Jewellery stocks gain on ICRA projecting higher revenue growth for jewellery retailers in FY24

Titan Company Ltd. | Diamond & Jewellery | Consumer Durables | BSE: 500114 | NSE: TITAN

24 May 2023 Evaluate

Jewellery retailers’ stocks are buzzing as Icra reported organised jewellery retailers to clock 12-15% revenue growth in FY24

Titan Company is currently trading at Rs. 2710.70, up by 27.80 points or 1.04% from its previous closing of Rs. 2682.90 on the BSE.

Thangamayil Jewellery is currently trading at Rs. 1268.00, up by 77.35 points or 6.50% from its previous closing of Rs. 1190.65 on the BSE.

PC Jeweller is currently trading at its upper circuit limit of Rs. 24.84, up by 1.18 points or 4.99% from its previous closing of Rs. 23.66 on the BSE.

Icra in its latest report has said the organised jewellery retailers are expected to clock 12-15 per cent revenue growth in current financial year (FY24), mainly aided by expansions planned by a majority of large players. It stated organised jewellers are expected to record revenue growth of 12-15 per cent in current fiscal despite a high base and evolving macro-economic environment.

Icra expects industry growth to moderate to 8-10 per cent YoY (in value terms) in FY24 with volume growth likely to remain constrained by expected volatility in gold prices amidst global macro-economic uncertainties and evolving domestic inflation. However, it said the strong cultural affinity of Indians to gold is likely to support festive and wedding demand for gold jewellery.

In terms of profitability, it said operating margin is likely to remain comfortable and stabilise at around 7.5-8 per cent over the next two years. Besides, it added with the debt protection metrics and liquidity position of players in the sample set expected to remain comfortable, supported by higher earnings on the back of improved scale of operations, the industry outlook is stable.

Tital Company Share Price

4289.65 -40.80 (-0.94%)

25-Jun-2026 16:59 View Price Chart

Peers

Company Name	CMP
Tital Company	4289.65
Kalyan Jewell.India	377.60
Rajesh Exports	97.75
Senco Gold	323.05
Thangamayil Jeweller	5599.95
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