Review

TITAN COMPANY

Ticker : 500114
FV: Rs.1
52-Week H/L: Rs.1389.85/842.45



We had previously recommended Titan Company Limited in volume no. 36, issue no. 01 (dated October 28, 2019), when the scrip was trading at Rs. 1378. Titan's product portfolio includes jewellery, eyewear, watches, fashion goods, etc. The stock was previously recommended on the basis of improving quarterly performance and also of fundamental parameters such as ROE and EPS strength. On consolidated basis, for Q2FY20, the total income from operations increased by 1.74 per cent to Rs. 4600.71 crore from Rs. 4522.18 crore in Q2FY19. For Q2FY20 PBDT expanded by 5.35 per cent and was Rs. 509.19 crore compared to Rs. 483.33 crore for Q2FY19 The company gained a net profit of Rs. 314.26 crore in Q2FY20 which is an increase of 3.78 per cent YoY as compared to Rs. 302.81 in Q2FY19. With stable gold prices, the company will be able to improve its market share. Hence, we recommend a HOLD.