Stock Report

Titan Company Ltd - Quarterly Update: Q2FY25

Posted On : 2024-10-04 23:05:33( TIMEZONE : IST )

The Company (standalone) registered a growth of c.25% YoY in O2FY25. A total of 75 stores (net) were added during the quarter expanding Titan's combined retail network presence to 3,171 stores.

Jewellery domestic operations grew c.25% YoY in 02 after a relatively soft 01. Consumer demand significantly picked up momentum after the reduction in custom duty on gold imports from 15% to 6% leading to a strong doubledigit uptick in gold (plain) for the quarter. The non-solitaire studded segment recorded growth in high double-digits whereas the solitaire segment saw a decline amidst price uncertainty and demand supply dynamics in the international markets, both together resulting in overall studded sales growth in low double-digits for the quarter. The launch of new collections, promotions and various marketing campaigns spurred buyer growth at c.11% YoY. The like-to-like (secondary) sales growths for the domestic operations came in mid-teens. Mia added a new store in Abu Dhabi during the quarter. Of the 23 new store additions (net) in India, 11 stores were in Tanishq, 11 in Mia and 1 in Zaya respectively.

Watches & Wearables domestic business grew c.19% YoY. Revenue growth in Analog was around 25% YoY well supported by both volume and value growths. Premiumization theme continued to be a major driver across brands. Wearables witnessed a revenue decline in low double-digits in a category that is continuing to see significant decline. The Division added 34 new stores (net) in the quarter consisting of 18 stores in Titan World, 14 in Helios and 2 in Fastrack respectively.

EyeCare's domestic business grew c.6% YoY. The secondary sales growths were nearly similar with buyer growths growing marginally higher YoY. Titan Eye+ added 2 new stores (net) in India during the quarter.

In Emerging Businesses, Taneira's Revenue grew c.11% YoY. The brand opened 4 new stores during the quarter, two of them in the new cities of Indore and Prayagraj. The Fragrances & Fashion Accessories Revenue grew c.17% YoY. Within businesses, Fragrances grew by c.19% YoY and Fashion Accessories grew c.11% YoY.

Caratlane's business clocked c.28% YoY growth aided by activations and healthy growth in brand searches. Buyers grew c.24% YoY and the like-to-like (secondary) growths were c.21% YoY; Studded ratio was higher compared to O2FY24. Business added 11 new domestic stores (net) in the quarter expanding its networkpresence to 286 stores pan-India.

The above information for the quarler ending 30th September 2024 is provisional and subject to Limited Review by Statutory Auditors of the Company.

Shares of Titan Company Limited was last trading in BSE at Rs. 3663.20 as compared to the previous close of Rs. 3677.05. The total number of shares traded during the day was 158441 in over 16197 trades.

The stock hit an intraday high of Rs. 3753.00 and intraday low of 3641.00. The net turnover during the day was Rs. 585389320.00.