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 130,877 Cr.
  • Current Price 1,474
  • High / Low 1,621 / 720
  • Stock P/E 173
  • Book Value 71.7
  • Dividend Yield 0.27 %
  • ROCE 24.3 %
  • ROE 23.6 %
  • Face Value 1.00

Pros

  • Company has been maintaining a healthy dividend payout of 28.24%

Cons

  • Stock is trading at 20.57 times its book value
  • Company might be capitalizing the interest cost
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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
4,107 4,451 4,567 5,871 4,889 5,151 4,661 6,527 4,712 1,979 4,553 7,619
3,674 3,969 4,100 5,280 4,440 4,579 4,142 5,769 4,099 2,236 4,241 6,771
Operating Profit 434 482 467 591 448 572 519 758 612 -257 312 848
OPM % 11% 11% 10% 10% 9% 11% 11% 12% 13% -13% 7% 11%
Other Income 13 36 28 63 56 57 32 23 42 41 48 40
Interest 17 11 13 16 12 34 45 45 43 52 49 51
Depreciation 36 41 43 38 41 76 82 88 102 93 94 96
Profit before tax 394 467 439 600 452 520 424 648 509 -361 217 741
Tax % 23% 30% 31% 31% 23% 30% 26% 27% 33% 18% 20% 28%
Net Profit 315 328 306 413 354 364 315 474 346 -291 175 525
EPS in Rs 3.55 3.70 3.45 4.65 3.98 4.10 3.55 5.34 3.90 -3.28 1.97 5.91
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
3,905 4,773 6,533 8,848 10,123 10,927 11,913 11,276 13,261 16,120 19,779 21,052 18,862
3,612 4,374 5,915 8,011 9,109 9,880 10,761 10,337 12,097 14,476 17,785 18,589 17,347
Operating Profit 293 399 618 838 1,014 1,047 1,152 939 1,164 1,644 1,994 2,463 1,515
OPM % 8% 8% 9% 9% 10% 10% 10% 8% 9% 10% 10% 12% 8%
Other Income 16 10 55 92 99 117 67 69 -42 70 178 153 171
Interest 29 25 35 44 51 87 81 42 38 53 53 166 195
Depreciation 42 61 35 46 56 68 90 98 111 131 163 348 385
Profit before tax 238 323 603 840 1,006 1,010 1,049 868 973 1,530 1,957 2,102 1,106
Tax % 31% 22% 28% 28% 28% 27% 22% 22% 28% 28% 29% 29%
Net Profit 164 251 433 601 725 735 816 675 711 1,130 1,404 1,501 755
EPS in Rs 1.85 2.83 4.88 6.77 8.17 8.28 9.19 7.60 8.01 12.73 15.82 16.91 8.50
Dividend Payout % 27% 26% 13% 26% 26% 25% 25% 29% 32% 29% 32% 24%
Compounded Sales Growth
10 Years:16%
5 Years:12%
3 Years:17%
TTM:-11%
Compounded Profit Growth
10 Years:19%
5 Years:13%
3 Years:24%
TTM:-50%
Stock Price CAGR
10 Years:24%
5 Years:34%
3 Years:22%
1 Year:19%
Return on Equity
10 Years:27%
5 Years:23%
3 Years:24%
Last Year:24%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
44 44 44 89 89 89 89 89 89 89 89 89 89
Reserves 513 688 991 1,372 1,881 2,434 2,995 3,418 4,144 5,001 5,981 6,580 6,275
Borrowings 167 73 68 6 0 807 100 113 1,882 1,691 2,393 3,561 3,494
1,059 1,300 2,655 3,243 3,914 2,781 2,684 2,723 2,293 2,740 3,247 3,314 3,980
Total Liabilities 1,783 2,105 3,758 4,710 5,884 6,111 5,868 6,342 8,408 9,521 11,710 13,544 13,838
280 268 288 384 464 614 699 771 1,189 1,474 1,567 2,633 2,594
CWIP 20 12 17 25 42 33 55 107 152 43 32 18 15
Investments 2 2 3 2 3 3 3 30 431 36 108 158 382
1,482 1,823 3,451 4,299 5,375 5,461 5,111 5,434 6,636 7,968 10,003 10,734 10,847
Total Assets 1,783 2,105 3,758 4,710 5,884 6,111 5,868 6,342 8,408 9,521 11,710 13,544 13,838

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
165 342 1,053 163 553 -555 503 576 1,712 -51 1,243 -347
-58 -32 -25 -70 -142 -271 -118 -159 -953 98 -797 235
-106 -169 -117 -235 -236 497 -1,005 -505 -166 -252 -489 -242
Net Cash Flow 1 141 912 -142 176 -329 -620 -88 594 -206 -43 -354

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 40% 46% 67% 69% 62% 42% 35% 27% 23% 25% 26% 24%
Debtor Days 10 7 7 7 6 5 6 6 6 7 8 5
Inventory Turnover 2.42 2.67 2.82 2.69 2.29 2.14 2.22 1.94 2.04 2.16 2.23 2.01

Shareholding Pattern

Numbers in percentages

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
52.91 52.91 52.91 52.91 52.91 52.91 52.91 52.91 52.91 52.91 52.90 52.90
20.72 20.53 19.50 18.46 19.24 19.64 18.77 18.31 17.74 17.55 18.05 18.59
6.11 6.45 7.59 8.16 7.21 6.69 8.66 9.10 10.87 10.81 10.97 10.86
0.17 0.17 0.18 0.19 0.17 0.17 0.17 0.18 0.23 0.36 0.35 0.35
20.10 19.95 19.82 20.29 20.47 20.60 19.50 19.50 18.26 18.38 17.73 17.30

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