Titan Results Updates: Net profit rises 7% YoY to ₹786 crore, declares dividend of ₹11 per share

Titan Results Live: Titan board approves reappointment of CK Venkataraman

Titan Results Live: The Board has also approved the reappointment of CK Venkataraman’s tenure as the Managing Director of the company, effective from October 2024 until December 2025.

Titan Results Live:  CK Venkataraman, Managing Director of Titan, stated,

Titan Results Live: “FY24 was yet another satisfying year for Titan. Our Jewellery business continued to grow in prominence achieving a proud milestone of ₹40,000+ crores in consumer sales. Together our brands of Tanishq, Mia, Zaya and Caratlane are meaningfully innovating and offering the best variety of choices for the discerning woman of tomorrow. Our Wearables business is making good strides contributing to the ambitious growth targets that the business has embarked upon. The EyeCare business has re-calibrated itself in this year of consolidation and has launched exciting new product launches for the fashion-conscious youth . Taniera’s expansions are gathering pace, and their stores are accessible across the length and breadth of the country. Through their ‘Weavershalas’ initiative, the brand is assiduously striving to protect traditional heirloom methodologies whilst embracing modernity practices. As we look forward to FY25, all businesses of Titan Company Limited are single-mindedly continuing to focus on satisfying the ever-evolving needs of our lifestyle consumers .”

Titan Results Live: Emerging business recorded a total income of ₹97 crore

Titan Results Live: The Emerging Businesses comprising of Indian Dress Wear- Taneira, Fragrances, Fashion Accessories (F&FA) recorded a total income of ₹97 crores for Q4FY24 growing 26% over Q4FY23. The businesses together recorded a loss of ₹22 crores for Q4FY24. For the full year, the total income grew 28% to ₹378 crores. The corresponding EBIT loss was ₹93 crores for FY24.

Titan Results Live: Eyecare segment was flat in Q4FY24

Titan Results Live: : Total Income of ₹166 crore in Q4FY24 was flat compared to Q4FY23. Business recorded an EBIT of ₹8 crore clocking a margin of 4.8% for the quarter. For the full year, the EyeCare Division recorded a Total Income growth of 5% to ₹724 crores. The corresponding EBIT at ₹85 crores recorded a margin of 11.7% for the full year.

Titan Results Live: Watches and wearables segment grew 9% in Q4 FY24

Titan Results Live: : Business recorded a total income of ₹940 crores, up 8% over Q4FY23. The domestic business grew 9% in the same period. EBIT came in at ₹80 crores clocking a margin of 8.5% for the quarter. For the full year, Division recorded a total income growth of 18% to ₹3,904 crores. The corresponding EBIT was ₹397 crores at a margin of 10.2% for FY24.

Titan Results Live:  Jewellery segment grew 19% YoY to ₹8,998 crores

Titan Results Live: Total Income for the quarter grew 19% over Q4FY23 to ₹8,998 crore. The India business grew 20% in the same period. EBIT at ₹1,089 crore recorded a margin of 12.1% for the quarter. For the full year, division recorded a total income growth of 20% to ₹38,353 crores. The corresponding EBIT was ₹4, 726 crores at a margin of 12.3% for FY24.

Titan Results Live: Total income grew 23% YoY

Titan Results Live: The jewellery and watch maker further reported a 23% year-on-year (YoY) growth in total income for FY24 at ₹47,501 crore. The corresponding PBT grew 4% to ₹4,623 crores.

Titan Results Live: Dividend declared of ₹11 per share

Titan Results Live: The Board has recommended a dividend of ₹11 per equity share of ₹1 each, to be distributed or dispatched following the conclusion of the 40th Annual General Meeting, subject to approval from the company’s shareholders.

Titan Results Live: Income grows 22%, EBIT up 10%

Titan Results Live: In consolidated terms, the company recorded an income growth of 22% in Q4FY24 compared to Q4FY23. EBIT grew by 10% YoY to ₹1,192  crore, whereas PBT was flat at ₹991 crore that included financial costs of CaratLane acquisition and ESOP related costs.

Titan Results Live: Titan net profit rises over 7% year-on-year

Titan Results Live: The company announced a 7% year-on-year (YoY) increase in its standalone net profit, amounting to ₹786 crore, largely aligning with the anticipated figures.

