Steady rise in demand for natural diamonds in Q1 is helping boost both that category and the company’s overall margins, and could pave the way for similar growth for the full year, according to Suvankar Sen, MD& CEO, Senco Gold & Diamonds
Kolkata: Diamond jewellery is growing faster than plain gold, offering better profitability to retailers. Based on this, Senco Gold & Diamonds is targeting a revenue growth of about 20% in FY26, as it has seen increasing demand for diamond-studded jewellery. Suvankar Sen, Managing Director and CEO, Senco Gold & Diamonds, said the strong start seen in the April-June 2025 quarter (Q1FY26)could pave the way for similar growth for the full year.
Demand for diamond jewellery picked up in the recent quarter, with the studded jewellery business seeing strong traction. Studded jewellery, which contributed 10.9% to the brand’s overall sales last year, has now crossed 11%.The company aims to diversify its portfolio, with diamonds contributing to 15% of revenue, lab-grown diamonds 1% to 2%, and silver and platinum 2% to 3%. About 20% will be the non-gold portfolio and 80% will be the gold portfolio, according to Sen.
Estimating 20% value growth for the quarter, Sen, however, cautioned that the July-September quarter could be volatile as any sharp swings in gold prices might impact business. “The way gold prices have been moving upwards, it is quite an easy possibility of having a growth of 18%-20%,” Sen was reported as saying. “We are looking at about Rs 7,500 crore in the coming year.” Senco’s consolidated revenue for FY25 stood at Rs 6,328 crore, a 21% rise over Rs 5,241 crore in FY24.
Senco is leveraging its ‘Everlite’ brand for everyday wear and currently sells lab-grown diamonds through its brand Sennes. Sen said that while growth in the LGD segment appears strong due to a low base, it is not yet significant enough to make a major impact on the company’s overall performance. However, the steady rise in demand for natural diamonds is helping boost both that segment and the company’s overall margins.
Senco Gold & Diamonds’ current market capitalization is Rs 5,746 crore. With more than 170 showrooms across 17 States and one in Dubai, the company aims to deepen its national footprint through a mix of company-owned and franchise stores.
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