Titan Company Ltd

Titan Company will hold a meeting of the Board of Directors of the Company on 8 May 2025.Powered by Capital Market - Live

The company's consolidated retail network increased by 72 stores (net) in the quarter, taking its total to total retail network to 3,312 stores. During the Q4 FY25, the company's jewellery business jumped 24% YoY on the back of significant increase in gold prices. Both plain (gold) jewellery and coins increased 27% YoY and 65% YoY, respectively, led this growth, reflecting high consumer preference for gold (adornment cum store of value). Studded jewellery registered low double-digit value (YoY) growth for the quarter. Tanishq expanded its international network to the new markets of Sharjah in UAE and Atlanta & Seattle in USA. Of the 16 new store additions (net) in India, 4 stores were added in Tanishq and 12 stores were added in Mia. Watches domestic business recorded another quarter of strong 20% YoY growth. Titan, Fastrack and Sonata propelled analog watches growth to 18% YoY. Division added 41 new stores in the quarter, comprising of 20 stores in Titan World, 10 in Helios, and 11 in Fastrack respectively. Eyecare domestic business grew 18% YoY contributed well by revenue and buyers. E-commerce is a new growth driver for the segment and is favored by consumers for affordable fashion purchases like sunglasses. Titan Eye+ added two new stores in the UAE region, one each in Sharjah and Dubai. Division closed 11 stores (net) in India during the quarter. In Emerging Businesses, Fragrances grew 26% YoY, Fashion Accessories clocked 12% YoY growth and Taneira 's sales were lower by 4% YoY. 'IRTH' opened 4 new stores in Hyderabad, Pune, Noida & Mumbai. Taneira closed 1 store during the quarter. Caratlane registered 22% YoY growth, driven by healthy growth in the studded portfolio. The corresponding buyer growth was in mid-single-digits and L2L growth 11 % for this period. A total of 17 domestic stores (net) were added by Caratlane during the quarter. Titan Company is a joint venture between the Tata Group and the Tamilnadu Industrial Development Corporation (TIDCO). The company diversified into Jewellery (Tanishq) and subsequently into EyeCare segment. The company's consolidated net profit marginally declined to Rs 1,047 crore in Q3 FY25, down 0.6% from Rs 1,053 crore in Q3 FY24. Net sales jumped 25.7% YoY to Rs 17550 crore in Q3 FY25.Powered by Capital Market - Live

