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Titan: Shiny performance, strong outlook

Titan has strong growth potential across its business verticals, given the higher share of the unorganised segment

October 28, 2021 / 03:43 PM IST
Titan: Shiny performance, strong outlook

Gold jewellery | Representative image

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

Titan (CMP: Rs 2,460; Market Capitalisation: Rs 218,427 crore) posted better- than-expected results, driven by strong margin performance across segments. The company has strong growth potential across its business verticals, given the higher share of the unorganised segment. Key segments of jewellery and eyewear have an unorganised market share of about 70 and 80 percent, respectively. With COVID-19 affecting unorganised players severely and regulatory tailwinds (jewellery hallmarking regulations which require sale of highest purity products) would put organised players in...

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