Titan Q1 Preview: Strong growth across business segments to lift PAT by 17% YoY

economictimes.indiatimes.com:

Titan Company for the quarter ended June 2023. In its quarterly update last month, the company said it saw a 20% year-on-year (YoY) revenue growth in the quarter, with the mainstay jewellery segment witnessing a 21% growth. “Buyer growth was higher than average ticket size growth for this period.

Despite significant volatility in gold prices throughout the quarter, Akshaya Tritiya sales in April and wedding purchases in June were robust,” the company said. The consolidated net profit for the quarter is estimated to grow 17% on year to Rs 915 crore, according to the average of estimates given by nine brokerages. Consolidated revenue is estimated to be Rs 10,386 crore, registering a 16% growth from the year-ago period.

The Tata Group company is slated to release its quarterly earnings on Wednesday. Here is a summary of analysts’ earnings expectations from the company:BNP ParibasThe brokerage Expect an EBITDA margin of 12.7% versus 13% in 1QFY23. The company reported sales growth of 13% YoY in the watches and wearables division, while eyewear revenue grew 10% YoY.

The network expansion continued to progress well, with 126 net store additions during the quarter. There was no notable change in the overall product mix.JM Financial The domestic brokerage expects strong sales growth despite a tougher base. Forecast both jewellery and watches margins to be 14% vs 13% last year, which would drive earnings growth of 28%.