Titan Q4 Review - Lockdown To Play Spoilsport In The Near Term: Dolat Capital
Gold bangles sit on display inside a Titan Co. Tanishq jewelry store in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

Titan Q4 Review - Lockdown To Play Spoilsport In The Near Term: 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 Q4 FY21 revenues were in line but Ebitda and adjusted profit after tax missed our estimate.

Strong wedding season aided jewellery demand. Further, correction in gold prices resulted in preponement of consumer buying gold jewellery.

However, lower contribution of studded jewellery (30% versus 37% in Q4 FY20) and higher contribution of coins (5% versus 3% in Q4 FY20) impacted segmental and company margin during the quarter.

Moreover, lockdown is expected to impact sales significantly in the ensuing quarters.

The company temporarily shut half of the stores as of April 2021 end and may shut more subsequently for safety concerns.

Click on the attachment to read the full report:

Dolat Capital Titan Company Q4FY21 Result Update.pdf

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