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
: Just wanted to -- first of all, congratulations on the performance. Wanted to understand the demand trends, how have they been shaping up in
January? And in particular, if you could give us some understanding of the jewellery business, given the sharp price -- sharp increase in gold prices?
Question: Avi Mehta - Macquarie Research - Analyst
: Would you say this is on a 3-year CAGR basis that you're looking at as in pre-COVID just to -- because obviously, Y-o-Y base growth rates might be,
as you rightly alluded there's Omicron in the base. So even on the 3-year trajectory it's broadly in line with what we saw in third quarter.
Question: Avi Mehta - Macquarie Research - Analyst
: Okay. And on the other segments as well, if it's possible to share, especially in the watches and the eyewear?
Unidentified Company Representative
Yes. So this is [Parnami]. Watches also -- watches and wearables, we've seen a good Jan. And like Ajoy mentioned, this is not only on last year's
retail as on the Jan 2020. So quite happy with the retail growth.
Question: Avi Mehta - Macquarie Research - Analyst
: Okay. Perfect. The second bit also on the margins, especially on the watch side. I mean, last quarter, you had indicated that in the near term, we
will -- we see a 13% to 14% margin kind of panning out in the watch business. Just wanted to kind of clarify, was this more the annual expectation
or was this -- and whether this quarter or with this quarter kind of changes that expectation in any manner?
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FEBRUARY 02, 2023 / 11:00AM, TITN.NS - Q3 2023 Titan Company Ltd Earnings Call
Unidentified Company Representative
No. This quarter, the margin is lower because of some product channel and category mix issues. But if you see the YTD margins, it is in that ballpark
of about 15% and our outlook remains in that range.
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