Gold price volatility impacting margins
Unprecedented gold price swings (25% YoY) could further dilute studded margins and make margin guidance challenging.
TITAN / Q3-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
Gold lease rate increase from Trump tariffs
Initial indications show gold on lease rates could rise due to supply disruptions from US tariff policies, impacting hedging costs.
LGD competition in specific locations
New LGD stores opening near Tanishq/CaratLane in markets like Borivali could pressure studded sales, though management hasn't seen impact yet.
Competitive intensity on gold pricing
Price wars on gold rates remain dynamic; management notes no stability in competitive pricing, requiring constant agility.