Titan Company Ltd., incorporated in the year 1984, is a Large Cap company (having a market cap of Rs 218404.27 Crore) operating in Gems and Jewellery sector.
Titan Company Ltd. key Products/Revenue Segments include Jewellery, Watches, Gold, Eyewear, Traded Goods, Precious & Semi Precious Stones, Other Operating Revenue, Other Services for the year ending 31-Mar-2021.
Financials
For the quarter ended 30-09-2021, the company reported a Consolidated Total Income of Rs 7548.00 Crore, up 114.49 % from last quarter Total Income of Rs 3519.00 Crore and up 64.05 % from last year same quarter Total Income of Rs 4601.00 Crore. Company reported net profit after tax of Rs 641.00 Crore in latest quarter.
Investment Rationale
Titan’s good Q2 print illustrates the (1) buoyancy in jewellery demand and formalisation underway (expected to further accelerate), (2) improved operating costs structures, (3) accelerated growth in Watches and (4) Eyewear appears to have found the right business model. EBIT print is benefitting from costs rationalisation and operating leverage benefits. The brokerage believes the merits of jewellery hallmarking and the government’s strong intent (on this) are still under- appreciated (by consensus). Expensive valuations may limit near-term upsides though; retain ADD.
Promoter/FII Holdings
Promoters held 52.9 per cent stake in the company as of 30-Sep-2021, while FIIs owned 19.06 per cent, DIIs 10.1 per cent.
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