The shares of the leading jewelry company gained around 14 percent to an all-time high price of Rs 840 per share after the company reported strong revenue growth in Q3.
Senco Gold Ltd belongs to the small-cap category of stocks, with a market capitalization of Rs 6,281 crore. At 12:08 a.m., the company shares were trading at Rs 798 per share, up 62.20 or 8.45 percent on the Bombay Stock Exchange.
The company achieved the highest ever Q3 revenue of 24 percent YoY growth and 26% YoY growth in 9 month period, Due to the company’s key offers during dhanteras Offer Festive Offer and Wedding Offers which helped enhance footfall and catalyze the sales in line with market sentiments.
Furthermore, Despite rising Gold prices, the Firm achieved 9% volume growth in Gold and 27% volume growth in Diamond jewelry. The company reported in its exchange filing.
The company added 19 showrooms, totaling 155 showrooms (net) in the last 9 months. Out of 155 showrooms, 65 (42%) are franchisee-owned and operated. Further, 117 out of 155 (75%) of our showrooms are in the East, followed by 22 in the North, 7 in the West, and 5 in the South.
Based on the number of stores, Senco Gold Limited is the largest organized jewelry retail player in the Eastern region of India.
The company is primarily involved in selling gold and diamond jewelry. Also, it sells jewelry made up of silver, platinum precious and semi-precious stones, and other metals.
Senco has over 155 showrooms spread across India with a mix of Own and Franchisee models and various formats like Classic, D’signia, Everlite, Modern, and House of Senco to cater to various customer segments.
The company has a catalog of more than 130,000 designs for gold jewelry and more than 72,000 designs for diamond jewelry.
Written by Omkar Chitnis
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