Senco Gold outgrows Titan with 60% jump—yet trades at just 9x earnings in Q1FY27
Indian jewellery retailers posted strong Q1FY27 demand despite a 15% gold import tax and Rs 1.44 lakh/10g prices. Titan's domestic jewellery grew 39% (international 128% via Damas) across 1,227 outlets; Kalyan added 38% revenue on 28% SSSG. Smallcap Senco Gold led the pack at 60% growth on a 9x earnings multiple.
Indian jewellery retailers posted strong Q1FY27 demand despite higher gold import taxes. Titan's domestic jewellery grew 39%, international 128% via Damas; Kalyan grew 38%, while smallcap Senco Gold led at 60% and trades at just 9x earnings.