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Titan expects demonetisation to prove positive from FY18 onwards
Sales in both divisions picked up and are now back to pre-demonetisation and post-festive season levels, the company said on the call. The company said the non-cash payments are likely to be a ballpark 40% of all sales while cash is around 60%. The maximum impact that Titan expects on its jewellery sales could be around 16% it estimated. Rakesh Jhunjhunwala, one of India's best known stock investors in Titan who had also dialed into Friday's analyst call, appeared to be of a similar view.

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