Senco Gold Q1 Results Review - Better Margin Delivery In Tough Quarter: Motilal Oswal

NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy. .Motilal Oswal Report.Senco Gold Ltd. consolidated revenue grew 8% YoY to Rs 14,039 million (estimate Rs 15,469 million) in Q1 FY25. Same store sales growth decelerated to 4% (versus 23% in Q4 FY24, 19% in FY24), impacted by heatwaves, general elections, fewer wedding days and gold inflation. The management noted that demand has bounced back after the reduction in customs duty. Demand for both wedding and nonwedding jewelry saw a spike. The share of studded jewelry was lower at 10% compared to 11% in Q1 FY24. Studded revenue declined ~3% YoY.Gross margin expanded by 480 basis points YoY and 20 bp QoQ to 17.3%, due to better performance from franchised stores, lower discounting and higher sales of high-end jewelry. Ebitda margin improved to 7.7% versus 5.1% in Q1 FY24. The reduction in customs duty is expected to impact inventory valuation by Rs 500 million and, consequently, affect gross margin and Ebitda over the next two to three quarters. The management has lowered its profitability guidance to 15-18% from the previous range of 18-20%..Click on the attachment to read the full report:.NCL India Q1 Results Review - Net Profit Largely Inline; Revenue/Ebitda Miss: Axis Securities.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Senco Gold Q1 Results Review - Better Margin Delivery In Tough Quarter: Motilal Oswal

In line with the formalization in the jewelry market, the brokerage continues to see store expansion-led growth for the company.

NDTV Profit

NDTV Profit

Follow Us

DOWNLOAD THE APP

Senco Gold Q1 Results Review - Better Margin Delivery In Tough Quarter: Motilal Oswal

In line with the formalization in the jewelry market, the brokerage continues to see store expansion-led growth for the company.

Choose a plan

Follow Us

DOWNLOAD THE APP