INSUBCONTINENT EXCLUSIVE:
Shares of Titan Company hit a fresh all-time high of Rs 1044.30 in early trade on Monday after the company reported a 45.97 per cent rise in
consolidated net profit to Rs 411.09 crore for the third quarter ended December 2018 on Friday.
It had had posted a net profit of Rs 281.61
crore in the corresponding period last fiscal.
The scrip gained as much as 5.35 per cent to Rs 1044.30 at around 9.40 am (IST), while the
BSE Sensex was trading 152 points down at 36,317.30
Total income during the quarter stood at Rs 5,934.11 crore, up 35.34 per cent against a total income of Rs 4,384.4 crore in the year-ago
months of FY2019 on the back of strong growth in the jewellery business and a gradual recovery in the watches business
CAGR of 16 per cent and 22 per cent over FY2018 to FY2021
High valuations are fully justified for a business that has perhaps the best topline growth visibility in the large cap FMCG/Retail space
