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Titan Company sales recovery to kick in

FY14 was one of the most challenging years for Titan. Apart from weak consumer discretionary spending, regulatory changes on gold leasing and imports also impacted the company’s performance adversely. Reported earnings grew by 2 per cent YoY, RoCE declined from 62 per cent to 42 per cent and operating cash flow was negative, first time in the last decade.

 Faced with a tough competitive environment and deep discounting, which led to 6 per cent volume de-growth in FY14, Titan’s watch division increased brand investments and new launches, consolidated distribution channels, and expanded its retail presence, especially in central India, to re-gain growth.

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