Senco Gold grew 60% vs Titan's 39%—yet trades at just 9x earnings
Q1FY27 jewellery results show broad strength: Titan's domestic jewellery grew 39% and international 128% (aided by Damas), adding 33 net stores to reach 1,227 domestic and 163 international. Kalyan grew ~38%. Smallcap Senco Gold outpaced peers at 60% revenue growth despite a 9x earnings multiple, even as gold hit Rs 1.44 lakh/10g and import taxes climbed.
Indian jewellery retailers posted strong Q1FY27 growth. Titan's domestic jewellery grew 39% and international 128% (aided by Damas), adding 33 stores. Kalyan grew ~38%, while smallcap Senco Gold grew 60% yet trades at just 9x earnings.