InvestorQ : Can you tell me about the Titan results for the third quarter ended Dec-21?
Tisha Malhotra made post

Can you tell me about the Titan results for the third quarter ended Dec-21?

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Aashna Tripathi answered.
3 months ago
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For the Dec-21 quarter, Titan reported 31.7% higher sales at Rs.10,037 crore. During the Dec-21 quarter, the consumer business of Titan grew 36%. The jewellery vertical grew by 37% at Rs.6,249 crore and remains the most dominant vertical for Titan. Even watches and wearables saw 29% growth at Rs.708 crore in Q3. Eyewear grew 24% and fashion and accessories grew by 44%, albeit on a much smaller base. Product mix was favourably tweaked by Titan in Q3.

 

Titan Company Ltd

 

 

 

 

Rs in Crore

Dec-21

Dec-20

YOY

Sep-21

QOQ

Total Income (Rs cr)

₹ 10,037

₹ 7,619

31.74%

₹ 7,493

33.95%

EBITDA (Rs cr)

₹ 1,344

₹ 752

78.72%

₹ 864

55.56%

Net Profit (Rs cr)

₹ 1,004

₹ 525

91.24%

₹ 639

57.12%

 

 

 

 

 

 

Diluted EPS (Rs)

₹ 11.31

₹ 5.92

 

₹ 7.20

 

EBITDA Margin

13.39%

9.87%

 

11.53%

 

Net Margins

10.00%

6.89%

 

8.53%

 

 

For Dec-21 quarter, operating profits were up 78.7% at Rs.1,344 crore. The dominant jewellery business grew operating profits by 67.6% at Rs.1,260 crore while the watches and wearables business saw EBIT growing 44% to Rs.82 crore. The recovery in demand was supported by its 2,064 stores across 323 Indian towns. Operating margins improved sharply from 9.87% in Dec-20 quarter to 13.39% in the Dec-21 quarter, helped by jewellery business.

Net Profits were higher by an impressive 91.24% yoy at Rs.1,004 crore in the Dec-21 quarter on robust operating performance and an overall festive recovery in demand. Titan also recorded inventory efficiency gains during the quarter through working capital tweaks. PAT margins improved from 6.89% in the Dec-20 quarter to 10.00% in the Dec-21 quarter. It has sustained retail growth and justified valuations in extremely tough economic conditions.

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