Titan Q4 Review - Margins Disappoint; Outlook Remains Upbeat: ICICI Direct

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.’s Q4 FY22 earnings was below our/consensus estimates as significant increase in employee and other expenses impacted Ebitda for the quarter. As guided by Titan's management in its pre-quarterly update, jewelry division (excluding gold bullion sale) reported 4% revenue de-growth. During the quarter, it sold gold bullion worth Rs 375 crore, which led jewelry revenues to increase 3% YoY to Rs 6843 crore. Overall revenue grew 4% YoY to Rs 7796 crore.Higher employee and other expenses resulted in Ebitda margins declining by 70 basis points YoY to 10.2%. Ebitda de-grew 3% YoY to Rs 794 crore.Profit after tax de-grew 7% YoY to Rs 528 crore, which was impacted by exceptional expenses like voluntary retirement scheme and ex-gratia (Rs 136 crore)..Click on the attachment to read the full report:.DISCLAIMERThis 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.

Titan Q4 Review - Margins Disappoint; Outlook Remains Upbeat: ICICI Direct

Titan Q4 Review - Margins Disappoint; Outlook Remains Upbeat: ICICI Direct

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