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 Q2 FY22 revenue was in-line, operational performance was ahead of our estimate. All divisions witnessed healthy growth in Q2.
As the markets have re-opened, we expect improvement in sales growth going ahead. Higher growth in the jewellery segment would be driven by
1. pent up demand and
2. buying ahead of festive season.
Though studded jewellery contribution improved to 30% in Q2 FY22, significant improvement from 22%/26% in Q1 FY22/Q2 FY21 respectively.
Marketing activities, wedding and festive sales are expected to drive studded growth in the coming quarters. Coin sales contribution normalised to 5% from double digits last year.
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