Jeweller reports 56 per cent annual growth as festive buying boosts gold and diamond sales despite record-high prices
Senco Gold & Diamonds reported October sales surpassing Rs 1,700 crore, driven by strong festive demand during Diwali and Dhanteras, marking a 56 per cent year-on-year rise.
The company said gold sales by value jumped 60 per cent compared to the previous year, while diamond sales increased 32 per cent. This growth came despite gold prices hitting an all-time high of Rs 1,32,294 per 10 grams on October 31.
Senco also recorded volume expansion across categories, with 4 per cent in gold, 5 per cent in diamonds, and 8 per cent in silver.
“These record numbers reflect a very positive customer sentiment, indicating which way the graph will go in the months to come. We are fully prepared to meet the strong demand in the upcoming wedding season and through Q3 and Q4”, said Suvankar Sen, Managing Director and CEO of Senco Gold & Diamonds.
“ We are rigorously working on ensuring operating leverage, enhanced EBITDA, and improvement in Inventory Management to enhance Return on Capital Employed (ROCE) and Return on Equity (ROE)”, he further added.
For Q1, Q2, and the first month of Q3 FY26, the jeweller posted 25 per cent YoY retail value growth, supported by 19 per cent Same Store Sales Growth (SSSG). The brand also expanded its network by opening new showrooms in Bikaner, Itawa, and Dehradun, taking its presence to 185 stores across India, 2 in Dubai, and 8 Sennes lifestyle accessory outlets.
