Q1 2025 Titan Company Ltd Earnings Call Transcript
Key Points
- Titan Co Ltd (BOM:500114) reported an overall growth of around 9% for the quarter.
- The company plans to expand its jewelry stores, targeting 40-50 new Tanishq stores and 70-80 Mia stores.
- Cost optimization measures have led to a 20 basis points improvement in Q1 margins.
- The company has seen a significant upswing in gold and studded jewelry sales post the reduction in customs duty.
- The Watches and Wearables segment, particularly Fastrack, has shown strong volume growth of 16% due to product innovation and premium offerings.
- The rising gold prices and fewer wedding dates have posed consumption challenges.
- Competitive intensity in the jewelry market has increased, impacting growth.
- The company faces potential margin pressures depending on future gold price movements.
- There is a significant difference in control and stand-alone profit, partly due to losses in the international business.
- The impact of the custom duty cut on gold on lease has led to a one-off charge affecting the P&L.
Ladies and gentlemen, good day, and welcome to the Titan Company Limited Q1 FY25 earnings conference call.
(Operator Instructions) Please note that this conference is being recorded. I now hand the conference over to Mr. CK Venkataraman, Managing Director, Titan Company Limited. Thank you, and over to you, sir.
Thank you very much. Hello, everyone, on the call. So quarter one of FY25 was characterized by multiple external factors, the rising gold price on the one hand, a relatively lower number of bidding dates in the country across India, super-heated summer, especially starting late April, all the way into June and multiple excitements caused by the elections leading up to the results on the Fourth of June and thereafter.
And on account of all this, there was an overall consumption challenge that you must have read across the board and our different businesses performed differently in this context. And we shared this through the filing
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