10 per cent dividend declared: Stellar Q4FY24 results PAT grew by 23.6 per cent YoY to Rs 32.17 crore!

The company has maintained its inventory turnover at an industry-best standard of 2.41x, equivalent to approximately 151 inventory days.

Today, the shares of Senco Gold Limited plunged by 3.39 per cent. The company's current market capitalization standing at Rs 6,667.02 crore.

Stock performance:

On Friday, the stock opened at Rs 893.90, with the previous closing being Rs 888.10. The 52-week high and low are Rs 1,065.65 and Rs 358.25, respectively as per BSE.

Recent Development – Financial Highlights:

In Q4 FY24, Senco Gold Limited reported consolidated revenue from operations of Rs 1,137.28 crore, a 39.7 per cent increase from Rs 813.93 crore in Q4 FY23. For the full fiscal year FY24, revenue reached Rs 5,241.44 crore, up 28.5 per cent from Rs 4,077.4 crore in FY23. EBITDA for Q4 FY24 was Rs 87.72 crore, showing a 31.5 per cent growth from Rs 66.72 crore in Q4 FY23, and for the full year, EBITDA increased by 18.6 per cent to Rs 375.51 crore from Rs 316.62 crore in FY23. Furthermore, the net profit for Q4 FY24 was Rs 32.17 crore, a 23.6 per cent rise from Rs 26.03 crore in Q4 FY23, and for the full year, PAT grew by 14.2 per cent to Rs 181.01 crore from Rs 158.48 crore in FY23.

A good news for sharesholds as the Board has recommended a final dividend of Re 1 (i.e., 10 per cent) per  share with a face value of Rs 10 per share for the financial year 2023-24.

Other developments:

• The inventory value for Senco Gold Limited increased from Rs 1,885.46 crore to Rs 2,457.02 crore, primarily due to inventory for new stores, higher stock of diamond jewellery, elevated inventory levels for Akshaya Tritiya, and the impact of the gold price rise.
• The company has maintained its inventory turnover at an industry-best standard of 2.41x, equivalent to approximately 151 inventory days.
• Working capital borrowing rose from Rs 1,179.27 crore to Rs 1,498.34 crore. However, Senco Gold has improved its debt-equity ratio to 1.10x and enhanced its TOL/TNW (Total Outside Liabilities to Tangible Net Worth) to 1.44x.
• The net debt to equity ratio has improved from 0.80x to 0.71x.

About the Company:

Incorporated in 1994, Senco Gold Limited is a Pan-India jewellery retailer and the largest organized jewelry retail player in the Eastern region of India based on the number of stores.

The product-wise break-up shows that gold jewellery accounts for 89.69 per cent, diamond and stones for 6.77 per cent, platinum jewellery for 2.04 per cent, silver jewellery for 0.96 per cent, and other products for 0.54 per cent.

In terms of location-wise distribution, 98.29 per cent of the value comes from India, while other locations contribute 1.71 per cent.

Furthermore, the stock has experienced significant buying activity, yielding returns of more than 18 per cent in the last 6 months.

Disclaimer: The article is for informational purposes only and not investment advice.