Leading jewellery retailer Senco Gold Ltd said it expects Q3 to be the strongest quarter of the year with regards to growth and sales despite gold prices being up by around 15 per cent this year.
In an interaction on Saturday, the company’s MD and CEO, Suvankar Sen, said they were eyeing robust festive and wedding season sales in the second half of FY26, and confident of sustaining 18-20 per cent topline growth for the year on the back of GST rate cuts and wedding season demand.
“Year-on-year, gold prices are already up by 14-15 per cent. Despite this, our outlook for consumer demand in Q3 and Q4 remains optimistic, underpinned by a positive economic environment and the recent GST rate cut. We are confident of achieving 18-20 per cent topline growth for FY26,” he said.
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Sen said the company has built up an inventory with a diverse mix of festive and bridal collections ahead of approaching festivals such as Dhanteras and Diwali, and the wedding season.
Senco has also introduced new lines of lightweight and low-carat gold jewellery, including 9-carat collections, to cater to a growing demand for affordable options amid elevated gold prices.
The company’s retail network has expanded to 185 showrooms, with two new outlets inaugurated this week – one at Naihati in West Bengal, and another in Uttar Pradesh. It is committed to its annual target of 20 new showrooms in FY’26, the company said.
In the first half of FY26, Senco reported 17.8 per cent year-on-year growth in revenue, led by 16 per cent growth in the retail segment and 7.5 per cent same-store sales growth (SSSG).
Demand for diamond jewellery also surged, with 31 per cent value growth and 14 per cent volume growth during the period.
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