Titan Company Ltd

About [ edit ]

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). #

Key Points [ edit ]
  • Market Cap 152,215 Cr.
  • Current Price 1,715
  • High / Low 1,800 / 1,043
  • Stock P/E 156
  • Book Value 85.1
  • Dividend Yield 0.23 %
  • ROCE 13.6 %
  • ROE 13.6 %
  • Face Value 1.00

Pros

  • Company has been maintaining a healthy dividend payout of 32.12%

Cons

  • Stock is trading at 20.15 times its book value
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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
4,319 4,407 5,672 4,672 4,939 4,435 6,206 4,429 1,862 4,318 7,287 7,135
3,824 3,940 5,088 4,216 4,374 3,922 5,471 3,825 2,108 4,024 6,429 6,340
Operating Profit 495 467 584 456 565 513 735 604 -246 294 858 795
OPM % 11% 11% 10% 10% 11% 12% 12% 14% -13% 7% 12% 11%
Other Income 36 27 61 -15 56 31 20 40 39 71 -100 34
Interest 9 11 13 12 30 41 40 38 46 44 46 45
Depreciation 35 37 33 33 68 74 78 90 82 83 84 82
Profit before tax 487 446 600 395 523 429 637 516 -335 238 628 702
Tax % 28% 29% 31% 25% 29% 25% 26% 31% 19% 16% 33% 25%
Net Profit 349 314 416 295 371 320 470 357 -270 199 419 529
EPS in Rs 3.93 3.54 4.69 3.32 4.18 3.60 5.29 4.02 -3.04 2.24 4.72 5.96

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
4,770 6,521 8,838 10,113 10,916 11,903 11,084 12,897 15,621 19,070 20,010 20,602
4,372 5,907 8,003 9,100 9,864 10,746 10,135 11,693 13,886 17,064 17,592 18,900
Operating Profit 398 614 835 1,012 1,051 1,157 949 1,204 1,736 2,006 2,418 1,702
OPM % 8% 9% 9% 10% 10% 10% 9% 9% 11% 11% 12% 8%
Other Income 9 54 92 99 117 67 69 -40 -7 104 146 43
Interest 25 35 44 51 87 81 42 37 48 44 149 181
Depreciation 60 34 45 54 66 87 87 93 110 139 310 331
Profit before tax 321 599 838 1,006 1,016 1,056 888 1,033 1,571 1,927 2,105 1,233
Tax % 22% 28% 28% 28% 27% 22% 21% 26% 26% 29% 28% 29%
Net Profit 250 430 600 725 741 823 698 762 1,163 1,374 1,517 877
EPS in Rs 2.82 4.85 6.76 8.17 8.35 9.27 7.86 8.58 13.10 15.48 17.09 9.88
Dividend Payout % 27% 13% 26% 26% 25% 25% 28% 30% 29% 32% 23% 41%
Compounded Sales Growth
10 Years:12%
5 Years:13%
3 Years:10%
TTM:3%
Compounded Profit Growth
10 Years:8%
5 Years:7%
3 Years:-7%
TTM:-36%
Stock Price CAGR
10 Years:23%
5 Years:33%
3 Years:23%
1 Year:64%
Return on Equity
10 Years:24%
5 Years:21%
3 Years:20%
Last Year:14%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
44 44 89 89 89 89 89 89 89 89 89 89
Reserves 680 981 1,361 1,876 2,435 3,003 3,446 4,223 5,105 6,093 6,736 7,464
Borrowings 73 68 6 -0 806 100 113 1,867 1,604 2,288 3,269 5,243
1,289 2,642 3,238 3,911 2,777 2,680 2,661 2,138 2,599 3,000 3,094 3,064
Total Liabilities 2,086 3,736 4,694 5,876 6,107 5,872 6,308 8,318 9,396 11,470 13,188 15,860
263 283 369 449 596 683 654 707 974 1,069 2,053 1,959
CWIP 12 17 25 42 33 55 77 148 41 26 14 25
Investments 8 9 16 19 27 33 90 886 734 876 983 3,512
1,804 3,427 4,284 5,367 5,451 5,101 5,487 6,576 7,648 9,499 10,138 10,364
Total Assets 2,086 3,736 4,694 5,876 6,107 5,872 6,308 8,318 9,396 11,470 13,188 15,860

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
342 1,051 160 553 -551 508 567 1,768 299 1,249 -289 4,101
-32 -24 -62 -142 -275 -124 -151 -1,022 -179 -910 243 -2,744
-178 -117 -234 -236 497 -1,004 -505 -154 -325 -442 -268 -1,260
Net Cash Flow 132 910 -136 175 -330 -620 -89 592 -205 -102 -314 97

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
ROCE % 46% 67% 69% 62% 42% 35% 27% 24% 26% 27% 24% 14%
Debtor Days 7 6 7 6 5 6 4 3 5 7 4 5
Inventory Turnover 2.68 2.83 2.70 2.30 2.14 2.22 1.94 2.03 2.16 2.25 2.01 2.01

Shareholding Pattern

Numbers in percentages

Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
52.91 52.91 52.91 52.91 52.91 52.91 52.91 52.91 52.90 52.90 52.90 52.90
19.50 18.46 19.24 19.64 18.77 18.31 17.74 17.55 18.05 18.59 18.10 18.41
7.59 8.16 7.21 6.69 8.66 9.10 10.87 10.81 10.97 10.86 11.13 9.87
0.18 0.19 0.17 0.17 0.17 0.18 0.23 0.36 0.35 0.35 0.35 0.21
19.82 20.29 20.47 20.60 19.50 19.50 18.26 18.38 17.73 17.30 17.53 18.61

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