Jewellery Business Dazzles; Structural Shift Taking Place Titan Company has reported stellar performance in 2QFY18 with net sales/EBITDA/PAT growing by 30%/55%/71%, easily surpassing ours and consensus estimates. While net sales came in at Rs33.8bn (estimate of Rs30.4bn), net profit stood at Rs3.1bn (vs. estimate of Rs2.1bn). EBITDA margins improved by 200bps to its highest ever level of 12.4% with absolute EBITDA increasing...