Titan Company - Growth Trajectory Accelerates Significantly In Q4: ICICI Direct
Gold coins and bars sit on a tray inside a Titan Co. Tanishq jewelry store during the festival of Dhanteras in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

Titan Company - Growth Trajectory Accelerates Significantly In Q4: ICICI Direct

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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.

ICICI DIrect Report

Titan Company Ltd. published its Q4 FY21 business update wherein headline numbers were significantly ahead of consensus estimates.

Key takeaways:

  1. Increase in market share in southern region (Tamil Nadu), which has traditionally been a stronghold of regional jewellers.
  2. Robust growth of ~70% in Q4 FY21 (supported by favourable base and large business-to-business orders for gold coins).
  3. Demand for wedding jewellery witnessed healthy offtake with overall share increasing in the pie.
  4. Robust growth witnessed in both metro and non-metro cities.
  5. Watches division reported flattish sales while eyewear division registered 20% revenue growth.

Robust performance in challenging times reaffirms our thesis of long term market share gains for Titan.

Click on the attachment to read the full report:

ICICI Direct Titan Company Update.pdf

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