Titan Company Ltd
Titan Company Ltd is among India’s most respected lifestyle companies. It has established leadership positions in the Watches, Jewellery and Eyewear categories led by its trusted brands and differentiated customer experience. It was founded in 1984 as a joint-venture between TATA Group and Tamilnadu Industrial Development Corporation (TIDCO). [1]
- Market Cap ₹ 3,60,045 Cr.
- Current Price ₹ 4,055
- High / Low ₹ 4,605 / 3,301
- Stock P/E 76.7
- Book Value ₹ 231
- Dividend Yield 0.27 %
- ROCE 18.7 %
- ROE 25.2 %
- Face Value ₹ 1.00
Pros
- Company is expected to give good quarter
- Company has a good return on equity (ROE) track record: 3 Years ROE 24.4%
- Company has been maintaining a healthy dividend payout of 28.6%
- Company's median sales growth is 21.6% of last 10 years
Cons
- Stock is trading at 17.6 times its book value
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 11,903 | 11,084 | 12,897 | 15,621 | 19,070 | 20,010 | 20,602 | 27,210 | 38,270 | 47,114 | 54,842 | 77,554 | |
| 10,746 | 10,135 | 11,693 | 13,886 | 17,064 | 17,592 | 18,896 | 23,928 | 33,497 | 42,090 | 49,550 | 70,251 | |
| Operating Profit | 1,158 | 949 | 1,204 | 1,736 | 2,006 | 2,418 | 1,706 | 3,282 | 4,773 | 5,024 | 5,292 | 7,303 |
| OPM % | 10% | 9% | 9% | 11% | 11% | 12% | 8% | 12% | 12% | 11% | 10% | 9% |
| 66 | 69 | -40 | -7 | 104 | 146 | 39 | 192 | 296 | 510 | 493 | 446 | |
| Interest | 81 | 42 | 37 | 48 | 44 | 149 | 181 | 195 | 240 | 480 | 767 | 955 |
| Depreciation | 87 | 87 | 93 | 110 | 139 | 310 | 331 | 347 | 364 | 447 | 537 | 596 |
| Profit before tax | 1,056 | 888 | 1,033 | 1,571 | 1,927 | 2,105 | 1,233 | 2,932 | 4,465 | 4,607 | 4,481 | 6,198 |
| Tax % | 22% | 21% | 26% | 26% | 29% | 28% | 29% | 26% | 25% | 23% | 26% | 25% |
| 823 | 698 | 762 | 1,163 | 1,374 | 1,517 | 877 | 2,180 | 3,333 | 3,544 | 3,335 | 4,630 | |
| EPS in Rs | 9.27 | 7.86 | 8.58 | 13.10 | 15.48 | 17.09 | 9.88 | 24.56 | 37.54 | 39.92 | 37.57 | 52.15 |
| Dividend Payout % | 25% | 28% | 30% | 29% | 32% | 23% | 41% | 31% | 27% | 28% | 29% | 29% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 21% |
| 5 Years: | 30% |
| 3 Years: | 27% |
| TTM: | 41% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 21% |
| 5 Years: | 37% |
| 3 Years: | 12% |
| TTM: | 41% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 27% |
| 5 Years: | 23% |
| 3 Years: | 14% |
| 1 Year: | 14% |
| Return on Equity | |
|---|---|
| 10 Years: | 24% |
| 5 Years: | 26% |
| 3 Years: | 24% |
| Last Year: | 25% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 89 | 89 | 89 | 89 | 89 | 89 | 89 | 89 | 89 | 89 | 89 | 89 |
| Reserves | 3,003 | 3,446 | 4,223 | 5,105 | 6,093 | 6,736 | 7,464 | 9,284 | 11,905 | 14,368 | 16,722 | 20,398 |
| 100 | 113 | 1,867 | 1,604 | 2,288 | 3,269 | 5,243 | 6,605 | 7,862 | 12,661 | 17,171 | 23,009 | |
| 2,680 | 2,661 | 2,138 | 2,599 | 3,000 | 3,094 | 3,064 | 4,159 | 5,232 | 5,744 | 7,093 | 10,121 | |
| Total Liabilities | 5,872 | 6,308 | 8,318 | 9,396 | 11,470 | 13,188 | 15,860 | 20,137 | 25,088 | 32,862 | 41,075 | 53,617 |
| 683 | 654 | 707 | 974 | 1,069 | 2,053 | 1,959 | 1,925 | 2,161 | 2,691 | 3,019 | 3,375 | |
| CWIP | 55 | 77 | 148 | 41 | 26 | 14 | 25 | 71 | 127 | 87 | 94 | 63 |
| Investments | 33 | 90 | 886 | 734 | 876 | 983 | 3,512 | 884 | 3,259 | 7,813 | 7,723 | 9,032 |
| 5,101 | 5,487 | 6,576 | 7,648 | 9,499 | 10,138 | 10,364 | 17,257 | 19,541 | 22,271 | 30,239 | 41,147 | |
| Total Assets | 5,872 | 6,308 | 8,318 | 9,396 | 11,470 | 13,188 | 15,860 | 20,137 | 25,088 | 32,862 | 41,075 | 53,617 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 508 | 567 | 1,768 | 299 | 1,249 | -289 | 4,101 | -1,126 | 1,810 | 2,030 | -170 | 4,865 | |
| -124 | -151 | -1,022 | -179 | -910 | 243 | -2,744 | 1,564 | -1,653 | -4,634 | 140 | -1,040 | |
| -1,004 | -505 | -154 | -325 | -442 | -268 | -1,260 | -468 | -155 | 2,757 | 1 | -3,912 | |
