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Titan Co

₹3600.6 -19.1 | 0.5%

Market Cap ₹319656 Cr.

Stock P/E 92.9

P/B 23.7

Current Price ₹3600.6

Book Value ₹ 151.6

Face Value 1

52W High ₹3885

Dividend Yield 0.28%

52W Low ₹ 2559.3

Titan Co Research see more...

Overview Inc. Year: 1984Industry: Diamond & Jewellery

Titan Company Limited is an totally India-based organization, that is commonly involved in the production and sale of watches, jewellery, eyewear and other accessories and merchandise. Its segments include Watches and Wearables, Jewellery, Eyewear and Others. The Watches and Wearables segment includes manufacturers, including Titan, Titan Clock, Fastrack, Sonata, Zoop, Octane, Xylys, Helios, Titan Raga, Favre-Leuba, Nebula and SF. The Jewellery section consists of manufacturers, which include Tanishq, Mia, Zoya and CaratLane. The Eyewear segment include Titan EyePlus brand. The Others section includes fragrances, Indian wear and add-ons. Its new commercial enterprise consists of manufacturers, including Skinn and Taneira. The Company's subsidiaries are Titan Engineering & Automation Ltd, Caratlane Trading Pvt Ltd, Favre Leuba AG, Titan Holdings International FZCO, Titan Commodity Trading Ltd and TCL North America Inc., amongst others.

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Titan Co Share Price

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Titan Co Quarterly Results

#(Fig in Cr.) Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
Net Sales 7493 10037 7796 9443 9163 11609 10360 11897 12529 14164
Other Income 55 57 76 44 61 89 114 114 124 136
Total Income 7548 10094 7872 9487 9224 11698 10474 12011 12653 14300
Total Expenditure 6525 8595 7002 8247 7916 10262 9271 10772 11118 12599
Operating Profit 1023 1499 870 1240 1308 1436 1203 1239 1535 1701
Interest 51 57 61 65 60 79 96 109 140 169
Depreciation 104 98 102 103 106 113 119 128 144 154
Exceptional Income / Expenses 0 0 -54 0 0 0 0 0 0 0
Profit Before Tax 868 1344 653 1072 1142 1244 988 1002 1251 1378
Provision for Tax 227 332 126 282 307 332 252 246 336 325
Profit After Tax 641 1012 527 790 835 912 736 756 915 1053
Adjustments -2 -8 -17 -5 -4 -8 -6 -3 0 0
Profit After Adjustments 639 1004 510 785 831 904 730 753 915 1053
Adjusted Earnings Per Share 7.2 11.3 5.7 8.8 9.3 10.2 8.2 8.5 10.3 11.8

Titan Co Profit & Loss

#(Fig in Cr.) Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
Net Sales 10123 10927 11913 11276 13261 16120 19779 21052 21644 28799 40575 48950
Other Income 107 120 71 100 72 89 185 153 187 238 343 488
Total Income 10230 11048 11984 11375 13333 16209 19964 21205 21831 29037 40918 49438
Total Expenditure 9117 9883 10765 10367 12107 14475 17789 18585 19921 25462 35731 43760
Operating Profit 1113 1165 1219 1009 1226 1734 2174 2620 1910 3575 5187 5678
Interest 51 87 81 42 38 53 53 166 203 218 300 514
Depreciation 56 68 90 98 111 131 163 348 375 399 441 545
Exceptional Income / Expenses 0 0 0 0 -103 -17 0 0 0 -54 0 0
Profit Before Tax 1007 1010 1049 868 973 1530 1957 2102 1327 2904 4447 4619
Provision for Tax 282 275 233 192 276 428 568 609 353 706 1173 1159
Profit After Tax 725 735 816 677 697 1102 1389 1493 974 2198 3274 3460
Adjustments 0 0 0 -2 14 28 16 8 -1 -25 -24 -9
Profit After Adjustments 725 735 816 675 711 1130 1404 1501 973 2173 3250 3451
Adjusted Earnings Per Share 8.2 8.3 9.2 7.6 8 12.7 15.8 16.9 10.9 24.4 36.5 38.8

Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 41% 24% 20% 15%
Operating Profit CAGR 45% 26% 25% 17%
PAT CAGR 49% 30% 24% 16%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR 38% 33% 27% 30%
ROE Average 31% 24% 24% 26%
ROCE Average 27% 22% 24% 30%

Titan Co Balance Sheet

#(Fig in Cr.) Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Shareholder's Funds 1970 2523 3084 3506 4232 5090 6070 6669 7497 9303 11851
Minority's Interest 0 0 0 0 26 -2 14 4 5 30 53
Borrowings 0 0 0 0 0 0 32 17 9 2 0
Other Non-Current Liabilities 57 65 71 1843 118 85 63 1073 1122 1160 1697
Total Current Liabilities 3849 3514 2694 2714 4028 4315 5462 5628 7714 10512 13264
Total Liabilities 5876 6102 5849 8063 8404 9488 11641 13391 16347 21007 26865
Fixed Assets 464 614 699 761 1178 1451 1543 2609 2499 2543 2997
Other Non-Current Assets 218 255 302 2177 491 436 511 661 651 1010 1461
Total Current Assets 5194 5233 4847 5125 6736 7601 9587 10121 13197 17454 22389
Total Assets 5876 6102 5849 8063 8404 9488 11641 13391 16347 21007 26865

