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Time of India
27-05-2025
- Business
- Time of India
Plain & Simple, Titan Seems to be Having a Great Time
HighlightsTitan Company shares rose nearly 7.4 percent following the announcement of a 19.4 percent increase in revenue and a 13 percent rise in net profit for the fourth quarter. The company plans to open 40-50 new Tanishq stores in fiscal year 2026 while renovating or relocating 50-60 existing stores to enhance its market presence. Emkay Global Financial Services noted that Titan Company faced challenges from high gold prices affecting consumer sentiment, prompting the introduction of a 9-carat collection in its Caratlane business to make jewellery more affordable. Titan Company shares have gained nearly 7.4 per cent after declaring double-digit revenue and profit growth for the fourth quarter on May 8, outperforming the 5 per cent gain in the BSE Durables index amid a volatile broader market. The jewellery and watch maker is expected to continue reporting strong momentum driven by increase in ticket sizes and reach. It plans to open 40-50 new Tanishq stores in FY26 while aiming to renovate, relocate or enlarge 50-60 existing stores. According to Emkay Global Financial Services , Titan observed an impact on consumer sentiment due to high gold prices , in gold jewellery, within the sub-₹50,000 price band. In the higher price band, buyer growth was seen with higher demand for simple designs that attracted lower making charges. To offer more options to consumers amid steep gold prices, Titan has introduced a 9-carat collection in its Caratlane business to make products affordable. Higher gold prices also increased the company's finance cost to ₹252 crore in the March 2025 quarter from ₹201 crore in the year-ago quarter. Jewellers and manufacturers tend to lease gold from bullion banks instead of maintaining their own inventories of the precious metal to reduce the risk of price volatility. Gold-on-lease (GOL) rates shot up recently, adding to the woes of gold users. The company mentioned during the analyst call after declaring quarterly result that overall gold price increase has a larger impact for the full year. GOL rates have been settling down and are now about 75-80 bps above the historical number after nearly doubling. Revenue from operations and net profit grew by 19.4 per cent and 13 per cent on-year to ₹14,916 crore and ₹871 crore. Ebitda margin rose by 10 bps on year to 11.9 per cent in March quarter. Centrum Broking expects Titan to benefit from launch of new designs and rising share in wedding jewellery . After considering lower FY25, it has cut earnings for FY26 and FY27 by 13 per cent and 6 per cent and have changed rating from 'buy' to 'add' with a P/E of 60 for FY27 and target price of ₹3,960.
Economic Times
27-05-2025
- Business
- Economic Times
Can Titan maintain strong growth despite challenges from high gold prices?
The company mentioned during the analyst call after declaring quarterly result that overall gold price increase has a larger impact for the full year. GOL rates have been settling down and are now about 75-80 bps above the historical number after nearly doubling. According to Emkay Global Financial Services, Titan observed an impact on consumer sentiment due to high gold prices, in gold jewellery, within the sub-₹50,000 price band. In the higher price band, buyer growth was seen with higher demand for simple designs that attracted lower making charges. To offer more options to consumers amid steep gold prices, Titan has introduced a 9-carat collection in its Caratlane business to make products affordable. Tired of too many ads? Remove Ads ET Intelligence Group: Titan Company shares have gained nearly 7.4% after declaring double-digit revenue and profit growth for the fourth quarter on May 8, outperforming the 5% gain in the BSE Durables index amid a volatile broader market. The jewellery and watch maker is expected to continue reporting strong momentum driven by increase in ticket sizes and reach. It plans to open 40-50 new Tanishq stores in FY26 while aiming to renovate, relocate or enlarge 50-60 existing to Emkay Global Financial Services , Titan observed an impact on consumer sentiment due to high gold prices , in gold jewellery, within the sub-₹50,000 price band. In the higher price band, buyer growth was seen with higher demand for simple designs that attracted lower making charges. To offer more options to consumers amid steep gold prices, Titan has introduced a 9-carat collection in its Caratlane business to make products gold prices also increased the company's finance cost to ₹252 crore in the March 2025 quarter from ₹201 crore in the year-ago quarter. Jewellers and manufacturers tend to lease gold from bullion banks instead of maintaining their own inventories of the precious metal to reduce the risk of price volatility. Gold-on-lease (GOL) rates shot up recently, adding to the woes of gold company mentioned during the analyst call after declaring quarterly result that overall gold price increase has a larger impact for the full year. GOL rates have been settling down and are now about 75-80 bps above the historical number after nearly from operations and net profit grew by 19.4% and 13% on-year to ₹14,916 crore and ₹871 crore. Ebitda margin rose by 10 bps on year to 11.9% in March quarter. Centrum Broking expects Titan to benefit from launch of new designs and rising share in wedding jewellery. After considering lower FY25, it has cut earnings for FY26 and FY27 by 13% and 6% and have changed rating from 'buy' to 'add' with a P/E of 60 for FY27 and target price of ₹3,960.
