Titan’s ₹11 Dividend Sparkles, But Q4 Profit Misses the Mark-What’s Next for the Jewellery Giant?

Image Source: Moneycontrol

Titan Company Ltd announced a final dividend of ₹11 per share for FY25, while its March quarter numbers saw robust sales but a net profit that fell below market expectations.

Highlights:

Dividend Announcement:

The Board has declared the final dividend of ₹11 per equity share. June 27, 2024, is the ex-dividend date and June 28, 2024, is the record date. It is Titan's practice of rewarding the shareholders in the wake of last year's ₹10 per share dividend.

Q4 Financial Performance:

Consolidated product sales during the March quarter were at ₹138.97 billion, reflecting strong growth in jewellery, watch, and eyewear businesses. The jewellery business, in particular, kept its run going with a strong double-digit growth.

Profit Short of Expectations

Net profit for Q4 was ₹8.71 billion, which while good, fell short of IBES estimate of ₹12.20 billion. The miss was due to margin compression and higher operating expenses, even as revenue overall grew.

Business Growth:

Titan continued its speedy growth in the retail sector by ending the quarter with over 2,700 stores nationwide. Its focus on new product launching and premiumising helped it stick to its sector leadership in lifestyles and jewellery products.

Market Leadership:

Titan is still a segment leader with nearly ₹3 lakh crore market capitalisation and an uninterrupted dividend pay-out and store growth history.

Titan Q4 numbers show the resilience of the company in maintaining sales growth and maintaining shareholders' focus on returns in spite of short-term challenges to margins.

Source: INDmoney, Economic Times, Fortune India

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