The company recorded strong revenue growth of 60% for the overall Q4 due to low base of March 2020, with revenue growth of over 36% in the comparable January & February months.
Titan | Subsidiary CataLane incorporated ‘StudioC Inc’ as a wholly owned subsidiary. CaratLane acquired 100 percent stake in StudioC Inc worth $ 150,000.
‘); $ (‘#lastUpdated_’+articleId).text(resData[stkKey][‘lastupdate’]); //if(resData[stkKey][‘percentchange’] > 0){ // $ (‘#greentxt_’+articleId).removeClass(“redtxt”).addClass(“greentxt”); // $ (‘.arw_red’).removeClass(“arw_red”).addClass(“arw_green”); //}else if(resData[stkKey][‘percentchange’] = 0){ $ (‘#greentxt_’+articleId).removeClass(“redtxt”).addClass(“greentxt”); //$ (‘.arw_red’).removeClass(“arw_red”).addClass(“arw_green”); $ (‘#gainlosstxt_’+articleId).find(“.arw_red”).removeClass(“arw_red”).addClass(“arw_green”); }else if(resData[stkKey][‘percentchange’] 0) { var resStr=”; var url = ‘//www.moneycontrol.com/mccode/common/saveWatchlist.php’; $ .get( “//www.moneycontrol.com/mccode/common/rhsdata.html”, function( data ) { $ (‘#backInner1_rhsPop’).html(data); $ .ajax({url:url, type:”POST”, dataType:”json”, data:{q_f:typparam1,wSec:secglbVar,wArray:lastRsrs}, success:function(d) { if(typparam1==’1′) // rhs { var appndStr=”; var newappndStr = makeMiddleRDivNew(d); appndStr = newappndStr[0]; var titStr=”;var editw=”; var typevar=”; var pparr= new Array(‘Monitoring your investments regularly is important.’,’Add your transaction details to monitor your stock`s performance.’,’You can also track your Transaction History and Capital Gains.’); var phead =’Why add to Portfolio?’; if(secglbVar ==1) { var stkdtxt=’this stock’; var fltxt=’ it ‘; typevar =’Stock ‘; if(lastRsrs.length>1){ stkdtxt=’these stocks’; typevar =’Stocks ‘;fltxt=’ them ‘; } } //var popretStr =lvPOPRHS(phead,pparr); //$ (‘#poprhsAdd’).html(popretStr); //$ (‘.btmbgnwr’).show(); var tickTxt =’‘; if(typparam1==1) { var modalContent = ‘Watchlist has been updated successfully.’; var modalStatus = ‘success’; //if error, use ‘error’ $ (‘.mc-modal-content’).text(modalContent); $ (‘.mc-modal-wrap’).css(‘display’,’flex’); $ (‘.mc-modal’).addClass(modalStatus); //var existsFlag=$ .inArray(‘added’,newappndStr[1]); //$ (‘#toptitleTXT’).html(tickTxt+typevar+’ to your watchlist’); //if(existsFlag == -1) //{ // if(lastRsrs.length > 1) // $ (‘#toptitleTXT’).html(tickTxt+typevar+’already exist in your watchlist’); // else // $ (‘#toptitleTXT’).html(tickTxt+typevar+’already exists in your watchlist’); // //} } //$ (‘.accdiv’).html(”); //$ (‘.accdiv’).html(appndStr); } }, //complete:function(d){ // if(typparam1==1) // { // watchlist_popup(‘open’); // } //} }); }); } else { var disNam =’stock’; if($ (‘#impact_option’).html()==’STOCKS’) disNam =’stock’; if($ (‘#impact_option’).html()==’MUTUAL FUNDS’) disNam =’mutual fund’; if($ (‘#impact_option’).html()==’COMMODITIES’) disNam =’commodity’; alert(‘Please select at least one ‘+disNam); } } else { AFTERLOGINCALLBACK = ‘overlayPopup(‘+e+’, ‘+t+’, ‘+n+’)’; commonPopRHS(); /*work_div = 1; typparam = t; typparam1 = n; check_login_pop(1)*/ } } function pcSavePort(param,call_pg,dispId) { var adtxt=”; if(readCookie(‘nnmc’)){ if(call_pg == “2”) { pass_sec = 2; } else { pass_sec = 1; } var url = ‘//www.moneycontrol.com/mccode/common/saveWatchlist.php’; $ .ajax({url:url, type:”POST”, //data:{q_f:3,wSec:1,dispid:$ (‘input[name=sc_dispid_port]’).val()}, data:{q_f:3,wSec:pass_sec,dispid:dispId}, dataType:”json”, success:function(d) { //var accStr= ”; //$ .each(d.ac,function(i,v) //{ // accStr+=”+v.nm+”; //}); $ .each(d.data,function(i,v) { if(v.flg == ‘0’) { var modalContent = ‘Scheme added to your