Quarterly Results: Titan Company Ltd

Technical View: 

Titan Company Ltd., is currently trading at Rs. 364.65, down by 12 points or 3.19% from its earlier closing of Rs. 376.65 on the BSE.

The scrip touched a high and low of Rs. 377.4 and Rs. 361.4 respectively, after opening at 376.55. By far 2514382 (NSE+BSE) shares in totality were traded on the counter; and the stock is currently trading above its 100 DMA.

Standalone Results Q2FY17: (Rs. in crore)


***EBITDA margin change is bps

Street estimates were higher than Titan Company Ltd’s actual Q2FY17 standalone numbers. Its reported net revenue has decreased 14.5% versus the estimated figure of Rs 3130 cr. EBITDA too has dropped 3% as against the estimates of Rs 286 cr. Net profit for the quarter has come in 8.7% lower than the estimate of Rs 198 cr.

Titan's net revenue for the quarter has come in at Rs 2677 cr, which was in conjunction with the corresponding quarter of previous year.

The company's reported EBITDA has surged by 37.1% yoy to Rs 277 cr led by EBITDA margins increasing by 282 bps yoy to 10.4%. This was triggered by 8.8% yoy fall in cost of goods sold.

Net profit  has surged 23.5% to Rs 181 cr for the corresponding period last year. Net profit growth is considerably lower owing to 34% increase in finance cost and an exceptional item of Rs 3 cr.