The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Avi Mehta - Macquarie Research - Analyst
: I wanted to pick up on the last that you said about certain scheduling of profits. Now -- and especially in the jewelry segment, given this quarter's
jewelry performance, would you need to revisit the expectations of 12.5% to 13% July margins FY '24 as the competitive intensity necessitates a
more aggressive pricing stance? Or was this a part of your scheduling that you highlighted?
Question: Avi Mehta - Macquarie Research - Analyst
: Perfect. And just to clarify, the reason why I asked is, while that 13.5% that we did last quarter, while we acknowledge that 100 bps one-off, it was
the further the steps that resulted in 11% and the step that you indicated, one was higher exchange. The other was pricing rationalization, both
of which seem to be more structural rather than one-off, which is why the question, sir.
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AUGUST 02, 2023 / 1:30PM, TITN.NS - Q1 2024 Titan Company Ltd Earnings Call
And hence, any clarification on why you believe this is not something that is structural would be very useful to appreciate, especially the pricing
realization bit. Does it indicate that competition is a lot more, and hence, you have to revisit pricing? That is what we wanted to kind of better
understand. That was the ethos of the question to be frank.
Question: Avi Mehta - Macquarie Research - Analyst
: That's very clear. And just on the last bit -- taking the last comment, you said good growth continuing, which suggests that demand per se is not
a concern as we speak. That's the right way to kind of read into that comment?
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AUGUST 02, 2023 / 1:30PM, TITN.NS - Q1 2024 Titan Company Ltd Earnings Call
Question: Amit Rustagi - UBS Investment Bank, Research Division - Analyst
: Sir, could you help me understand that you have mentioned about building a market share. But if we combine together all the organized players,
I think the number of stores they're planning to open are significantly higher this year versus last year. So will -- will we strategy be moving towards
more stores in India as well, like the number of stores you plan versus would you like to increase them as well?
Question: Amit Rustagi - UBS Investment Bank, Research Division - Analyst
: Sir, jewelry.
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