Senco Gold: Upcoming gold story!

1. Business Performance

  • Retail Sales Growth: 11%
  • Same Store Sales Growth (SSSG): 4%
  • Akshay Tritiya Performance:
    • YoY Growth: 21%
    • Despite challenges: high heat wave, Lok Sabha elections, and low wedding days
  • Average Transaction Value (ATV) and Average Selling Price (ASP): Grew by 12%
  • Total Sales Growth: 9% YoY (including exports, e-commerce, corporate, digital products)
  • Marketing and Branding Strategies:
    • Attracted footfall during traditional New Years (Bihu, Gudi Padwa, Poila Baisakh, Baisakhi, Akshay Tritiya)
    • Launched new collections:
      • Gathbandhan Wedding Collection
      • Everlite Diamond Collections: Ribbon, Forest Queen, Pleat
  • Product Innovations:
    • New designs and pocket-friendly products
    • Introduction of Senco Gold Beans: India’s first tablet-sized gold beans, ideal for young investors

2. Industry Update

  • Gold Price Increase:
    • Global Price Rise: ~17% (April 2023 to March 2024)
    • Further Increase in Q1: ~9.5% (US$ 2340/Oz in June 2024)
    • Peak Price: US$ 2450/Oz (mid-May 2024)
    • YoY Average Price Increase in Q1: ~20%
    • QoQ Basis: 13% increase versus Q4
  • Drivers of Price Rise:
    • Global economic uncertainty
    • Israel-Hamas war
    • Weakening US dollar
    • Global dedollarization talks
    • Central bank buying (290 tonnes), led by China, Turkey, and India

3. Showroom Expansion

  • New Showrooms Added in Q1: 6 (4 owned, 2 franchisee)
  • Total Showrooms (as of 30th June 2024): 165
    • 4 in West Bengal, 1 in North, and 1 in Dubai

4. Outlook FY 24-25

  • Focus on Wedding Buying:
    • Preparing for increased wedding-related purchases in Q2 and H2
    • Key festivals and events: Rath Yatra, Independence Day, Teej, Durga Puja, Navratri, Dhanteras/Diwali, and Weddings
  • Showroom Expansion:
    • Strong pipeline of new showrooms planned throughout the year
    • Growth expected in both owned and franchise channels
  • Growth Expectations:
    • Maintained a healthy CAGR of 21% over the last 5 years
    • Anticipate growth of 18% - 20% for the current year
12 Likes

image
When I try to buy some shares on Senco, I got this message. what does it mean ? can someone help me to understand pls

1 Like
1 Like
4 Likes