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Multibagger stock Senco Gold shines after releasing Q2FY25 update
Source: Business Standard
Senco Gold share price after Q2FY25
Senco Gold’s share price gained 5 per cent on Wednesday and registered an intraday high of Rs 1,418.55 per share. The jewellery stock glittered after the company released its Q2FY25 and H1FY25 update.
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In its Q2 update released on Tuesday after market hours, Senco Gold reported retail growth of 27 per cent year-on-year (Y-o-Y) for Q2FY25 and 19 per cent for H1 Y-o-Y.
Stud ratio describes the proportion of jewellery with studded stones compared to plain gold jewelry.
In the quarter ended September 30, 2024, the company launched 15,700 new gold jewellery designs and 7,400 diamond jewellery designs in H1FY25. Meanwhile, the old gold exchange continued to reinforce non organised to organised transition with a 32 per cent contribution from old gold and over 62 per cent from other players.
Senco Gold H2 2025 guidance
The company will launch 18-20 jewellery showrooms including 10-12 franchisee in H2 2025, out of which 8 showrooms were already launched in H1.
The management said it has a strong pipeline of own and franchisee showrooms to meet the yearly target. The company is also on course for 18-20 per cent Y-o-Y revenue growth for FY25 considering the ensuing festive season.
Further, they are taking all strategic initiatives, launching new collections, and taking all steps to improve the stud ratio to 12 per cent.
In a report dated September 17, Emkay Global reiterated its ‘Buy’ rating on Senco Gold for a target price of Rs 1,600. The brokerage sees a significant re-rating scope for Senco Gold, helped by a strong pick-up in Q2.
In the past one year, Senco Gold shares have gained 123.4 per cent against Sensex’s rise of 25 per cent.
First Published: Oct 09 2024 | 2:06 PM IST
