• Financial guidance and performance: Senco Gold posted a 45% revenue growth with profit rising 2.5 times to ₹157 crore, aided by a 50% unhedged exposure during gold price rallies. Management expects 20% to 25% value growth for the financial year and guided for sustainable EBITDA margins of 7.2% to 7.8% and PAT margins of 4% to 4.5%.
• Consumer buying trends: Customers are increasingly shifting toward lighter-weight jewelry (10% to 15% lighter) and affordable 9-karat to 14-karat diamond pieces. Old Gold Exchange transactions have risen to account for roughly 50% of purchases, supported by special company discounts on making charges.
• Regulatory and duty impact: The import duty increase from 6% to 15% and the 100 kg import limit per license have introduced temporary wait-and-watch sentiment and require back-to-back bank ordering to manage supply. Management anticipates the market will normalize within one to two months.
• Store expansion strategy: The company plans to open 18 to 20 stores across various formats, primarily targeting tier 2, 3, and 4 towns and cities. About 60% to 70% of new stores will be launched in its core East India market, with the remaining 30% to 40% opening in North India and other regions.