Latest news with #SencoGoldLtd
Fashion Network
a day ago
- Business
- Fashion Network
Senco Gold Q4 net profit jumps 94 percent to Rs 62 crore
Jewellery retailer Senco Gold Ltd reported a 94 percent increase in consolidated net profit to Rs 62 crore ($7.3 million) for the fourth quarter ended March 31, as against Rs 32 crore in the corresponding period a year ago. The company's revenue for the quarter stood at Rs 1,378 crore, as against Rs 1,137 crore in the corresponding quarter of the previous fiscal year. For the full financial year, the company's revenue from operations stood at Rs 6,328 crore while net profit was Rs 159 crore. Commenting on the results, Suvankar Sen, managing director CEO in a statement said, ''We witnessed strong festive and wedding season demand along with improved traction in studded and diamond jewellery. Our focus on digital, franchisee-led expansion, and customer-centric innovation continues to yield results.' 'The strong wedding & valentine (season) has given a boost to Q4 business, witnessing more footfalls and improvement in sales by 21 percent. Diamond jewellery grew by 38 percent,' he added. Senco Gold and Diamonds opened a total of 15 showrooms during the full fiscal year. The brand now counts 175 retail outlets across India.
The Print
3 days ago
- Business
- The Print
Senco Gold consolidated net profit jumps 94pc to Rs 62cr in Q4'FY25
Kolkata, May 30 (PTI) Jewellery retailer Senco Gold Ltd on Friday reported a 94 per cent jump in consolidated net profit to Rs 62.44 crore for the fourth quarter of the 2024-25 fiscal from Rs 32.17 crore in the corresponding period a year ago. The consolidated revenue from operations stood at Rs 1,377.71 crore in the quarter under review, up from Rs 1,137.28 crore a year earlier, it said in a release.
Business Standard
4 days ago
- Business
- Business Standard
Senco Gold gains after Q4 PAT nearly doubles to Rs 94 crore; EBITDA margin at 9.2%
Senco Gold rose 2.11% to Rs 388.85 after the company's net profit increased by 94.1% to Rs 62.44 crore as revenue from operations rose by 21.1% to Rs 1,377.71 crore in Q4 March 2025 over Q4 March 2024. Profit before tax (PBT) stood at Rs 85.08 crore in Q4 FY25, up by 62.4% from Rs 52.38 crore recorded in Q4 FY24. For the fourth quarter, EBITDA came in at Rs 127.01 crore (up by 44.8%) while EBITDA margin was at 9.2% (up 150 basis points YoY). Total operating expenses rose by 19.2% to Rs 1,250.69 crore in Q4 FY25 as compared with Q4 FY24. During the quarter, cost of materials consumed stood at Rs 1,146.46 crore (up 21.6% YoY) while employee benefits expense was at Rs 35.65 crore (up 27.1% YoY). For the full year FY25, revenue from operations rose by 20.7% to Rs 6,328.07 crore, while net profit fell by 12% to Rs 159.31 crore. Suvankar Sen, MD & CEO, said: Senco Gold Ltd. recorded a Standalone total income of Rs 6,313.4 Cr on a growth of 19.7% in FY25 as compared to FY24. The Q425 vs Q424 growth was 20.5%, and SSSG growth accounted for 18%. The company has seen 21% volume growth and 38% in value of diamond jewellery in Q4, which has led to an increase in profit. The adjusted PAT increased by 10.1% to Rs 207.9 Cr. The impact on PAT is due to a one-time customs duty cut in July 2024. In our retail segment, our company-owned showrooms, with a 64% revenue contribution to the overall retail business, have registered a growth of 21% and franchisee business, which contributes to 36% of the retail business, has grown by 28% in Q4 over the last year. Q4 saw a strong studded growth, of over 38% in revenue and of over 2% growth in volume. In Q4, 5 new showrooms were opened (2COCO, 2FOCO and 1FOFO model). In this period, the overall SSSG was 18%. The sharp increase in gold prices during Q4 led to an increase in old gold jewellery exchanges, with old gold contributing nearly 40% to overall sales, out of which 61% is coming from the Non-Senco customers in FY25. Senco Gold is a leading pan-India jewellery retailer. It offers an extensive range of jewellery, including gold, diamond, Polki, Platinum, Kundan, Jadau, silver, as well as precious and semi-precious stones.