portfolio.’; var modalStatus = ‘success’; //if error, use ‘error’ $ (‘.mc-modal-content’).text(modalContent); $ (‘.mc-modal-wrap’).css(‘display’,’flex’); $ (‘.mc-modal’).addClass(modalStatus); //$ (‘#acc_sel_port’).html(accStr); //$ (‘#mcpcp_addportfolio .form_field, .form_btn’).removeClass(‘disabled’); //$ (‘#mcpcp_addportfolio .form_field input, .form_field select, .form_btn input’).attr(‘disabled’, false); // //if(call_pg == “2”) //{ // adtxt =’ Scheme added to your portfolio We recommend you add transactional details to evaluate your investment better. x‘; //} //else //{ // adtxt =’ Stock added to your portfolio We recommend you add transactional details to evaluate your investment better. x‘; //} //$ (‘#mcpcp_addprof_info’).css(‘background-color’,’#eeffc8′); //$ (‘#mcpcp_addprof_info’).html(adtxt); //$ (‘#mcpcp_addprof_info’).show(); 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Titan Company share price was trading in the green intraday on April 7 after the company said that it witnessed strong business momentum in the March quarter of fiscal 2021.
The company recorded strong revenue growth of 60 percent for the overall Q4 due to the low base of March 2020, with revenue growth of over 36% in the comparable January and February months. The reported revenue growth was further aided by a large B2B gold coin order that contributed about 8 percent of the growth.
For the International Business Division, the performance of its Dubai Boutique has exceeded the internal expectations and all the retail metrics are quite healthy. The division is now planning to open another store in GCC. The division took over 10 kiosks of Watches from the existing business partner in GCC.
Titan’s jewellery division continued to see strong sales momentum in Q4, reflecting the strong market share gains. A sharp decline in gold prices during the quarter also gave impetus to the consumer demand for the industry.
The company said that the Q4 also had a large B2B order in the quarter, contributing to about 10 percent of the quarter’s growth. The retail and reported revenue growth for the first two months was about 32 percent. Reported revenue growth for the quarter was 70 percent due to the low base of March month in the previous year.
Caratlane delivered a growth of 60% for the quarter continuing its strong growth trajectory. Despite the challenges at the start of the year, for the full year FY 2021, the Caratlane B2C business grew at 26%.
Research and broking firm DOlat Capital is of the view that the jewellery division is likely to register 70 percent YoY growth in Q4. It believes that the company has gained share from unorganised players during the year. The company was able to sustain growth rate even after the festival season, is a key positive.
“We expect jewellery division to continue to register strong performance going ahead, with a decline in gold prices and favourable base. Increasing severity of lockdown is a key risk,” it added.
Compared to Jewellery, we believe that the watches business would take a slightly longer time to recover because of work from home culture and lower need for dressing up. We expect normalization of growth in FY22E, it said.
Dolat Capital feels that overall, Titan Company is likely to register ~60 percent YoY revenue growth in Q4FY21 encouraged by the strong recovery across all segments.
“The stock is valued at 52x FY23E EPS. We continue to believe that the long term fundamentals are intact and in the absence of higher investment opportunities in the sector, Titan would continue to command high valuations,” the brokerage firm added.
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