Tata Group‘s Titan Company is poised to report its second-quarter results in November, the company said in a press release on Wednesday.

What Happened: The board of Tanishq‘s parent firm will meet on November 5 to approve the financial results for the half year and July to September quarter.

Titan is one of Nuvama’s top picks in the retail sector. It expects the company’s standalone sales to come at ₹12,265.5 crore while it sees net profit declining 7% year-on-year to ₹878.7 crore.

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Titan posted 25% YoY growth in its core jewellery segment in the September quarter, fuelled by 11% growth in new buyers. The brokerage expects like-for-like sales growth to remain between 13% to 19% in the second quarter. The entire sector is poised to experience strong buying after the government reduced the customs duty on gold from 15% to 6%.

On average, gold prices have risen by approximately 20% year-on-year in rupee terms. The increase in jewellery purchases has largely compensated for the slowdown observed in the June quarter due to fewer wedding dates, Nuvama noted.

Motilal Oswal expects Titan to record a consolidated revenue of ₹14,430 crore and an adjusted PAT of ₹1,080 crore. The brokerage said it models a 20% standalone revenue growth (ex-bullion) and same-store sales growth of 14% in 2QFY25. Motilal Oswal projects healthy growth in watches and other businesses but expects muted growth in the eye care segment.

“We expect inventory loss of ₹3 billion-₹3.5 billion (₹300 crore-₹350 crore) due to custom rate cut in 2QFY25. We have not considered the impact in our numbers,” the brokerage added.

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