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.

11 Apr 2020

3628.80

-0.24%

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. has an average target of 3853.43 from 7 brokers.

Titan Company Ltd.

10 Apr 2020

3628.80

-0.24%

Titan Company Ltd

Buy: Titan Company Ltd.

Target

ICICI Securities Limited

Titan Company Ltd. is trading above all available SMAs

Titan Company Ltd.

08 Apr 2020

3628.80

-0.24%

Result Preview: Retail

Buy: Titan Company Ltd.

Target

ICICI Securities Limited

The Covid-19 crisis is expected to materially dent the performance of India's retail sector across all distribution channels. The gradual closure of malls and standalone stores from mid-March onwards to April 14 will negatively impact the performance in Q4FY20, Q1FY21. Shortage of workers owing to lockdown has led many of our universe companies to shut down their manufacturing facilities. Furthermore, sales through the e-commerce space have also been severely impacted (especially for non-discretionary) owing to several restrictions on delivery. Q4, on an average, contributes ~24% of...

Titan Company Ltd. is trading above all available SMAs

Titan Company Ltd.

12 Feb 2020

3628.80

-0.24%

TITAN COMPANY LIMITED

Hold: Titan Company Ltd.

Target

Geojit BNP Paribas

Driven by festive season and good wedding season, we expect revenue growth to continue in Q4FY20. We maintain our HOLD rating on the stock, with a revised target price of Rs. 1,356 based on 50x FY22E EPS. Festive season drives topline growth Revenue grew 11.2% YoY to Rs. 6,527cr in Q3FY20, beating the street estimates by 2.7%, fueled by strong performance from Jewellery segment (+12.2% YoY, Rs. 5,606cr) amidst festive season and strong demand for wedding Jewellery. This is partially offset by declines in Watches segment (-2.2% YoY to Rs. 627cr) affected by weak consumer...

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

Titan Company Ltd.

05 Feb 2020

3628.80

-0.24%

Result Review- Titan

Buy: Titan Company Ltd.

Hem Securities

Titan Company Limited is an Indian consumer goods company. It is a joint venture between the Tata Group and the Tamil Nadu Industrial Development Corporation. It commenced operations in 1984 under the name Titan Watches Limited. In 1994, Titan diversified into jewellery with Tanishq and subsequently into eyewear with Titan Eyeplus. In 2013, Titan entered the fragrances segment with the brand Skinn and, later that year, it ventured into the helmets category under its brand Fastrack. Also, Titan announced recently about launching a series...

Titan Company Ltd. has an average target of 3853.43 from 7 brokers.

Titan Company Ltd.

05 Feb 2020

3628.80

-0.24%

Titan (3QFY20): Growth gets dearer. Maintain NEUTRAL

Neutral: Titan Company Ltd.

HDFC Securities

While there is no questioning the execution skills of the outfit, its no See's Candy. >100% of the cumulative CFO (ex-working capital) goes towards working capital and capex needs. This acts as gravity to Titan's punchy valuations of 43x Dec-21E EPS. Peers too are expected to play catch up on the design and capital curve over the medium to long-term. Ergo, we largely maintain our FY21/FY22 estimates and our DCF-based TP of Rs. 1,170/sh (implying 42x Dec-21 P/E) While a reasonable wedding season keeps volume declines in check, fresh jewellery purchase (ex-wedding) remains challenged for most big-box jewelers (Per channel checks) given elevated gold prices. Hence, contextually, Titans 3Q performance seems reasonable. That said, growth has increasingly needed capital-heavy catalysts (aggressive gold exchange schemes) to entice consumers to shop, ergo gotten dearer. However, valuations continue to trade near peak. We maintain our FY21/FY22 EPS estimates and DCF-based TP of Rs 1170/sh (implied P/E of 42x Sept-21E EPS). Reiterate NEUTRAL.

Titan Company Ltd. has an average target of 3853.43 from 7 brokers.

Titan Company Ltd.

05 Feb 2020

3628.80

-0.24%

Titan Company Ltd

Buy: Titan Company Ltd.

Target

ICICI Securities Limited

We expect Titan to be a key beneficiary as India's gold market continues to strive towards regulation and standardisation (recent mandatory gold hallmarking). The company has consistently exhibited its ability to gain market share amid a tough industry scenario. Robust balance sheet (30%+ RoCE and virtually debt free status) and asset light distribution model have enabled it to outpace peers in terms of store addition. We build in revenue and earnings CAGR of 15% and 22%, respectively, in FY19-22E. The aim to double the market share (from 6% to 10%) over the longer term continues...

Titan Company Ltd. has an average target of 3853.43 from 7 brokers.

Titan Company Ltd.

04 Feb 2020

3628.80

-0.24%

Titan Company - 3QFY20 Result Update

Hold: Titan Company Ltd.

Target

Reliance Securities

Titan (TTAN) has reported a better-than-expected performance in 3QFY20. Its revenue was broadly in-line with the management revised guidance band at 11-13% YoY growth in 2HFY20 and it retained the same guidance for 4QFY20E as well. Revenue grew by 9.4% YoY (9MFY20 at +8% YoY) on the back of 10.6% YoY growth in jewellery segment and 2.4% YoY decline in watches segment. While wedding and festive season aided 15% YoY growth in retail jewellery sales, poor consumer sentiment affected Watches and Eyewear division. We are enthused by TTAN's market share gain during though times, not ruling out for its ability to grow >20% with improvement in consumer sentiment, going ahead. Consistent RoE of ~25% in the coming years and strong cash...

Titan Company Ltd. has an average target of 3853.43 from 7 brokers.

Titan Company Ltd.

04 Feb 2020

3628.80

-0.24%

Q3FY20 Result Update

Hold: Titan Company Ltd.

Recommendation

Prabhudas Lilladhar

Watch business under pressures, trade channel will ease another 2/3 months We are cutting FY20, FY21 and FY22 EPS estimates by 2.9%, 4.9% and 7.4% following 1) tepid consumer demand following 20.6% higher gold prices 2) 5% decline in jewellery grammage despite 16% higher number of stores and 12% higher area and 3) trade issues in watch business and 4) sudden loss of...

Titan Company Ltd. is trading above all available SMAs

Titan Company Ltd.

04 Feb 2020

3628.80

-0.24%

Margins surprise, jewelry growth guidance muted

Neutral: Titan Company Ltd.

Target

Motilal Oswal

4 February 2020 While TTANs revenue growth was in line with the guidance, the positive surprise from the result was the jewelry margin of 13% and the EBITDA margin of 12%. Despite 15% retail jewelry YoY sales growth, TTAN has maintained its 2HFY20 guidance of 11-13% jewelry sales growth, considering Jan20 sales growth of only 8%. Recovery prospects in their largest segment, in which TTAN had reported 20%+ growth in FY18/FY19, are still unclear. Near term valuations are also fair leading us to maintain rating. 3QFY20 consolidated revenue grew 11.2% YoY to INR65.3b (v/s est. Adj. EBITDA increased 32.6% YoY to INR7.8b (v/s est. INR7b) while Adj. PBT grew 12.

Titan Company Ltd. has an average target of 3853.43 from 7 brokers.

Is Titan Company Ltd. worth buying?

1332 Votes:

Buy 69.29%

Sell 17.57%

Hold 13.14%

RESEARCH REPORTS

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