Senco Gold & Diamonds Eyes Rs 6,000 Crore Sales in FY'25

Kolkata, Jan 9 (PTI) Senco Gold & Diamonds on Thursday said it was expecting a 19-20 per cent sales growth for the 2024-25 fiscal on the back of strong nine months performance, the company said on Thursday.

The company had a 22 per cent year-on-year (YoY) revenue growth in the third quarter (Q3) of FY25. The company in FY'24 posted a revenue of Rs 5,230 crore.

It achieved the highest-ever sales of over Rs 1,000 crore in a single month (October 2024) and Rs 2,000 crore plus in a single quarter (Q3F'25).

Senco Gold & Diamonds' same-store sales growth (SSSG) remained steady in the 13-14 per cent range, while the stud ratio was maintained at 10.5 per cent, the company mentioned in its business update.

The old gold exchange contributed 38 per cent to sales, with 62 per cent from non-company sources.Senco Gold & Diamonds expanded its showroom portfolio to 170, including 69 franchisee showrooms, and launched four new showrooms in Q3.

It also raised Rs 459 crore through a qualified institutional placement (QIP) at Rs 1,125 per share.

The company aims to open 18-20 new jewellery showrooms, including 10-12 franchisee outlets, in the fourth quarter of FY25, officials said.

The firm's showroom portfolio has now expanded to 170 (including 69 franchisee showrooms) with the launch of 12 showrooms (net) in the last nine months, which includes seven own stores, they said.

The company said after months of gains and record highs, gold's upward trajectory has slowed since early November, and prices have dropped by almost six per cent from its peak in December.