Titan Q2 Review - Strong Margins Retain Shine: Dolat Capital
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.
Click on the attachment to read the full report:
This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.