Titan Company rises on reporting 24% standalone business growth in Q3FY25

Titan Company is currently trading at Rs. 3514.75, up by 65.55 points or 1.90% from its previous closing of Rs. 3449.20 on the BSE.

The scrip opened at Rs. 3460.25 and has touched a high and low of Rs. 3527.20 and Rs. 3460.25 respectively. So far 22217 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 1 has touched a 52 week high of Rs. 3885.00 on 30-Jan-2024 and a 52 week low of Rs. 3059.00 on 04-Jun-2024.

Last one week high and low of the scrip stood at Rs. 3527.20 and Rs. 3230.05 respectively. The current market cap of the company is Rs. 311395.43 crore.

The promoters holding in the company stood at 52.90%, while Institutions and Non-Institutions held 29.68% and 17.42% respectively.

Titan Company registered a growth of c.24% Year-on-Year (Y-O-Y) in standalone business in Q3FY25. Titan’s combined retail network presence (including CaratLane and International) expanded by 69 stores (net) in the quarter to reach 3,240 stores. 

Its Jewellery (domestic) business grew c.25% YoY in Q3FY25 buoyed by strong festive demand. Robust consumer traction during ‘Diwali’ translated into high single-digit buyer growth along with double-digit ticket size growth. Gold (plain) exhibited particularly strong momentum growing c. 24% YoY benefiting from increased gold prices, festive and wedding purchases.

Watches & Wearables (domestic) business grew c.13% YoY in Q3FY25. Analog watches maintained its FY25 growth momentum and clocked a robust c.19% YoY growth, driven by festive demand and well supported by healthy premiumization trends.

EyeCare (domestic) clocked a healthy growth of c.17% YoY in Q3FY25 led by Retail and E-commerce, both on Revenue and Buyers. International brands and affordable fashion contributed well to the overall product mix. Titan Eye+ closed 3 stores (net) in India during the quarter.

In Emerging Businesses, Fragrances clocked a healthy growth of c.27%, Fashion accessories was lower by c.20% and Taneira was flat YoY, respectively. ‘IRTH’ opened its first women bags outlet in Phoenix Palladium, Mumbai and a store in Chennai. Taneira added 1 store in the city of Salem during the quarter.

Caratlane grew c.25% YoY driven by a strong c.26% YoY in December quarter growth in the studded portfolio. Buyers grew c.8% YoY and L2L growths clocked a healthy c.16% YoY. Brand added its first international store in New Jersey, USA in the quarter. A total of 19 domestic stores (net) were added in this period expanding the India presence to 305 stores.

Titan Company is an Indian designer and manufacturer of watches, jewellery, precision engineering components and other accessories including sunglasses, wallets, bags and belts.