Titan eyes revenue double by FY30; brokerages flag up to 24% upside
Motilal Oswal (TP Rs 5,250) and Nuvama (TP Rs 5,030) retain Buy as Titan plans 1,400 jewellery stores and 11% market share by FY30. Mia targets Rs 2,000 cr run-rate, Zoya Rs 500 cr, Eye+ Rs 3,500 cr GCR, with Damas anchoring international play.
What happened
Motilal Oswal and Nuvama retain Buy on Titan with up to 24% upside, backing FY30 plan to double revenue via jewellery network expansion to 1,400 stores, 11%
Key facts
- TP Rs 5,250 (23.8% upside)
- TP Rs 5,030 (18.6% upside)
- 1,400 stores by FY30
- 11% market share by FY30 from 8.5%
- Mia Rs 2,000 cr run-rate
- Zoya Rs 500 cr target
- Eye+ Rs 3,500 cr GCR
Why this matters
Damas as the international anchor signals an inorganic-led GCC expansion playbook, opening room for further bolt-ons across jewellery, eyewear, and adjacent lifestyle categories.