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 158,084 Cr.
  • Current Price 1,781
  • High / Low 1,793 / 935
  • Stock P/E 162
  • Book Value 84.4
  • Dividend Yield 0.22 %
  • ROCE 13.1 %
  • ROE 13.7 %
  • Face Value 1.00

Pros

  • Company has been maintaining a healthy dividend payout of 30.62%

Cons

  • Stock is trading at 21.09 times its book value
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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
4,451 4,567 5,871 4,889 5,151 4,661 6,527 4,712 1,979 4,553 7,619 7,494
3,969 4,100 5,280 4,440 4,579 4,142 5,769 4,099 2,236 4,241 6,771 6,677
Operating Profit 482 467 591 448 572 519 758 612 -257 312 848 817
OPM % 11% 10% 10% 9% 11% 11% 12% 13% -13% 7% 11% 11%
Other Income 36 28 63 56 57 32 23 42 41 48 40 57
Interest 11 13 16 12 34 45 45 43 52 49 51 51
Depreciation 41 43 38 41 76 82 88 102 93 94 96 93
Profit before tax 467 439 600 452 520 424 648 509 -361 217 741 730
Tax % 30% 31% 31% 23% 30% 26% 27% 33% 18% 20% 28% 22%
Net Profit 328 306 413 354 364 315 474 346 -291 175 525 564
EPS in Rs 3.70 3.45 4.65 3.98 4.10 3.55 5.34 3.90 -3.28 1.97 5.91 6.35

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
4,773 6,533 8,848 10,123 10,927 11,913 11,276 13,261 16,120 19,779 21,052 21,644
4,374 5,915 8,011 9,109 9,880 10,761 10,337 12,097 14,476 17,785 18,589 19,925
Operating Profit 399 618 838 1,014 1,047 1,152 939 1,164 1,644 1,994 2,463 1,719
OPM % 8% 9% 9% 10% 10% 10% 8% 9% 10% 10% 12% 8%
Other Income 10 55 92 99 117 67 69 -42 70 178 153 186
Interest 25 35 44 51 87 81 42 38 53 53 166 203
Depreciation 61 35 46 56 68 90 98 111 131 163 348 375
Profit before tax 323 603 840 1,006 1,010 1,049 868 973 1,530 1,957 2,102 1,327
Tax % 22% 28% 28% 28% 27% 22% 22% 28% 28% 29% 29% 27%
Net Profit 251 433 601 725 735 816 675 711 1,130 1,404 1,501 973
EPS in Rs 2.83 4.88 6.77 8.17 8.28 9.19 7.60 8.01 12.73 15.82 16.91 10.96
Dividend Payout % 26% 13% 26% 26% 25% 25% 29% 32% 29% 32% 24% 37%
Compounded Sales Growth
10 Years:13%
5 Years:14%
3 Years:10%
TTM:3%
Compounded Profit Growth
10 Years:8%
5 Years:7%
3 Years:-5%
TTM:-35%
Stock Price CAGR
10 Years:24%
5 Years:35%
3 Years:27%
1 Year:80%
Return on Equity
10 Years:24%
5 Years:21%
3 Years:20%
Last Year:14%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

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 688 991 1,372 1,881 2,434 2,995 3,418 4,144 5,001 5,981 6,580 7,408
Borrowings 73 68 6 0 807 100 113 1,882 1,691 2,393 3,561 5,631
1,300 2,655 3,243 3,914 2,781 2,684 2,723 2,293 2,740 3,247 3,314 3,324
Total Liabilities 2,105 3,758 4,710 5,884 6,111 5,868 6,342 8,408 9,521 11,710 13,544 16,452
268 288 384 464 614 699 771 1,189 1,474 1,567 2,633 2,536
CWIP 12 17 25 42 33 55 107 152 43 32 18 19
Investments 2 3 2 3 3 3 30 431 36 108 158 2,824
1,823 3,451 4,299 5,375 5,461 5,111 5,434 6,636 7,968 10,003 10,734 11,073
Total Assets 2,105 3,758 4,710 5,884 6,111 5,868 6,342 8,408 9,521 11,710 13,544 16,452

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

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 1,053 163 553 -555 503 576 1,712 -51 1,243 -347 4,139
-32 -25 -70 -142 -271 -118 -159 -953 98 -797 235 -2,801
-169 -117 -235 -236 497 -1,005 -505 -166 -252 -489 -242 -1,234
Net Cash Flow 141 912 -142 176 -329 -620 -88 594 -206 -43 -354 104

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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% 23% 25% 26% 24% 13%
Debtor Days 7 7 7 6 5 6 6 6 7 8 5 6
Inventory Turnover 2.67 2.82 2.69 2.29 2.14 2.22 1.94 2.04 2.16 2.23 2.01 1.99

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
52.91 52.91 52.91 52.91 52.91 52.91 52.91 52.91 52.91 52.90 52.90 52.90
20.53 19.50 18.46 19.24 19.64 18.77 18.31 17.74 17.55 18.05 18.59 18.10
6.45 7.59 8.16 7.21 6.69 8.66 9.10 10.87 10.81 10.97 10.86 11.13
0.17 0.18 0.19 0.17 0.17 0.17 0.18 0.23 0.36 0.35 0.35 0.35
19.95 19.82 20.29 20.47 20.60 19.50 19.50 18.26 18.38 17.73 17.30 17.53

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