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 ₹ 3,76,069 Cr.
- Current Price ₹ 4,234
- High / Low ₹ 4,380 / 2,925
- Stock P/E 77.0
- Book Value ₹ 144
- Dividend Yield 0.26 %
- ROCE 19.1 %
- ROE 31.8 %
- 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 31.8%
- Company has been maintaining a healthy dividend payout of 28.2%
Cons
- Stock is trading at 29.4 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
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 10,927 | 11,913 | 11,276 | 13,261 | 16,120 | 19,779 | 21,052 | 21,644 | 28,799 | 40,575 | 51,084 | 60,456 | 75,580 | |
| 9,880 | 10,761 | 10,337 | 12,097 | 14,476 | 17,785 | 18,589 | 19,919 | 25,455 | 35,693 | 45,792 | 54,762 | 67,625 | |
| Operating Profit | 1,047 | 1,153 | 939 | 1,164 | 1,644 | 1,994 | 2,463 | 1,725 | 3,344 | 4,882 | 5,292 | 5,694 | 7,955 |
| OPM % | 10% | 10% | 8% | 9% | 10% | 10% | 12% | 8% | 12% | 12% | 10% | 9% | 11% |
| 117 | 67 | 69 | -42 | 70 | 178 | 153 | 180 | 177 | 306 | 534 | 487 | 333 | |
| Interest | 87 | 81 | 42 | 38 | 53 | 53 | 166 | 203 | 218 | 300 | 619 | 953 | 1,082 |
| Depreciation | 68 | 90 | 98 | 111 | 131 | 163 | 348 | 375 | 399 | 441 | 584 | 693 | 763 |
| Profit before tax | 1,010 | 1,049 | 868 | 973 | 1,530 | 1,957 | 2,102 | 1,327 | 2,904 | 4,447 | 4,623 | 4,535 | 6,443 |
| Tax % | 27% | 22% | 22% | 28% | 28% | 29% | 29% | 27% | 24% | 26% | 24% | 26% | |
| 735 | 816 | 675 | 697 | 1,102 | 1,389 | 1,493 | 974 | 2,198 | 3,274 | 3,496 | 3,337 | 4,766 | |
| EPS in Rs | 8.28 | 9.19 | 7.60 | 8.01 | 12.73 | 15.82 | 16.91 | 10.96 | 24.48 | 36.61 | 39.38 | 37.59 | 53.69 |
| Dividend Payout % | 25% | 25% | 29% | 32% | 29% | 32% | 24% | 37% | 31% | 27% | 28% | 29% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 18% |
| 5 Years: | 23% |
| 3 Years: | 28% |
| TTM: | 30% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 15% |
| 5 Years: | 17% |
| 3 Years: | 15% |
| TTM: | 51% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 29% |
| 5 Years: | 24% |
| 3 Years: | 19% |
| 1 Year: | 31% |
| Return on Equity | |
|---|---|
| 10 Years: | 26% |
| 5 Years: | 28% |
| 3 Years: | 32% |
| Last Year: | 32% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 89 | 89 | 89 | 89 | 89 | 89 | 89 | 89 | 89 | 89 | 89 | 89 | 89 |
| Reserves | 2,434 | 2,995 | 3,418 | 4,144 | 5,001 | 5,981 | 6,580 | 7,408 | 9,214 | 11,762 | 9,304 | 11,535 | 12,714 |
| 807 | 100 | 113 | 1,882 | 1,691 | 2,393 | 3,562 | 5,638 | 7,275 | 9,367 | 15,528 | 20,777 | 12,465 | |
| 2,781 | 2,684 | 2,723 | 2,293 | 2,740 | 3,247 | 3,313 | 3,309 | 4,610 | 5,802 | 6,626 | 8,244 | 26,762 | |
| Total Liabilities | 6,111 | 5,868 | 6,342 | 8,408 | 9,521 | 11,710 | 13,544 | 16,444 | 21,188 | 27,020 | 31,547 | 40,645 | 52,030 |
| 614 | 699 | 771 | 1,189 | 1,474 | 1,567 | 2,633 | 2,523 | 2,544 | 2,998 | 3,709 | 4,062 | 4,230 | |
| CWIP | 33 | 55 | 107 | 152 | 43 | 32 | 18 | 32 | 85 | 144 | 97 | 105 | 125 |
| Investments | 3 | 3 | 30 | 431 | 36 | 108 | 158 | 2,824 | 294 | 2,515 | 2,345 | 1,988 | 3,673 |
| 5,461 | 5,111 | 5,434 | 6,636 | 7,968 | 10,003 | 10,735 | 11,065 | 18,265 | 21,363 | 25,396 | 34,490 | 44,002 | |
| Total Assets | 6,111 | 5,868 | 6,342 | 8,408 | 9,521 | 11,710 | 13,544 | 16,444 | 21,188 | 27,020 | 31,547 | 40,645 | 52,030 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| -555 | 503 | 576 | 1,712 | -51 | 1,243 | -348 | 4,139 | -724 | 1,370 | 1,695 | -541 | |
| -271 | -118 | -159 | -953 | 98 | -797 | 235 | -2,799 | 1,165 | -1,814 | -189 | 546 | |
| 497 | -1,005 | -505 | -166 | -252 | -489 | -242 | -1,234 | -403 | 457 | -1,329 | -7 | |
| Net Cash Flow | -329 | -620 | -88 | 594 | -206 | -43 | -355 | 106 | 38 | 13 | 177 | -2 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 5 | 6 | 6 | 6 | 7 | 8 | 5 | 6 | 7 | 6 | 7 | 6 |
| Inventory Days | 175 | 169 | 198 | 189 | 185 | 178 | 195 | 187 | 230 | 199 | 176 | 217 |
| Days Payable | 39 | 81 | 74 | 30 | 27 | 23 | 14 | 18 | 22 | 15 | 13 | 15 |
| Cash Conversion Cycle | 142 | 94 | 131 | 165 | 164 | 163 | 186 | 176 | 215 | 191 | 171 | 208 |
| Working Capital Days | 28 | 59 | 74 | 42 | 60 | 55 | 69 | 36 | 68 | 51 | 42 | 35 |
| ROCE % | 42% | 35% | 27% | 23% | 25% | 26% | 24% | 13% | 21% | 25% | 23% | 19% |
Documents
Announcements
- Announcement under Regulation 30 (LODR)-Earnings Call Transcript 13 Feb
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Announcement under Regulation 30 (LODR)-Newspaper Publication
11 Feb - Newspaper publication for unaudited financial results for the quarter and nine months ended 31st December 2025
