{"id":134531,"date":"2022-10-07T06:02:54","date_gmt":"2022-10-07T10:02:54","guid":{"rendered":"https:\/\/44.250.171.167\/?p=134531"},"modified":"2022-10-07T06:02:55","modified_gmt":"2022-10-07T10:02:55","slug":"titan-shares-jump-5-on-robust-q2-business-update-depicts-strong-prospects","status":"publish","type":"post","link":"https:\/\/alphastreet.com\/india\/titan-shares-jump-5-on-robust-q2-business-update-depicts-strong-prospects\/","title":{"rendered":"Titan Shares Jump 5% on Robust Q2 Business Update; Depicts Strong Prospects"},"content":{"rendered":"\n

Shares of Titan Company Limited (NSE: TITAN<\/a>) jumped around 5% on the BSE nearing its 52-week high. The surge in price followed the company\u2019s business update for the September quarter, expected to report later this month.\u00a0<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

The update showcased robust financial performance across all segments in the quarter riding on retail network expansion and the positivity of the festive season. <\/p>\n\n\n\n

With the addition of 105 retail stores in the September quarter, Titan Company remains optimistic for the festive season and positive consumer sentiment. <\/p>\n\n\n\n

Performance in Detail<\/strong> <\/p>\n\n\n\n

Titan Company reported 18% YoY growth in total sales driven by double-digit sales growth in mostly all segments.  <\/p>\n\n\n\n

On a segment basis, Jewellery, Watches & Wearables, EyeCare, and Other Businesses recorded revenue growth of 18%, 20%, 7%, and 58%, respectively, on a year-over-year basis. Additionally, Titan Engineering & Automation Limited (TEAL) and CaratLane reflected YoY revenue growth of 139% and 56%, respectively, in the second quarter. <\/p>\n\n\n\n

According to the company, the Jewellery division grew on a \u201chigh base of Q2FY22 that had elements of pent-up demand and spillover purchases of a Covid disrupted Q1FY22.\u201d  <\/p>\n\n\n\n

Additionally, varied choice of premium brands in watches to consumers in the company and strong sales from Titan Eye+ propelled overall sales. However, lower sales across Trade & Distribution channel on a YoY basis was on the downside. <\/p>\n\n\n\n

TEAL grew stupendously on higher sales at Automation Solutions and Aerospace and Defence Division, while Caratlane reaped the benefits of the festive season. <\/p>\n\n\n\n

Snapshot<\/strong> <\/p>\n\n\n\n

Titan Company, a joint venture between the TATA Group and Tamil Nadu Industrial Development Corporation (TIDCO), stands out in 2022 despite the continual pandemic and the global hues at the beginning of the year. It experienced stupendous sales and financial growth overcoming macro-economic challenges, which continued in the September quarter as well.\u00a0<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

The company seems overvalued compared to its peers at current levels based on both P\/E and P\/B ratios. Nevertheless, this Large Cap company, with a market capitalization of Rs 239,169 crore, offers superior double-digit ROE, strong returns, and long-term growth prospects.<\/p>\n","protected":false},"excerpt":{"rendered":"

Shares of Titan Company Limited (NSE: TITAN) jumped around 5% on the BSE nearing its 52-week high. The surge in price followed the company\u2019s business update for the September quarter, expected to report later this month.\u00a0 The update showcased robust financial performance across all segments in the quarter riding on retail network expansion and the […]<\/p>\n","protected":false},"author":1936,"featured_media":134534,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1941,5],"tags":[10453,10452,9950,10391,9717],"class_list":["post-134531","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-stock-analysis","category-latest","tag-caratlane","tag-eyeware","tag-jewellery","tag-titan","tag-watches"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/alphastreet.com\/india\/wp-content\/uploads\/2022\/10\/Titan.jpg","jetpack_likes_enabled":false,"jetpack-related-posts":[{"id":139878,"url":"https:\/\/alphastreet.com\/india\/titan-reported-its-q3fy23-results-net-profit-drops-by-10\/","url_meta":{"origin":134531,"position":0},"title":"Titan reported its Q3FY23 results; Net profit drops by 10%","author":"Chirag Gupta","date":"February 2, 2023","format":false,"excerpt":"Tata group's flagship company Titan Company Ltd reported double digit revenue growth during the December quarter, driven by healthy consumer demand during the festive season. The company reported a consolidated net profit of \u20b9913 crore for third quarter, which is a decline of 10% over previous year period of \u20b91,012\u2026","rel":"","context":"In "AlphaGraphs"","block_context":{"text":"AlphaGraphs","link":"https:\/\/alphastreet.com\/india\/category\/infographics\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/02\/49a412a2-5ba6-4eab-adb5-1ac81e5a7cc7.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/02\/49a412a2-5ba6-4eab-adb5-1ac81e5a7cc7.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/02\/49a412a2-5ba6-4eab-adb5-1ac81e5a7cc7.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/02\/49a412a2-5ba6-4eab-adb5-1ac81e5a7cc7.png?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/02\/49a412a2-5ba6-4eab-adb5-1ac81e5a7cc7.png?resize=1050%2C600&ssl=1 3x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2023\/02\/49a412a2-5ba6-4eab-adb5-1ac81e5a7cc7.png?resize=1400%2C800&ssl=1 4x"},"classes":[]},{"id":133857,"url":"https:\/\/alphastreet.com\/india\/why-does-titan-company-limited-nse-titan-seem-attractive-for-investment\/","url_meta":{"origin":134531,"position":1},"title":"Why Does Titan Company Limited (NSE: TITAN) Seem Attractive for Investment?","author":"Priti_Ramgarhia","date":"September 14, 2022","format":false,"excerpt":"Titan Company stands out in 2022 despite the persistence of the pandemic and the global conflict at the beginning of the year. It experienced stupendous sales and financial growth overcoming macro-economic challenges. The company\u2019s recent earnings report reflects robust sales and expansion, along with high expenses. From a technical point,\u2026","rel":"","context":"In "Research Summary"","block_context":{"text":"Research Summary","link":"https:\/\/alphastreet.com\/india\/category\/research-summary\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2022\/09\/image-1.png?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2022\/09\/image-1.png?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2022\/09\/image-1.png?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/alphastreet.com\/india\/wp-content\/uploads\/2022\/09\/image-1.png?resize=700%2C400&ssl=1 2x"},"classes":[]},{"id":140863,"url":"https:\/\/alphastreet.com\/india\/titans-net-profit-dropped-by-10-in-december-quarter-of-fy23\/","url_meta":{"origin":134531,"position":2},"title":"Titan’s net profit dropped by 10% in December quarter of FY23","author":"Chirag Gupta","date":"February 2, 2023","format":false,"excerpt":"Titan Company Ltd reported double digit revenue growth during the December quarter, driven by healthy consumer demand during the festive season. 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It has established leadership positions in the Watches, Jewellery and Eyewear categories led by its trusted brands and differentiated customer experience. 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