Fourth quarter performance will be impacted by industry strike and also by the move to make PAN cards mandatory on all jewellery transactions of Rs 2 lakh and above, says S Subramaniam, CFO of Titan
The scrapping of export rule is very positive for the industry and would now reduce the arbitrage opportunity for smugglers, says R S Subramaniam, CFO, Titan.
Bhaskar Bhat, MD, said that while the onus of exporting gold lies on bullion bankers from whom it buys gold, Titan too is exploring export opportunities now.
The import of gold during the first quarter of the year is set to fall with jewellers continuing with their strike demanding rollback of excise duty proposed in the Budget.
Bhaskar Bhat, managing director of Titan, in an interview to CNBC-TV18, speaks about the kind of impact high gold prices are creating on his business. However, he is confident of achieving 30% topline and bottomline growth despite seeing mounting gold prices hitting the company’s production volumes.
The middle-class sentiment has witnessed weak consumer sentiment this time, said managing director, Bhaskar Bhat. In an interview to CNBC-TV18, he said there was a sluggish demand in the watches segment.