Titan - Navigating Growth Through Innovation, Adaptability: Motilal Oswal

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..Motilal Oswal Report.Titan Company Ltd., with its superior competitive positioning (in sourcing, studded ratio, youth-centric focus, and reinvestment strategy), has continued to outperform other branded players. The brand recall and business moat are not easily replicable; therefore, Tanishq’s competitive edge will remain strong in the category. The store count reached 3,096 stores as of June-24, and the expansion story remains intact.Titan’s Ebitda margin has been under pressure during FY24 owing to a lower studded mix. It will be critical to monitor the margin outlook amid intensifying competition. The non-jewelry business is also scaling up well and will contribute to growth in the medium term. The business currently accounts for 12% and 9% of revenue and Ebit, respectively.We model 16%/18%/20% revenue/Ebitda profit after tax compound annual growth rate during FY24-26E. Titan’s valuation is rich, but it offers a long runway for growth with a superior execution track record. Reiterate Buy with a target price of Rs 4,000 (based on 65 times June-26E EPS)..Click on the attachment to read the full report:.Titan Q1 Results Review - Multiple External Factors, Volatile Gold Prices Checks The Quarter: Centrum.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 - Navigating Growth Through Innovation, Adaptability: Motilal Oswal

The company’s valuation is rich, but it offers a long runway for growth with a superior execution track record, says the brokerage.

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Titan - Navigating Growth Through Innovation, Adaptability: Motilal Oswal

The company’s valuation is rich, but it offers a long runway for growth with a superior execution track record, says the brokerage.

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