Titan Company (TTAN IN) – Q4FY26 Result Update – Growth outlook remains positive – BUY
Published on 08 May 2026
TTAN’s long term outlook too remains positive given 1) TTAN will likely be a gainer as higher gold prices give advantage in souring and inventory funding and consumer shift to branded chains accelerates 2) Success in light weight jewellery (9k and 14k) in Mia/Caratlane and 18k jewellery in Tanishq and Be-Yon in the LGD segment to cater to sub Rs100000 consumer will drive value growth and 3) emergence of Caratlane and TEAL as new growth contributors. We estimate 25% EPS CAGR over FY26-28. We value Caratlane/TEAL at Rs225/154 per share and arrive at SOTP based target price of Rs5161 (Rs5102). Retain Buy
