Titan Company Ltd. share price target and research reports

Latest analyst research reports with target prices and PDF download for TITAN, BSE:500114 Titan Company Ltd.

Titan Company Ltd.

01 Aug 2020

3433.30

0.47%

Opportunity remains significant in difficult times

Neutral: Titan Company Ltd.

Target

Motilal Oswal

(%) Margins (%) FY20 was a challenging year with high gold prices affecting 1QFY20 and the COVID-19 crisis disrupting 4QFY20. Amid this tough operating environment, however, overall topline and earnings growth for Titan Company (TTAN) remained healthy at 6.4% and 8.9%, respectively. This continues a strong trend witnessed in recent years as a result of which sales and PAT CAGRs over FY1720 were also impressive at 17% and 24%, respectively, . Response to the COVID-19 crisis has also been heartening, with clear communication on safety and the addition of two new growth engines digital thrust and lower price point products. Barring high-value jewellery sales, we note that all of these growth engines are at play in FY21 as well. Gains from unorganized and other organized players continued unabated in FY20 and remain promising going forward as well. At less than 10% of the overall jewellery market, TTAN remains well-placed to capture further market share.

Emkay downgraded Titan Company Ltd. to Sell with a price target of 3350.0 on 07 Jul, 2025.

Titan Company Ltd.

10 Jun 2020

3433.30

0.47%

Titan Company Ltd

Hold: Titan Company Ltd.

Recommendation Target

ICICI Securities Limited

FY20 was a challenging year for Tanishq owing to a significant surge in gold prices (up ~31% YoY) and slowdown in discretionary spending. Despite the dual headwinds, Tanishq continued to outperform the industry with sustained market share gains (revenue growth: 6% YoY in FY20). With washout of sales in the second half of March, grammage fell 20% YoY in Q4FY20. Titan added highest number of Tanishq stores in a year (40) taking total store count to 327 as on FY20. Going forward, it expects a gradual recovery in jewellery space from H2FY21 onwards led by festive buying in...

Titan Company Ltd. is trading below its 30 day SMA of 3529.0

Titan Company Ltd.

09 Jun 2020

3433.30

0.47%

Titan Company

Buy: Titan Company Ltd.

Target

Sharekhan

Titan Company Limited's (Titan) consolidated revenue (including other operating income) declined by 3.6% to Rs. 4,711.6 crore. Revenue growth during January-February stood at 16% (driven by 16.5% growth in the jewellery business). Despite the decline in revenue, consolidated gross margin improved by 255 bps, led by higher studded ratio and lowering of customer discounts. The lockdown had a significant impact on the company's store fundamentals. April witnessed a complete washout, while gradual opening of stores led to 10-15% of sales in May. Post the easing of lockdown norms, 85% of Tanishq...

Titan Company Ltd. is trading below its 30 day SMA of 3529.0

Titan Company Ltd.

09 Jun 2020

3433.30

0.47%

Titan's profitability was better than expectations and was driven by stronger margins in...

Buy: Titan Company Ltd.

Recommendation Target

Emkay

Titan's profitability was better than expectations and was driven by stronger margins in jewelry and watches divisions. Excluding IND-AS and one-offs, comparable EBITDA at Rs5.5bn was 18% ahead of our estimates and was marginally lower YoY. Management said that nearly 75% of its jewelry store network resumed operations and is expected to reach 90% by June-end. The pace of recovery has been encouraging at ~80% in jewelry and over 40% in watches, although this is for the very few stores, which were operational for around four weeks in May. Q1 will witness a sharp decline (zero sales in April, 10-15% in May and 30-40% expected...

Titan Company Ltd. has an average target of 3810.71 from 7 brokers.

Titan Company Ltd.

09 Jun 2020

3433.30

0.47%

Titan Company

Buy: Titan Company Ltd.

Recommendation Target

Dolat Capital

Nevertheless, with efficient cost management, the company was able to post strong operational performance and margin expansion. Watches and Eyewear segments were impacted mainly due to lockdown, but margin expansion in watch division was encouraging. We have broadly revised our FY21E at Rs 19.8 and maintained our...

Titan Company Ltd. has an average target of 3810.71 from 7 brokers.

Titan Company Ltd.

09 Jun 2020

3433.30

0.47%

Titan Company Limited

Results Update: Titan Company Ltd.

SMC online

quarter. "The company was impacted significantly in the second half of March due to COVID-19 pandemic with the shutting down of all stores. OPM of the company stood at 13% compared to 9.17% in Q4FY19. As a result operating profits reported profit of Rs 612.36 crore compared to profit of Rs 448.5 crore. Other income fell 26% to Rs 41.71 crore. Interest cost rose by 242% to Rs 42.74 crore. Depreciation rose 150% to Rs 102.08crore. PBT was stood at Rs 509.25 crore compared to profit of Rs 451.13 crore. Profit...

Number of FII/FPI investors increased from 1019 to 1049 in Jun 2025 qtr.

Titan Company Ltd.

09 Jun 2020

3433.30

0.47%

Sharp earnings cut on weak FY21 outlook

Neutral: Titan Company Ltd.

Target

Motilal Oswal

9 June 2020 While 4QFY20 results came in above expectations, negligible Apr20 sales due to lockdown, 1015% of normal sales in May20, and around 40% of normal sales in Jun20 are likely to render 1QFY21 a near washout. Management expects gradual recovery, targeting normalcy only in 4QFY21. In addition to the COVID-19 impact, higher prevailing gold prices and managements reluctance to reduce staff costs, while good for long-term growth, would have an adverse impact on near-term profitability. Lower other expenses as a percentage of sales (70bp YoY to 9.3%) and lower ad spend as a percentage of sales (80bp YoY to 2.1%) were offset by higher staff costs as a percentage of sales (20bp YoY to 6%). A) B) Watches segment sales grew 5.1% YoY to INR5.6b, with the EBIT margin up 740bp YoY to 9.

Titan Company Ltd. is trading above its 200 day SMA of 3368.0

Titan Company Ltd.

27 May 2020

3433.30

0.47%

Titan Co - Axis Alpha (SELL)

Sell: Titan Company Ltd.

Axis Direct

We recommend a SELL on TITAN due to reduced consumer spending on discretionary items which could sharply affect its profitability in H1FY21.

Emkay downgraded Titan Company Ltd. to Sell with a price target of 3350.0 on 07 Jul, 2025.

Titan Company Ltd.

15 Apr 2020

3433.30

0.47%

TITAN COMPANY LIMITED

Buy: Titan Company Ltd.

Recommendation Target

Geojit BNP Paribas

Titan Company Ltd. has an average target of 3810.71 from 7 brokers.

Titan Company Ltd.

11 Apr 2020

3433.30

0.47%

Titan Company Ltd

Buy: Titan Company Ltd.

ICICI Securities Limited

FY20 was challenging for Titan's jewellery division (Tanishq) due to a significant surge in gold prices (up ~31% YoY) & slowdown in discretionary spending. Despite dual headwinds, Tanishq continued to outperform the industry with sustained market share gains. In January-February, Tanishq reported a strong performance with revenue growth of ~16.5%. Diamond studded activation in January, healthy demand for wedding jewellery (~25% of revenues) aided performance of the division. However, owing to store closure in March, revenue for Q4FY20 contracted 5% YoY (vs. I-direct...

Titan Company Ltd. is trading above its 200 day SMA of 3368.0

Is Titan Company Ltd. worth buying?

1321 Votes:

Buy 69.34%

Sell 17.49%

Hold 13.17%

RESEARCH REPORTS

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