Motilal Oswal Financial Services (MOFSL) has reiterated a Buy rating on Titan Company, while trimming its target price to ₹4,150 from ₹4,250 earlier. At the current market price of ₹3,402.00, the revised target implies a potential upside of about 22%.
The brokerage noted that FY26 has begun on a strong footing, with margin guidance remaining intact. Titan’s growth momentum continues, aided by operating margin expansion and a 16% YoY increase in average ticket size, which offset weak footfalls caused by elevated gold prices.
For the watches segment, the FY26 EBIT margin guidance remains in the mid-teens, indicating stability. EPS estimates for FY26 and FY27 remain unchanged.
MOFSL has modeled a CAGR of 16% in revenue, 19% in EBITDA, and 23% in PAT for FY25–27E, underlining its positive long-term outlook on the stock.
Disclaimer: The views and recommendations expressed by Motilal Oswal are their own and do not represent the opinion of this publication. Investors are advised to consult a certified financial advisor before making any investment decisions.