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Outcome
11 Feb - Audio recording of analyst call on Q3 and nine months results ended 31 Dec 2025 now available.
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Announcement under Regulation 30 (LODR)-Investor Presentation
10 Feb - Investor Presentation for the earnings call for the quarter and nine months ended 31st December 2025.
- Financial Results For The Quarter And Nine Months Ended 31St December 2025 10 Feb
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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Feb 2026Transcript PPT REC
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Nov 2025Transcript PPT REC
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Aug 2025Transcript PPT REC
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May 2025Transcript PPT REC
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Feb 2025Transcript PPT REC
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Nov 2024Transcript PPT REC
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Aug 2024Transcript PPT REC
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Aug 2024TranscriptAI SummaryPPTREC
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Jun 2024TranscriptAI SummaryPPT
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May 2024Transcript PPT
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May 2024TranscriptAI SummaryPPT REC
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Feb 2024Transcript PPT REC
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Nov 2023Transcript PPT REC
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Aug 2023Transcript PPT
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Aug 2023TranscriptAI SummaryPPT
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May 2023Transcript PPT
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Feb 2023Transcript PPT
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Nov 2022Transcript PPT
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Aug 2022Transcript PPT
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May 2022TranscriptAI SummaryPPT
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May 2022Transcript PPT
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May 2022TranscriptAI SummaryPPT
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Feb 2022Transcript PPT
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Nov 2021Transcript PPT
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Aug 2021TranscriptPPT
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Aug 2021Transcript PPT
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Apr 2021Transcript PPT
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Mar 2021Transcript PPT
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Feb 2021TranscriptAI SummaryPPT
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Oct 2020Transcript PPT
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Aug 2020Transcript PPT
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Aug 2020TranscriptAI SummaryPPT
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Jun 2020Transcript PPT
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Jun 2020TranscriptAI SummaryPPT
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Jun 2020TranscriptAI SummaryPPT
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Jun 2020TranscriptAI SummaryPPT
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Feb 2020Transcript PPT
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Feb 2020TranscriptPPT
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Nov 2019Transcript PPT
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Nov 2019TranscriptAI SummaryPPT
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Nov 2019TranscriptAI SummaryPPT
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Aug 2019Transcript PPT
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May 2019Transcript PPT
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May 2019TranscriptAI SummaryPPT
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Feb 2019Transcript PPT
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Nov 2018Transcript PPT
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Aug 2018Transcript PPT
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May 2018Transcript PPT
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Nov 2016TranscriptPPT
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]