Titan Company falls despite reporting 25% standalone revenue growth in Q2FY25
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Titan Company is currently trading at Rs. 3589.90, down by 73.30 points or 2.00% from its previous closing of Rs. 3663.20 on the BSE.
The scrip opened at Rs. 3750.00 and has touched a high and low of Rs. 3750.00 and Rs. 3555.00 respectively. So far 63418 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 3885.00 on 30-Jan-2024 and a 52 week low of Rs. 3059.00 on 04-Jun-2024.
Last one week high and low of the scrip stood at Rs. 3866.15 and Rs. 3555.00 respectively. The current market cap of the company is Rs. 317885.15 crore.
The promoters holding in the company stood at 52.90%, while Institutions and Non-Institutions held 29.07% and 18.03% respectively.
Titan Company has clocked a standalone revenue growth of c.25% Year-on-Year (Y-O-Y) in Q2FY25. A total of 75 stores (net) were added during the quarter expanding Titan's combined retail network presence to 3,171 stores.
Its jewellery domestic operations grew c.25% YoY in Q2 after a relatively soft Q1. Consumer demand significantly picked up momentum after the reduction in custom duty on gold imports from 15% to 6% leading to a strong double-digit uptick in gold (plain) for the quarter.
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.
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.
Titan Company is an Indian designer and manufacturer of watches, jewellery, precision engineering components and other accessories including sunglasses, wallets, bags and belts.