Titan Results Live: Net profit at ₹786 crore, Revenue at ₹11,257 crore

Titan Results Live: Titan posted net profit at ₹786 crore for the quarter ended on March 31, 2024. Revenue also up 0.9% to ₹11,257 crore.

Titan Results Live: Revenue from Fragrances & Fashion Accessories grew 12% YoY

Titan Results Live: Revenue generated from Fragrances & Fashion Accessories experienced favorable growth, showing an approximate 12% increase year over year. More specifically, Fragrances revenue demonstrated a growth of approximately 9% year over year, whereas Fashion Accessories displayed a strong expansion of around 18% year over year.

Titan Results Live: Segment-wise likely growth

Titan Results Live: The jewelry segment of Titan is anticipated to experience an 18.5% growth, projecting a five-year revenue compound annual growth rate (CAGR) of 21.4%. However, sales of watches and eyewear are expected to face challenges, with a growth of 5% for watches and a decline of 1% for eyewear.

Titan Results Live: Share price falls 1.32% ahead of Q4 results

Titan Results Live: Titan stock closed in red, down by 1.32 per cent on Friday’s trading session at ₹3,521 per share, against previous close at ₹3,568.

Titan Results Live:  Titan opened 86 new stores in Q4

Titan Results Live: The company added over 86 new stores in Q4, expanding its retail network presence to 3,035 stores in India.

Titan Results Live: EBITDA to rise 11%

Titan Results Live:  On the operational side, it is estimated that Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) for the quarter concluding in March 2024 could rise by 11.8% to ₹1,297.8 crore, compared to ₹1,160.5 crore in the previous year. Additionally, the EBITDA margin is expected to widen by 73 basis points year-on-year, reaching 11.53% from 10.8%, according to projections.

Titan Results Live: Taneira’s revenue grew 37% YoY: Titan Q4 update

Titan Results Live: In Emerging Businesses, Taneira’s Revenue grew c.37% YoY. The brand opened 11 new stores during the quarter comprising 8 new city additions. The Fragrances & Fashion Accessories Revenue grew by c.12% YoY. Within businesses, Revenue in Fragrances grew by c.9% YoY and Fashion Accessories grew c.18% YoY, Titan said in its Q4 business update.

Titan Results Live: Watches & Wearables domestic business grew c.7% YoY: Q4 update

Titan Results Live: Watches & Wearables domestic business grew c.7% YoY comprising of c.7% Revenue growth in analog watches and c.2% growth in Wearables. Helios channel housing Titan and International brands grew fastest in the analog portfolio clocking a healthy double-digit growth. 44 new stores were added in the quarter consisting of 10 stores in Titan World, 20 in Helios and 14 in Fastrack respectively, Titan Company said in its Q4 business update. 

Its EyeCare Division’s Revenue declined by c.1 % YoY. Titan Eye+ added a new store in Dubai taking the total count to 4 stores in the GCC region.

Titan Results Live: Jewellery domestic operations grew 19% YoY: Titan Q4 biz update

Titan Results Live: Jewellery domestic operations grew c.19% YoY led by both buyers and same store sales clocking healthy double digit growths. Growth was similar across gold (plain) and studded segments, Titan Company said in its Q4 business update. Tanishq added a new store in Dubai and Chicago (USA) during the quarter. Of the 27 new store additions (net) in India, 11 stores were added in Tanishq and 16 stores were added in Mia. 

Titan Results Live: Expect demand moderation in Titan’s jewelry segment: Antique

Titan Results Live: Antique Stock Broking believes there could be demand moderation in Titan’s jewelry segment in 4QFY24. It expects Titan’s jewelry segment to clock a revenue growth of 17% YoY on a high base. There could be some spillover of jewelry sales to 4QFY24 due to a higher number of wedding dates. On a five-year CAGR basis, the brokerage firm expects a revenue growth of 20%, broadly in line with the previous quarter. Watches and eyewear divisions are expected to grow at 16% and 21% YoY.

Titan Results Live: Titan shares price performance

Titan Results Live: Titan Company share price dipped over a percent ahead of the announcement of Q4 results today. Titan shares have fallen over 5% in one month, while the stock is up more than 32% in one year.

Titan Results Live: Titan Q4 business update

Titan Results Live: In its preliminary Q4 business update, Titan said it registered a revenue growth of around 17% YoY in the quarter. The company added over 86 new stores in Q4, expanding its retail network presence to 3,035 stores in India.

