Jewellery chain Senco Gold aims 15-20% growth in revenue, profit in FY25

Leading jewellery chain Senco Gold Ltd is looking at 15-20 per cent growth in revenue and profit in the current fiscal, despite rising prices of the yellow metal and global uncertainties. The jeweller is also planning to add 15-20 stores in the current 2024-25 financial year (FY'25), of which around 50 per cent will be franchisee-owned."We are looking at a growth of 15 per cent as a conservative estimate, which may go up to 20 per cent in normal circumstances, in both revenue and profit in FY'25," Senco Gold MD & CEO Suvankar Sen told PTI.The jewellery chain reported a 39 per cent year-on-year revenue growth in the fourth quarter of FY'24 (2023-24) to Rs 1,137 crore, while its profit jumped 23 per cent to Rs 32.17 crore. For the entire fiscal year, the revenue growth was 29 per cent with turnover reaching Rs 5,241 crore, backed by rising gold prices and increased demand from existing and new stores. The net profit expanded by 14 per cent to Rs 181 crore."We plan to add another 15-20 stores in the current fiscal. These outlets will be divided equally between company-owned and franchisee-based ones. We have invested in new store capex (capital expenditure) and capacity building for the future, amounting to over Rs 38.23 crore for our pan-India strategy," he said.