Jewellery-watch-to-eyewear maker Titan Company on April 29 is expected to report a strong 100 percent year-on-year (YoY) growth in profit and 63 percent growth in revenue for the quarter ended March 2021 backed by jewellery business, and the low base in the year-ago quarter.
According to brokerages, the jewellery business is likely to see more than 40 percent YoY growth on the back of wedding demand and correction in gold prices, while the eyewear segment could see over 20 percent growth YoY in Q4 FY21.
"We expect a 45 percent volume growth in jewellery on back of correction in gold prices, high demand of wedding jewellery and market share gains," said Prabhudas Lilladher which sees a 100 percent YoY growth in profit and 63 per cent in profit for Q4.
"We model 41 percent YoY growth in jewellery segment revenues on a low base. Our growth forecast implies about 19 percent YoY growth in volumes (LFL) and 18 percent increase in realizations (gold price+mix), 6 percent YoY growth in the watches segment revenues, and 23 perccent growth in the eyewear segment on weak base.