Senco Gold anticipates 30% revenue growth and profit doubling by FY26
Senco Gold expects 30% revenue jump, profit doubling in FY26
The Economic TimesImage: The Economic Times
Senco Gold & Diamonds, based in New Delhi, expects its revenue to exceed ₹8,000 crore (approximately $960 million USD) by March 2026, marking a 30% increase from the previous year. The company also anticipates its net profit will nearly double, driven by strong sales despite a decline in volume due to gold price volatility.
- 01Senco Gold's revenue is projected to surpass ₹8,000 crore in FY26.
- 02Net profit is expected to nearly double compared to FY25.
- 03Growth is attributed to a 40% increase in value, despite a 10% drop in volume.
- 04The company plans to open 20 new franchise stores in northern India.
- 05Geopolitical issues have delayed expansion plans in the Gulf region.
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Senco Gold & Diamonds, a prominent jeweller based in New Delhi, anticipates a 30% revenue increase, projecting its earnings to exceed ₹8,000 crore (approximately $960 million USD) by the end of the fiscal year 2025-26. The company's Managing Director and CEO, Suvankar Sen, indicated that net profit is expected to nearly double from ₹165.37 crore in 2024-25. The growth is primarily driven by a 40% rise in value, despite a 10% decline in sales volume, which Sen attributes to the volatility in gold prices that peaked in late 2025. Senco operates 200 stores across India and two in Dubai, with plans to add 20 franchise-owned outlets mainly in northern India. However, geopolitical uncertainties have hindered expansion plans in the Gulf region, particularly in Saudi Arabia and Dubai. Additionally, the company is hedging 50 to 60% of its inventory to manage gold price fluctuations and utilizing metal gold loans from banks to mitigate credit risk. Innovative sales strategies, such as old gold exchange programs, now account for 45 to 50% of sales, while monthly savings schemes have helped stabilize cash flows for customers.
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The anticipated revenue growth and profit doubling will enhance Senco Gold's market presence, potentially leading to job creation and increased economic activity in the jewellery sector.
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