| Net Cash Flow | -620 | -89 | 592 | -205 | -102 | -314 | 97 | -30 | 2 | 153 | -29 | -87 |
| Free Cash Flow | 301 | 353 | 1,569 | 38 | 1,024 | -591 | 3,997 | -1,293 | 1,532 | 1,510 | -540 | 4,397 |
| CFO/OP | 65% | 81% | 170% | 43% | 93% | 10% | 256% | -10% | 62% | 63% | 16% | 88% |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 6 | 4 | 3 | 5 | 7 | 4 | 5 | 7 | 9 | 7 | 7 | 4 |
| Inventory Days | 169 | 196 | 189 | 184 | 175 | 195 | 185 | 226 | 188 | 167 | 205 | 201 |
| Days Payable | 81 | 73 | 28 | 25 | 20 | 13 | 16 | 19 | 12 | 9 | 12 | 11 |
| Cash Conversion Cycle | 94 | 128 | 164 | 164 | 162 | 186 | 174 | 214 | 184 | 165 | 199 | 195 |
| Working Capital Days | 59 | 79 | 47 | 60 | 54 | 70 | 36 | 77 | 59 | 53 | 42 | 50 |
| ROCE % | 35% | 27% | 24% | 26% | 27% | 24% | 14% | 22% | 26% | 22% | 17% | 19% |
Insights
In beta| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Total Store Count Number |
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| Total Retail Area sq. ft. |
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| Jewellery Store Count (incl. CaratLane) Number |
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| Watches Store Count Number |
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| Town Presence Number |
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| Jewellery Market Share (Organised) % |
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| Jewellery Studded Share % |
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| Watches Sales Growth (Analog) % |
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Extracted by Screener AI
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Newspaper Publication
2d - Newspaper publication for Audited financial results for the fourth quarter and year ended 31st March 2026
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Announcement under Regulation 30 (LODR)-Newspaper Publication
2d - Newspaper publication for Audited financial results for the fourth quarter and year ended 31st March 2026
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
8 May - Titan posted audio recording of analyst call on Q4 and FY26 audited results.
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Certificate Pursuant To SEBI Circular No. SEBI/HO/DDHS/P/CIR/2021/613 Dated August 10, 2021
8 May - Quarterly CP proceeds-use certificate filed for quarter ended March 31, 2026; total CP issuance was Rs 12,225 crore.
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Announcement under Regulation 30 (LODR)-Investor Presentation
8 May - Quarter and annual earnings presentation for FY 2025-26
Annual reports
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Financial Year 2025
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Financial Year 2024
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Financial Year 2023
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
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Financial Year 2012
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Financial Year 2011
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Concalls
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May 2026TranscriptAI SummaryPPT
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Feb 2026Transcript PPT REC
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Revenue Mix (FY25)
1) Jewellery (85%)- It is India’s leading Organised Jewellery Retailer with presence at 1091 Exclusive Brand Outlets across its brands Tanishq, Mia, Zoya, and Caratlane. The company has an 8% market share in the Jewellery market. In Q4 FY25, the company added 7 stores of Tanishq, 12 stores of Mia, and 17 stores of Caratlane. In FY25, the company generated 25% digitally influenced sales. [1] {https://www.bseindia.com/xml-data/corpfiling/AttachHis/c30ed25f-9212-411d-bce8-0ba98361a738.pdf#page=9 #} [2]