Mint
6 days ago
- Business
- Mint
Malabar Gold & Diamonds weighs entry into lab-grown diamond segment
New Delhi: Malabar Gold & Diamonds is exploring an entry into the lab-grown diamond market with a distinct branding strategy, joining a small but growing list of large jewellery retailers eyeing the nascent segment. The company is studying consumer interest in lab-grown diamonds and evaluating how best to position its offering, said M.P. Ahammed, chairman of the Kerala-headquartered group. 'We want to come in with a different proposition with a separate identity and not mix it with natural diamonds, as customers are different. We will formalize something,' he said on the sidelines of a press conference in Delhi. Malabar has not yet set a timeline for its venture. 'Malabar is always open to understanding customer needs. Lab-grown is definitely in the market…We are still doing the research and understanding whether consumers like it. We don't want to do anything with a short-term view,' added O. Asher, managing director. If it moves ahead, Malabar would be among the few national jewellery chains in India to enter this space. Last year, Senco Gold Ltd began piloting lab-grown diamonds under a sub-brand called Sennes. India's overall diamond market is estimated at $6.2 billion in FY25, with lab-grown diamonds accounting for just $0.4 billion, according to Wazir Advisors. Both segments are expected to grow, with natural diamonds projected to reach $8.6 billion and lab-grown $0.6 billion by FY28. While India and China have emerged as major producers of lab-grown diamonds, retail adoption in both markets has been slow, executives said. Lab-grown diamonds are typically priced at a significant discount to natural ones and have found takers among a mix of jewellery startups and traditional family-run jewellers looking to diversify. Malabar, which primarily caters to the wedding segment with gold jewellery as its mainstay, also retails solitaires and engagement rings. The company operates over 390 stores across 13 countries and reported an annual turnover of $6.2 billion calendar year 2024. The company is also responding to the impact of high gold prices, which have weighed on consumer demand. In April, gold touched a high of ₹ 96,875 per 10 grams, prompting a visible correction in volumes, as per industry executives. 'Consumers with a budget of ₹ 1 lakh cannot increase their spending, so we have seen a correction in volumes,' Asher said. 'We are trying to take more market share by coming up with different programmes and categories of products. We are also offering jewellery in various carats.' 'Due to a jump in gold prices, consumers with a budget of Rs1 lakh cannot increase their budget, so we have seen a correction in volumes. What we are able to do—we are trying to take more market share by coming up with different programs and different categories of products. We are also coming in various carats (of gold). So it's a different business plan we are coming up with so consumers can still afford gold jewellery," he said. Malabar plans to introduce more 18-carat and 14-carat designs to offer value-conscious customers more options, mirroring a shift seen across the organised jewellery sector. 'We are trying to explore a little bit in 18 karat,' Asher added. 'We have come up with various innovations to reduce the budget without reducing the look.' The company aims to open at least 50 new stores in India this fiscal as it expands its retail footprint.
Time of India
30-04-2025
- Business
- Time of India
Gold sales shine on Akshay Tritiya
Kolkata: On Akshay Tritiya, gold buying in Kolkata met the expectations of the jewellers despite starting on a muted note. While soaring prices of gold prompted the bulk of customers to opt for token purchases, footfall in the stores matched the enthusiasm jewellers witnessed last year. Tired of too many ads? go ad free now Bowbazar was decked up since morning, and morning showers brought relief to the store owners. In the evening, the usual Akshay Tritiya crowd was present at almost 350 stores lined up on both sides of BB Ganguly Street. The soaring price of gold, which touched the Rs 1 lakh per 10 gm level nine days back, came down to Rs 95,510, adding to the positive buying sentiments. On Wednesday, 24-karat gold was sold at Rs 95,510 per 10 gm, while 22-karat gold was sold for Rs 90,751 per 10 gm. "We were not sure of the footfall this year initially as historic high gold prices created confusion among buyers. However, it started picking up as the day progressed," said Rupak Saha, zonal member of the Gem and Jewellery Trade Council of India. "It seems they did not want to miss the opportunity of availing genuine discounts during Akshay Tritiya. High prices have eventually restored their confidence in gold," said Vinay Bamalwa, director of Nemichand Bamalwa Jewellers, Salt Lake. Customers flocked during auspicious windows like Mahendra Yog (1.42 pm to 3.25 pm and 9 pm to 10.30 pm) and Amrit Yog, which began at 6.45 pm. "We will see a value growth this year, but compared to last year quantity is impacted," said Suvankar Sen, MD & CEO, Senco Gold Ltd. "The demand for gold is always strong as it is a time-tested metal," said Anarghya Uttiya Chowdhury, partner of Anjali Jewellers. "Diamond is becoming equally sought-after and this trend is going to increase ," said Shubadip Roy of Bengal Jewellery.
