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Senco Gold hosted a conference call on Nov 14, 2024. In the conference call, the company was represented by- Suvankar Sen, Managing Director and Chief Executive Officer and Sanjay Banka, Chief Financial Officer.

Key takeaways of the call

Gold prices continue to move up driven by central bank buying, fed rate cut, global war and uncertainty. In Q2 FY25, Gold price rise 5% QoQ and 31% YoY. Silver price rise 3% QoQ and 30% YoY.

Retail growth was robust at 27% YoY in Q2 FY25 and 19% YoY in H1 FY25.

The company reported 8% volume growth in Q2 FY25 even as the gold prices increase.

The custom duty cut affected the EBITDA margin in Q2 FY25. The remaining cost impact is Rs 30 crore, after which the overall margin is expected to improve.

Management explained that margins are expected to improve in H2 due to higher sales during the wedding season, a...

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