Coronavirus lockdown likely to adversely impact Titan's FY21 revenue

The lockdown has adversely impacted Titan’s sales in March, with the company reporting a 5 per cent decline in the jewellery division for the quarter (Q4) on account of supply-side disruption and closure of retail stores.
 

Growth in the segment, which accounts for over 80 per cent of the consolidated sales, was robust in January and February, thus leading to a 16.5 per cent growth in revenues.
 

Titan indicated that due to serious disruptions in operations in March, revenue growth for Q4 and FY20 as a whole has been hit severely. Brokerages believe the impact could be more severe going