Senco Gold Limited has announced the extension of its strategic and marketing partnership with August Jewellery Private Limited, which operates under the omnichannel brand "Melorra". The extension, communicated to stock exchanges on 31st March, 2026, maintains the collaborative framework between the traditional jewellery retailer and the contemporary digital-first brand.

Partnership Extension Details

The strategic and marketing tie-up, which was originally scheduled to conclude on 31st March, 2026, has been extended for an additional three months until 30th June, 2026. The extension maintains all existing terms and conditions as outlined in the company's previous communications to stakeholders.

Regulatory Compliance and Documentation

Senco Gold Limited has fulfilled its disclosure obligations under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company had previously informed stakeholders about this partnership through multiple communications:

• Initial agreement notification: 24th April, 2025
• Subsequent updates: 27th September, 2025 and 29th December, 2025
• Extension notification: 31st March, 2026

The company has confirmed that this arrangement involves operational transactions and does not constitute an acquisition. Additionally, the transactions under this partnership do not fall under related party transaction categories, ensuring compliance with regulatory frameworks.

Strategic Implications

The partnership extension reflects the continued collaboration between Senco Gold's established retail presence and Melorra's digital-native approach to jewellery retail. The arrangement covers domestic market operations, with both entities maintaining their independent operational structures while leveraging synergies in marketing and strategic initiatives.

The extension allows both companies to continue their collaborative efforts in the competitive Indian jewellery market, where traditional retail models are increasingly integrating with digital-first approaches to reach diverse customer segments.

Senco Gold Limited has received comprehensive credit ratings from CARE Edge Ratings for its various financial facilities and instruments totaling ₹3000 crore. The rating agency communicated its assessment through letters dated March 24, 2026, covering multiple banking facilities and a Fixed Deposit programme.

Credit Rating Overview

CARE Edge Ratings has assigned and reaffirmed ratings across different categories of financial facilities for the jewelry retailer. The ratings demonstrate the company's financial stability and creditworthiness across various instruments with different tenures and purposes.

Fixed Deposit Programme Details

The Fixed Deposit programme worth ₹495 crore has been assigned a CARE A+ rating with stable outlook. This programme is designed with tenure ranging from 6 months to 18 months, providing the company with a structured approach to raise funds from depositors. The rating agency has specified that the rating needs revalidation if the proposed issue is not made within six months from March 24, 2026.

Banking Facilities Breakdown

The Long Term Bank Facilities of ₹2232.50 crore represent the largest component of the rated facilities, receiving CARE A+ with stable outlook. These facilities are distributed across multiple banking partners including State Bank of India, ICICI Bank, HDFC Bank, Axis Bank, and several other public and private sector banks. A significant portion of ₹647.10 crore remains proposed and yet to be sanctioned.

Banking Partner Network

The company maintains banking relationships with a diverse portfolio of financial institutions. Major banking partners include State Bank of India (₹60 crore), Kotak Mahindra Bank (₹200 crore), Axis Bank (₹190 crore), Federal Bank (₹187.50 crore), and Bandhan Bank (₹150 crore). The Long Term/Short Term facilities are distributed among Qatar National Bank, Yes Bank, IDFC First Bank, DCB Bank, and Federal Bank.

Rating Implications

The CARE A+ rating indicates high degree of safety regarding timely servicing of financial obligations, with very low credit risk. The stable outlook suggests that the rating is unlikely to change in the near term. CARE Edge Ratings has based its assessment on the company's operational and financial performance for FY25 (Audited) and Q1FY26 (Unaudited), though specific financial metrics were not disclosed in the rating communication.

The rating agency reserves the right to undertake surveillance and review of the ratings from time to time, with at least one review annually. The ratings are subject to continuous monitoring based on the company's performance and any material developments that may impact its creditworthiness.

Source: None/Company/INE602W01027/cbdb8e25-cd7a-4921-86b4-cfb74baeb6f6.pdf