Titan shares jump over 6% as revenue rises 25% YoY in Q4 business update

Titan's eyecare segment recorded a 19 percent rise, supported by healthy contributions in both revenue and customer base. Meanwhile, the watches and wearables division reported a 22 percent increase in revenue.

Other businesses under the Titan umbrella—which include fragrances and fashion accessories—grew by 26 percent year-on-year. This was primarily driven by a 12 percent increase in the fashion accessories category.

On the flip side, sales of its ethnic wear brand Taneira dipped by 4 percent. During the quarter, the company launched the first experiential store for its fragrance brand 'SKINN' at Seawoods, Mumbai. Its premium handbag brand 'IRTH' expanded with four new store openings in Hyderabad, Pune, Noida, and Mumbai. Taneira, however, shut down one store in the same period.

Titan’s digital-first jewellery brand Caratlane posted a 22 percent year-on-year growth, boosted by strong consumer interest in gold jewellery and a robust performance in its studded collection. The number of buyers grew in the mid-single digits, while like-to-like growth stood at 11 percent. During the quarter, Caratlane added 17 new domestic stores on a net basis.

At present, around 35 brokerages are tracking Titan. Of these, 21 have issued a “buy” rating, 10 have recommended a “hold,” and 4 have suggested a “sell.”

So far this year, shares of Titan have slipped by 7 percent. This decline is slightly steeper than the 6 percent fall registered by the benchmark Nifty 50 index over the same period.

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