Titan at its glittering best is trading near its record high. This is on the back of the government's decision to call for a meeting later this month to discuss the mandatory hallmarking of gold jewellery, which will benefit branded players like Titan. S Subramaniam, CFO of the company spoke at length about the same and gave his outlook for the future.
Subramaniam said making hallmarking compulsory will help the organised players. Talking about business, he further added, “The prices are extremely high at this point in time, and we can see that coming from the entire industry as sales have been muted. Also, it will be difficult to implement hallmarking as a mandatory process because of all the infrastructural changes that will take place. ”
He further continued, “We have been doing decently. March is where we hope to do better than what we have done. In fact, we are planning to come with demand generating activities in March."
Subramaniam expects jewellery business to grow by 21-22 percent in FY19.