Senco Gold posts 60% revenue growth, outpacing Titan and Kalyan—yet trades at just 9.3x earnings
Indian gold jewellery retailers delivered strong Q1FY27 revenue despite gold near Rs 1.44 lakh/10g and a hike in import tax to 15%. Titan grew 39% domestically (+128% international), Kalyan ~38%, and Senco Gold led with 60% growth and 38% SSSG. But valuations diverge sharply: Titan at 79.3x P/E, Kalyan 26.6x, Senco just 9.3x.
Indian gold jewellery retailers posted strong Q1FY27 revenue despite higher gold prices and import taxes. Titan grew 39% domestically, Kalyan ~38%, and Senco Gold 60%—yet Senco trades at just 9.3x earnings versus Titan's 79.3x.