Titan Results Live: Expect high double digit value growth despite elevated gold prices: Prabhudas Lilladher

Titan Results Live: Titan is expected to report high double digit value growth despite elevated gold prices driven by a strong wedding season. New growth engines like Taneira and Caratlane are likely to grow by 30% and 37%. Watches and Eyewear sales are under pressure with growth of 5% and decline of 1% respectively, Prabhudas Lilladher said.

Titan Results Live: Expect five-year revenue CAGR of 21.4%: Motilal Oswal

Titan Results Live: Motilal Oswal expects Titan’s Q4 revenue growth at 17.9% YoY. It anticipates the jewelry segment to grow by around 18.5%, with a five-year revenue CAGR of 21.4%. Gross profit margin is expected to decrease 70 bps YoY, while EBITDA margin is estimated to remain flat YoY. The brokerage said outlook on international business expansion is a key monitorable.

Titan Results Live: Jewelry segment growth seen at 18.5%

Titan Results Live: Titan’s jewelry segment is expected to grow by 18.5%, with a five-year revenue CAGR of 21.4%, analysts said. Watches and Eyewear sales are likely to be under pressure with growth of 5% and decline of 1%, respectively. New growth engines like Taneira and Caratlane are likely to grow by 30% and 37%.

Titan Results Live: EBITDA growth seen at 11.8% YoY, margin may expand by 73 bps

Titan Results Live: At the operational front, Titan’s Earnings Before Interest, Taxes, Depreciation and Amortisation (EBITDA) during the quarter ended March 2024 may increase 11.8% to ₹1,297.8 crore from ₹1,160.5 crore, while EBITDA margin is likely to expand by 73 bps to 11.53% from 10.8%, YoY, as per the estimates.

Titan Results Live: Titan shares trade lower ahead of Q4 results today

Titan Results Live: Titan share price traded lower on Friday ahead of the release of Q4 results today. Titan shares opened 0.82% higher at ₹3,598.90 apiece as against previous close of ₹3,569.50 on the BSE. Titan stock gave up early gains and fell 0.76% to day’s low of ₹3,542.20.

Titan Results Live: Titan Q4 revenue likely to grow 16% YoY

Titan Results Live: Titan Company is expected to report double digit revenue growth in the fourth quarter of FY24. The company’s revenue in Q4FY24 is expected to rise 16% to ₹11,250 crore in Q4FY24, registering a growth of 16% from ₹9,704 crore in the year-ago period, according to average estimates of domestic brokerages including Prabhudas Lilladher and Antique Stock Broking. Titan is expected to report high double digit value growth despite elevated gold prices driven by a strong wedding season.

Titan Results Live: Titan Q4 net profit seen rising 8% YoY

Titan Results Live: Titan net profit in the quarter ended March 2024 is expected to rise 8.2% to ₹794 crore from ₹734 crore in the year-ago quarter, according to average estimates of brokerages. Analysts believe there could be demand moderation in Titan’s jewelry segment in Q4FY24.

Titan Results Live: Expect double digit revenue growth led by strong wedding season

Titan Results Live: Titan Company, the Tata group jewellery and watches maker, is expected to report double digit revenue growth in the fourth quarter of FY24, despite a likely demand moderation in the jewellery segment. Titan is expected to report high double digit value growth despite elevated gold prices driven by a strong wedding season. New growth engines like Taneira and Caratlane are likely to grow by 30% and 37%.

Titan Results Live: 50 companies to post Q4 results today

Titan Results Live: A total of fifty companies will announce their financial results for the fourth quarter of FY24 (January-March 2024), on May 3, 2024. Adani Green Energy, Godrej Properties, Tata Technologies Ltd, Titan Company Limited, Britannia Industries Ltd, JSW Infrastructure Ltd, Inox Green Energy Services Ltd, Inox Wind Ltd, MRF Ltd and Inox Wind Energy Ltd are the top companies among the 50 scheduled to post their results today.

Titan Results Live: Titan to report Q4 results today

Titan Results Live: The Tata group jewellery and watches maker Titan Company is set to report Q4 results today. The board of directors of Titan Company will meet today to approve the financial statements for the fourth quarter of FY24 and full year FY24.