Senco Gold grows 60% at 9x earnings as jewellery retailers defy record gold prices in Q1FY27
Q1FY27 jewellery retailers posted strong growth despite import tax hikes and record gold at Rs 1.44 lakh/10g. Titan's domestic jewellery rose 39% (international +128%), while smaller rival Senco Gold outpaced at 60% revenue growth trading at just 9x earnings. Kalyan added 38% revenue with 28% SSSG.
Q1FY27 jewellery retailers posted strong growth despite higher import taxes and record gold prices. Titan's domestic jewellery grew 39%, international 128%; Senco Gold grew 60% at 9x earnings, Kalyan grew 38% with 28% SSSG.