Titan typically comes out with a launch about the quarterly overall performance. The sales numbers are already greater or less regarded and so there is probably a zero.Five% up or down in comparison to what we are waiting. We are looking forward to an 18% growth in the jewelry commercial enterprise. I do not think the numbers may deviate much from that. The vital aspect and the most important attention from the quarterly effects can be at the margins for the jewelry enterprise.
That is the key number to be searching out for in those quarterly numbers due to the fact inside the base quarter, the margins have been appreciably excessive. Whether they’re able to deliver on those margins and whether margins can stabilize or they can amplify similarly goes to be the key quantity to watch out for on this area.
Apart from that, the other segments also are doing moderately well. The most effective issue can be on the growth in terms of profitability and running profit numbers.
Can I properly say that inside the cutting-edge and subsequent two quarters, Titan may even experience the heat? You cannot have a scenario where vehicles are slowing down, patron discretionary is slowing down, human beings aren’t shopping for cleaning soap and shampoo but they will preserve to shop for jewelry.
Yes, that could very an awful lot happen due to the fact the whole slowdown in the intake % isn’t very clear. So, till mid-February, things were now not so awful or had been fairly okay. Post-February, matters commenced looking pretty slow. How it has panned out and whether elections are a reason for that, there’s no splendid historic priority to help this or a structural slowdown that we are witnessing in the intake area.
We get clarity on that during some other sector or so. But as of now, if the slowdown is greater structural, then Titan will also begin feeling the warmth in 1 / 4 or so.
Can a number of the client names get into each time and charge correction because PE multiples are multiplied?
See what normally takes place with intake shares or stocks which do not need a great deal of capital to run their corporations is until and until there may be an extreme compression in margins, allow us to say Hindustan Unilever is at 23% sort of an EBITDA margin and if the margins have been to begin compressing pretty a piece from the modern-day ranges, then we are going to see a critical compression in PE.
Otherwise, it is more likely to be a time correction where the inventory might be sideways in let us say plus to minus five-6% kind of a sector. But due to the rising aggressive intensity and a slowdown where they may be now not able to take rate hikes and then the cost shape transferring up, we can begin seeing compression in margins and that is while the PE compression will sincerely happen.
If that is not going to show up, margins will continue to be solid for the intake and customer corporations. We are more likely to peer the PE stay in the band. There might not be a great PE correction.

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