Business Standard
22-05-2025
- Business
- Business Standard
Emkay Global Financial Services consolidated net profit declines 19.60% in the March 2025 quarter
Sales decline 22.02% to Rs 70.38 crore Net profit of Emkay Global Financial Services declined 19.60% to Rs 8.49 crore in the quarter ended March 2025 as against Rs 10.56 crore during the previous quarter ended March 2024. Sales declined 22.02% to Rs 70.38 crore in the quarter ended March 2025 as against Rs 90.25 crore during the previous quarter ended March 2024. For the full year,net profit rose 75.18% to Rs 56.83 crore in the year ended March 2025 as against Rs 32.44 crore during the previous year ended March 2024. Sales rose 18.06% to Rs 333.35 crore in the year ended March 2025 as against Rs 282.36 crore during the previous year ended March 2024. Particulars Quarter Ended Year Ended Mar. 2025 Mar. 2024 % Var. Mar. 2025 Mar. 2024 % Var. Sales 70.3890.25 -22 333.35282.36 18 OPM % 0.1614.27 - 16.289.37 - PBDT 4.2419.66 -78 72.3752.22 39 PBT 0.9516.60 -94 60.7342.42 43 NP 8.4910.56 -20 56.8332.44 75
Business Recorder
14-05-2025
- Business
- Business Recorder
India's benchmarks inch higher as tech, metal stocks gain
India's benchmark indexes ended higher on Wednesday, helped by a rise in information technology stocks on easing U.S. recession fears and in metals companies as the U.S. dollar weakened. The Nifty 50 rose 0.36% to 24,666.90 and the BSE Sensex gained 0.22% to 81,330.56. They had risen about 0.7% earlier, before trimming gains. 'There will be instances of profit taking in the very near term as hot FPI (foreign portfolio investors) money is likely to move to China due to the U.S.-China trade truce,' said Narendra Solanki, head of research at Anand Rathi. Financials, which have relatively higher FPI ownership than other sectors, dropped 0.23% on the day. Still, ten of the 13 major sectors advanced on the day. The overall outlook for domestic markets remains positive, as cooling domestic inflation will allow the central bank to ease interest rates further, and that, in turn, will boost both economic growth and corporate profits, Solanki said. India's retail inflation slowed to a near six-year low on Tuesday. Indian stocks log best day in 4 years on border truce; Pakistan shares surge IT companies, which get a significant chunk of their revenue from the United States, gained 1.34%. The low probability of a U.S. recession due to easing trade worries makes IT a good play as valuations are reasonable, said Jaykrishna Gandhi, head of business development of institutional equities at Emkay Global Financial Services. A drop in the dollar due to benign U.S. inflation data and easing trade tensions also boosted metal stocks by 2.46%. Tata Steel surged 3.93% with multiple brokerages highlighting strong volume growth and cost optimisation as key positives for the company. The broader small-cap and mid-cap indexes rose 1.44% and 1.11% each. Anand Rathi's Solanki said that was mostly as certain key constituents gained after posting upbeat results.
Business Recorder
06-05-2025
- Business
- Business Recorder
India's Bank of Baroda expects margin pressure to persist for two more quarters
BENGALURU: India's Bank of Baroda expects margin pressure to continue through the second quarter of this fiscal, after a drop in fourth-quarter margins and core lending income sent its shares tumbling over 10% on Tuesday. The company's net interest income, or the difference between interest earned on loans and paid on deposits, fell to 110.20 billion rupees ($1.31 billion) for the quarter ended March 31 from 117.93 billion rupees a year earlier. Its domestic net interest margin dropped to 3.02% from 3.45% earlier. CEO Debadatta Chand said at a press conference that the state-owned lender anticipates margin pressure to persist for the first two quarters of this fiscal year, which started on April 1. He did not provide details. Shares of Bank of Baroda, India's third-largest state-run lender by assets, fell more than 10% after the results. The stock was the biggest loser on the Nifty PSU bank index, which settled nearly 5% lower. Indian lenders have grappled with tighter liquidity conditions for the last few quarters, forcing them to pay higher interest to attract customer deposits. Bank of Baroda's interest paid on deposits jumped 10% compared to a 3.3% rise in interest earned on loans. Domestic cost of deposits jumped to 5.33% from 5.11% a year earlier. The lender's cost of deposits peaked in the fourth quarter, CEO Chand said. 'These are weak results from Bank of Baroda, said Anand Dama, head of BFSI at Emkay Global Financial Services, with 'margins and slippages disappointing investors.' Fresh slippages, or loans classified as bad for the first time, rose to 28.73 billion rupees during the quarter from 28.55 billion rupees a year earlier and 25.03 billion rupees in the previous quarter.
