Ace Investor: Rakesh Jhunjhunwala’s favourite Tata Group Company is back in action!

Ace Investor made over Rs 600 crore in intraday gain on 7 July 2022.

Titan Company Ltd is among India’s most respected lifestyle companies. It has established leadership positions in the watches, jewellery, and eyewear categories led by its trusted brands and differentiated customer experience.

Q1FY23 was a near-normal first quarter after 2 years. Sales in Q1FY23 grew 205% YoY on a low base and clocked a 3-year CAGR of 20.5% over Q1FY20, the only non-disrupted first quarter in the last 3 years.

The jewellery segment reported robust sales on the auspicious occasion of Akshaya Tritiya in May 2022. On a low YoY base, Revenues nearly tripled, witnessing a growth of 207%. Watches and Wearables achieved its highest ever quarterly revenue in Q1FY23, growing 158% YoY with vigorous growth across all brands and products.

The EyeCare division’s growth of 176% YoY was led by both Titan Eye Plus (TEP) and Trade & Distribution channels.

Fragrances & Fashion Accessories, Indian Dress Wear Growth in Trade, LFS, and E-commerce channels contributed to a 271% yearly increase for the division. Individually, Fragrances grew at 262% YoY, whereas Fashion Accessories grew 293% YoY. Indian Dress Wear sales grew nearly seven times for the quarter (608% YoY).

Titan Engineering & Automation Limited (TEAL) (Wholly-owned) The Business grew by 35% YoY with both the divisions, Automation Solutions (AS) and Aerospace and Defence (AD) growing in line with the overall Revenues.

CaratLane (72.3% owned) achieved its highest ever sales on the day of Akshay Tritiya, 20% higher than Dhanteras of 2021.

As per the reports for the quarter that ended in March 2022, the Ace Investor and his wife Rekha, together, held a 5.05% stake in Titan. He owns 3.5 crore shares and his wife owns 95 lakh shares of the company.

The company has a 52-week high of Rs 2767.55 and a 52-week low of Rs 1661.85.

The company has announced a dividend of Rs 7.50 per Equity Share of Rs 1 each. The record date is 11 July which means the stock will turn ex-dividend today.

On Friday, 8 July 2022, at 11:55 am, the scrip is trading at Rs 2140.35, an increase of 0.58%.