Titan Share Price: Understanding Q1 Performance

The Tata Group company’s lackluster performance in the jewelry division during the first quarter of FY25 disappointed the market, and the Titan share price fell more than 3% in early Monday trade. Titan shares continued to decline for the fifth trading session, plunging as high as 3.46% to ₹3,156.15 apiece on the BSE.

In Q1 FY25, Titan Company saw 9% year-over-year (YoY) growth, the company reported in its quarterly business update on July 5. Due to a decrease in wedding days and a spike in gold prices, consumer demand was poor, resulting in an 8% YoY growth in its domestic jewelry business. According to the corporation, buyer growth was in the low single digits while domestic growth was mostly driven by increases in average selling prices.

Despite Q1 Slump, Titan is Expected to Achieve Significant Growth Over the Three Years

During the June 2024 quarter, Titan Company added 61 stores (net), bringing the total number of locations in its combined retail network to 3,096. However, because of the slump in the jewelry industry, Titan’s Q1 FY25 quarter performance fell short of Antique Stock Broking’s forecasts.

Given Titan Company’s capacity to increase market share across regions on the strength of its execution and brand, Antique Stock Broking is still bullish about the company in the long run. It projects a 21%–28% compound annual growth rate in revenue and profitability for Titan over FY24–27E. With a target price of ₹4,490 per share, the brokerage firm kept its “Buy” recommendation on Titan shares.

• In a month, Titan’s share price dropped by almost 8%, and in three months, it dropped by 16%.
• Year-to-date (YTD), the stock has been down more than 14%.
• Titan shares were down 3.38% at ₹3,158.70 a share on the BSE at 9:20 a.m.

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