Titan Q4 Results Review - Challenging Times Ahead; Sell: Dolat Capital

"NDTV Profit’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy. .Dolat Capital Report.Titan Company Ltd.’s Q4 FY24 Ebitda was in-line with our estimate, however, revenue and adjusted profit after tax came ahead of our anticipation. The studded contribution remained steady at 33%. A 170 bps drop in gross margin was a negative surprise during the quarter. Despite recent surge in gold prices, the company would continue to focus on accelerating volumes. However, taking cues from anecdotal evidences, we expect volumes to remain under pressure. Further, margins are also likely to remain under pressure due to increased discounting and competition. We have reduced our FY25/26E earnings per share estimate by 2.7/1.3% at Rs 51.5/61.5 to factor in increased gold prices and its impact on volumes, and higher discounting to addressed escalated competition. We downgrade the stock to ‘Sell’ from Reduce valuing at 54 times FY26E earnings per share and arrive at a target price of Rs 3,322. .Click on the attachment to read the full report:.Titan Q4 Results Review - Miss On Profitability; Sustaining Focus On Growth: Motilal Oswal.DISCLAIMERThis report is authored by an external party. NDTV Profit does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner."

Titan Q4 Results Review - Challenging Times Ahead; Sell: Dolat Capital

Muted margin performance across segments

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Titan Q4 Results Review - Challenging Times Ahead; Sell: Dolat Capital

Muted margin performance across segments

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