The key equity benchmarks traded sideways in afternoon trade as the Reserve Bank of India (RBI) began its three-day monetary policy meeting. Investors remain cautious, awaiting a widely anticipated rate cut aimed at boosting growth. With global trade uncertainties in the backdrop, all attention is focused on the RBI's decision, which is set to be announced on Friday. The Nifty traded marginally above the 23,750 mark. Media, metal and oil & gas shares advanced while realty and FMCG stocks declined. At 13:25 IST, the barometer index, the S&P BSE Sensex, declined 140.22 points or 0.18% to 78,440.82. The Nifty 50 index advanced 13.05 points or 0.05% to 23,752.30. The broader market outperformed the headline indices. The S&P BSE Mid-Cap index rose 1.04% and the S&P BSE Small-Cap index added 1.51%. The market breadth was strong. On the BSE, 2,586 shares rose and 1,270 shares fell. A total of 149 shares were unchanged. Economy: In January, the seasonally adjusted HSBC India Services PMI Business Activity Index stood at 56.5, indicating a sharp rate of expansion in business activity compared to the previous month. However, the headline figure declined from 59.3 in December to its lowest level since November 2022. This drop suggests a slowdown in the pace of growth within the sector. India's private sector economy lost some growth momentum in January, as a quicker increase in factory production was more than offset by a softer expansion in service activity. The HSBC India Composite Output Index dropped from 59.2 in December to a 14-month low of 57.7. Despite the decline, the latest figure remained above the long-run series average, indicating that the economy is still experiencing a robust upturn. Pranjul Bhandari, Chief India Economist at HSBC, commented, India's services sector lost growth momentum in January, although the PMI remained well above the 50-breakeven level. The business activity and new business PMI indices eased to their lowest levels since November 2022 and November 2023, respectively. That said, new export business partly countered the downtrend and continued to rebound from a dip in late-2024, in line with official data which showed India's services exports shining in December and capturing a larger share of global trade. Gainers & Losers: Apollo Hospital Enterprises (up 2.91%), Hindalco Industries (up 2.54%), Bharat Electronics (up 2.43%), Bharat Petroleum Corporation (BPCL) (up 2.23%) and ITC Hotels (up 2.14%) were the major Nifty 50 gainers. Asian Paints (down 2.95%), Nestle India (down 2.46%), Titan Company (down 2.44%), ITC (down 1.36%) and Cipla (down 1.14%) were the major Nifty 50 losers. Titan Company slipped 2.44% after the company reported 4.80% decline in standalone net profit to Rs 990 crore in Q3 FY25 as against Rs 1,040 crore posted in Q3 FY24. However, revenue from operations jumped 24.32% year on year (YoY) to Rs 16,053 crore in the quarter ended 31 December 2024. Stocks in Spotlight: Tata Power Company added 1.62% after the company's consolidated net profit rose 8.2% YoY to Rs 1,030.70 crore in the quarter ended 31st December 2024. Net sales increased 5.1% to Rs 15,391.06 crore in Q3 FY25 as compared with Rs 14,651 crore in Q3 FY24. PC Jeweller rallied 4.94% after the company reported consolidated net profit of Rs 147.96 crore in Q3 FY25 compared with net loss of Rs 197.98 crore in Q3 FY24. Revenue from operations surged to Rs 639.45 crore in Q3 FY25 as compared with Rs 40.06 crore in Q3 FY24. Angel One rallied 7.56% after the stockbroker's client base jumped 47.5% to 30.13 million in January 2025 as compared with 20.43 million in January 2024. Force Motors jumped 6.22% after the company's total sales jumped 20.34% to 3,597 units in January 2025 compared with 2,989 units sold in January 2024. Info Edge (India) advanced 3.14% after the company announced that its board has approved 5-for-1 stock split. Global Market: European market declined as investors awaited earnings reports from several key companies including Handelsbanken, TotalEnergies, Akzo Nobel, Credit Agricole, Novo Nordisk, GSK, Vestas Wind and Banco Santander, among others. On the data front, the latest purchasing managers' index data from the euro zone will be released on Wednesday Asian stocks traded mixed on Wednesday after Wall Street rose overnight, shrugging off Trump tariffs and China's retaliatory measures. US President Donald Trump extended the proposed 25% import duties on Canada and Mexico by 30 days but remained firm on China, allowing his 10% tariffs on Chinese goods to take effect on Tuesday. In response, Beijing hit back with a 15% tariff on US coal and liquefied natural gas imports, along with an additional 10% duty on crude oil, agricultural equipment, and automobiles, effective February 10. China's commerce ministry also imposed export controls on rare earths and exotic materials, where the country dominates global supply. The restricted materials include tungsten, tellurium, ruthenium, and molybdenum. The Caixin/S&P Global Services purchasing managers' index (PMI) slipped to 51.0 from 52.2 in December but remained above the 50-mark that separates expansion from contraction on a monthly basis. Despite trade tensions, US markets rebounded on Tuesday, recovering from steep losses on Monday. The S&P 500 climbed 0.7%, the NASDAQ Composite jumped 1.4%, and the Dow Jones Industrial Average edged up 0.3%. However, Alphabet's Class A shares tumbled 7.4% in aftermarket trading after the company's fourth-quarter revenue fell short of expectations, particularly due to weak earnings from its cloud division, which is closely linked to AI.Powered by Capital Market - Live

