BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.
Dolat Capital Report
Titan Company Ltd.’s Q1 FY22 operational performance was below our estimate as we anticipated better operational efficiency during the quarter.
As ~90% of the markets are now open, we expect improvement in sales growth going ahead.
Higher growth in the jewellery segment would be driven by-
pent up demand as stores were operational for very limited time/closed during Q1 FY22 ;
buying ahead of festive season.
Though Titan's studded jewellery contribution improved at 22% versus 18% in Q1 FY21, it remained low compared to Q1 FY20 (25%).
Marketing activities and opening up of markets are expected to drive studded growth in the coming quarters.
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