Sharekhan has given Buy recommendation for Titan Company with a target price of Rs. 1710 in its research report issued on Feb 10, 2021

Sharekhan’s research report on Titan Company

Titan Company’s (Titan) Q3FY2021 consolidated operating performance came in-line with expectations with revenues rising by 17% to Rs. 7,619 crore and OPM at 11.1%. Jewellery sales (excluding Bullion sales) grew by 16% in Q3 as soaring festive demand let to better footfalls. Watches and Eyewear businesses recovered to 88% and 92% in Q3 and are expected to bounceback fully by Q4. Better operating leverage helped OPM improve sequentially to 11.1% from 6.9% in Q2; OPM likely to be at 12-13% in FY22/23.


We maintain a Buy rating with an unchanged PT of Rs. 1,710; strong recovery anticipated in FY2022 and robust return profile make Titan a better play in retail space.

For all recommendations report, click here