Senco Gold grows 60% and trades at 9x earnings—an 88% valuation discount to Titan
Q1FY27 jewellery updates show Titan's domestic segment up 39% and international up 128% across 1,227 domestic and 163 international stores. Kalyan rose ~38% (SSSG ~28%), while Senco Gold led growth at 60% (SSSG 38%). Yet Senco trades at 9.3 P/E versus Titan's 79.3, despite gold at Rs 1.45 lakh/10g and import tax hiked to 15%.
Q1FY27 jewellery updates: Titan's domestic jewellery grew 39%, Kalyan ~38%, and Senco Gold 60%. Festivals and weddings drove demand despite higher gold prices and import taxes. Senco trades at 9.3 P/E, an 88% discount to Titan.