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Prabhudas Lilladher Report
Titan Company Ltd.'s cut FY24/25/26 earning per share by 2/1.6/1.4% following margin pressure across segments indicating some softness in demand and higher competition.
Titan's Q3 FY24 profit after tax missed on estimates, led by 200 basis points lower share of studded jewelry, muted demand in Q3 amid high gold prices and higher completion from smaller and unorganised players (more consumer offers).
Watch margins suffered due to higher investments behind wearables/ Fastrack and higher sales of margin dilutive online channel.
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