Senco Gold Limited, a leading jewelry retailer in India, holds the distinction of being the largest organized jewelry retail player in the Eastern region. With an extensive network of stores, it has established a strong presence in the market. In this post, we are going to see if buying and holding SENCO Golds in 2024 is a good investment choice. We will also be analysing Senco Gold’s share price target from 2024 to 2030.
About Senco Gold
Senco Gold stands as the largest jewelry retail player in East India, boasting an impressive network of 150 stores, both large and small format, that offer a diverse range of gold and diamond jewelry, as well as silver, platinum, precious, and semi-precious stones, and other metals. Their extensive product catalog includes over 108,000 designs for gold jewelry and 46,000 designs for diamond jewelry, all sold under the brand name “Senco Gold & Diamonds.”
Senco Gold’s market cap as of 22nd June 2024 stands at ₹8,072 Cr., with a current stock price of ₹1,039.
Latest News about Senco Gold
In a bid to revolutionize its digital presence, Senco Gold, a prominent jewelry retailer, has announced a strategic partnership with a cutting-edge tech start-up specializing in e-commerce solutions. This collaboration aims to enhance the online shopping experience for customers, offering a seamless and personalized platform for browsing and purchasing jewelry products. Leveraging advanced technology such as augmented reality (AR) and artificial intelligence (AI), the revamped online portal will provide customers with immersive virtual try-on experiences and personalized recommendations tailored to their preferences. This initiative reflects Senco Gold’s commitment to embracing digital innovation and meeting the evolving needs of its tech-savvy customer base. The partnership is poised to elevate the company’s online retail capabilities, positioning it as a frontrunner in the digital transformation of the jewelry industry.
Senco Gold Q4 FY24 Results: Summary and Key Points
- Senco Gold’s Q4 results reveal a robust revenue growth of 39% compared to the previous year’s quarter.
- The company’s same-store-sales-growth surged by 23% during the quarter, surpassing competitors such as Titan and Kalyan Jewellers.
- Expansion efforts were evident with the addition of four new stores in Q4, contributing to a total of 23 stores for FY 2024, marking the highest number added in a financial year.
- The studded ratio improved from 10.5% to 11.5%, indicating a higher proportion of high-value jewellery sales.
- Despite global gold price increases, Senco Gold witnessed a 13% rise in gold sales volume and a 19% increase in diamond sales volume for FY 2023-24.
- The old gold exchange as a percentage of sales rose to 32%, reflecting effective customer engagement strategies.
- The company remains optimistic about the new financial year, anticipating increased demand during festive seasons and events like Akshaya Tritiya.
- Senco Gold shares rallied up to 15% following the Q4 results announcement, reaching ₹916, nearly tripling from its IPO price of ₹317 since going public in September last year.
Below are the trading platforms that you can use to purchase Senco Gold shares:
➤ Zerodha
➤ Upstox
➤ Groww
➤ AngelOne
➤ ICICIDirect
| When | Maximum Price | Minimum Price |
| June 2024 | 1,045.70 | 909.31 |
| July 2024 | 1,035.25 | 900.21 |
| August 2024 | 1,076.66 | 936.22 |
| September 2024 | 1,119.72 | 973.67 |
| October 2024 | 1,097.77 | 954.58 |
| November 2024 | 1,141.68 | 992.76 |
| December 2024 | 1,153.10 | 1,002.69 |
Throughout 2024, Senco Gold shares are projected to experience varying maximum and minimum prices. In June 2024, the maximum price is projected to reach ₹1,045.70, with a minimum price of ₹909.31. By July, Senco Gold shares are projected to have a maximum price of ₹1,035.25 and a minimum price of ₹900.21. Moving into August, the shares are projected to peak at ₹1,076.66 and drop to a minimum of ₹936.22. September will see the maximum price projected to rise to ₹1,119.72, while the minimum is projected to be ₹973.67. In October, Senco Gold shares are projected to fluctuate between a maximum of ₹1,097.77 and a minimum of ₹954.58. By November, the maximum price is projected to increase to ₹1,141.68, with a minimum of ₹992.76. Finally, in December 2024, Senco Gold shares are projected to reach a maximum price of ₹1,153.10 and a minimum price of ₹1,002.69.
