Senco Gold outpaces Titan with 60% jewellery growth—yet trades at just 9x earnings
Q1FY27 updates show Titan's domestic jewellery up 39% and international sales surging 128% after the Damas addition, while Kalyan grew 38%. Smallcap rival Senco Gold led the pack at 60% y-o-y despite a jump in gold import taxes to 15% and gold near Rs 1.44 lakh/10g.
Q1FY27 jewellery update: Titan's domestic business grew 39%, Kalyan 38%, and smallcap Senco Gold 60%. Titan added 33 net domestic stores (1,227 total) and saw international sales jump 128% after Damas addition, despite higher import taxes.