Senco Gold's shares surged by 15.58%, reaching a new lifetime peak of ?850 each in early January, 2024 trading. This notable upswing followed the release of the company's Q3FY24 business update post-market hours on Jan 10, garnering positive investor response.

The jewellery retailer reported its highest-ever Q3 revenue, reflecting a consistent growth trend across diverse geographies and channels. In Q3 FY24, the company achieved an impressive 24% YoY revenue growth, extending to a 26% YoY growth in the initial nine months of FY24. Noteworthy metrics included nearly a 40% surge in footfall and a 6% increase in invoices, contributing significantly to overall growth. Despite the prevailing upward trend in gold prices, Senco Gold accomplished remarkable 9% volume growth in gold and an impressive 27% volume growth in diamond jewellery.

A substantial 33% of total sales were attributed to the old gold exchange, with almost 70% of old gold sourced from non-Senco customers, indicating a shift from non-organised to organised markets with Senco as the preferred jeweller.

Same Store Sales Growth (SSSG) played a crucial role, contributing to 17% of the total 24% growth in Q3 FY24, while the 9-month SSSG accounted for 19% of the total 26% YoY growth. Furthermore, the company demonstrated consistent improvement in the stud ratio, with showrooms achieving a stud ratio performance of 13.2%, marking a growth of 190 basis points over the 11.2% recorded in the previous year's 9 months. The blended stud ratio (own showroom and franchisee room) also increased to 11.0%, compared to 9.7% during the same period the previous year.

The remarkable performance led to Senco Gold's shares registering an all-time high on January 11, with the stock surging by 15.6% to reach Rs 850 on NSE and 14.2% to reach Rs 840 on BSE. This upward trajectory extended for the third consecutive trading session.