Titan Company recorded revenue growth of ~117% in Q1`22 by Mr. Amarjeet Maurya, Angel Broking Ltd
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Below are Quote on Titan Company recorded revenue growth of ~117% in Q1`22 by Mr. Amarjeet Maurya - AVP - Mid Caps, Angel Broking Ltd
Titan Company (TCL) recorded revenue growth of ~117% (excluding bullion sales) in Q1’22, with revenue contribution of approx. 50%, 10% and 40% coming from April, May and June months respectively. Currently,the company’s ~90% of stores are opened in the jewellery segment. Other businesses are also showing recovery. TCL is targeting to gain market share in the Jewellery segment due to strong focus on wedding segment, huge scope for store expansion (40-50 stores every year), and gold harvest & gold exchange schemes. Further, the shift from unorganized (currently 70%) to organized (currently 30%) in the Jewellery segment will benefit branded players like Titan due to strong brand positioning and superior quality. Thus, we are positive on stock.
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