Jewellery retailer Senco Gold expects to garner around 40 per cent of its revenue from outside eastern India by the financial year 2029-30 from the current 25 per cent.

The largest jewellery retail player in Eastern India plans to increase its business from outside East by opening more showrooms — both owned and franchise —to expand its footprint further across the country.

“We want to get around 40 per cent of our total revenue from outside the Eastern region by FY30. This revenue growth from outside East will be driven by opening more owned and franchise stores. Number of new franchise stores will be more than new owned stores as the franchise model is capital-saving for the company,” Senco Gold MD & CEO Suvankar Sen told businessline.

The Kolkata-based company currently has over 170 showrooms spread across 17 States in India as well as a showroom in Dubai.

The retailer is planning to open 18-20 showrooms, including 7-8 owned, in north and east India this fiscal.

The jewellery retailer is looking to maintain around 18-20 per cent revenue growth in the first half of this fiscal, backed by value growth in both gold and diamond jewellery.

“It is very important to watch gold price movements going ahead due to the Israel-Iran conflict and other geopolitical tensions. However, we want to maintain the revenue growth rate of around 18-20 per cent in H1FY26,” Sen said.

“Diamond jewellery is currently being preferred by consumers as its price is less compared with gold jewellery. However, for wedding jewellery, consumers are preponing purchase gold jewellery for the wedding season on fears of further rise in gold prices, which is leading to a growth in gold jewellery sales now,” he informed.

In the fourth quarter last fiscal, the company witnessed a 6 per cent decline in volume, specifically in terms of gold jewellery units sold, due to the rise in gold prices, while there was a 21 per cent volume growth in diamond jewellery. For Q4FY24, revenue growth stood at around 21 per cent at ₹1,377.71 crore.

Diamond jewellery currently contributes around 10 per cent to the company’s total turnover.

Senco Gold’s revenue grew around 21 per cent y-o-y at ₹6328.07 crore for FY25 compared to ₹5241.44 crore for FY24. Its Ebitda fell close to 3 per cent y-o-y at ₹370.39 crore for last fiscal.

“I think that the importance in today’s time is to stay and remain focused. We are aware of the various levers that will drive the business growth and the business profitability. And we are well conscious of the fact that in the increasing gold price, we need to create designs as per the need and the budget of the consumers, which we are very much doing and our sales team is engaging with the consumers,” Sen told analysts during an earnings call after the company declared its fourth quarter results.

Published on June 18, 2025