u201cWe estimate its revenue/EBITDA/PAT to grow at a CAGR of 20.4%/28.6%/30.3% over FY22-25. We maintain Buy with a target price of 2,977, said the brokerage firm expecting Titan to maintain a strong foothold in the jewellery segment.
With decades of trust in the market on Titan among Indian consumers, its entry into other segments like eyecare, fragrance, fashion accessories, etc. can work in favour of the company’s revenue generation. The company further diversified its operation in segments like wearables, Indian dress, fragrances, etc. The brokerage firm is optimistic that the firm will continue to get the benefit of good traction in domestic and international markets of the jewellery segment. The company’s strong foothold in the Jewellery and wristwatches category is also accentuated by its high penetration in rural areas as well as in international markets.
Source: The Financial Express
Titan’s Q3 performance
Titan showed a mixed performance in the October-December quarter of FY 2022-23. Its revenue rose by 15.7% YoY and gross profit swelled by 9.2% yoy in the wake of strong demand due to the festive season. The company’s EBITDA margins declined by 6.6% yoy and 276 bps YoY amid lower operational leverage, and high promotional and input cost expenses.
Source: Share Bazaari
Rise in Rekha Jhunjhunwala’s net worth
According to the shareholding data released by the Titan Company in its October-December 2022 quarterly report, Rekha Jhunjhunwala holds 4,58,95,970 Titan shares, which is 5.17 per cent of the total paid-up capital of Titan Company Ltd. The current price of the Titan share is Rs. 2387 on BSE on Wednesday. Notably, Rekha Jhunjhunwala’s wealth increased by Rs. 1,000 crores after Titan’s stock price jumped from Rs. 2,310 to Rs. 2,535 post-Union Budget 2023. Shares of Titan company saw an uptrend after the Budget announcement, becoming a major attraction for stock investors in February.
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