Q3FY25 updates point to strong growth ahead for jewellery companies

The Watches & Wearables domestic growth was 13 per cent Y-o-Y, with analog watches clocking a robust 19 per cent growth

Two leading listed jewellers, Titan and Kalyan, have just released their pre-quarterly updates for the third quarter of the current financial year (Q3FY25). The market has responded positively to Titan and negatively to Kalyan but the trends are strong for both companies.

 

Titan’s standalone revenue may grow by 24 per cent year-on-year (Y-o-Y) in Q3FY25 due to 26 per cent growth in the jewellery segment. The strong recovery was driven by pickup in consumer demand from the festive and wedding season and supported by reductions in custom duty on gold. More A&P (advertising and promotional) activity could compress margins. Titan