Senco Gold Reports 17.8% YoY Revenue Growth in H1 FY26; Share Price Falls 2.72% Amid Retail Expansion and Festive Push

Mumbai, 9 October 2025: Senco Gold Limited (NSE: SENCO, BSE: 543936) reported a 17.8% year-on-year (YoY) rise in total revenue for the first half of FY26, backed by resilient festive demand and aggressive retail expansion despite record-high gold prices. The Kolkata-based jewellery retailer continued to strengthen its market footprint through new store launches, strategic marketing campaigns, and growth in its diamond and silver jewellery categories.

Headquartered in Kolkata, Senco Gold Limited is one of India’s leading jewellery retailers with a diverse portfolio spanning gold, diamond, silver, and platinum jewellery. Listed on both NSE and BSE, the company operates through a hybrid model of company-owned and franchise showrooms under its Senco Gold & Diamonds and Sennes brands. The brand is widely recognised for its craftsmanship and regional heritage, with a growing international presence.

Senco Gold Q2 FY26 Revenue Up 6.5% YoY Amid Record-High Gold Prices at ₹1,16,500 per 10g

Senco Gold posted a 6.5% YoY increase in Q2 FY26 standalone revenue, driven by sustained consumer spending despite challenging macro conditions and volatile gold prices that averaged ₹1,16,500 per 10 grams, marking a 43% surge YoY.

The company’s retail business grew 16% YoY during the first half of FY26, while same-store sales climbed 7.5%, reflecting continued brand trust and customer retention. Seasonal disruptions such as the Shraddh period and extreme weather conditions in West Bengal marginally impacted footfalls, but festive campaigns and product launches offset the slowdown, ensuring revenue stability.

Five New Stores in Q2 Push Total Retail Network to 184; Sennes Expands to Eight Exclusive Outlets

During Q2 FY26, Senco Gold opened five new showrooms—four in India (Kolkata, Bihar, and West Bengal) and one overseas in Dubai, strengthening its global presence. With this expansion, the company’s total store count has risen to 184, and its Shop-in-Shop (SIS) counters have increased from 19 to 24.

Senco’s lifestyle sub-brand Sennes further extended its reach by launching a new exclusive showroom in Hyderabad, taking its count to eight stores. The brand now boasts over 100 SIS counters across India, targeting millennial consumers through trend-driven and lightweight collections.

Diamond Jewellery Value Up 31% in H1 FY26; Silver Jewellery Soars 54% in Q2

Senco Gold’s diamond jewellery segment maintained robust momentum with a 31% growth in value during H1 FY26 and a 14% increase in volume. The silver jewellery segment witnessed even sharper growth, reporting a 54% rise in value in Q2 FY26, fuelled by affordability and gifting demand during the festive season.

The company’s Trailing Twelve-Month (TTM) sales stood at approximately ₹6,800 crore, reaffirming its strong competitive positioning within India’s organised jewellery retail market.

Festive Campaigns and Product Innovation Drive Consumer Engagement and Footfall Growth

To reinforce brand recall and capture festive demand, Senco Gold rolled out multiple campaigns during the quarter, including Teej, Rakhi, Azadi Utsav, and Varalaxmi. New collections such as Elements of Nature, Aparupa 2.0, and Shakti were unveiled to celebrate Durga Puja and regional festivities.

Under its youth-focused Gossip brand, the company introduced the Tattva Collection, themed around empowerment and self-expression. Consumer-centric initiatives like Flexi Advance Booking, Jewellery Purchase Scheme, and Old Gold Exchange further encouraged conversions and repeat purchases, offsetting price-sensitive hesitancy amid high gold rates.

Senco Plans 20 New Showrooms in FY26; Targets 18–20% Topline Growth Supported by Festive and Wedding Demand

Looking ahead, Senco Gold aims to open 20 new showrooms in FY26, with 7–8 launches expected in Q3 and Q4. The company anticipates 18–20% topline growth for the full year, leveraging strong wedding demand, favourable consumer sentiment, and the recent GST rate cut that has boosted discretionary spending in the jewellery sector.

“We are optimistic about the upcoming festive quarter and have built up inventory with an optimal mix of bridal and lightweight jewellery. Our growth pipeline and marketing strategy are well-positioned to capture festive and wedding season demand,” said Sanjay Banka, Group CFO and Head of Investor Relations.

Senco Gold Shares Fall 2.72% to ₹330.25 After Q2 Results; Market Cap at ₹5,400 Crore

Following the financial announcement, Senco Gold’s share price fell 2.72% to ₹330.25 at 10:12 am IST on 9 October 2025, compared with an opening of ₹339.50. The stock hit a day’s high of ₹339.50 and a low of ₹324.60, valuing the company at a market capitalisation of ₹5,400 crore. The scrip currently trades with a P/E ratio of 24.23, a dividend yield of 0.30%, and remains above its 52-week low of ₹227.40 but significantly below its 52-week high of ₹731.28.

Senco Gold’s consistent revenue growth and expanding retail network underline its strategic focus on brand diversification and customer engagement amid volatile gold prices. Its festive-driven marketing, strong diamond and silver category performance, and international expansion signal operational resilience and sectoral adaptability in India’s competitive jewellery market

REF: https://nsearchives.nseindia.com/corporate/Sencogold_08102025174001_BusinessUpdateQ2H1FY26.pdf

Disclaimer: At HDFC SKY, we take utmost care and due diligence in curating and presenting news and market-related content. However, inadvertent errors or omissions may occasionally occur.

If you have any concerns, questions, or wish to point out any discrepancies in our content, please feel free to write to us at content@hdfcsec.com.

Please note that the information shared is intended solely for informational purposes and does not make any investment recommendations