Senco Gold shares jump 19.5% to all-time high on strong Q4 business update

livemint.com:

Senco Gold, one of the leading pan-India jewelry retailers in India, surged by 19.52% to reach a new all-time high of ₹958 per share during today's trading session. This significant uptick in investor interest follows the release of the company's business update for Q4FY24.

In the fourth quarter of last fiscal year, the company reported a 39% year-on-year increase in revenue, while for the entire fiscal year, the revenue saw a robust 28% year-on-year growth. Despite the upward trend in gold prices, the company achieved notable volume growth, with a 13% increase in gold and a 19% increase in diamond volumes compared to the previous fiscal year.

Also Read: Gold price in an unshakeable bull market, says Goldman Sachs; raises target Furthermore, the proportion of old gold exchange as a percentage of sales rose from 29% to 32% year-on-year. Notably, 65% of the old gold exchanged came from non-Senco customers, indicating a notable shift from unorganised to organised players in the market, according to the company.

During the fiscal year 2023-2024, the Same Store Sales Growth (SSSG) reached 19% out of the total retail sales growth, and it was 23% out of a total 30% retail sales growth during Q4. The company reported a consistent improvement in the stud ratio, with the blended stud ratio (including both own and franchisee showrooms) increasing to 11.4% from the previous year's 10.4%.

Additionally, its own showrooms achieved a stud ratio performance of 13.1%, compared to 12.0% in the previous year. Also Read: Gold rate today: Israel-Iran war continues to fuel gold prices During the quarter, key offers were introduced, such as the Siya Ram Collection, Romantique, and Love 2024 on Valentine’s Day, along with the wedding collection.