The shares of the leading jewelry retailer gained up to 19 percent after the company achieved 28 percent YoY Revenue growth in the full financial year and 39 percent YoY.
With a market capitalization of Rs 7,319.73 crore, the shares of Senco Gold Ltd were trading at Rs 938.70 per share, increasing around 17.03 percent as compared to the previous closing of Rs 802.10 apiece.
According to the company filing, Senco Gold Ltd achieved 28% YoY revenue growth in the whole fiscal year and 39% YoY in the fourth quarter. Despite rising gold prices, the company achieved a 13% volume increase in gold and a 19% volume growth in diamonds in the full year. The old gold exchange’s percentage of sales climbed from 29% to 32% year on year, with non-senco clients accounting for over 65% of the total, showing a move from non-organized to organized.
Moreover, during the year, Senco opened 23 showrooms on a net basis (17% growth), including four in Q4, bringing the entire showroom portfolio to 159, the largest increase since our establishment. Throughout the year, we opened 5 FOFO and 18 COCO showrooms.
Looking into Senco Gold Ltd’s performance, revenue increased by 22 percent from Rs 1,344 Crore in Q3FY23 to Rs 1,651 Crore in Q3FY24. During the same duration, net profit increased by 7 percent from Rs 104 crore to Rs 111 crore.
The stock has delivered returns of 42.22 percent in the last six months and a multi-bagger return of 131.62 percent in a year. A shareholder’s investment of Rs. 1 Lakh in the company would be worth Rs. 2.31 Lakh in a year.
Senco Gold Limited, with over five decades of expertise, is the largest organized jewelry retail business in India’s eastern area in terms of shop count. As of March 31, 2023, the firm had 136 showrooms in 96 cities and towns throughout 13 states in India, totaling around 409,882 square feet. Senco Gold has both online and offline businesses.
Senco Gold Limited primarily offers gold and diamond jewelry, but they also sell silver, platinum, precious and semi-precious stones, and other metals. The Company’s additional items include costume jewelry, gold and silver coins, and silver cutlery.
Written by:- Abhishek Singh
Disclaimer
The views and investment tips expressed by investment experts/broking houses/rating agencies on tradebrains.in are their own, and not that of the website or its management. Investing in equities poses a risk of financial losses. Investors must therefore exercise due caution while investing or trading in stocks. Dailyraven Technologies or the author are not liable for any losses caused as a result of the decision based on this article. Please consult your investment advisor before investing.
