Titan sparkles, but stock remains pricey
- Titan is set for a strong FY23, but the high base may pose a challenge for growth in FY24.
Titan Co. Ltd’s September quarter results (Q2FY23) have many bright spots. Standalone earnings before interest and tax (Ebit) margin of Titan’s mainstay jewellery business was 15.3% last quarter, clocking about 180 basis points (bps) increase, sequentially. One basis point is 0.01%.