Stockrabit · Analysts
Questions across 2 calls

Nihal Jham

Nuvama

Kalyan Jewellers India Limited

Kalyan Jewellers India Limited CC-Sep23.pdf · 2023-11-16
Couple of questions. First was on the demand bit of it, as you highlighted, post the quarter. Actually, based on what we were picking up, given the recent spike in gold prices that had happened, demand had stalled while there were footfalls, d emand was obv iously not getting converted because prices increased. Our growth was obviously pretty strong at 30% plus. So, is this in your opinion a case where wedding demand has got activated, which is in a way slightly price insensitive and more time sensitive. Just your comments on that?
Absolutely, because I'm assuming the first 15 days, given Shradh got shifted into October, the performance would have been much weaker than last year. So, it's basically after Shradh got over till now that we must have seen a robust performance to deliver this 35% kind of growth?

Titan Company Limited

Titan Company Limited CC-Sep23.pdf · 2023-11-03
Ajoy, my first question was on the jewellery business. I know at the start of the call, we tried bifurcating the benefit of maybe what the shifting of Shradh had. Just to understand if, say, looking at the growth in July -August would be in any way a bifurcation or a see-through into how the quarter would have performed, had the shift of dates not happened. Would that in a way give a sense just to understand from your perspective?
Sure. I'll take it. The second question was on the jewellery margins. Last year, I think we had a 2% benefit where we saw some benefits also coming in from the increase in diamond prices at that point in time. And while I don't think we bifurcated the difference, assuming, say, 1% was related to that, is it that this time around, the pricing environment is, as you said, more towards solitaires and the higher caratage whereas last year it was more on the caratage that we were using and that is why it is not really clear in terms of how the margin impact would play out in the future ahead.