Titan Firm Ltd will likely be reporting March quarter outcomes on 3 Might and is anticipated to report wholesome numbers for the quarter ended March, led by wholesome double-digit progress throughout all of its key companies. The March quarter noticed sturdy present from watches and wearables and rising enterprise segments.
Titan is anticipated to report report revenue progress anyplace between 29 and 33 per cent year-on-year, whereas the income is anticipated to develop by 25-29 per cent based on brokerages.
In March quarter, Titan Firm stated it has recorded wholesome double-digit progress throughout all of its key companies. The revenues of Titan grew by 25 per cent year-on-year aided by larger progress contributions from watches & wearables and rising companies.
The jewelry enterprise grew 23 % on-year, with 31 new shops being added in the course of the quarter, whereas in its ‘rising companies’ class grew by 84 per cent YoY. The rising companies consists of perfume and vogue equipment, and Indian costume put on bought underneath ‘Taneira’ model.
The watches and wearables division grew by 41 per cent YoY progress which was underpinned by sturdy progress in analog watches section and nearly tripling of revenues from wearables. The corporate had 2,710 shops on the finish of the fourth quarter.
“We mannequin 15% YoY progress in standalone jewelry gross sales on LFL foundation (excluding sale of gold bullion). We collect that the quarter began on a powerful word (favorable base) however demand moderated a bit within the month of March,” Kotak Institutional Equities stated.
ICICI Direct is view of that Titan’s has been a secular progress story with constant market share beneficial properties from unorganised gamers. “Regardless of a pointy surge in gold costs in the course of the quarter, Titan’s jewelry area recorded wholesome progress of 23 per cent (YoY) in Q4FY23. Development was additionally aided by {a partially} disrupted base quarter,” the brokerage stated in a analysis report.
“We count on consolidated income to y-o-y, led by wedding ceremony demand and powerful retailer enlargement. The jewelry enterprise is anticipated to develop by 25% y-o-y, watches and wearables enterprise is anticipated to develop by 41% y-oy, whereas the rising enterprise is anticipated to develop by 80%+. EBITDA Margin EBITDA margin is anticipated to be larger by 77 bps y-o-y, aided by higher working efficiencies. Adjusted PAT In step with double-digit income progress coupled with margin enlargement, PAT is anticipated to develop by 29% y-o-y,” stated ShareKhan in its report.
Titan Firm Ltd reported double digit income progress in the course of the December quarter, pushed by wholesome client demand in the course of the festive season. The corporate reported a standalone web revenue of ₹951 crore for third quarter, which is a decline of three.7% over earlier yr interval of ₹987 crore.
On Tuesday, the corporate’s scrip ended 0.84 per cent larger at ₹2,662.50 on BSE.
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