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Senco Gold Limited achieved 11% retail sales growth and 4% same-store sales growth in Q1 FY25, with six new showrooms added. The total sales growth, including exports, e-commerce, corporate, and digital products was 9% YoY.
Jewellery retail major Senco Gold Limited announced its Q1 FY25 financial results on July 8, reporting significant growth in retail sales and same-store sales. The company's retail sales grew by 11%, and same-store sales growth was recorded at 4%.
Despite challenging conditions, including high heat waves, Lok Sabha elections, and a low number of wedding days, the company's performance during the auspicious period of Akshay Tritiya met expectations, achieving a 21% year-on-year growth.
Senco Gold's average transaction value (ATV) and average selling price (ASP) increased by approximately 12%. Including exports, e-commerce, corporate, and digital products, the total sales growth was 9% year-on-year (YoY) in Q1.
The company expanded its showroom portfolio by adding six new showrooms, bringing the total number to 165, which includes four owned and two franchise showrooms.
Explore: Senco Gold Limited Share Price
Looking ahead, Senco Gold is gearing up for the wedding season in Q2 and the second half of the year, which includes festivals such as Rath Yatra, Independence Day, Teej, Durga Puja, Navratri, Dhanteras/Diwali, and the wedding season.
The company has a strong pipeline of new showrooms in both owned and franchise channels, supporting its planned growth.
Over the past five years, Senco Gold has maintained a healthy compounded annual growth rate (CAGR) of 21% and aims to achieve 18-20% growth this year.
Gold prices saw a substantial rise globally, increasing by 17% from April 2023 to March 2024, and a further 9.5% in Q1, reaching $2340 per ounce by June 24. The peak price level was recorded in mid-May 2024 at around $2450 per ounce.
On a year-on-year basis, average gold prices rose by almost 20% in Q1 and by 13% quarter-on-quarter compared to Q4.
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