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Titan Q4FY21 Results | Yadnya Investment Academy

Titan Q4FY21 Results | Yadnya Investment Academy

Published on 14 May 2021 Views 92 Comments 0

Q4FY21

  • In Q4FY21, the company witnessed strong revenue growth in Jewellery and Eyewear division and Watches division recovered fully.
  • Income for Q4FY21 was at Rs. 7,169 crore, excluding gold bullion sales of Rs. 25 crore. This was a growth of 60% when compared to Q4FY20 Rs. 4,469 crores.
  • Due to strong revenue growth, the Profit before tax and exceptional items stood at Rs. 702 crores when compared to Rs. 516 crore in previous year, a growth of 36% for Q4FY21.

FY21

  • Income for FY21 was at Rs. 19,426 crores, this was excluding bullion sale of Rs. 1,357 crore. This was a decline of 4% compared to previous year income of Rs. 20,156 crore.
  • Profit before exceptional items and taxes in FY21 stood at Rs. 1,370 crores as compared to Rs. 2,105 crores in previous year.

Division Sales

  • Good recovery in studded segment of the business was possible due to diamond studded promotion during the quarter.
  • Studded ratio lagged as compared to previous year, as gold coin sales continued to remain high it resulted in margin in the jewellery business to be under pressure.
  • Jewellery division income stood at Rs. 6,397 crores (excluding bullion sales) for Q4FY21 when compared to Rs. 3,754 crore in Q4FY20, a growth of 70%. The Watches and Wearable business recovered to record an income of Rs. 555 crore as compared to Rs. 557 crore in previous year.
  • EBIT for Jewellery division was Rs. 703 crores for Q4FY21 when compared to Rs. 534 in Q4FY20.
  • The Eyewear business improved as revenue grew 18% in Q4FY21 with an income of Rs. 127 crore compared to Rs. 108 last year.
  • Eye wear division EBIT stood at Rs. 23 crore as compared to loss of Rs. 2 crore in previous year.
  • Other segments such as Indian dress wear and accessories had a slow recovery as these divisions recorded an income of Rs. 35 crore compared to Rs. 42 crore in previous year, which is a decline of 17%.
  • EBIT for watch division stood at Rs. 46 crore for Q4FY21 as compared to Rs. 72 crore in previous year.

Retail Chain and subsidiaries

  • Retail chain (including CaratLane) currently has 1,909 stores as on 31st Mar 2021 with a retail area crossing 2.5 million square ft for all its brand covering 303 towns.
  • CaratLane performance in offline and online channels is good and its growth for Q4FY21 was at 60% and PBT stood at Rs. 10 crore. Revenue for year to date was Rs. 715 crore, growth of 15% and Net profit stood at Rs. 2 crore as compared to previous year’s loss of 27 crore.
  • Titan Engineering and Automation Ltd (TEAL) Aerospace business was impacted severely due to pandemic even though Automation business had a good performance.
  • The company’s revenue stood at Rs. 101 crore for Q4FY21 and PBT of Rs. 8 crore. For FY21, the revenue stood at Rs. 354 crore, a decline of 23% and PBT of Rs. 40 crore, a decline of 49% when compared to FY20.

Comments from MD

  • The FY21 was a testing year and the pandemic challenged the business operations particularly in the first half.
  • The bounce back of the company could be attributed to support form customers, dedication and innovative spirit of employees and business associates.
  • The Profit before tax and exceptional items number are lower due to impact of pandemic on product mix, the company performed good in cost optimization and cash generation. The company also became stronger in each of its business segment.
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