Titan sees no sales slowdown after PM's gold-curb call, import duty hike
MD Ajoy Chawla says it's too early to gauge impact of policy signals; awaits clarity by June-end. Jewellery revenue grew 48% to Rs 79,660 cr, with consumers pivoting to 14/18-carat amid record prices. Targets 20-25% same-store growth.
What happened
Titan MD Ajoy Chawla says it's too early to gauge impact of PM's gold-reduction call and import duty hike; expects clarity by June-end. Jewellery grew 48% to Rs
Key facts
- 90% jewellery contribution
- 82% six years ago
- 48% growth
- Rs 79,660 crore
- 50% gold via exchange
- 40% two years ago
- 16% Q4 growth
- 20-25% same-store growth target
Why this matters
Policy uncertainty around gold curbs and import duties could pressure smaller regional jewellers, opening a window for Titan to accelerate consolidation plays before June-end clarity.