Page 28 - Bullion World Issue 11 Volume 05 November 2025

Bullion World | Volume 5 | Issue 11 | November 2025
B ullion W orld | V olume 5 | I ssue 11 | N o v ember 2025
Analysis
• The domestic sourcing ratio rose sharply (from 59% in FY23 to 78% in FY25), indicating stronger local
integration and margin preservation amid duty differentials on dore imports.
• This diversification reduces forex risk and supports cost optimization through dore-based refining, which
enjoys 0.65% lower import duties.

Bullion Trading (Augmont SPOT Platform)

Volume of Volume of
Gold sold in Silver sold in
MT MT
61.84 1,035.22
44.04 759.08
48.07 861.93

Analysis
• The Augmont SPOT platform grew 74% YoY in FY25 revenue, driven by increased gold volumes.
• Real-time price discovery technology and AI-powered hedging mechanisms enhance trading precision and
reduce inventory risk exposure

Digital Gold Segment (“Augmont Gold For All”)

Performance Metrics

Fiscal Year Revenue (₹ mn) Transactions Avg. Transaction Value (₹)
FY 2025 11,834.87 35,716,815 331.35
FY 2024 6,389.65 28,479,217 224.36
FY 2023 5,619.57 5,777,767 972.62

Consumer Base
• Served 42 million registered users through alliances with 180+ partners, including Muthoot Fincorp (3,700
outlets), Navi, Gullak, and Candere.
• Analysis
• CAGR (FY23–FY25): 45% in revenue, highlighting accelerating adoption of digital bullion.
• Lower average ticket size in FY24 reflects increasing micro-investments, signalling deeper retail penetration.
• Technology-driven scalability (handled in-house by a 32-member tech team) minimizes incremental cost and
boosts margins per transaction

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