Listed jewellery firm Senco Gold witnessed 6.5 per cent growth in revenue in Q2 of FY26 as compared to the same quarter last year. The company in a stock exchange filing said that this performance was achieved amidst factors like a high base effect due to a custom duty cut in Q2 FY25, a Shraddh season (September 7th to 21st), and a shift of consumer demand for a certain section of consumers towards capital goods due to a significant GST reduction.
Moreover, in Kolkata and West Bengal, rains and a flood-like situation after Shraddh also impacted the momentum, the company said.
The second quarter of FY26 saw gold prices rising by 8% QoQ and 43% YoY on average, leading to major demand from global central banks, investment-led demand for ETFs and resilient consumer demand amidst high gold prices. The gold price in Q2 FY26 reached ₹1,16,500, the highest ever recorded, as against ₹1,00,800 in Q1 FY26 and ₹75,300 in Q2 FY25.
The company’s retail expansion continued in the second quarter with the launch of 5 new showrooms, bringing our total store count to 184 (net of Sennes stores shown separately). The expansion includes four domestic showrooms—one company-owned in Kolkata and three franchise locations, one in Bihar and two in West
Bengal—and one more international showroom in Dubai.
The Sennes brand also increased its footprint with the launch of one new showroom at Hyderabad, taking the brand’s total exclusive store count to 8. The brand’s presence in Shop-in-Shop (SIS) formats also grew, reaching 100+ SIS counters.
The company has witnessed a continuous growth in diamond jewellery demand since Q4 FY 25, and the momentum continued in Q2 as well with value growth of 12% in Q2; and for H1, the value growth was 31% and volume growth was 14%. Similarly, Silver sales also achieved a sharper 54% value growth.
