Diamond, Gems and Jewellery · TTAN
Diamond, Gems & Jewellery
from 5,079 today
Titan remains one of the strongest consumption franchises in India, with superior earnings growth prospects driven by sustained market share gains, premiumisation and operating leverage. We therefore upgrade the stock to BUY with a revised target price of Rs.5,635, based on 63x FY28E EPS.
Titan Company delivered another strong quarter with consolidated revenue growing 29% YoY and standalone jewelry sales ex-bullion rising 38% YoY. We reiterate our BUY rating with a target price of INR6,000 based on 60x Sept'28E EPS.
Titan Company delivered a profitability beat in 1QFY27, driven by strong buyer growth, Akshay Tritiya demand, and the gold exchange program. We maintain our BUY recommendation with a revised target price of INR 5,694.
Titan Company delivered another strong quarter with consolidated revenue growing 29% YoY, driven by robust performance in jewelry, watches, and eye care. We reiterate our BUY rating on the stock with a target price of INR6,000, based on 60x Sept'28E EPS.
We continue to remain constructive on TTAN given healthy jewellery demand outlook, jewellery margin guidance of ~11% despite elevated competitive intensity, and strong order book in TEAL. We estimate 25.6% EPS CAGR over FY26-28 and arrive at an SOTP-based target price of Rs5,408, retaining our Buy rating.
Ratings and target prices as published by each firm. Each summary condenses that firm's stated view in its own note and is attributed to it; no report text is reproduced.
