Senco Gold Ltd

Q2 FY26Consumer Durables

Senco Gold Q2 FY26 earnings call: Revenue & Margins

Q2 FY26 earnings call: what management guided on revenue, margins and order book.

Price₹345

Market cap₹6.5K Cr

P/E11.4

Updated23 Aug 2026

Read4 min read

The short version

The company expects strong growth moving forward, with a YTD increase of around 25% as of October 2025 and a guidance of 18%-20% growth for the rest of the year, targeting overall 20%+ growth for the whole year. Company targets 18% to 20% revenue growth year-on-year for the next 5 to 10 years.

From Senco Gold Ltd's Q2 FY26 earnings-call transcript · updated 23 Aug 2026.

Revenue & Sales Performance

The company expects strong growth moving forward, with a YTD increase of around 25% as of October 2025 and a guidance of 18%-20% growth for the rest of the year, targeting overall 20%+ growth for the whole year.
Wedding season and festive campaigns (diamond and gold jewellery) are key drivers for Q3 and Q4, with optimistic outlook supported by a 55%-60% growth in October alone and continued momentum in November.
They anticipate continued growth in diamond jewellery sales, aiming to increase the stud ratio from 12% to 13%-13.5% by FY '27.

2 more points management made on revenue & sales performance

Profitability & Margins

Company targets 18% to 20% revenue growth year-on-year for the next 5 to 10 years.
Sustainable EBITDA margin guidance is around 7.1% to 7.5%, with a stable target of minimum 7%.
Growth driven by a mix of Same Store Sales Growth (SSSG) of 12%-14% and new stores adding 6%-8%.
Stud ratio (diamond jewelry contribution) is expected to increase from 12% to 13%-13.5% in FY '27, potentially reaching 15% longer-term.
Operating Cash Flow expected to remain robust, with no impediment to growth from working capital.

2 more points management made on profitability & margins

See what Senco Gold Ltd said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

Senco Gold Limited plans to add 20 to 25 stores next year, with about 80% of this expansion focused in the East and North regions due to higher potential and better margins.
The company is working to increase franchise store openings, with 8 franchise stores already opened this year and 4 to 6 more in the pipeline.
Investment for a full-fledged flagship store involves inventory of around 30 to 40 kg of gold; tier 2 and 3 cities require less inventory with faster replenishment.
Franchise store investments vary, with formats like the Everlite model requiring INR 6 crore to INR 8 crore capital focusing on lightweight jewelry.

2 more points management made on capital expenditure plans

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Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.

Fundraising & Capital Structure

There is no explicit mention of any immediate or planned new fundraising through debt or equity in the provided transcript.
The management highlighted that working capital and borrowing needs will naturally rise with business growth and inventory increases.
Net debt-to-equity ratio is maintained around 0.75, indicating a comfortable leverage position.
Any capital for growth will primarily come from ploughing back of profits or equity/QIP when needed.
Debt levels are managed actively, with seasonal peaks and reductions around March and September.

2 more points management made on fundraising & capital structure

See what Senco Gold Ltd said on fundraising & capital structure — free account, 30 seconds.

Order Book & Pipeline

The transcript from the provided pages does not explicitly mention the current or expected order book or pending orders for Senco Gold Limited. However, some relevant insights related to sales and growth are as follows: - Highest-ever sales recorded in October at INR 1,700 crores, up from INR 1,100 crores last year. - Year-to-date (YTD) value growth of almost 25% year-on-year. - Revenue growth target of INR 7,400 crores for the full year, with over INR 5,000 crores already achieved. - Strong momentum continuing post the Dhanteras buying season.

2 more points management made on order book & pipeline

Senco Gold Ltd — Quarterly revenue & net profit

Revenue Net profit

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Reported quarterly figures (₹ Cr). Latest: revenue ₹2.0K Cr, net profit ₹158 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

Full financials →

What Senco Gold Ltd's management said in earlier quarters

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Frequently Asked Questions

What were Senco Gold Ltd Q2 FY26 results?

What is Senco Gold Ltd share price analysis?

Senco Gold Ltd currently shows a neutral. The stock trades at a P/E of 11.4 with a market cap of ₹6,540 Cr. Investors should review the full earnings analysis for detailed insights.

Is Senco Gold Ltd planning capital expenditure?

Senco Gold Limited plans to add 20 to 25 stores next year, with about 80% of this expansion focused in the East and North regions due to higher potential and better margins.

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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.