Titan Q4 results preview: Tata Group firm may report double digit growth

Consumer discretionary major Titan is expected to post double-digit revenue in the fourth quarter of financial year 2023-24 (Q4 FY24) on a year-on-year (YoY) basis. According to experts, Titan, a Tata group firm, is expected to report a YoY revenue growth of 11.4% to ₹11,054 crore.

The net profit is projected to rise to ₹811 crore in Q4 FY24 as compared to the same quarter of FY23, reflecting a growth of 10.5%. Experts said that the EBITDA (earnings before interest, taxes, depreciation, and amortisation) margin may witness a 40 basis points uptick.

In its business update, the company informed that it had added 86 stores in the final quarter of the year that ended on March 31, 2024, taking total strength in the country to 3,035 outlets.

In Q4 FY24, Titan's jewellery domestic operations rose 19% YoY, led by both buyers and same-store sales recording healthy double-digit growths, the company had said in an exchange filing.

Watches and wearables domestic business reported a 7% YoY increase, comprising of 7% revenue growth in analogue watches and a 2% growth in wearables.

However, the revenue of the eyecare division declined by 1%.

Also Read: Q4 results today: Tata Tech, Titan, Britannia, MRF others to post earnings on May 3; check list

"In emerging businesses, Taneira's revenue grew 37% YoY. The brand opened 11 new stores during the quarter, comprising 8 new city additions. The fragrances and fashion accessories revenue grew by 12% YoY. Within businesses, revenue in fragrances grew by 9% YoY, and fashion accessories grew 18% YoY," the company said.

Brands owned by Titan

• Watches and wearables: Titan, Titan Clocks, Zoop, Octane, Xylys, Raga, Nebula, Fastrack, Fastrack Smart, Sonata, Titan Smart, SF, Titan World, Helios
• Jewellery: Tanishq, Zoya, Mia, Cartlane
• Eyecare: Titan Eye+, Fastrack Eyecare
• Indian dress wear: Taneira
• Fragrances and fashion accessories: Skinn, Titan Belts and Wallets, Bags by Fastrack, Irth