| When | Maximum Price | Minimum Price |
| January 2025 | 1,168.48 | 898.83 |
| February 2025 | 1,180.29 | 907.91 |
| March 2025 | 1,205.07 | 926.98 |
| April 2025 | 1,193.14 | 917.80 |
| May 2025 | 1,158.39 | 891.07 |
| June 2025 | 1,210.52 | 931.17 |
| July 2025 | 1,186.78 | 912.91 |
| August 2025 | 1,223.49 | 941.14 |
| September 2025 | 1,238.17 | 952.44 |
| October 2025 | 1,270.36 | 977.20 |
| November 2025 | 1,302.12 | 1,001.63 |
| December 2025 | 1,360.71 | 1,046.70 |
In 2025, the trajectory of Senco Gold’s share prices is anticipated to exhibit a dynamic pattern. Starting in January, the shares are expected to reach a maximum of 1,168.48 and a minimum of 898.83. As the months progress, fluctuations continue with February seeing highs of 1,180.29 and lows of 907.91, and March reaching a peak of 1,205.07 and a low of 926.98. The trend continues throughout the year, with share prices experiencing highs and lows, culminating in December with a maximum of 1,360.71 and a minimum of 1,046.70.
| Year | Maximum Price | Minimum Price |
| 2026 | ₹1,567.94 | ₹887.56 |
| 2027 | ₹1,794.73 | ₹976.31 |
| 2028 | ₹1,852.62 | ₹976.31 |
| 2029 | ₹1,990.58 | ₹845.29 |
| 2030 | ₹2,197.76 | ₹1,538.43 |
Looking forward, Senco Gold’s prices are projected to exhibit notable fluctuations across the next few years. In 2026, the maximum price of Senco Gold is expected to reach ₹1,567.94, with the minimum price anticipated at ₹887.56.
Moving into 2027, Senco Gold’s maximum price is forecasted to increase to ₹1,794.73, while the minimum price is expected to be ₹976.31. By 2028, both the maximum and minimum prices are projected to stabilize around ₹1,852.62, reflecting a period of consistent valuation.
In 2029, Senco Gold’s maximum price is anticipated to rise further to ₹1,990.58, with the minimum price potentially decreasing to ₹845.29. Looking ahead to 2030, Senco Gold’s maximum price is forecasted to reach ₹2,197.76, while the minimum price is expected to be ₹1,538.43, indicating robust growth and fluctuating market dynamics.
Financial Condition of Senco Gold: Last 5 years
| Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | |
| Sales + | 2,420 | 2,660 | 3,535 | 4,076 | 5,230 |
| Expenses + | 2,197 | 2,479 | 3,247 | 3,746 | 4,848 |
| Operating Profit | 223 | 182 | 287 | 330 | 381 |
| OPM % | 9% | 7% | 8% | 8% | 7% |
| Other Income + | 9 | 15 | 13 | 32 | 43 |
| Interest | 63 | 73 | 80 | 98 | 108 |
| Depreciation | 37 | 40 | 42 | 45 | 59 |
| Profit before tax | 132 | 84 | 178 | 219 | 257 |
| Tax % | 31% | 26% | 27% | 26% | 27% |
| Net Profit + | 91 | 62 | 130 | 161 | 189 |
| EPS in Rs | 17.1 | 11.57 | 24.47 | 28.81 | 24.29 |
| Dividend Payout % | 0% | 13% | 4% | 5% | 4% |
From March 2020 to March 2024, the financial performance of the company demonstrated a pattern of growth and stability, albeit with some fluctuations in key metrics.
Sales: Sales increased steadily over the period, rising from ₹2,420 crore in March 2020 to ₹5,230 crore in March 2024, reflecting robust revenue growth.
Expenses: Concurrently, expenses also increased from ₹2,197 crore to ₹4,848 crore, driven by operational needs and growth initiatives.
Operating Profit: Operating profit improved from ₹223 crore to ₹381 crore, indicating effective cost management and operational efficiency.
Operating Profit Margin (OPM): The Operating Profit Margin fluctuated between 7% and 9% throughout the period, showing moderate profitability levels relative to sales.
Other Income: Other income saw an increase from ₹9 crore to ₹43 crore, contributing positively to overall earnings.
