Titan’s Strong Momentum To Continue Post Q3: Dolat Capital
An employee holds a 50-gram gold coin for a photograph inside a Titan Co. Tanishq jewelry store in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

Titan’s Strong Momentum To Continue Post Q3: 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’s Q3FY21 revenue were in line but Ebitda and adjusted profit after tax exceed our estimate.

Postponement of festive season to Q3 and strong wedding season resulted in increase in jewellery demand. Pent up demand due to postponement of weddings is expected to continue in Q4 FY21E.

Watches and eyewear business reported strong recovery at Ebit level, was a positive surprise.

Cost rationalisation efforts helped the segmental Ebit to increase.

In January 2021, the company saw 28% retail growth in jewellery. Wedding jewellery grew by 10% in Q3 FY21 and climbed 16% in Jan-21.

Click on the attachment to read the full report:

Dolat Capital Titan Company Q3FY21 Result Update.pdf

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