The first quarter of FY 2018-19 was an extremely good quarter for Titan Company limited. The Company reported a growth of 31.4% in profit before tax (PBT) for the quarter. Read details –

Revenue

The Company’s revenue from operation, standalone basis, grew by 6.67% YOY to INR 4268.56 Cr which was INR 4001.57 Cr for the period ends 30 June 2017.

QoQ revenue soared by 10.32%, the same was INR 3869.33 Cr for the period ends on 31 March, 2018.

Total revenue for the company, on a standalone basis, for quarter ends on 30 June 2018 stood at INR 4354.52 Cr

Company’s total revenue on a consolidated basis stood at INR 4487.16 Cr for the period ends on 30 June 2018.

Division Wise Income

The Jewellery division recorded an income growth of 5.6% in the first quarter. The income from this division in Q1 was INR 3572 Cr as against INR 3381 Cr last year.

The Watches business grew from INR 517 Cr in Q1 last year to INR 594 Cr this year, recording a growth of 14.9%, powered by excellent growth in brand Titan.

The Company’s Eyewear business grew by 16.4% to INR 132 Cr for Q1 this year. The Company’s other businesses comprising accessories, fragrances, and sarees grew by 31.5%, to INR 26 Cr this year.

Profit

Titan Limited reported a profit after tax (PAT) INR 349.17 Cr for the April to June 2018 quarter, which was up by 31% YoY and the same was up by 23.77% when compared to QoQ basis.

Words from Managing Director

Mr. Bhaskar Bhat, Managing Director of the Company stated that This has been a great quarter for the company recording a growth of over 31% in PBT. All our core businesses have shown a healthy growth in profit in addition to market share gains. The modern retail formats for our Watches business have recorded good growth. The jewellery industry went through a soft patch in the first quarter with decline in imports of gold by 39%. Despite the single digit revenue growth of our jewellery business in Q1, the profits grew by a healthy 16%.

The Company has put together plans to stimulate demand for all its product categories through innovative advertising campaigns and new product launches in the coming quarters.

Company Overview – Titan Limited

Titan Company Limited is a joint venture between The Tamil Nadu Industrial Development Corporation (TIDCO) and the Tata Group.

When Titan Limited first entered the watch business in 1987, it dared to be the only watchmaker in the world to be entirely quartz technology driven, this at a time when the Indian watch market was a predominant mechanical watch market. With its focus on pitching watches as a style accessory and its international design language, Titan disrupted the current market to quickly assume a dominant role. Through the years, Titan, has launched exciting products and made a mark for itself with its signature brand campaigns.

Today, with distribution strength of over 451 World of Titan exclusive outlets, 697 service centers, a dealer base of over 11000 and presence in over 30 countries, Titan Company alone holds over 60% of the domestic market share in the organized watch market and is the unchallenged leader.

Stock Price Movement

The stock ended flat to INR 919 when the market closed! During the quarter ended 30 June 2018, the share prices of Titan Limited tumble more than 6%

Titan Limited on Technical Charts

The stock price of Titan Limited is trading more than 4% higher when compared to its 89 EMA and 10% higher when compared to its 200 EMA.

Also Read –

1) Finblab’s Valuepick Stock for the month of July 2018 – CEAT Limited

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