Titan Industries declared its results for the first quarter of financial year 2018 (1QFY18). While topline growth was 42.2% YoY, net profit grew by 101.2% YoY during the quarter. Here is our analysis of the results.
(Rs m) | 1QFY17 | 1QFY18 | Change |
---|---|---|---|
Net sales | 28,272 | 40,213 | 42.2% |
Expenditure | 25,402 | 36,564 | 43.9% |
Operating profit (EBDITA) | 2,869 | 3,649 | 27.2% |
EBDITA margin (%) | 10.1% | 9.1% | |
Other income | 134 | 283 | 110.7% |
Interest | 88 | 108 | 22.4% |
Depreciation & amortisation | 263 | 295 | 12.2% |
Exceptional items | -969 | -103 | |
Profit before tax | 1,683 | 3,426 | 103.5% |
Tax | 468 | 1,038 | 121.6% |
Profit after tax | 1,215 | 2,388 | 96.6% |
Share of associates | -6 | -8 | |
Minority interest | 0 | -53 | |
Profit after share of associates and minority | 1,209 | 2,432 | 101.2% |
Net profit margin (%) | 4.3% | 5.9% | |
No. of shares (m) | 887.8 | ||
Reported earnings per share (Rs)* | 9.4 | ||
P/E (x)* | 64.5 |
1QFY17 | 1QFY18 | Change | |
---|---|---|---|
Watches | |||
Revenue (Rs m) | 4,997 | 5,118 | 2.4% |
% of total revenues | 17.6% | 12.7% | |
EBIT margin | 0.8% | 7.8% | |
Jewellery | |||
Revenue (Rs m) | 21,506 | 33,522 | 55.9% |
% of total revenues | 75.9% | 83.3% | |
EBIT margin | 9.5% | 9.6% | |
Eyewear | |||
Revenue (Rs m) | 1,105 | 1,107 | 0.2% |
% of total revenues | 3.9% | 2.7% | |
EBIT margin | 2.7% | 2.9% | |
Others | |||
Revenue (Rs m) | 714 | 510 | -28.6% |
% of total revenues | 2.5% | 1.3% | |
EBIT margin | -11.7% | -19.0% | |
Total* | 28,322 | 40,257 |
DISCLOSURES UNDER SEBI (RESEARCH ANALYSTS) REGULATIONS, 2014
|
INTRODUCTION:
Equitymaster Agora Research Private Limited (hereinafter referred to as "Equitymaster"/"Company") was incorporated on October 25, 2007. Equitymaster is a joint venture between Quantum Information Services Private Limited (QIS) and Agora group. Equitymaster is a SEBI registered Research Analyst under the SEBI (Research Analysts) Regulations, 2014 with registration number INH000000537. BUSINESS ACTIVITY: An independent research initiative, Equitymaster is committed to providing honest and unbiased views, opinions and recommendations on various investment opportunities across asset classes. DISCIPLINARY HISTORY: There are no outstanding litigations against the Company, it subsidiaries and its Directors. GENERAL TERMS AND CONDITIONS FOR RESEARCH REPORT: For the terms and conditions for research reports click here. DETAILS OF ASSOCIATES: Details of Associates are available here. DISCLOSURE WITH REGARDS TO OWNERSHIP AND MATERIAL CONFLICTS OF INTEREST:
If you have any feedback or query or wish to report a matter, please do not hesitate to write to us. |