Total income during the quarter under review stood at Rs 3,519 crore. It was Rs 2,020 crore earlier.
Representative image
‘); $ (‘#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 rose 1 percent in the early trade on August 5 after the company reported its June quarter earnings.
The company on August 4 reported a consolidated profit of Rs 18 crore for the June quarter, helped by higher income. The company had reported a net loss of Rs 297 crore in the corresponding period of the preceding fiscal.
Total income during the quarter under review stood at Rs 3,519 crore. It was Rs 2,020 crore earlier.
The watches and wearables business recorded an income of Rs 292 crore as against Rs 75 crore earlier.
The eyewear business income stood at Rs 67 crore, compared to Rs 30 crore in the same period last year.
Here is what brokerages have to say about the stock and the company after the June quarter earnings:
Morgan Stanley | Rating: Equal-weight | Target: Rs 1,358
The company’s jewellery segment performance is in-line with our estimates, while losses in non-jewellery segments are higher than our expectations, said Morgan Stanley.
The management expects second half of the year to be much better, while margin improvement in jewellery segment remains key.
CLSA | Rating: Sell | Target: Rs 1,380
The company’s management is hoping for faster recovery in lifestyle segments. The jewellery segment is recovering well in Q2 with vaccination confidence back.
The valuations already pricing in upside related to demand recovery & share gains.
Goldman Sachs | Rating: Sell | Target: Rs 896
Goldman Sachs has kept sell rating as Q1 revenue growth across segments broadly in-line, while EBITDA was below estimates.
The jewellery EBIT margin ahead of estimates, offset by losses in other segments.
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Prabhudas Lilladher | Rating: Accumulate | Target: Rs 1,916
We are marginally increasing FY22/23 EPS by 0.64%/1.94% given strong demand recovery in June/July and faster recovery in Eyewear and Watches relative to last year. TTAN remains positive on recovery given rising vaccination, although a couple of large south Indian states remain a drag.
Sharekhan | Rating: Buy | Target: Rs 2,025
Titan’s jewellery business is expected to post a CAGR of 15% over FY2021-FY2024. The watches and eyewear business is expected to see strong recovery because of revamp strategies, strong product profile, and focus on striving higher footfalls.
Strong growth in the jewellery business and improvement in margins would result in double-digit earnings growth over the next two to three years. Strong brand recognition in the jewellery space, balance sheet strength, and good return ratios make it one of the better plays in the retail space.
Motilal Oswal | Rating: Buy | Target: Rs 2,065
Motilal Oswal continue to believe that company can claw back some of the lost demand in 1QFY22. The recovery in Jun-Jul’21 was strong.
Underlying demand remains robust, led by a decline in gold prices and strong wedding demand.
Company’s medium to long-term earnings growth opportunity is the best-of-breed, which is reflected in the EPS CAGR of ~24% over the past three years before the COVID-19 impact in FY21.
There is a strong growth runway, given Titan’s market share of less than 10% and the continuing struggles of unorganized and other organized peers.
ICICI Direct | Rating: Buy | Target: Rs 2,110
Covid induced lockdowns disrupted the performance for Titan in Q1FY22. Green-shoots were visible with strong pent-up demand from July onwards.
Titan has been an exceptional performer in the discretionary space with stock price appreciating at ~34% CAGR in last five years.
At 09:21 hrs Titan Company was quoting at Rs 1,776.55, down Rs 23.25, or 1.29 percent on the BSE.
The share touched a 52-week high of Rs 1,858 and a 52-week low of Rs 1,048.50 on 04 August, 2021 and 12 August, 2020, respectively.
Currently, it is trading 4.38 percent below its 52-week high and 69.44 percent above its 52-week low.
Disclaimer: The above report is compiled from information available on public platforms. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
