Senco Gold (SENCO) Q4 25/26 earnings summary

Executive summary

• FY26 revenue reached ₹84,300 million, up 33% YoY, with Q4 revenue at ₹19,966.6 million, and PAT for FY26 at ₹5,743.2 million, marking record growth.

• EBITDA for FY26 rose 164% YoY to ₹9,690.1 million (11.5% margin); Q4 EBITDA up 116% YoY to ₹2,743.5 million (13.7% margin).

• Same Store Sales Growth was 24% for FY26 and 35% for Q4, reflecting strong showroom performance.

• Growth driven by higher gold prices, new store openings, product innovation, and strong customer loyalty, especially in East India and Bengal.

• Final dividend of 20% (₹1 per ₹5 share) recommended for FY26, subject to shareholder approval.

Financial highlights

• Revenue grew from ₹63,281 million in FY25 to ₹84,300 million in FY26 (33% YoY); PAT rose from ₹1,593.1 million to ₹5,743.2 million.

• EBITDA increased from ₹3,676.3 million to ₹9,690.1 million (11.5% margin).

• Inventory increased 61% YoY to ₹52,961 million, mainly due to gold price rise and new store launches.

• Interest coverage ratio improved to 4.3; ROE and ROCE reached 25.7% and 22.5%, respectively.

• Working capital borrowings rose to ₹23,453 million.

Outlook and guidance

• FY27 guidance: 18%-20% revenue growth, 7.5%-7.8% EBITDA margin, and 4%-4.5% PAT margin.

• Plans to launch 18–20 new showrooms, focus on lightweight jewellery, and expand franchise model.

• Inventory gains from customs duty hike expected to be realized over Q1 and Q2.

• Sustainable ROE/ROCE targeted at 16%-20% over the next few years.

• The company has assessed and recorded the financial impact of India's new unified labour codes effective November 2025.