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Last Updated : Jun 15, 2020 12:32 PM IST | Source: Moneycontrol.com

Buy Titan Company; target of Rs 1293: Dolat Capital

Dolat Capital is bullish on Titan Company has recommended buy rating on the stock with a target price of Rs 1293 in its research report dated June 09, 2020.

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Dolat Capital's research report on Titan Company


Titan's Q4FY20 revenue was in line, but operational performance was better than our estimates. The company was able to report ~16.5% growth in Jewellery business during January and February, however, lockdown in March resulted in revenue decline. Nevertheless, with efficient cost management, the company was able to post strong operational performance and margin expansion. Watches and Eyewear segments were impacted mainly due to lockdown, but margin expansion in watch division was encouraging.



Outlook


We have broadly revised our FY21E at Rs 19.8 and maintained our FY22E EPS estimates Rs 26.9. We Upgrade to Buy, with TP of Rs 1,293 (48x FY22E).




For all recommendations report, click here


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First Published on Jun 15, 2020 12:32 pm
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