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Titan: Recovery in sight in all segments

Cost-saving steps to support earnings for Titan; jewellery segment likely to revive by March 2021

October 29, 2020 / 10:54 AM IST
Titan: Recovery in sight in all segments

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

 The September quarter results of Titan (CMP: Rs 1,218, Market capitalisation: Rs 1,08,124 crore) were marginally below Street expectations. The company registered an 89 per cent recovery rate year on year (YoY) in revenues, led by a sharp recovery in the jewellery division that constitutes around 80 per cent of total sales. With the easing of lockdown curbs in most parts of the country, Titan was able to operate most of its stores across all its divisions and customer...

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