Titan Company Ltd's Q4FY19 consolidated net profit rises 12.2% yoy to Rs354cr : In-line with Estimates

The company’s consolidated revenue stood at Rs4,889cr, up 19% yoy but down 16.7% qoq.

May 08, 2019 01:05 IST India Infoline Research Team

Titan Company Ltd Q4FY19

Consolidated Results Q4FY19: (Rs. in cr)

Q4FY19 YoY (%)
Revenue 4,888.77 19.0
EBITDA 448.50 3.0
EBITDA Margin (%) 9.2 [143]
Net Profit (adjusted) 353.59 12.2
***EBITDA margin change is bps

Titan Company Ltd’s revenue grew by 19% yoy and declined 16.7% qoq to Rs4,889cr. EBITDA came in at Rs449cr, up 3% yoy and down 24.1% qoq. EBITDA margin contracted by 143bps yoy and 89bps qoq to 9.17%. Company’s adjusted Net profit stood at Rs354cr, up 12.2% yoy and down 14.4% qoq. Company’s net profit came in-line with expectation of RsRs365cr.

• Revenue from Jewellery segment (Rs4,105cr) grew by 22.3% on yoy basis. Revenue from watches (Rs513cr) and eyewear (Rs128cr) segments also grew by 7.9% yoy and 17.6% yoy respectively.
• Cost of goods sold stood at 72.1% of revenue vs. 70.6% yoy, impacting the EBITDA margin.
• Other expenses stood at 10% of revenue vs. 10.1% yoy.
• EBIT margin of watches segment stood at 2.3% vs. 3.5% yoy.
• EBIT margin of Jewellery segment stood at 12.2% vs. 12.6% yoy.

Technical View:

Titan Company Ltd ended at Rs. 1,088.35, up by 2.5 points or 0.23% from its previous closing of Rs. 1,085.85 on the BSE.
The scrip opened at Rs. 1,086 and touched a high and low of Rs. 1,097.90 and Rs. 1,069.25 respectively. A total of 34,66,281 (NSE+BSE) shares were traded on the counter. The stock traded above its 50 DMA.

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