India Equity Analyst - Fundamental & Thematic, Sree Capital

Sreemant Dudhoria,CFA

Sreemant Dudhoria is a CFA Charterholder with 15 years of experience in equity research and information technology. He is also a SEBI-registered Research Analyst (Registration Number: INH000016861). His focus is on analyzing companies where promoters buy their own shares. Previously, he has worked with Unifi Capital and Infosys Technologies Limited.

India Equity Analyst - Fundamental & Thematic

Chow Tai Fook(1929 HK) – Firing on All Cylinders, Strong Outlook For FY26

Fundamental Research on Listed Indian Companies

Sree Capital

Sree Capital is a platform to share fundamental research on listed Indian companies. We do this research for our own investment

Equity Bottom-Up

Chow Tai Fook Jewellery / Equity Bottom-Up

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<li>Despite short-term demand headwinds, <a href="https://www.smartkarma.com/entities/chow-tai-fook-jewellery-group" target="_blank" data-smartkarma-citation="entities:549:1" rel="noopener">Chow Tai Fook Jewellery (1929 HK)</a> remains well-positioned for structural growth via product premiumization(e.g.,CTF Rouge,Palace Museum), omni-channel scaling, and selective global expansion in culturally aligned markets.</li>
<li>Company continues to defend margins through product mix optimization (fixed-price gold up to 25.6% of gold RSV),disciplined SG&amp;A control, and aggressive retail network rationalization.</li>
<li>Trading at ~26xx TTM P/E, it commands premium to peers, backed by industry-leading ROE (~25%),brand strength,and high dividend payout (~79%), though clear earnings rebound remains key to justify the multiple.</li>
</ul>


Despite short-term demand headwinds, Chow Tai Fook Jewellery (1929 HK) remains well-positioned for structural growth via product premiumization(e.g.,CTF Rouge,Palace Museum), omni-channel scaling, and selective global expansion in culturally aligned markets.
Company continues to defend margins through product mix optimization (fixed-price gold up to 25.6% of gold RSV),disciplined SG&amp;A control, and aggressive retail network rationalization.
Trading at ~26xx TTM P/E, it commands premium to peers, backed by industry-leading ROE (~25%),brand strength,and high dividend payout (~79%), though clear earnings rebound remains key to justify the multiple.


Chow Tai Fook (1929 HK) – H2FY25 Outlook, Cost Management & Pricing Optimization to Drive Growth.