Titan management’s quarterly update where they said that the company this time around faced a tough condition and for three verticals which are Titan’s mainstay. And that is why the stock has fallen about 20 percent after that.

First, the jewellery business is likely to post 13 percent revenue growth in the first quarter. This compares with their guidance of 22 percent.

The second vertical, the watch business saw a revenue growth of around 19 percent boosted by a bulk order coming in from TCS. The third is the eyewear, a segment they said that grew around 13 percent. So with all these numbers in the hand, all the street had to do was to take the cheat sheet, punch it into the excel sheet and come out with numbers.

A CNBC-TV18 poll expects a 15 percent revenue growth at Rs 4,965 crore on the topline. No major change expected in the margin. So 14.5 percent growth on the EBITDA, 11.4 percent versus 11.5 percent for EBITDA margin as a result of which net profit expected to be 15 percent as well.

Therefore, the key number to remember this time around – 13 percent growth in jewellery business and 15 percent overall growth on the revenue, EBITDA as well as net profit.

The biggest thing to watch out for though is the management commentary on how second-quarter pans out and is there a downside risk to their annual guidance of 22 percent. If they down that then maybe there could be further weakness for the stock.