Suvankar Sen, Managing Director & CEO of Senco Gold, recently discussed the evolving landscape of the diamond industry and outlined growth strategies for the company.
Speaking on the company’s performance, Sen highlighted a notable increase in the diamond stud ratio for the previous financial year, reaching approximately 11.8%, up from around 10.8-11% previously. Looking ahead, Sen articulated plans to elevate this ratio to over 15% within the next three to four years, aiming for substantial growth in this segment. He emphasized that the margins in the industry primarily stem from the making charges associated with diamond products.
Sen also underscored the significant market size of the industry, estimated at Rs 7-8 lakh crore in terms of transactional value. This substantial market size accommodates multiple players, indicating ample opportunities for coexistence. Sen noted the entry of the Birla group into the industry as a signal of increasing organization within the sector. He described this development as part of a broader trend witnessed over the past 5-10 years, characterized by a shift from unorganized to organized operations. Sen expressed optimism that such initiatives contribute to a more formal, professional, and organized industry landscape, facilitating knowledge sharing and adoption of best practices among industry participants.
