iifl-logo

Invest wise with Expert advice

By continuing, I accept the T&C and agree to receive communication on Whatsapp

sidebar image

Q3FY24 Preview: Titan Company: Revenue seen at ₹133,878 Million, PAT at ₹10,665 Million

30 Jan 2024 , 10:52 AM

Result date: February 1, 2024

Recommendation: Add

Target price: ₹3,700 

Titan Company (Titan) continued its strong performance in the December quarter, led by 23% (ex- bullion) year-on-year growth in the Jewelry segment. Growth was led by 21% growth in domestic business amid double-digit growth in buyers and some improvement in selling price. Growth in plain gold and coins in the festive quarter exceeded the studded sales growth, driven by higher consumer interest in gold despite the elevated prices and volatility. The company could post revenue growth of 22% over the year-ago quarter, believe analysts at IIFL Capital Services.

Titan’s Jewelry business’ EBIT margin could marginally contract by 10 basis points relative to the year-ago quarter to 12.5%. Watches division’s sales growth came in at 21% with EBIT margin expected at 12.5% — up 153 basis points over the year-ago quarter. Sales of the Eyewear division declined 3% on a year-on-year basis. This division’s EBIT margin is expected to contract by 340 basis points year-on-year to 15%.

The company’s Profit After Tax or PAT could grow 12% relative to the year-ago quarter.

Important management insights to watch out for:

  • Demand trends across divisions, markets
  • Margin drivers going forward
₹ Million

December 2023 estimates

YoY change

Revenue

133,878

22.1%

EBITDA

15,808

18.9%

Profit After Tax

10,665

12.1%

Source: IIFL Research

Related Tags

  • Titan
  • Titan Company
  • Titan Company Q3
  • Titan Q3
sidebar mobile

BLOGS AND PERSONAL FINANCE

Read More
Knowledge Center
Logo

Logo IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000

Logo IIFL Capital Services Support WhatsApp Number
+91 9892691696

Download The App Now

appapp
Loading...

Follow us on

facebooktwitterrssyoutubeinstagramlinkedintelegram

2025, IIFL Capital Services Ltd. All Rights Reserved

ATTENTION INVESTORS

RISK DISCLOSURE ON DERIVATIVES

Copyright © IIFL Capital Services Limited (Formerly known as IIFL Securities Ltd). All rights Reserved.

IIFL Capital Services Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
ARN NO : 47791 (AMFI Registered Mutual Fund Distributor)

ISO certification icon
We are ISO 27001:2013 Certified.

This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.