Titan Q2 preview: Titan Company, a leading player in the watch, jewellery, and eyewear categories, is all set to release its financial results for the quarter ended September 30 on Friday, November 3. According to Zee Business Research estimates, the Tata Group company will post standalone revenue of Rs 10,476 crore, up 20 per cent against Rs 8,730 crore logged in the year-ago period.

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However, the company's EBITDA, or earnings before interest, taxes, depreciation, and amortisation, is estimated to decline 4 per cent YoY to Rs 1,183 crore against Rs 1,234 crore registered in the corresponding quarter of the previous fiscal. Margins are estimated to come in at 11.3 per cent against 14.1 per cent in the year-ago period. However, it must be noted that the base year had a 200 basis point (bps) one-off adjustment in margins.

Net profit, or profit after tax (PAT), is expected to decline 5 per cent YoY to Rs 815 crore.

Titan Company Q2 update 

The company reported a 20 per cent growth in standalone revenue for the second quarter ended September 30, 2023. During the period, it added 81 stores across verticals, taking the group's retail presence to 2,859 outlets, according to a quarterly update by Titan.

Its jewellery division reported a revenue growth of 19 per cent.

Building on the positive first-quarter momentum, domestic consumer sales (secondary) exhibited strong year-on-year growth and were led by a double-digit increase in buyers and ticket sizes.

The Jewellery Division added 39 stores, taking the total count to 598.

The Watches & Wearables (W&W) Division's domestic business grew 32 per cent. This comprises 22 per cent growth in the Analog watches and over two-fold growth in Wearables.

"The wearables category's nearly 2.5X year-on-year (YoY) growth propelled the segment's share to mid-teens in the W&W portfolio," it said.

The segment added 20 new stores in the quarter, consisting of 10 in Titan World, five in Helios, and five in Fastrack, respectively.

Over the 'EyeCare' segment, Titan said it "witnessed sales growth of 12 per cent YoY." International brands grew faster as compared to house brands. The division added four new Titan Eye+ and one new Fastrack store to the domestic market during the quarter.

Fragrances & Fashion Accessories (F&FA) grew 4 per cent YoY. This was driven by 14 per cent growth in fragrances and 12 per cent growth in fashion accessories, the updates said.

Its Indian Dress Wear business, Taneira, "sales grew 64 per cent YoY, and the brand opened four new stores during the quarter."

With inputs from PTI