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:
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.