Titan Co Cash Flow

#(Fig in Cr.) Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Opening Cash & Cash Equivalents 964 1121 792 171 117 678 472 430 75 181 219
Cash Flow from Operating Activities 553 -555 503 576 1712 -51 1243 -348 4139 -724 1370
Cash Flow from Investing Activities -142 -272 -119 -159 -984 96 -798 235 -2801 1164 -1811
Cash Flow from Financing Activities -236 497 -1005 -505 -166 -252 -489 -242 -1234 -403 457
Net Cash Inflow / Outflow 176 -329 -621 -88 562 -207 -44 -355 104 37 16
Closing Cash & Cash Equivalent 1140 792 171 84 679 472 430 75 181 219 232

Titan Co Ratios

# Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Earnings Per Share (Rs) 8.17 8.28 9.19 7.6 8.01 12.73 15.82 16.87 10.93 24.42 36.52
CEPS(Rs) 8.8 9.04 10.2 8.73 9.1 13.89 17.48 20.69 15.16 29.18 41.74
DPS(Rs) 2.1 2.1 2.3 2.2 2.6 3.75 5 4 4 7.5 10
Book NAV/Share(Rs) 22.19 28.42 34.74 39.49 47.68 57.3 68.33 74.89 84.19 104.46 133.08
Core EBITDA Margin(%) 9.85 9.52 9.61 8.04 8.63 10.18 10.06 11.72 7.96 11.59 11.94
EBIT Margin(%) 10.35 10 9.45 8.05 7.55 9.8 10.16 10.77 7.07 10.84 11.7
Pre Tax Margin(%) 9.85 9.21 8.78 7.68 7.27 9.47 9.89 9.98 6.13 10.08 10.96
PAT Margin (%) 7.09 6.7 6.83 5.98 5.21 6.82 7.02 7.09 4.5 7.63 8.07
Cash Profit Margin (%) 7.65 7.31 7.58 6.85 6.04 7.63 7.84 8.75 6.23 9.02 9.16
ROA(%) 13.7 12.27 13.66 9.73 8.47 12.32 13.14 11.93 6.55 11.77 13.68
ROE(%) 42.26 32.71 29.12 20.53 18.02 23.65 24.9 23.45 13.76 26.18 30.97
ROCE(%) 61.32 41.35 34.69 26.77 20.77 24.55 26.36 25.99 14.66 23.04 27.47
Receivable days 5.91 5.32 5.25 6.17 5.46 5.69 6.61 6.35 5.72 5.9 5.57
Inventory Days 117.21 125.61 120.94 137.1 127.82 122.57 119.62 131.26 139.22 139.52 135.8
Payable days 97.39 67.13 58.38 80.1 46.71 26.05 22.62 18.09 15.4 17.57 15.08
PER(x) 31.39 31.7 42.64 44.59 57.56 73.94 71.92 55.35 142.45 103.87 68.87
Price/Book(x) 11.56 9.24 11.29 8.58 9.67 16.43 16.65 12.47 18.5 24.28 18.9
Dividend Yield(%) 0.82 0.8 0.59 0.65 0.56 0.4 0.44 0.43 0.26 0.3 0.4
EV/Net Sales(x) 2.14 2.12 2.91 2.67 3.17 5.25 5.17 4.04 6.58 7.99 5.67
EV/Core EBITDA(x) 19.44 19.93 28.45 29.82 34.31 48.82 47.05 32.45 74.57 64.35 44.34
Net Sales Growth(%) 14.41 7.94 9.02 -5.35 17.6 21.56 22.7 6.44 2.81 33.06 40.89
EBIT Growth(%) 19.56 3.77 2.97 -19.4 11.04 56.55 26.96 12.87 -32.54 104.05 52.05
PAT Growth(%) 20.52 1.35 11.09 -17.12 3.07 58.03 26.02 7.51 -34.76 125.67 48.95
EPS Growth(%) 20.62 1.32 11.07 -17.36 5.48 58.84 24.25 6.63 -35.18 123.33 49.56
Debt/Equity(x) 0 0.32 0.03 0.03 0.44 0.33 0.39 0.35 0.58 0.64 0.63
Current Ratio(x) 1.35 1.49 1.8 1.89 1.67 1.76 1.76 1.8 1.71 1.66 1.69
Quick Ratio(x) 0.39 0.39 0.3 0.25 0.45 0.39 0.47 0.36 0.62 0.37 0.44
Interest Cover(x) 20.87 12.59 14 21.49 26.79 29.91 38.25 13.66 7.54 14.32 15.82
Total Debt/Mcap(x) 0 0.03 0 0 0.05 0.02 0.02 0.03 0.03 0.03 0.03

Titan Co Shareholding Pattern

# Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
Promoter 52.9 52.9 52.9 52.9 52.9 52.9 52.9 52.9 52.9 52.9
FII 19.06 18.55 18.4 16.77 17.04 17.53 17.51 18.53 19.05 18.89
DII 10.26 10.47 10.37 11.42 11.89 11.31 11.4 10.64 10.05 10.44
Public 17.78 18.09 18.33 18.91 18.17 18.26 18.19 17.94 18.01 17.78
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Pros

  • Company has delivered good profit growth of 24% CAGR over last 5 years
  • Company has a good return on equity (ROE) track record: 3 Years ROE 24%
  • Debtor days have improved from 17.57 to 15.08days.
  • Company has reduced debt.

Cons

  • Stock is trading at 23.7 times its book value.

* 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.

Titan Co News

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