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Senco Gold has addressed investor inquiries regarding its hedging policies and risk management strategies in a recent FAQ. The company maintains a dynamic hedging policy, generally securing between 50% to 80% of its gold inventory exposure, currently estimated at ₹2300 Cr. This proactive approach aims to mitigate price volatility risks associated with gold.
Key insights reveal that while the company hedges extensively, fluctuations in gross and EBITDA margins are expected due to external variables such as sales volume and product mix. Senco anticipates adjusted gross margins of 14%-15% and EBITDA margins of 7%-8% for the fourth quarter, with a full-year outlook for FY25 around 6.5%-6.8%. Factors influencing these metrics include competitive intensity and the strategic location of operations, which are poised to enhance operational leverage and financial performance in the mid to long term. Investors should monitor these developments closely for potential impacts on profitability.