Q2 2025 Titan Company Ltd Earnings Call Transcript
Key Points
- Titan Co Ltd (BOM:500114) reported a strong growth performance in Q2 FY25, particularly in the jewelry segment.
- The company experienced healthy buyer growth in studded jewelry, with double-digit growth across price bands.
- Wedding jewelry demand has picked up following the custom duty reduction announcement, indicating positive consumer sentiment.
- The analog watch segment is seeing good growth due to strong product design, innovation, and premiumization.
- Titan's international business and emerging segments like eye care and perfumes are performing well, contributing to the overall positive outlook.
- The jewelry segment faced a 270 basis point drop in margins due to a weaker studded mix and higher gold component purchases.
- The demand for large carat solitaire stones is under pressure due to price uncertainties and international demand-supply issues.
- The company has adjusted its FY25 margin guidance for jewelry to 11% to 11.5%, down from the previous 11.5% to 12.5%.
- Competitive intensity in the gold segment has increased, leading to more aggressive pricing strategies.
- The impact of the custom duty reduction resulted in a significant one-time loss, affecting the company's financials.
Ladies and gentlemen and welcome to Q2 FY25 earnings conference call of Titan Company Limited. (Operator Instructions) Please note that this conference is being recorded. I now hand the conference over to Mr. C.K. Venkataraman, Managing Director from Titan Company Limited. Thank you and over to you, sir.
Thank you very much. Good evening everyone on the call. It's good to join you immediately after a wonderful Diwali. Happy Diwali. Belated to all of you. And we're also happy to do this call on top of a good growth quarter in Q2.
I would like to circle back at the end of the call to give my broader comments on the company and the various parts. Now, I can hand over to the people who would like to ask us questions, please.
Questions & Answers
Thank you very much.
We will now begin the question-and-answer session. (Operator Instructions) Devanshu Bansal, Emkay Global.
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