Senco’s gold sales drops 6%; customers bullish on silver, diamond

Senco Gold Limited reported a six per cent drop in gold volumes in the financial year ending March 2026, while silver and diamond sales grew 35 per cent and 9 per cent respectively. Citing high gold prices, Senco said, “Exceptional price rise led to a normalized 6% YoY reduction in gold volumes in FY26. Silver volumes surged by 35% YoY in FY26 as consumers prioritised long-term value. Similarly, diamond volumes also grew 9% YoY in FY26, clearly indicating demand for natural diamonds as a first choice.”

In Q4 FY26, the company reported its highest-ever Q4 retail sales of Rs 1.731 crore, with a 35 per cent annual growth, majorly driven by the wedding season, strong gifting demand for Valentine’s Day, and continued leveraging of the Old Gold Exchange programme. Shares of Senco Gold Limited were trading at Rs 342.20 per scrip as at 12:48 on Wednesday after witnessing a drop of Rs 7.45 (-2.13%). Senco Gold has maintained around 40-50% hedging to manage price volatility risk and liquidity risk in uncertain markets.

“Despite this, consumer demand remained resilient in value, driven by a well-distributed wedding season spanning the full quarter,” Suvankar Sen, Managing Director & CEO, said, highlighting the gradual shift towards lightweight jewellery or lower caratage. The brand is now looking to enhance the performance of lightweight jewellery for FY27.