Titan Q1 Preview: Strong Performance on Low Base

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Titan Q1 Preview: Strong Performance on Low Base
Credit: © Reuters.

By Aditya Raghunath

Investing.com -- India’s largest organised jewellery retailer, Titan Company Ltd (NS: TITN ), is scheduled to release its Q1 FY22 earnings today.

The company is expected to post a strong performance, coming off a lower base in FY21. Revenue is expected to go up 55% to Rs 2,889 crore compared to Rs 1,862 crore in Q1 FY21. Net loss is estimated at Rs 29.8 crore compared to Rs 270 crore. EBITDA (earnings before interest, tax, depreciation and amortization) is estimated at Rs 57 crore compared to a loss of Rs 246 crore.

Titan’s Q1 business update, in July, said that its jewellery segment grew by 107% compared to Q1 last year, thanks to zero sales in April 2020. Sales were almost zero in both May 2020 and 2021 due to lockdown restrictions. Sales for June 2021 were slightly ahead of sales in June 2020.

Watches and eyewear segments are expected to post growth of 280% and 117% respectively over last year. Titan’s network expansion plans have got delayed in FY22 due to the pandemic. It added only 5 new stores during the quarter.

The company’s share price has been rallying in the two trading sessions in August. Titan shares closed at Rs 1,842.15, up 7.44%, compared to Rs 1,714.55 on July 30.

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