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Home/ Companies / News/  Titan Q4 preview: PAT may rise up to 29-33% on
broad-based growth across segment
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TITAN Q4 PREVIEW: PAT MAY RISE UP TO 29-33% ON BROAD-BASED GROWTH ACROSS SEGMENT

2 min read . Updated: 02 May 2023, 09:01 PM IST Jyoti Banthia Premium Titan’s
shares are down 5% so far this calendar year and are nearly 14% lower than their
52-week high of ₹2,768 seen on 21 March on the NSE  (Photo: Mint)


TITAN'S MARCH QUARTER SAW STRONG SHOW FROM WATCHES AND WEARABLES AND EMERGING
BUSINESS SEGMENTS.

Read Full Story


Titan Company Ltd will be reporting March quarter results on 3 May and is
expected to report healthy numbers for the quarter ended March, led by healthy
double-digit growth across all of its key businesses. The March quarter saw
strong show from watches and wearables and emerging business segments.



Titan is expected to report report profit growth anywhere between 29 and 33 per
cent year-on-year, while the revenue is expected to grow by 25-29 per cent
according to brokerages.



In March quarter, Titan Company said it has recorded healthy double-digit growth
across all of its key businesses. The revenues of Titan grew by 25 per cent
year-on-year aided by higher growth contributions from watches & wearables and
emerging businesses.



The jewellery business grew 23 percent on-year, with 31 new stores being added
during the quarter, while in its 'emerging businesses' category grew by 84 per
cent YoY. The emerging businesses includes fragrance and fashion accessories,
and Indian dress wear sold under 'Taneira' brand.

The watches and wearables division grew by 41 per cent YoY growth which was
underpinned by strong growth in analog watches segment and almost tripling of
revenues from wearables. The company had 2,710 stores at the end of the fourth
quarter.

“We model 15% YoY growth in standalone jewellery sales on LFL basis (excluding
sale of gold bullion). We gather that the quarter started on a strong note
(favorable base) but demand moderated a bit in the month of March," Kotak
Institutional Equities said.

ICICI Direct is view of that Titan’s has been a secular growth story with
consistent market share gains from unorganised players. “Despite a sharp surge
in gold prices during the quarter, Titan's jewellery space recorded healthy
growth of 23 per cent (YoY) in Q4FY23. Growth was also aided by a partially
disrupted base quarter," the brokerage said in a research report.

“We expect consolidated revenue to  y-o-y, led by wedding demand and strong
store expansion. The jewellery business is expected to grow by 25% y-o-y,
watches and wearables business is expected to grow by 41% y-oy, while the
emerging business is expected to grow by 80%+. EBITDA Margin EBITDA margin is
expected to be higher by 77 bps y-o-y, aided by better operating efficiencies.
Adjusted PAT In line with double-digit revenue growth coupled with margin
expansion, PAT is expected to grow by 29% y-o-y," said ShareKhan in its report.

Titan Company Ltd reported double digit revenue growth during the December
quarter, driven by healthy consumer demand during the festive season. The
company reported a standalone net profit of ₹951 crore for third quarter, which
is a decline of 3.7% over previous year period of ₹987 crore.

On Tuesday,  the company's scrip ended 0.84 per cent higher at ₹2,662.50 on BSE.

 

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App to get Daily Market Updates & Live Business News.
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