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Titan Company - Healthy Revenues Momentum Across Divisions: Centrum Broking

We believe the continued sales momentum across business divisions would have positive impact on the organized Jewelry.

<div class="paragraphs"><p>Gold jewellery. (Photo:&nbsp;Vaibhav Nagare/Unsplash)</p></div>
Gold jewellery. (Photo: Vaibhav Nagare/Unsplash)

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Centrum Broking Report

Titan Company Ltd.’s Q3 FY23 business update point out that company has witnessed standalone revenue growth of 12.0%, while Titan Engineering and Automation Ltd. grew 58.0%; Caratlane grew at 50.0% YoY, driven by-

  1. new buyer growth in the festive season,

  2. strong marketing campaign and

  3. network expansion.

Jewelry sales witnessed growth of 11.0% wherein Tanishq opened its first international store in the USA. Studded jewelry reported higher growth than overall divisions led by activations driven by higher contribution from premiumsiation. In Q3, Titan added 111 stores across divisions/ formats.

Watches and wearables achieved 14.0% growth led by strong traction in the wearables space. Sales from Titan Eye+ stores and distribution channel showcased similar growth with overall division.

We believe the continued sales momentum across business divisions would have positive impact on the organized Jewelry.

Click on the attachment to read the full report:

Centrum Titan Company Ltd - Company Update.pdf

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