However, revenue from operations jumped 24.32% year on year (YoY) to Rs 16,053 crore in the quarter ended 31 December 2024. Total income (excluding bullion sale) for the quarter stood at Rs 13,071 crore, registering a growth of 24.2% on YoY basis. Profit before tax in the third quarter of FY24 stood at Rs 1,320 crore, down 1.85% from Rs 1,345 crore recorded in the corresponding quarter previous year. EBITDA rose 2.8% to Rs 1,641 crore in Q3 FY25 as against Rs 1,641 crore posted in Q3 FY24. EBITDA margin reduced by 210 bps to 10.1% in the quarter ended 31 December 2024. EBIT stood at Rs 1,506 crore, up 1.9% YoY while EBIT margin declined by 203 bps to 9.3% posted in Q3 FY25. During the quarter, the company's total income from jewellery business grew by 26% YoY to Rs 14,697 crore in Q3 FY24. The India business grew by 25% in the same period. The festive quarter brought consumer cheer, with secondary sales recording an impressive 28% growth, buoyed by higher gold prices, wedding-related purchases growing by 29%, and healthy same-store sales growth of 22%, respectively, compared to Q3FY24. Gold jewellery and coins continued to be a preferred choice among consumers, together clocking a strong 27% growth over Q3FY24. EBIT stood at Rs 1,398 crore, with a margin of 9.5% for the quarter. Normalizing for the custom duty impact of Rs 253 crore, Q3FY25 EBIT was Rs 1,651 crore, with a margin of 11.2%. During the quarter, Tanishq opened 11 new stores (net), while Mia added 13 stores in the domestic market. The watches & wearables business reported a total income of Rs 1,128 crore for Q3 FY25, reflecting a 15% growth compared to the same period last year. The domestic business saw growth of 14% during this period. The company's analog segment recorded a robust 20% growth over Q3 FY24, primarily led by the Titan brand clocking 18% growth in the same period. Consumer preferences for premium brands were also visible with international brand sales clocking a healthy retail growth of 30% over Q3 FY24. However, the wearables segment declined by 20%, with both average selling prices and volumes declining by 8% and 7%, respectively, compared to Q3 FY24. EBIT came in at Rs 111 crore, clocking a margin of 9.8% for the quarter. 23 stores net were added in Q3 FY25, comprising 12 stores in Titan World, 10 in Helios and 1 in Fastrack, respectively. EyeCare business recorded total income of Rs 194 crore in Q3 FY25, grew 16% over Q3 FY24. International brand sales recorded a strong growth of 56% over Q3 FY24. Within product categories, sunglasses sales outpaced others, growing 35%, while frames and lenses grew in mid-double digits over their respective Q3 FY24 numbers. Business recorded an EBIT of Rs 21 crore, clocking a margin of 10.8% for the quarter. Division closed 3 new stores (net} during the quarter in Titan Eye+. The emerging businesses comprising of Indian dress wear Taneira, fragrances, and fashion accessories (F&FA) recorded a total income of Rs 118 crore for Q3 FY25, growing 5% compared to Q3 FY24. Taneira recorded flattish sales for the quarter. Fragrances recorded a healthy growth of 27% over Q3 FY24, led by 23% growth in SKINN. Within Fashion Accessories, excluding the discontinued belts & wallets segment, women's bags (IRTH & Fastrack) clocked an impressive growth of 25% over the same period last year. The emerging businesses together recorded a loss of Rs 32 crore for the quarter. During the quarter, IRTH opened its first store in Mumbai, followed by a store opening in Chennai. Taneira opened 1 new store in Salem, Tamil Nadu, during the quarter, taking the total store count to 82 stores covering 42 cities. The international jewellery business recorded an income growth of 64% to Rs 569 crore compared to Q3 FY24, largely driven by growth from the North America region and new store expansions. Other businesses comprising primarily of analog watches grew 86% compared to Q3 FY24. During the quarter, 2 new Tanishq stores were opened, one in Dubai and Seattle each. The Jewellery international footprint stands at 20 stores consisting of 18 Tanishq stores and 2 Mia stores. Titan Eye+ international presence stands at 4 stores. Among subsidiaries, Caratlane Trading's total income grew 27% to Rs 1,117 crore compared to Q3 FY24 (excluding bullion and digi-gold sales). Activations and promotions during the festive quarter led to 22% growth in brand searches. EBIT came in at Rs 131 crore for Q3 FY25, clocking a margin of 11.7%. During the quarter, Caratlane added 19 new stores (net) in India, taking the total India store count to 305 stores spread across 128 cities. The brand opened its first international store in New Jersey, USA, in this quarter. Titan Engineering & Automation (TEAL) recorded a total income of Rs 193 crore in Q3 FY25, declining by 4% compared to Q3 FY24. Within divisions, the automation solutions (AS) revenue declined by 14% and the manufacturing services revenue grew 12% in the same period, respectively. EBIT for the quarter came in at Rs 33 crore, clocking a margin of 17%. C K Venkataraman, MD, Titan Company, said, The festive quarter gone by firmly established the FY25 growth trajectory after a muted Q1 and healthy Q2. Jewellery saw its strongest quarter (yet) for the fiscal year, growing well in excess of 25% at a retail level. Consumer preference for gold, both as adornment jewellery and as a store of value continued to remain fairly strong. Our analog watches clocked a healthy retail growth of 20%, reinforcing Titan's customer value proposition in the eyes of the consumer. EyeCare's retail growth returning to double-digits was encouraging. The custom duty related losses on the inventory (held at the time of the duty change) have been fully realized in this quarter and hence the profitability is lower to that extent. We are committed to investing in the growths of all our businesses and specifically the emerging ones to help them scale faster. We remain optimistic on our performance and hope to end the fiscal year with a good growth over FY24. Titan Company, a joint venture between the Tata Group and the Tamilnadu Industrial Development Corporation (TIDCO), commenced its operations in 1987 under the name Titan Watches. In 1994, Titan diversified into Jewellery (Tanishq) and subsequently into EyeCare. Powered by Capital Market - Live

