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Ideas for Profit | Titan Q1 – Steady show amid headwinds

August 07, 2019 / 03:23 PM IST
Ideas for Profit | Titan Q1 – Steady show amid headwinds

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

In the quarter gone by, Titan reported top-line growth across all segments. However, its overall margins were flat. Network expansion through new ‘Tanishq’ stores, an improved jewellery mix, product innovations across all segments and gradual scale up of lifestyle verticals (perfumes, sarees) are the positives that work in favour of the company. As on 30th June 2019, Titan’s 1,700 exclusive stores, located in 284 Indian cities and towns, cover approximately 2.1 million square feet of retail area. (image) Q1 FY20 analysis Positives - Same-store sales...

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