Gold price volatility and customs duty impact
Rising global gold prices could offset the benefit of the customs duty cut, dampening demand and pressuring margins.
TITAN / Q1-FY25 / risks
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Titan · Material risks, their source context, and severity in the latest available quarter.
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Material risks this quarter
high
Rising competitive intensity from organized players
Multiple organized jewelry players are expanding rapidly, especially in North and East India, potentially eroding Titan's market share.
Potential GST hike on jewelry
An analyst raised the risk that a GST increase could reverse formalization, as customers may see a separate tax line item. Management downplayed this but acknowledged it as a possibility.
Talent attrition to competitors
Titan has become a hunting ground for talent, with several senior executives leaving to join competitors, potentially weakening execution capability.