Earnings Today: Abbott India, Arvind Fashions, Avalon Technologies, CCL Products, CMS Info Systems Ltd, Cummins India, Eveready Industries India, Gallantt Ispat, Gujarat Gas, Innova Captab, Jagran Prakashan, Kansai Nerolac Paints, Medi Assist Healthcare Services, Info Edge (India), Navneet Education, Page Industries, Reliance Power, Skipper, Sula Vineyards, Swiggy, Symphony, Tega Industries, Thangamayil Jewellery, VRL Logistics, Welspun Corp, Zydus LIfesciences will declare their quarterly later today. Stocks to Watch: Titan Company's consolidated net profit fell marginally 0.6% to Rs 1,047 crore in Q3 FY25 as compared with Rs 1053 crore in Q3 FY24. Net sales jumped 25.7% YoY to Rs 17,550 crore during the quarter. Tata Power Company's consolidated net profit rose 8.2% YoY to Rs 1030.70 crore in the quarter ended 31st December 2024. Net sales increased 5.1% to Rs 15,391.06 crore in Q3 FY25. Lemon Tree Hotels reported 76.5% jump in consolidated net profit to Rs 62.49 crore in Q3 FY25 compared with Rs 35.40 crore in Q3 FY24. Net sales increased 22.4% YoY to Rs 355.18 crore in Q3 FY25. PC Jeweller reported consolidated net profit of Rs 147.96 crore in Q3 FY25 as compared with net loss of Rs 197.98 crore in Q3 FY24. Net sales surged to Rs 639.45 crore during the quarter compared with Rs 40.06 crore posted in Q3 FY24. Tilaknagar Industries' consolidated net profit jumped 23.2% to Rs 53.93 crore in Q3 FY25 as compared with Rs 43.77 crore in Q3 FY24. net sales (excluding excise duty) declined 9.6% YoY to Rs 340.43 crore in Q3 FY25.Powered by Capital Market - Live

Net profit of Titan Company declined 0.57% to Rs 1047.00 crore in the quarter ended December 2024 as against Rs 1053.00 crore during the previous quarter ended December 2023. Sales rose 25.69% to Rs 17550.00 crore in the quarter ended December 2024 as against Rs 13963.00 crore during the previous quarter ended December 2023. ParticularsQuarter EndedDec. 2024Dec. 2023% Var. Sales17550.0013963.00 26 OPM %9.5411.21 - PBDT1571.001532.00 3 PBT1396.001378.00 1 NP1047.001053.00 -1 Powered by Capital Market - Live

Titan Company will hold a meeting of the Board of Directors of the Company on 4 February 2025.Powered by Capital Market - Live

The firm also launched 69 new outlets during the quarter, taking its total retail network to 3,240 stores. During Q3 FY25, Titan's jewellery business grew about 26% year-on-year, buoyed by strong festive demand. Robust consumer traction during 'Diwali' translated into high single-digit buyer growth along with double-digit ticket size growth. Gold (plain) exhibited particularly strong momentum, growing 24% YoY benefiting from increased gold prices and festive and wedding purchases. Notably, gold coin sales grew 48% YoY, reflecting consumer preference for gold as an investment avenue and customary purchases during the festive occasion of 'Dhanteras'. Studded grew 21% year on year, recording its highest quarterly print till now for the financial year 2025, it added. Tanishq (international) added a new store each in Seattle, USA, and Gold Souk, Dubai. Of the 24 new store additions in India, 11 stores were added in Tanishq and 13 stores were added in Mia. Watches & Wearables domestic business saw 13% growth compared to last year. The analog segment grew by 19%, driven by festive demand and well supported by healthy premiumization trends. The wearables saw a drop of 20% from last year, reflecting the broader market stress in the smart wearables segment and reduced consumer spending in the entry and mid-segment price points. The division added 23 new stores in the quarter, comprising 12 stores in Titan World, 10 in Helios, and 1 in Fastrack, respectively. The EyeCare division's business clocked a healthy growth of 17% YoY, led by retail and e-commerce, both on revenue and buyers. Titan Eye+ closed 3 stores (net) in India during the quarter. In emerging businesses, fragrances grew by 27% year-on-year while fashion accessories declined by 20%. Taneria's growth was flat as compared to last year, and it added one store in the city of Salem during the quarter. The company's Caratlane business jumped 25% YoY, driven by a strong growth of 26% YoY in the studded portfolio. Buyers grew 8% YoY, and L2L growths clocked a healthy growth of 16% YoY. Brand added its first international store in New Jersey, USA, in the quarter. About 19 net new domestic stores were added in this period, expanding the India presence to 305 stores. The Titan brand continues to be Indian consumer's proud choice in this segment. On account of the customs duty-related losses as well as the need to invest in the growth of various businesses, the profitability of Q2 was quite depressed. However, we are quite confident about the competitiveness of each of our businesses, and we remain optimistic about our performance for the rest of the financial year. Titan Company, a joint venture between the Tata Group and the Tamilnadu Industrial Development Corporation (TIDCO), commenced its operations in 1987 under the name Titan Watches. In 1994, Titan diversified into Jewellery (Tanishq) and subsequently into EyeCare.Powered by Capital Market - Live

Titan Company has appointed Naveen Dadlani as the Head of Integrated Retail Services Group designated as Senior Management Personnel. Powered by Capital Market - Live

Titan Company has fully redeemed commercial paper of Rs 500 crore today, 18 November 2024. Powered by Capital Market - Live