Senco Gold (SENCO) Q3 25/26 earnings summary

Executive summary

• Achieved record Q3 revenue of ₹3,071 Cr, up 50% YoY, with EBITDA of ₹404 Cr and PAT of ₹264 Cr, driven by festive demand, strategic focus on lightweight jewellery, and national expansion.

• Store network expanded to 196 showrooms, with 4 new openings in Q3 and a target to surpass 200 by year-end.

• Old gold exchange contributed 43%-45% to revenue, mitigating gold price volatility and supporting customer upgrades.

• Launched over 6,000 new gold and 3,300 new diamond designs in Q3, emphasizing rapid design innovation.

• Declared interim dividend of ₹0.75 per share for FY26 and board approved profit-linked commission for directors.

Financial highlights

• Q3 revenue grew 50% YoY to ₹3,071 Cr; EBITDA rose 5x YoY to ₹404 Cr; PAT increased 8x YoY to ₹264 Cr.

• 9M FY26 revenue up 30% YoY to ₹6,433 Cr; EBITDA up 2.9x to ₹695 Cr; PAT up 4.3x to ₹417 Cr.

• Adjusted EBITDA margin for Q3 at 13.2%, up 792 bps YoY; PAT margin at 8.6% for Q3.

• Inventory value increased 55% YoY to ₹4,602 Cr; borrowings rose 44% YoY to ₹2,248 Cr.

• Highest ever Dhanteras month sales at ₹1,716 Cr in October.

Outlook and guidance

• Targeting 20 new showroom openings in FY26, with 3-4 more in Q4 to reach 200 showrooms.

• Confident of achieving 25%+ YoY topline growth in Q4 FY26; maintaining EBITDA margin guidance of 7.5%-7.8% for FY27.

• Focus on lightweight, budget-friendly, and studded jewellery to drive growth.

• Targeting 20%+ revenue growth for the coming financial year.