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Buy Titan Company; target of Rs 1130: Motilal Oswal

Motilal Oswal is bullish on Titan Company has recommended buy rating on the stock with a target price of Rs 1130 in its research report dated 03 Aug 2018.

September 18, 2018 / 04:47 PM IST
  • bselive
  • nselive
Todays L/H

Motilal Oswal's research report on Titan Company

EBITDA grew 32.3% YoY to INR4.8b (est. of INR4.3b) and recurring PAT increased 31.9% YoY to INR3.3b (est. of INR3.0b). Consol. segmental performance: (a) Reported Jewelry sales rose 6.3% YoY to INR36.4b, with segment margin up 110bp YoY to 10.5%. (b) Watches sales grew 15% YoY to INR6b, with a sharp EBIT margin improvement of 900bp to 16.7%.


High valuations are fully deserved for a business that has perhaps the best top-line growth potential in the large cap FMCG/retail space and also has improving outlook on margins. Maintain Buy with an unchanged target price of INR1,130 based on 52x Jun'20E EPS (25% premium to three-year average P/E).

For all recommendations report, click here

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on are their own, and not that of the website or its management. advises users to check with certified experts before taking any investment decisions.

Broker Research
first published: Aug 7, 2018 06:00 pm

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