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 ₹ 4,12,235 Cr.
- Current Price ₹ 4,643
- High / Low ₹ 4,680 / 3,301
- Stock P/E 80.0
- Book Value ₹ 177
- Dividend Yield 0.32 %
- ROCE 20.5 %
- ROE 37.7 %
- 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 34.4%
- Company has been maintaining a healthy dividend payout of 27.9%
- Company's median sales growth is 22.1% of last 10 years
Cons
- Stock is trading at 26.2 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.
Quarterly Results
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 11,913 | 11,276 | 13,261 | 16,120 | 19,779 | 21,052 | 21,644 | 28,799 | 40,575 | 51,084 | 60,456 | 87,584 | |
| 10,761 | 10,337 | 12,097 | 14,476 | 17,785 | 18,589 | 19,919 | 25,455 | 35,693 | 45,792 | 54,762 | 79,227 | |
| Operating Profit | 1,153 | 939 | 1,164 | 1,644 | 1,994 | 2,463 | 1,725 | 3,344 | 4,882 | 5,292 | 5,694 | 8,357 |
| OPM % | 10% | 8% | 9% | 10% | 10% | 12% | 8% | 12% | 12% | 10% | 9% | 10% |
| 67 | 69 | -42 | 70 | 178 | 153 | 180 | 177 | 306 | 534 | 487 | 450 | |
| Interest | 81 | 42 | 38 | 53 | 53 | 166 | 203 | 218 | 300 | 619 | 953 | 1,180 |
| Depreciation | 90 | 98 | 111 | 131 | 163 | 348 | 375 | 399 | 441 | 584 | 693 | 826 |
| Profit before tax | 1,049 | 868 | 973 | 1,530 | 1,957 | 2,102 | 1,327 | 2,904 | 4,447 | 4,623 | 4,535 | 6,801 |
| Tax % | 22% | 22% | 28% | 28% | 29% | 29% | 27% | 24% | 26% | 24% | 26% | 25% |
| 816 | 675 | 697 | 1,102 | 1,389 | 1,493 | 974 | 2,198 | 3,274 | 3,496 | 3,337 | 5,073 | |
| EPS in Rs | 9.19 | 7.60 | 8.01 | 12.73 | 15.82 | 16.91 | 10.96 | 24.48 | 36.61 | 39.38 | 37.59 | 57.14 |
| Dividend Payout % | 25% | 29% | 32% | 29% | 32% | 24% | 37% | 31% | 27% | 28% | 29% | 26% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | 23% |
| 5 Years: | 32% |
| 3 Years: | 29% |
| TTM: | 45% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | 22% |
| 5 Years: | 40% |
| 3 Years: | 17% |
| TTM: | 54% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | 27% |
| 5 Years: | 22% |
| 3 Years: | 16% |
| 1 Year: | 35% |
| Return on Equity | |
|---|---|
| 10 Years: | 29% |
| 5 Years: | 32% |
| 3 Years: | 34% |
| Last Year: | 38% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Equity Capital | 89 | 89 | 89 | 89 | 89 | 89 | 89 | 89 | 89 | 89 | 89 | 89 |
| Reserves | 2,995 | 3,418 | 4,144 | 5,001 | 5,981 | 6,580 | 7,408 | 9,214 | 11,762 | 9,304 | 11,535 | 15,614 |
| 100 | 113 | 1,882 | 1,691 | 2,393 | 3,562 | 5,638 | 7,275 | 9,367 | 15,528 | 20,777 | 30,621 | |
| 2,684 | 2,723 | 2,293 | 2,740 | 3,247 | 3,313 | 3,309 | 4,610 | 5,802 | 6,626 | 8,244 | 14,237 | |
| Total Liabilities | 5,868 | 6,342 | 8,408 | 9,521 | 11,710 | 13,544 | 16,444 | 21,188 | 27,020 | 31,547 | 40,645 | 60,561 |
| 699 | 771 | 1,189 | 1,474 | 1,567 | 2,633 | 2,523 | 2,544 | 2,998 | 3,709 | 4,062 | 6,878 | |
| CWIP | 55 | 107 | 152 | 43 | 32 | 18 | 32 | 85 | 144 | 97 | 105 | 163 |
| Investments | 3 | 30 | 431 | 36 | 108 | 158 | 2,824 | 294 | 2,515 | 2,345 | 1,988 | 3,506 |
| 5,111 | 5,434 | 6,636 | 7,968 | 10,003 | 10,735 | 11,065 | 18,265 | 21,363 | 25,396 | 34,490 | 50,014 | |
| Total Assets | 5,868 | 6,342 | 8,408 | 9,521 | 11,710 | 13,544 | 16,444 | 21,188 | 27,020 | 31,547 | 40,645 | 60,561 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 503 | 576 | 1,712 | -51 | 1,243 | -348 | 4,139 | -724 | 1,370 | 1,695 | -541 | 5,590 | |
| -118 | -159 | -953 | 98 | -797 | 235 | -2,799 | 1,165 | -1,814 | -189 | 546 | -2,965 | |
