#Titan

4QFY21 Result - First Cut

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@dmuthuk

(1/n)
Standalone Revenue increased by 61.1% YoY to INR 71.3bn. (Consensus Estimate : 70bn)

2/n
EBITDA grew by 32% YoY to INR 7.9bn with EBITDA margin contraction of 248bps YoY to 11.1%. (Consensus Estimate : 7.4bn)

3/n
Recurring PAT grew 48% YoY INR 5.3bn. (Consensus Estimate: INR 5.6bn)

4/n
Standalone jewellery revenues grew by 71% YoY to INR 64.2bn and EBIT grew by 32% YoY INR 7bn. EBIT Margins contracted by 327bps YoY to 10.9%.

5/n
Watches revenue was flat at INR 5.6bn and EBIT declined by 36% YoY to INR 460mn. EBIT Margins contracted by 467bps YoY to 8.3%.

6/n
Eyewear revenue grew by 18% YoY to INR 1.3bn and EBIT stood at INR 230mn with margins at 18.1%. ( as against INR 18mn in 4QFY20)

7/n
The company's retail chain stands at 1909 stores as on 31ST March 2021 for all its brands.

8/8

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More from @MlnDollarMinds

30 Apr
Consolidated Revenue +59% YoY to Rs 74940mn
EBIDTA +33% YoY to Rs 8170mn || EBIDTA margins 10.9% v/s 13% YoY
(Jewellery business has lower gross margins+ some one offs including lower studded share, sale bullion and higher gold coin sale impacted gross margins further) (2/n)
PBT +43% YoY to Rs 7300mn
PAT +66% YoY to Rs 5680mn (mainly on a/c of lower YoY tax rate at 22.2% v/s 32.6% YoY) (3/n)
Read 6 tweets
12 Apr
Diageo-Backed United Spirit May Sell Mass (popular) Brands
Β 
#UnitedSpirits (#UNSP)

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@dmuthuk @Kiran24Rajput

(1/n)
UNSP, a unit of drinks major Diageo, has tasked investment bank Morgan Stanley to find potential buyers for select β€œpopular” mass-priced brands as it looks to take on French rival Pernord Ricard and adopt a premiumisation strategy

2/n
For the year ended 31 March 2020, UNSPs "prestige and above" segment represented 65% of its total net sales and 51% of total sales volume.

3/n
Read 8 tweets
27 Feb
#TITAN at a webinar organised by Kotak Securities

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@dmuthuk

(1/n)
Smaller players facing credit challenges. A few of the smaller jewelry players are seeing some stress in terms of bank limits, which has not increased for them commensurate to the gold price increase. Nevertheless, several players have done well in 3QFY21.

(2/n)
Recent demand trends. Geographically, South saw the strongest growth, led by the state of Tamil Nadu. The West market (mainly Mumbai and Pune) was impacted the most. Delhi too was impacted but has largely bounced back.

(3/n)
Read 13 tweets
27 Feb
#HDFCLife at a webinar organised by Kotak Securities

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@dmuthuk

@Kiran24Rajput

(1/n)
Balanced product mix helped HDFC Life fare better than industry average in 9MFY21. The company increased its market share in individual APE by >210 bps in 9mFy21.

(2/n)
Usually, most companies have a diversified product bouquet but focus on select product segments only. However, HDFC Life has enabled its feet-on-street to switch between product classes.

(3/n)
Read 16 tweets
27 Feb
#TataSons -

N CHANDRASEKARAN:

2020-2030: DECADE OF TRANSFORMATION FOR INDIA AND THE TATA GROUP
Courtesy - #kotakSecurities
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(1/n)
Over next decade, Group’s vision is to ensure digital transformation for each of its companies – whether engaged in capital-intensive B2B or niche B2C. Other new initiatives include: digital app where work is on in full swing and making a transformation to EVs in Tata Motor.

(2)
Tata Steel. Indian steel business generates significant financial returns, but European business is lagging. European steel also had a lot of leverage, but recent initiatives will ensure that it will not impact Tata Steel’s overall outlook. (3/n)
Read 8 tweets
27 Feb
#ITC - SANJIV PURI: Chairman and Managing Director at a webinar organised by Kotak Securities

Key takeaways from his address

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@dmuthuk (1/n)
FMCG business: setting up for the long-haul. ITC highlighted the sharp margin improvement witnessed over recent quarters, underlining aspirations to achieve industry- leading profitability in the FMCG business.

(2/n)
*FMCG contd*: The company has pushed ahead on the strategic imperative to focus on low penetration/low per capita consumption categories which offer long-term growth runways.

(3/n)
Read 14 tweets

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