Jewellery Firm Posts Record Q4 Revenue, Boosted by Festive Demand and Tier 3–4 Town Growth
Senco Gold shares surged 5 percent on April 9, hitting the upper circuit at ₹317 apiece, after the company released its strongest-ever fourth-quarter revenue update, defying a sharp downtrend in the stock’s performance so far in 2025. The company reported a 19.1 percent year-on-year rise in revenue for the January–March quarter, crossing ₹1,300 crore in Q4 FY25, driven by robust demand from festive and wedding-related purchases. This marks the highest fourth-quarter revenue in the company’s history.
Despite the current rally, Senco Gold’s stock remains under pressure for the year, having declined over 46 percent year-to-date, a stark contrast to the broader market’s more modest losses, with the Nifty 50 falling about 5 percent over the same period. The Q4 update, however, has injected renewed investor interest into the jewellery maker.
Stock locked in 5% upper circuit at ₹317 on April 9
Q4 FY25 revenue up 19.1% YoY to over ₹1,300 crore
Full-year revenue crosses ₹6,200 crore, up 19.4%
YTD share decline of 46% contrasts with Nifty’s 5% drop
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Retail Growth, Regional Expansion and Festive Surge Propel Revenues
According to its business update, Senco Gold recorded a full-year top-line of over ₹6,200 crore, reflecting a 19.4 percent annual growth in retail business. The jewellery chain attributed this stellar performance to strong consumer footfall across its stores, particularly due to heightened activity during India’s busy wedding and festive seasons.
Same-store sales growth (SSSG) for Q4 stood at a robust 18.4 percent, while SSSG for the full fiscal year was reported at 14.6 percent. Encouragingly, revenue expansion was most pronounced in Tier 3 and Tier 4 towns, signaling a notable shift in purchasing power and discretionary spending trends outside of India’s major metropolitan hubs.
Same-store sales up 18.4% in Q4; 14.6% for FY25
Tier 3 and Tier 4 markets outperform metros and Tier 2 cities
Weddings and festivals cited as primary demand drivers
Diamond Jewellery Shines; East India Sales Diversify
Another standout metric from the report was the 39 percent jump in diamond jewellery sales, underlining a growing consumer appetite for premium and semi-premium jewellery categories. Additionally, the stud ratio, which represents the proportion of studded jewellery sold, increased slightly to 10.9 percent from 10.5 percent, suggesting a tilt toward more value-added jewellery offerings.
Revenue outside Senco Gold’s traditional stronghold in eastern India also delivered a stellar performance, growing by 23 percent year-on-year. Total sales from these regions hit ₹1,100 crore in FY25, up from ₹940 crore the previous year, reflecting a deliberate strategy to diversify regional dependence and penetrate newer markets.
Diamond jewellery sales grew 39% YoY
Studded jewellery ratio up to 10.9% from 10.5%
Revenue outside East India up 23%, at ₹1,100 crore in FY25
Retail Network Expansion Accelerates Across Key States
The March quarter saw four new showroom openings across West Bengal and Uttar Pradesh, under both franchise and Company-Owned Company-Operated (COCO) formats. For the full fiscal year, Senco Gold inaugurated 15 new stores, with six operated by franchise partners.
These additions bring the company’s total retail footprint to 175 showrooms, including its maiden international outlet in Dubai. The company’s expansion strategy appears to be balanced, targeting both domestic growth corridors and international presence to build brand equity.
Four showrooms added in Q4 FY25 across West Bengal and UP
15 stores opened in FY25, six via franchise model
Total store count now at 175, including Dubai outlet
Outlook Turns Brighter as Operational Metrics Strengthen
While the stock has been underperforming in recent months, Senco Gold’s strong operational data for Q4 FY25 could serve as a catalyst for a potential re-rating, especially if margin expansion and volume growth sustain in the coming quarters. The increase in studded jewellery ratio, geographical diversification, and strong Tier 3–4 demand underscore the brand’s widening appeal.
Investor sentiment has started to improve, at least in the near term, as reflected in the sharp price action on April 9. The business update also signals that Senco Gold may be entering a more stable growth phase, which could eventually help recover lost market capitalization if positive trends persist.
Stock sentiment improves on robust Q4 performance
Wider appeal in small-town markets adds growth depth
Operational efficiencies and product mix upgrades support long-term trajectory
