S Subramanian, Chief Financial Officer, Titan, says the capex in the joint venture will not be high enough to impact earnings in the short term
In an interview to CNBC-TV18, S Subramanian, MD & Head-Investment Banking of Axis Capital spoke about the latest happenings in the primary market.
Personal care and beauty services provider Marico Kaya Enterprises on Friday said its net profit skyrocketed by 800 percent to Rs 12.1 crore at the end of current fiscal's third quarter ending December 31, 2014, against Rs 1.5 crore in the same period last year.
The sales of the company are expected to return to normalcy post Q2 FY15.
S Subramanian, CFO, Titan said the company has gained immensely from Golden Harvest — the 11+1 scheme — which will pave way for a bumper Q2. The company is now is planning to come out with another scheme in the next quarter that complies with the New Companies Act.
The Reserve Bank of India (RBI) has given approval to Titan for hedging of gold on international exchanges.
Raising money won't be a problem for Titan Industries because of its strong balance sheet, but interest fee will go up because everyone will now have to pay upfront for gold. Jewellery EBIT margins is not expected to be hit much as Titan is looking to hedge since it is selling gold forward
Titan Industries' volumes in the watch business rose a weak 4 percent in Oct-Dec and growth in the fourth quarter could be similar, CFO S Subramanian, said on Thursday.
In an interview to CNBC-TV18, S Subramanian, CFO, Titan spoke about the growth of the company during the festive season and how consumer tastes and trends are panning out.
In an interview to CNBC-TV18, S Subramanian, chief financial officer, Titan says he expects the second half to be better than the first half.
Eyeing a 25-30% top-line and bottom-line growth in FY13, Titan Industries is looking to take the jewellery business to the next level.
Experts debate if the customs duty hike on imported gold, announced in the Budget, will affect demand for the precious metal.