Miss on profitability; sustaining focus on growth

Company
06 May 2024
5 Min read 
  • Titan Company's 4QFY24 results update indicates a buy rating with a target price change of INR4,100 (+16%)
  •  The company posted consolidated sales growth of 21% YoY in 4QFY24, marginally better than estimates
  •  Jewelry sales (ex-bullion) grew 22% YoY, with double-digit growth in the number of buyers
  •  The watch segment grew by only 6% YoY due to pricing cuts taken by the company to remain competitive
  •  The near-term growth outlook appears subdued due to high gold inflation affecting demand sentiments
  •  Despite near-term jitteriness, the company remains aggressive in its growth outlook, driven by new store additions and market share gains.
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