While aiming for at least 20% on-year top-line growth in the current financial year, Senco Gold Ltd. is planning to increase its presence in East and North India in the coming quarters, which will likely help increase its sales further and provide the company with better market reach.

 

"We will make sure that we open 12 to 15 more stores for the remaining of the financial year. They are very much in the pipeline...The majority of the stores that we shall open shall be franchises focusing on the east and the northern Indian market," Suvankar Sen, managing director and chief executive officer at Senco Gold, told sector analysts Wednesday in a post-earnings call.

 

During the June quarter, Senco Gold net opened eight new showrooms, of which four are company-owned and the remaining four are under the franchise model. This took the total number of showrooms to 209 as of Jun. 30. 

 

In previous instances, the jeweller had told sector analysts that it was targeting to reach a total store count of 300 by 2030 and a top line of INR 200 billion. In the financial year 2025-26 (Apr-Mar), the company had reported revenue of around INR 84.3 billion.

 

"We remain focused on achieving 20% plus growth in terms of value for this particular financial year, building the brand Senco across the nation. From last year's performance of 8400 crores (INR 84 billion), we can comfortably say that we should be crossing 10,000 crores (INR 100 billion) for sure," Sen said.

 

Despite weaker demand for new jewellery in north India due to Adhik Maas and average gold prices increased 61% on year in the June quarter. The company's total revenue from operations, which includes the cost of goods sold, increased sharply by 67% on year to around INR 30.56 billion. The demand came in primarily from consumer demand during Akshaya Tritiya, Poila Boishakh (Bengali New Year), Baisakhi, Bihu (Assamese New Year) and higher demand due to weddings in summer, Sen said. 

 

Although Senco Gold has showrooms spread across the country, half of its total showrooms are in West Bengal. In Odisha, it has 12 showrooms. The company's presence is largely skewed in east India and the Bengali diaspora across the country are its major customers outside its home state of West Bengal. As a result, festivals pertaining to east India are important for the company and occasions like Adhik Maas, which is largely observed in north India, have minimal impact on the sales. 

 

As gold prices remained extremely high on year, Senco Gold, in tune with its peers and industry trends rolled out a large range of lower caratage and lower weight jewellery which are priced lower than the traditional 22 carat gold jewellery. Gold exchange campaigns supported 43% of the total sales quantity in June, enabling customers to upgrade their jewellery while moderating the impact of elevated gold prices.

 

"We are seeing that in July, the footfalls were there, the consumer sentiments improved. So compared to June, we have seen a stronger traction in July and August but again, I would say from July-August, we are up by 8-10% (on quarter) right now and this will continue to be in this trend," Sen said. On a yearly basis, sales in July were up around 25%, the company said. 

 

While the company may continue to witness macroeconomic challenges such as high gold prices, which dampen consumer sentiment, its target to achieve INR 200 billion in revenue and 300 stores by 2030 remains unchanged, Sen said. Lately, the company has been witnessing renewed consumer demand in preparation of the upcoming festival and wedding season which starts a bit early in east India--the company's largest market, he said.

 

The jewellery seller's consolidated net profit for the June quarter fell 3.4% to INR 1.01 billion. Its retail sales increased 50% on year to INR 26.52 billion and same-store-sales growth was up 39% for the quarter. At 1337 IST, shares of Senco Gold traded almost 13% lower at INR 351.25 on the National Stock Exchange.  End

 

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Edited by Himanshi Gupta 

 

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.