Titan shares in focus ahead of Q2 results today
consumer discretionary major Titan will be in focus as the company will announce its quarterly numbers for the July-September 2024 period later today.
The company is expected to see a decline in profitability in the second quarter mainly on account of inventory loss due to customs duty cuts in the reporting period.
Net profit for the quarter is likely to fall up to 27% year-on-year in the July-September 2024 period, according to an average estimate of four brokerages. Meanwhile, net sales are seen rising 3% year-on-year in the same period, the estimates revealed.
Analysts are building in a 25% growth in core Jewellery segment, driven by both volume and price as even after the custom duty reduction, the increase in base gold price was about 28% YoY on an average for the quarter.
«For the jewellery segment margins, we build an 11% margin, given the focus on market share gains. Overall we expect, EBITDA Margins at 11.3% and EBITDA at Rs 1380 crore, up 2% YoY,» said Nuvama.
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