Titan Company Ltd. Targets Revenue Growth and Market Expansion Amidst Flat Trading

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Titan Company Ltd. Outlines Ambitious Growth Targets Despite Flat Trading

Team FS

06/Jun/2024

Key Points:

1: Titan Company Ltd. outlines ambitious growth targets despite trading almost flat on the stock market.

2: Targets include revenue CAGR, market share expansion, and customer base increase in various segments.

3: Strategies focus on jewellery business, wearables, eyecare segment, and emerging business sectors.

Despite experiencing flat trading on the stock market, Titan Company Ltd., a leading consumer discretionary major, remains steadfast in its pursuit of growth and expansion. The company has outlined ambitious targets across various business segments, signaling confidence in its ability to navigate market challenges and capitalize on emerging opportunities.

Focus on Jewellery Business:

In its jewellery business, Titan anticipates a robust revenue compound annual growth rate (CAGR) of 15–20% over the period spanning FY24-27. Additionally, the company aims to increase its market share to 10-11%, up from the current 8.6%. It also expects to maintain margins in the range of 11.5-12.5%. Furthermore, Titan sets a target of acquiring 6 million customers by FY27, with a projected 12% CAGR over FY19–24.

Expansion into Wearables and Eyecare Segments:

Titan is strategically positioning itself to capture a larger share of the wearables market, expecting threefold growth in volume by FY27. Similarly, in the eyecare segment, the company targets a 40% revenue CAGR over the next three years. These initiatives reflect Titan's commitment to diversification and innovation to meet evolving consumer preferences.

Targeting Specific Customer Segments:

Recognizing the importance of targeted marketing, Titan is focusing on three key customer segments: luxury/premium, women, and Gen-Z. By catering to the unique needs and preferences of these demographics, the company aims to strengthen its market position and drive sustained growth.

Ambitious Revenue and Market Expansion Goals:

In addition to its core jewellery business, Titan is actively pursuing growth opportunities in emerging sectors such as fragrances, fashion accessories, Indian dress wear, and international markets. The company maintains ambitious revenue targets for these segments, aiming for ₹2,000 crore in sales from the eyecare segment and ₹1,000 crore from its emerging business segment by FY27. Furthermore, Titan aims to achieve $500 million in international revenue and acquire 5,00,000 customers by the same period.

Conclusion:

Despite facing challenges in the stock market, Titan Company Ltd. remains optimistic about its growth prospects. By setting ambitious targets across various business segments and focusing on innovation and customer-centric strategies, the company is positioning itself for long-term success and market leadership in the consumer discretionary industry.

Also Read : Gensol Engineering Ltd's Promoter Increases Shareholding, Stock Prices Surge

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Titan Company Ltd. Outlines Ambitious Growth Targets Despite Flat Trading

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