Kolkata: City-based jewellery retailer Senco Gold Ltd is aiming for a turnover of Rs 10,000 crore in FY27, a rise of about 25% from its revenue in the last fiscal. The company’s business strategy for the next five years, by when turnover is projected to reach Rs 20,000 crore, focuses on lightweight jewellery, digital marketing to attract Gen Z customers, old gold exchanges and opening more franchise stores to boost sales.
At the company’s annual general meeting held on Monday, MD and CEO Suvankar Sen said turnover in the last fiscal stood at Rs 8,430 crore, and attributed its Rs 574 crore net profit to a sharp jump in gold prices. “Our total revenue increased by 33% year-on-year in FY26. We are aiming for 25% revenue growth in this fiscal with over Rs 10,000 crore turnover. We are targeting about 4.5% net profit out of this turnover, or Rs 450 crore, in this fiscal. Our target is to reach Rs 20,000 crore revenue five years later,” Sen said.
He explained that high market prices drove old gold exchanges as customers traded in older pieces to buy new ornaments. “Old gold exchange accounted for about 44% of our total sales in FY26,” he said.
Currently, the company has a retail network of 201 stores, including 102 company-owned and 85 franchise-operated outlets. According to the MD and CEO, about 60% of the company’s revenue in the last financial year came from its own stores, while franchise stores accounted for 33% of turnover. The rest came from exports, e-commerce and corporate sales.
“Our focus is on franchise stores to control inventories. We are planning to open 25 (more franchise stores). Our plan is to have about 300 stores, both company-owned and franchise, by 2031. At the same time, we will push digital marketing to reach out to young customers. Lower-carat gold collections like 9-carat and 14-carat have allowed us to engage young customers in tier 2 and tier 3 cities,” Sen said.
