Titan Q3 Outcomes 2025 Preview: Income development seen at 25% YoY, web revenue to be flat as a consequence of distinctive loss

Titan Q3 Outcomes Preview: Titan Firm is about to announce its earnings for the third quarter of FY25 on Tuesday, February 4. The Tata Group jewelry maker is anticipated to report an honest set of earnings in Q3FY25 led by robust festive demand and marriage ceremony season.

Analysts count on the profitability of Titan Firm within the quarter ended December 2024 to be muted as a consequence of one-time stock loss. Nevertheless, the corporate is anticipated to see stable gross sales development.

Titan’s income from operations in Q3FY25 is estimated to develop 25% YoY, whereas its web revenue is anticipated to stay flat because of the distinctive merchandise, based on common estimates of 5 brokerages. Adjusted web revenue is estimated to rise round 20% YoY.

Titan Q3 Replace

Titan Firm reported a standalone development of 24% year-on-year YoY in Q3FY25. The corporate’s mixed retail community presence (together with CaratLane and Worldwide) expanded by 69 shops (web) within the quarter to achieve 3,240 shops, based on Titan Firm’s Q3 enterprise replace.

Home Jewelry gross sales grew 25% YoY buoyed by robust festive demand. Sturdy shopper traction throughout ‘Diwali’ translated into excessive single-digit purchaser development together with double-digit ticket measurement development. Gold (plain) exhibited significantly robust momentum rising 24% YoY benefiting from elevated gold costs, the corporate stated.

Watches & Wearables enterprise within the home market grew 13% YoY, whereas EyeCare phase clocked a development of 17% YoY led by Retail and E-commerce, each on income and consumers.

In Rising Companies, Fragrances clocked a wholesome development of c.27%, Vogue equipment was decrease by c.20% and Taneira was flat YoY, respectively. Caratlane grew 25% YoY pushed by a robust 26% YoY development within the studded portfolio.

Titan Q3 Outcomes Preview

Motilal Oswal: The brokerage agency fashions 24% standalone income development (excl. bullion) and Tanishq LTL development of 15% in Q3FY25. It expects standalone Jewellery EBIT (ex-bullion) margin anticipated to say no 110 bps YoY to 11.1% as a consequence of discount within the studded share. Watches, eyewear and different companies are estimated to see wholesome double-digit development. Motilal Oswal expects stock lack of ₹200 crore – 250 crore in Q3 as a consequence of customs obligation discount.

Nuvama Institutional Equities: The brokerage agency estimates Titan’s income within the September-December quarter of FY25 to develop 24% to ₹16,168 crore from ₹13,052 crore within the year-ago interval. The web revenue is anticipated to fall 2% to ₹1,023 crore from ₹1,040 crore, YoY. It builds a 12% margin for the jewelry phase margins earlier than adjusting for stock losses on customized obligation cuts, given the deal with market share beneficial properties.

Nuvama expects Titan’s Q3 EBITDA to rise 11% to ₹1,622 crore from ₹1,457 crore YoY, up 11% YoY, whereas EBITDA margins drop to 10% from 11.2% YoY.

Kotak Institutional Equities: Income development is seen at 22.3% YoY to ₹15,958 crore. Kotak Equities estimates one-time stock loss at ₹275 crore, which will likely be categorized as an distinctive merchandise. Thus, adjusted revenue after tax (PAT) is seen rising 19.2% YoY to ₹1,239 crore.

EBITDA in Q3FY25 is anticipated to rise 24.9% YoY to ₹1,819 crore, whereas EBITDA margin is estimated to enhance by 23 foundation factors (bps) YoY to 11.4%.

Titan Firm’s FY2025E consolidated jewelry EBIT margin steering band is 11.0% – 11.5%, revised from 11.5% – 12.5% in Q2. We estimate 11.5% and 9% EBIT margin for watches and eyewear segments in Q3FY25, Kotak Equities stated.

At 3:00 PM, Titan shares had been buying and selling 0.75% increased at ₹3,579.20 apiece on the BSE, commanding a market capitalisation of over ₹3.17 lakh crore.

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