Titan Company Ltd

Titan Company Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Titan Company Ltd

₹ 2,802 -0.35%
30 May - close price
titancompany.in BSE: 500114 NSE : TITAN
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

Jewellery Division (89% of revenues) [1]
The company is the largest jewelry retailer in the country with manufacturing facilities located in Hosur, Pantnagar & Sikkim It sells jewelry through its brands Tanishq, Zoya, Mia & Caratlane. [2] [3]
This division has a strong retail presence of a total of ~580 retail stores. In FY22, Tanishq opened 36 new stores, Zoya added 1 store, CaratLane added 31 stores, and Mia by Tanishq added 10 stores.[4]
The company owns 72.3% economic interest in CaratLane which makes it a majority-owned subsidiary. [5]

Website BSE NSE
  • Market Cap ₹ 2,48,802 Cr.
  • Current Price ₹ 2,802
  • High / Low ₹ 2,842 / 1,825
  • Stock P/E 76.6
  • Book Value ₹ 133
  • Dividend Yield 0.36 %
  • ROCE 25.1 %
  • ROE 30.7 %
  • Face Value ₹ 1.00
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Pros

  • Company is expected to give good quarter
  • Company has delivered good profit growth of 23.8% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 31.6%

Cons

  • Stock is trading at 21.0 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

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023
4,712 1,979 4,553 7,619 7,494 3,473 7,493 10,037 7,796 9,443 9,163 11,609 10,360
4,099 2,236 4,241 6,771 6,677 3,336 6,525 8,595 7,002 8,247 7,916 10,262 9,271
Operating Profit 612 -257 312 848 817 137 968 1,442 794 1,196 1,247 1,347 1,089
OPM % 13% -13% 7% 11% 11% 4% 13% 14% 10% 13% 14% 12% 11%
42 41 48 40 57 46 55 57 22 44 61 90 114
Interest 43 52 49 51 51 49 51 57 61 65 60 79 96
Depreciation 102 93 94 96 93 95 104 98 102 103 106 113 119
Profit before tax 509 -361 217 741 730 39 868 1,344 653 1,072 1,142 1,245 988
Tax % 33% 18% 20% 28% 22% 54% 26% 25% 19% 26% 27% 27% 26%
Net Profit 343 -297 173 530 568 18 641 1,012 527 790 835 913 736
EPS in Rs 3.90 -3.28 1.97 5.91 6.35 0.23 7.20 11.31 5.74 8.84 9.36 10.18 8.22
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Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
8,848 10,123 10,927 11,913 11,276 13,261 16,120 19,779 21,052 21,644 28,799 40,575
8,011 9,109 9,880 10,761 10,337 12,097 14,476 17,785 18,589 19,919 25,455 35,696
Operating Profit 838 1,014 1,047 1,153 939 1,164 1,644 1,994 2,463 1,725 3,344 4,879
OPM % 9% 10% 10% 10% 8% 9% 10% 10% 12% 8% 12% 12%
92 99 117 67 69 -42 70 178 153 180 177 309
Interest 44 51 87 81 42 38 53 53 166 203 218 300
Depreciation 46 56 68 90 98 111 131 163 348 375 399 441
Profit before tax 840 1,006 1,010 1,049 868 973 1,530 1,957 2,102 1,327 2,904 4,447
Tax % 28% 28% 27% 22% 22% 28% 28% 29% 29% 27% 24% 26%
Net Profit 601 725 735 816 675 697 1,102 1,389 1,493 974 2,198 3,274
EPS in Rs 6.77 8.17 8.28 9.19 7.60 8.01 12.73 15.82 16.91 10.96 24.48 36.61
Dividend Payout % 26% 26% 25% 25% 29% 32% 29% 32% 24% 37% 31% 27%
Compounded Sales Growth
10 Years: 15%
5 Years: 20%
3 Years: 24%
TTM: 41%
Compounded Profit Growth
10 Years: 16%
5 Years: 24%
3 Years: 30%
TTM: 47%
Stock Price CAGR
10 Years: 25%
5 Years: 26%
3 Years: 47%
1 Year: 26%
Return on Equity
10 Years: 24%
5 Years: 24%
3 Years: 25%
Last Year: 31%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
89 89 89 89 89 89 89 89 89 89 89 89
Reserves 1,372 1,881 2,434 2,995 3,418 4,144 5,001 5,981 6,580 7,408 9,214 11,762
6 0 807 100 113 1,882 1,691 2,393 3,562 5,638 7,275 9,367
3,243 3,914 2,781 2,684 2,723 2,293 2,740 3,247 3,313 3,309 4,610 5,805
Total Liabilities 4,710 5,884 6,111 5,868 6,342 8,408 9,521 11,710 13,544 16,444 21,188 27,023
384 464 614 699 771 1,189 1,474 1,567 2,633 2,523 2,544 3,009
CWIP 25 42 33 55 107 152 43 32 18 32 85 133
Investments 2 3 3 3 30 431 36 108 158 2,824 294 2,515
4,299 5,375 5,461 5,111 5,434 6,636 7,968 10,003 10,735 11,065 18,265 21,366
Total Assets 4,710 5,884 6,111 5,868 6,342 8,408 9,521 11,710 13,544 16,444 21,188 27,023

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
163 553 -555 503 576 1,712 -51 1,243 -348 4,139 -724 1,370
-70 -142 -271 -118 -159 -953 98 -797 235 -2,799 1,165 -1,811
-235 -236 497 -1,005 -505 -166 -252 -489 -242 -1,234 -403 457
Net Cash Flow -142 176 -329 -620 -88 594 -206 -43 -355 106 38 16

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 7 6 5 6 6 6 7 8 5 6 7 6
Inventory Days 161 179 175 169 198 189 185 178 195 187 230 199
Days Payable 106 102 39 81 74 30 27 23 14 18 22 15
Cash Conversion Cycle 62 83 142 94 131 165 164 163 186 176 215 191
Working Capital Days 1 7 55 62 78 94 99 99 112 113 146 140
ROCE % 69% 62% 42% 35% 27% 23% 25% 26% 24% 13% 21% 25%

Shareholding Pattern

Numbers in percentages

3 Recently
Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023
52.91 52.90 52.90 52.90 52.90 52.90 52.90 52.90 52.90 52.90 52.90 52.90
17.55 18.05 18.59 18.10 18.41 19.06 18.56 18.40 16.77 17.04 17.53 17.51
10.81 10.97 10.86 11.13 9.87 10.10 10.29 10.21 11.26 11.71 11.14 11.23
0.36 0.35 0.35 0.35 0.21 0.16 0.16 0.16 0.16 0.17 0.17 0.17
18.38 17.73 17.30 17.53 18.61 17.78 18.09 18.33 18.91 18.17 18.26 18.19

* 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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