Quarterly Update – Q3 FY 2022-23
Going places. Aggressive expansion. From Newyork to Andaman 
3QFY22-23 QUARTERLY RESULTS
CONCALL
CONCALL TRANSCRIPT
FINANCIALS
PRESENTATION
https://www.bseindia.com/xml-data/corpfiling/AttachLive/32464b64-465d-4a5f-9750-b3c38e1fc275.pdf
Currently the company’s market share in many of the categories, such as jewelry, eye care, wearables, smart wearables and sarees, is very low, the MD said.
A month after opening its first American outlet, Tanishq, India’s leading jewelry retail brand from the house of Tata, feels that the United States offers “huge opportunities” for not only itself but also for other Indian retail brands as well. This is mainly attributed to the large presence of Indian Diaspora in the country, who are among the highest per-capita income, but also because of the interest in India, its culture and products among the Americans.
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“The opportunity is huge. Just from an Indian diaspora perspective, a South Asian diaspora perspective, and then even beyond that, the opportunity is huge. If you just focus on, let’s say the Indian diaspora part, the people here, and that is an important part of our decision to enter here,” said Amrit Pal Singh, business head- North America, Titan Company that runs the chain of jewelry stores in both India and overseas under the brand of Tanishq.
Not fair. Should have been under Titan. But Titan/Helios online shop is not upto the mark.
Hopefully future planned physical stores come under Titan.
Q4FY22-23 QUARTERLY RESULTS
CONCALL
TRANSCRIPT
FINANCIALS
https://www.bseindia.com/xml-data/corpfiling/AttachLive/26cb7c49-fac5-4249-b393-0be6a71b4f01.pdf
PRESENTATION
https://www.bseindia.com/xml-data/corpfiling/AttachLive/ce70ef38-a3f4-46a0-8fcf-51451d73d7ec.pdf
Q1FY23-24 QUARTERLY RESULTS
Concall
Financials
Presentation
https://www.bseindia.com/xml-data/corpfiling/AttachLive/6d475788-18fb-4256-a5cf-f966f351a27e.pdf
Why in CNBC article its written that revenue has increased by 19%, while in just above chart shows 24% increase?
Both numbers are correct.
Chart shows Revenue From Operations which has grown by 24%
However In Jewellery Revenue, Bullion Sales is excluded.
Pl refer to the ppt and read along with the financials which clarifies this point.
Summary
- Exchange is a huge opportunity, and we were seeing that in a market – see, what happened in
Quarter 1 also there’s a lot of volatility in gold prices and significant high level of gold price,
which remained for at least 2 months out of the 3 months.
As a consequence, it was an intentional response to that market situation to solve for the
consumers’ uncertainty. During a wedding season should I buy, not buy, there was a lot of
confusion for customers. And we said it’s better to solve for the customer. And therefore, we
went keeping the customer in mind, not so much competition in this case. - Volume growth in the jewellery segment was driven by buyer growth in both gold jewellery and gold jewellery plus gold coins. The company is targeting a 7% market share of the INR 450,000 crore overall jewellery market. The company is expecting to gain a percentage point in market share year-on-year and has successfully done so in the past. The company is targeting a double-digit market share in the next 3-4 years. The margin has settled around 11.5 and is expected to remain at that level until Q2 end. The company is expecting inventory buildup for the festive season to remain at an elevated level until Q2 end.
- Wedding demand has been a challenge for many companies, with the specific activation being more related to the gold exchange program. The growth in wedding demand has been due to the lagan markets, specifically eastern markets. The growth in wedding demand is expected to continue in the next three quarters, with the increase in capital employed being due to the gold exchange program.
- -Titan plans to open 30-40 new stores in India this year, up from the 20-25 stores opened in 2018.-The company plans to increase its e-commerce contribution to 7-8% of total sales, up from 6-7% in 2018.
-Titan plans to infuse capital in its TEAL and CaratLane businesses, but does not plan to raise equity.
-Titan plans to increase its gold mark-up rationalization program, but does not expect this to have a significant impact on gold prices. - NK is seeing a higher exchange rate, likely because gold prices themselves have become quite high on an absolute basis. This has caused margin dilution, but does not appear to be affecting the company’s growth trajectory. The overseas jewellery business is doing well, and the company is targeting other markets like Singapore, Australia, and looking to source locally for products required in those markets.
- The company is expecting competitive pressures to remain high, but is confident in its brand and product offerings to protect margins. Margin protection will come from geographic and product mix considerations, as well as consumer sentiment.
- The company’s retail stores and product offerings are substantially higher than those of competitors, and this has led to a reduction in the cost of retailing. The company’s growth strategy is to focus on increasing sales and profitability, rather than margin expansion. The company’s wearables business is growing rapidly and is highly margin accretive. The company’s brand-building initiatives are focused on increasing sales and market share in existing markets as well as new markets.
- Discusses the company’s recent successes, including increased revenue and market share. It also discusses the company’s plans for the upcoming wedding season, which is expected to be a strong one. Finally, the conference concludes with Mr. Venkataraman’s comments.
Titan Eyecare, a division of Titan Company, has forayed into a new vertical with the launch of its audiology segment in partnership with WS Audiology.
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As part of this collaboration, Titan has set up diagnostic tests at select stores aimed at assessing hearing capabilities and recommending suitable hearing aids (if needed).
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Having specialised in optometry for the past 15 years, Saumen Bhaumik, CEO of Eyecare Division at Titan Company explained that the company’s research extended to other sensory organs, such as the ears. The amalgamation of audiology and optometry has demonstrated success stories, and certain progressive regions globally have already entered this domain, he added.
Met a friend who is using Bluetooth enabled glasses (frame). He was very impressed about audio quality. Mentioned he does not have to carry an extra piece of gadget ( earphones) which he keeps forgetting/loosing.
This is super exciting, taking technology to next level.
Q2FY23-24 Quarterly Result
https://business.ians.in/detail/titan-company-books-rs940-crore-pat-for-q2--20231103153605
Quarterly Concall
Presentation
https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=27c7a225-cfb5-4ee1-ae82-6ed4696d8ddd.pdf
Financial
https://www.bseindia.com/stockinfo/AnnPdfOpen.aspx?Pname=49977948-8d0f-433b-aaca-8c0211f7c3d2.pdf
I have a question as Titan has 7% market share in the jewellery space, if I am right- when there is so huge scope for growth- why they entered in saree segment.
To be honest if people want saree , the brand name of Taniera doesnt appear.