| -1,005 | -505 | -166 | -252 | -489 | -242 | -1,234 | -403 | 457 | -1,329 | -7 | -2,159 | |
| Net Cash Flow | -620 | -88 | 594 | -206 | -43 | -355 | 106 | 38 | 13 | 177 | -2 | 466 |
| Free Cash Flow | 296 | 324 | 1,461 | -350 | 980 | -693 | 4,000 | -940 | 950 | 1,024 | -1,011 | 4,713 |
| CFO/OP | 65% | 83% | 171% | 25% | 94% | 8% | 256% | 2% | 52% | 54% | 10% | 88% |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debtor Days | 6 | 6 | 6 | 7 | 8 | 5 | 6 | 7 | 6 | 7 | 6 | 4 |
| Inventory Days | 169 | 198 | 189 | 185 | 178 | 195 | 187 | 230 | 199 | 176 | 217 | 222 |
| Days Payable | 81 | 74 | 30 | 27 | 23 | 14 | 18 | 22 | 15 | 13 | 15 | 15 |
| Cash Conversion Cycle | 94 | 131 | 165 | 164 | 163 | 186 | 176 | 215 | 191 | 171 | 208 | 211 |
| Working Capital Days | 59 | 74 | 42 | 60 | 55 | 69 | 36 | 68 | 51 | 42 | 35 | 28 |
| ROCE % | 35% | 27% | 23% | 25% | 26% | 24% | 13% | 21% | 25% | 23% | 19% | 21% |
Insights
In beta| Mar 2025 | Mar 2026 | |
|---|---|---|
| Encircle Members (Loyalty Program) million |
|
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| Jewellery Market Share (India) % |
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| Total Stores (Consolidated) count |
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| Town Presence (Consolidated) count |
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| Watches Analog Market Share (India) % |
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| CaratLane Stores (Domestic) count |
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| EyeCare Stores (Domestic) count |
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| Tanishq, Mia, Zoya, beYon Stores (Domestic) count |
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Extracted by Screener AI
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
14 Jul - Titan Company to announce Q1 FY26-27 results on 7 August 2026, followed by 6:00 p.m. earnings call.
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Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
14 Jul - Regulation 74(5) certificate filed for quarter ended June 30, 2026.
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Board Meeting Intimation for Consider And Approve The Unaudited Financial Results For The Quarter Ended 30Th June 2026
14 Jul - Board meeting on 7 August 2026 to consider Q1 FY27 unaudited standalone and consolidated results.
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Announcement Under Regulation 30 Of SEBI LODR 2015
14 Jul - Titan received income tax penalty orders for AY 2017-18 and 2019-20 totaling INR 4.27 crore; appeal planned.
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Announcement under Regulation 30 (LODR)-Credit Rating
7 Jul - ICRA reaffirmed Titan’s ratings on Rs 18,750 crore facilities on 6 July 2026.
Annual reports
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Financial Year 2026
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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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Concalls
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Part of the Tata Group[1] [2]
The company benefits from its association with the Tata Group, one of India’s most established and diversified business conglomerates. As of FY26, the Tata Group held a 25% stake in the company, including a 21% shareholding through Tata Sons Pvt Ltd., while Tamil Nadu Industrial Development Corporation Limited (TIDCO) held 28%.