Senco Gold Touches A Significant Milestone Of Rs 1,000 Per Share Today

Senco Gold Limited is an India-based jewellery retailer. The company primarily sells gold and diamond jewellery and also offers jewellery made of silver, platinum, precious and semi-precious stones, and other metals. There is a significant surge in the company’s stock price today.

Share Performance

At the start of the day’s trading session, the stock opened at Rs 946.90 per share, down compared to the previous day’s closing figure of Rs 951.90 per share on the NSE.

Furthermore, the company’s stock touched a significant milestone of Rs 1000 for the first time ever. The company’s shares debuted on the Indian market in July 2023 at Rs 430 per share on the NSE, representing a premium of 36% on the listing day compared to the final issue price of Rs 317 per share. The shares of the company doubled in price, based on the final IPO issue price, and touched Rs 634 within the next 2.5 months from the listing day. Currently, the shares of the company are trading at Rs 1009.10 per share on the NSE.

The company’s current market capitalisation stands at Rs 7820 crore, and the stock has generated an impressive return of around 37% during the past one month and a multibagger return of around 218% return over its final issue price of Rs 317 per share.

Stock Chart (Daily)

Financial Performance

In Q3 FY24, Senco Gold reported revenue of Rs 1651 crore, representing a year-on-year growth of 22.82% from Rs 1344 crore in the same quarter last year. The operating profit of the company stands at Rs 183 crore, with an operating profit margin of 11%, compared to Rs 163 crore in the same quarter last year. The net profit of the company stood at Rs 111 crore in the December quarter, an improvement compared to a net profit of Rs 104 crore, representing a growth of around 7% YoY.

The company’s ROCE and ROE are 15.5% and 19.2%, respectively, while the shares are trading at 45.2 times in the market.

In terms of ownership, the promoter holds 68.46%, while Foreign Institutional Investors (FIIs) and Domestic Institutional Investors (DIIs) hold 14.48% and 7% respectively. The remaining 10.07% is held by public investors as per the most recent update.

Business Overview

Senco Gold Limited is an India-based jewellery retailer. The company primarily sells gold and diamond jewellery and also offers jewellery made of silver, platinum, precious and semi-precious stones, and other metals. Additionally, the company’s offerings include costume jewellery, gold and silver coins, and utensils made of silver. Senco Gold offers approximately 108,000 designs for gold jewellery and more than 46,000 designs for diamond jewellery. It also provides a variety of handcrafted jewellery designs. The company’s products are sold under the trade name Senco Gold & Diamonds through multiple channels, including approximately 70 company-operated showrooms and 57 franchisee showrooms.

Disclaimer: This post has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.