Interest and Depreciation: Interest expenses grew from ₹63 crore to ₹108 crore, while depreciation expenses increased from ₹37 crore to ₹59 crore, reflecting higher capital investment and financing costs.
Profit before Tax (PBT): Profit before tax rose from ₹132 crore to ₹257 crore, driven by higher operating profit and other income, despite increased financial costs.
Taxation: The effective tax rate remained relatively stable, varying between 26% and 31% over the years.
Net Profit: Net profit climbed from ₹91 crore to ₹189 crore, showing consistent growth in bottom-line earnings.
Earnings Per Share (EPS): EPS improved significantly from ₹17.1 to ₹28.81 by March 2023, before declining slightly to ₹24.29 by March 2024, indicating strong earnings per share performance driven by profit growth.
Dividend Payout: The company maintained a low dividend payout ratio, ranging from 0% to 13% over the years, signaling a preference for retaining earnings to fund future growth opportunities.
FAQs
What is the current market capitalization of Senco Gold?
The current market cap of Senco Gold is ₹8,072 Crores.
The current share price is ₹1,039.
What is the stock’s Price-to-Earnings (P/E) ratio?
The stock’s P/E ratio is 42.8.
In January 2025, the maximum expected share price is ₹1,168.48, and the minimum is ₹898.83. The maximum and minimum targets increase steadily, with a peak of ₹1,360.71 and a minimum of ₹1,046.70 in December 2025.
The share price targets for this period indicate a gradual but substantial growth trajectory, with maximum and minimum levels gradually increasing each year.
According to Vaibhav Kaushik, a Research Analyst at GCL Broking, Senco Gold is considered a quality company with the potential for long-term growth.
Also Read:
- TITAN SHARE PRICE TARGET 2024, 2025 to 2030
- ZOMATO SHARE PRICE TARGET 2024, 2025 to 2030
- TRENT SHARE PRICE TARGET 2024, 2025 to 2030
Conclusion
In conclusion, Senco Gold Limited is a prominent contender in the competitive Indian jewelry industry, bringing its own unique strengths and market presence to the forefront. Senco Gold’s remarkable position as the largest organized jewelry retail player in the Eastern region, with a network of 150 stores offering a diverse range of jewelry options, underscores its stronghold in the market.
Senco Gold specialize in gold and diamond jewelry, with an unwavering commitment to offering hallmarked and certified products, assuring quality and authenticity to customers. Senco Gold’s financial performance over the last five years reveals a compelling growth story, marked by consistent increases in sales, operating profit, and net profit, reflecting a strong financial performance and growth potential.
Market analysts and experts have provided optimistic share price targets for Senco Gold, indicating the potential for growth in both the short term and long term. However, prudent investors should conduct thorough research, consider their investment objectives, and manage their risk tolerance when navigating the dynamic Indian jewelry market.
Senco Gold presents promising opportunities for investors, but market conditions can fluctuate, emphasizing the importance of careful consideration and consultation with financial experts. In this comprehensive exploration of these two prominent jewelry companies, we have delved into every aspect of their operations, growth strategies, market presence, and investment potential within the vibrant Indian jewelry industry.
In my personal opinion, Senco Gold is a good investment opportunity, as the growth opportunity is immense. The company is less than Rs. 10,000 Crore marketcap, and has potential to do more than 5x, as its business grow.
What did we learn?
- 1 About Senco Gold
- 2 Latest News about Senco Gold
- 3 Senco Gold Q4 FY24 Results: Summary and Key Points
- 4 How to purchase Senco Gold Shares?
- 5 Senco Gold Share Price Target 2024 to 2030
- 6 Financial Condition of Senco Gold: Last 5 years
- 7 FAQs
- 7.1 What is the current market capitalization of Senco Gold?
- 7.2 What is the current share price of Senco Gold?
- 7.3 What is the stock’s Price-to-Earnings (P/E) ratio?
- 7.4 What are the 2025 share price targets for Senco Gold?
- 7.5 What is the share price targets for Senco Gold from 2026 to 2030?
- 7.6 Should I consider holding Senco Gold shares for the long term?
- 7.7 Also Read:
- 8 Conclusion
