Senco Gold Q2 FY24 update
lPO Funds Utilisation: The funds raised from IPO from primary portion (Net of IPO expenses) provided a boost to the working Capital of the company and support its future growth plans. We have used the funds for working capital purposes as stated in prospectus and would be submitting the requisite disclosures as per listing requirements soon.
Total Stores in India at 145. In Q2 FY24 one FOCO was converted to COCO in Jajpur district Odisha.
| Zone | Own | Franchisee | TotaI |
|---|---|---|---|
| East | 12 | 13 | 25 |
| West Bengal Excluding Kolkata | 14 | 48 | 62 |
| Kolkata | 23 | 0 | 23 |
| North | 20 | 1 | 21 |
| Cenkal (including MPCG) | 4 | 0 | 4 |
| West | 6 | 0 | 6 |
| South | 4 | 0 | 4 |
| Total | 83 | 62 | 145 |
- Consistent growth of 19% Revenue CAGR from FY20 onwards.
- Highest ever Q2 revenue with ~2% of gold coin sales.
- Q2 Sales growth of 26% YoY and 28% YoY in H1 was satisfactory in spite no festive season.
- Q2 SSSG (Same Store Sales Growth) was range bound it was 21% in Q1 but is ~17% in Q2.
- Gold Price in Q2 moved southwards about ~3% lower due to muted demand globally and in India. This helped in volume growth
- First virtual showroom ‘Sencoverse’ launched on the metaverse. ‘MySenco’ App download crossed 2.8 lakh users.