Titan Company Ltd

Titan Company Ltd

₹ 4,055 -3.57%
12 May - close price
About

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]

Key Points

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]

  • 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.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
9,704 11,145 11,660 13,052 11,257 12,053 13,215 16,097 13,477 14,564 16,534 22,522 23,934
8,660 10,042 10,305 11,595 10,148 10,842 12,082 14,587 12,039 12,932 14,914 20,186 22,219
Operating Profit 1,044 1,103 1,355 1,457 1,109 1,211 1,133 1,510 1,438 1,632 1,620 2,336 1,715
OPM % 11% 10% 12% 11% 10% 10% 9% 9% 11% 11% 10% 10% 7%
104 99 122 139 150 118 127 131 117 107 109 29 201
Interest 74 79 106 133 162 182 195 186 204 216 222 243 274
Depreciation 95 99 110 118 120 126 132 135 144 143 146 151 156
Profit before tax 979 1,024 1,261 1,345 977 1,021 933 1,320 1,207 1,380 1,361 1,971 1,486
Tax % 25% 24% 25% 23% 20% 25% 24% 25% 28% 25% 26% 25% 24%
734 777 940 1,040 786 770 705 990 870 1,030 1,006 1,470 1,124
EPS in Rs 8.27 8.75 10.59 11.71 8.85 8.67 7.94 11.15 9.80 11.60 11.33 16.56 12.66
Raw PDF

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.
Jewellery Store Count (incl. CaratLane)
Number
Watches Store Count
Number
Town Presence
Number
Jewellery Market Share (Organised)
%
Jewellery Studded Share
%
Watches Sales Growth (Analog)
%

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
52.90% 52.90% 52.90% 52.90% 52.90% 52.90% 52.90% 52.90% 52.90% 52.90% 52.90% 52.90%
18.53% 19.05% 18.89% 19.01% 18.21% 18.23% 18.11% 17.82% 17.54% 16.11% 15.55% 15.65%
10.46% 9.87% 10.25% 10.29% 10.68% 11.28% 11.37% 12.01% 12.59% 13.99% 14.83% 14.84%
0.17% 0.17% 0.17% 0.17% 0.19% 0.19% 0.19% 0.19% 0.19% 0.19% 0.19% 0.19%
17.93% 18.00% 17.77% 17.57% 17.94% 17.33% 17.35% 17.01% 16.69% 16.76% 16.45% 16.34%
0.00% 0.00% 0.00% 0.08% 0.08% 0.08% 0.08% 0.08% 0.08% 0.08% 0.08% 0.08%
No. of Shareholders 6,75,1936,99,6597,10,6467,49,3198,80,5878,24,6618,75,9018,55,1267,92,1317,95,4667,49,3737,35,599

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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