Senco Gold's 60% growth outpaces Titan and Kalyan—yet trades at just 9x earnings
Indian gold jewellers posted strong Q1FY27 growth as festival and wedding demand held despite record gold prices and a 15% import tax. Titan's domestic jewellery rose 39%, Kalyan 38%, and smallcap Senco Gold led at 60%. Titan added 33 net domestic stores and grew international sales 128%.
Indian gold jewellers posted strong Q1FY27 growth: Titan's domestic jewellery +39%, Kalyan +38%, and smallcap Senco Gold +60%, driven by festival and wedding demand despite higher import taxes and record gold prices. Titan added 33 net domestic stores.