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 ₹ 3,14,440 Cr.
- Current Price ₹ 3,541
- High / Low ₹ 3,867 / 2,925
- Stock P/E 94.2
- Book Value ₹ 131
- Dividend Yield 0.31 %
- ROCE 22.2 %
- ROE 31.8 %
- Face Value ₹ 1.00
Pros
- 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 27.0 times its book value
- Company might be capitalizing the interest cost
* 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.
Peer comparison
Sector: Diamond, Gems and Jewellery Industry: Diamond Cutting / Jewellery
Part of BSE Sensex Nifty 50 BSE 500 BSE Consumer Durables BSE 100
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 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
10,927 | 11,913 | 11,276 | 13,261 | 16,120 | 19,779 | 21,052 | 21,644 | 28,799 | 40,575 | 51,084 | 60,456 | |
9,880 | 10,761 | 10,337 | 12,097 | 14,476 | 17,785 | 18,589 | 19,919 | 25,455 | 35,693 | 45,792 | 54,762 | |
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 |
OPM % | 10% | 10% | 8% | 9% | 10% | 10% | 12% | 8% | 12% | 12% | 10% | 9% |
117 | 67 | 69 | -42 | 70 | 178 | 153 | 180 | 177 | 306 | 534 | 487 | |
Interest | 87 | 81 | 42 | 38 | 53 | 53 | 166 | 203 | 218 | 300 | 619 | 953 |
Depreciation | 68 | 90 | 98 | 111 | 131 | 163 | 348 | 375 | 399 | 441 | 584 | 693 |
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 |
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 | |
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 |
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: | 18% |
Compounded Profit Growth | |
---|---|
10 Years: | 15% |
5 Years: | 17% |
3 Years: | 15% |
TTM: | -5% |
Stock Price CAGR | |
---|---|
10 Years: | 25% |
5 Years: | 33% |
3 Years: | 18% |
1 Year: | 5% |
Return on Equity | |
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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 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 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 |
807 | 100 | 113 | 1,882 | 1,691 | 2,393 | 3,562 | 5,638 | 7,275 | 9,367 | 15,528 | 12,967 | |
2,781 | 2,684 | 2,723 | 2,293 | 2,740 | 3,247 | 3,313 | 3,309 | 4,610 | 5,802 | 6,626 | 16,056 | |
Total Liabilities | 6,111 | 5,868 | 6,342 | 8,408 | 9,521 | 11,710 | 13,544 | 16,444 | 21,188 | 27,020 | 31,547 | 40,647 |
614 | 699 | 771 | 1,189 | 1,474 | 1,567 | 2,633 | 2,523 | 2,544 | 2,998 | 3,709 | 4,074 | |
CWIP | 33 | 55 | 107 | 152 | 43 | 32 | 18 | 32 | 85 | 144 | 97 | 93 |
Investments | 3 | 3 | 30 | 431 | 36 | 108 | 158 | 2,824 | 294 | 2,515 | 2,345 | 1,988 |
5,461 | 5,111 | 5,434 | 6,636 | 7,968 | 10,003 | 10,735 | 11,065 | 18,265 | 21,363 | 25,396 | 34,492 | |
Total Assets | 6,111 | 5,868 | 6,342 | 8,408 | 9,521 | 11,710 | 13,544 | 16,444 | 21,188 | 27,020 | 31,547 | 40,647 |
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 | |
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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 | 55 | 62 | 78 | 94 | 99 | 99 | 112 | 113 | 146 | 121 | 115 | 103 |
ROCE % | 42% | 35% | 27% | 23% | 25% | 26% | 24% | 13% | 21% | 25% | 23% | 22% |
Documents
Announcements
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Intimation of Repayment of Commercial Paper (CP)
13 May - Titan Company redeemed ₹1000 crore commercial papers issued on 12 March 2025 on 13 May 2025.
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Resignation Of Senior Management Personnel Of The Company
13 May - CEO of Watches & Wearables Division resigns effective 12 Aug 2025 for personal reasons.
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
12 May - Titan's Q4 FY25 earnings call discusses performance, consumer trends, margins, and growth outlook.
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Compliances-Reg.24(A)-Annual Secretarial Compliance
9 May - Annual Secretarial Compliance Report with minor Rs.20,000 fine for delayed record date notice submission.
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Announcement under Regulation 30 (LODR)-Newspaper Publication
9 May - Newspaper publication for Audited financial result for the fourth quarter and year ended 31st March 2025
Annual reports
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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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Financial Year 2010
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Concalls
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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 2024TranscriptPPTREC
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Aug 2024TranscriptNotesPPT REC
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Nov 2023Transcript PPT REC
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Apr 2021Transcript PPT
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Mar 2021Transcript PPT
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Oct 2020Transcript PPT
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Jun 2020Transcript PPT
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Nov 2019Transcript PPT
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Nov 2019TranscriptNotesPPT
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Aug 2019Transcript PPT
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May 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]