Full Year 2023 Titan Company Ltd Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Avi Mehta - Macquarie Research - Analyst : Am I audible?

Question: Avi Mehta - Macquarie Research - Analyst : Yes. Sir, my first question was on the jewelry side. Has the moderation seen in customer demand in March, has that kind of -- because of the sharp gold price rise, has that waned off in April? And could you give us some sense on how the growth trends are behaving?

Question: Avi Mehta - Macquarie Research - Analyst : And those would be -- sir, would you be able to share some plans for the year? What are your thoughts? Any numbers over there?

Question: Avi Mehta - Macquarie Research - Analyst : Perfect. Sir, on -- there is this change in the franchisee rates which was carried out during the quarter. If you could give us some sense on what exactly was it? And give us an idea of what is the impact we should kind of expect on margins? Will they improve? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. MAY 03, 2023 / 11:30AM, TITN.NS - Full Year 2023 Titan Company Ltd Earnings Call

Question: Avi Mehta - Macquarie Research - Analyst : So if I may, sir, summarize or paraphrase, the way it is, this is to modify the incentives to move product mix upwards and should not result in any impact to the franchisee profitability. Would that be a fair statement to make, sir? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. MAY 03, 2023 / 11:30AM, TITN.NS - Full Year 2023 Titan Company Ltd Earnings Call

Question: Avi Mehta - Macquarie Research - Analyst : Got it, sir. Got it, sir. And sir, with your permission, just one last thing on the watch side. We saw very strong growth, but margins were below the range that we had kind of -- we're looking at of 13% to 14%. Would you revisit this target? Or could you kind of share us how do you see this internally?