Titan Co

₹2865.2 -11.7 | 0.4%

WEBSITE BSE:500114 NSE : TITAN 09 Jun, 13:37

Market Cap ₹254413 Cr.

Stock P/E 78.5

P/B 21.5

Current Price ₹2865.2

Book Value ₹ 133.5

Face Value 1

52W High ₹2922.2

Dividend Yield 0.35%

52W Low ₹ 1827.2

Edit Ratio

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.

Titan Co Share Price

Volume

Price

Price: NSE50 DMA200 DMAVolume

Quarterly Price

Quarterly Monthly

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Peer Comparison

Titan Co Quarterly Results

#(Fig in Cr.)	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023
Net Sales	7619	7494	3473	7493	10037	7796	9443	9163	11609	10360
Other Income	40	57	46	55	57	76	44	61	89	114
Total Income	7659	7551	3519	7548	10094	7872	9487	9224	11698	10474
Total Expenditure	6771	6677	3336	6525	8595	7002	8247	7916	10262	9271
Operating Profit	888	874	183	1023	1499	870	1240	1308	1436	1203
Interest	51	51	49	51	57	61	65	60	79	96
Depreciation	96	93	95	104	98	102	103	106	113	119
Exceptional Income / Expenses	0	0	0	0	0	-54	0	0	0	0
Profit Before Tax	741	730	39	868	1344	653	1072	1142	1244	988
Provision for Tax	211	162	21	227	332	126	282	307	332	252
Profit After Tax	530	568	18	641	1012	527	790	835	912	736
Adjustments	-5	-4	2	-2	-8	-17	-5	-4	-8	-6
Profit After Adjustments	525	564	20	639	1004	510	785	831	904	730
Adjusted Earnings Per Share	5.9	6.3	0.2	7.2	11.3	5.7	8.8	9.3	10.2	8.2

Titan Co Profit & Loss

#(Fig in Cr.)	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	TTM
Net Sales	8848	10123	10927	11913	11276	13261	16120	19779	21052	21644	28799	40575
Other Income	102	107	120	71	100	72	89	185	153	187	238	308
Total Income	8950	10230	11048	11984	11375	13333	16209	19964	21205	21831	29037	40883
Total Expenditure	8020	9117	9883	10765	10367	12107	14475	17789	18585	19921	25462	35696
Operating Profit	930	1113	1165	1219	1009	1226	1734	2174	2620	1910	3575	5187
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
Exceptional Income / Expenses	0	0	0	0	0	-103	-17	0	0	0	-54	0
Profit Before Tax	840	1007	1010	1049	868	973	1530	1957	2102	1327	2904	4446
Provision for Tax	239	282	275	233	192	276	428	568	609	353	706	1173
Profit After Tax	601	725	735	816	677	697	1102	1389	1493	974	2198	3273
Adjustments	-0	0	0	0	-2	14	28	16	8	-1	-25	-23
Profit After Adjustments	601	725	735	816	675	711	1130	1404	1501	973	2173	3250
Adjusted Earnings Per Share	6.8	8.2	8.3	9.2	7.6	8	12.7	15.8	16.9	10.9	24.4	36.5

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	33%	13%	17%	13%
Operating Profit CAGR	87%	18%	24%	14%
PAT CAGR	126%	17%	26%	14%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	34%	42%	26%	27%
ROE Average	26%	21%	22%	28%
ROCE Average	23%	21%	23%	33%

Titan Co Balance Sheet

#(Fig in Cr.)	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022
Shareholder's Funds	1461	1970	2523	3084	3506	4232	5090	6070	6669	7497	9303
Minority's Interest	0	0	0	0	0	26	-2	14	4	5	30
Borrowings	6	0	0	0	0	0	0	32	17	9	2
Other Non-Current Liabilities	56	57	65	71	1843	118	85	63	1073	1122	1160
Total Current Liabilities	3184	3849	3514	2694	2714	4028	4315	5462	5628	7714	10512
Total Liabilities	4706	5876	6102	5849	8063	8404	9488	11641	13391	16347	21007
Fixed Assets	384	464	614	699	761	1178	1451	1543	2609	2499	2543
Other Non-Current Assets	155	218	255	302	2177	491	436	511	661	651	1010
Total Current Assets	4167	5194	5233	4847	5125	6736	7601	9587	10121	13197	17454
Total Assets	4706	5876	6102	5849	8063	8404	9488	11641	13391	16347	21007

Titan Co Cash Flow

#(Fig in Cr.)	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022
Opening Cash & Cash Equivalents	1109	964	1121	792	171	117	678	472	430	75	181
Cash Flow from Operating Activities	159	553	-555	503	576	1712	-51	1243	-348	4139	-724
Cash Flow from Investing Activities	-70	-142	-272	-119	-159	-984	96	-798	235	-2801	1164
Cash Flow from Financing Activities	-235	-236	497	-1005	-505	-166	-252	-489	-242	-1234	-403
Net Cash Inflow / Outflow	-145	176	-329	-621	-88	562	-207	-44	-355	104	37
Closing Cash & Cash Equivalent	964	1140	792	171	84	679	472	430	75	181	219

Titan Co Ratios

#	Mar 2012	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022
Earnings Per Share (Rs)	6.77	8.17	8.28	9.19	7.6	8.01	12.73	15.82	16.87	10.93	24.42
CEPS(Rs)	7.29	8.8	9.04	10.2	8.73	9.1	13.89	17.48	20.69	15.16	29.18
DPS(Rs)	1.75	2.1	2.1	2.3	2.2	2.6	3.75	5	4	4	7.5
Book NAV/Share(Rs)	16.46	22.19	28.42	34.74	39.49	47.68	57.3	68.33	74.89	84.19	104.46
Core EBITDA Margin(%)	9.22	9.85	9.52	9.61	8.04	8.63	10.18	10.06	11.72	7.96	11.59
EBIT Margin(%)	9.84	10.35	10	9.45	8.05	7.55	9.8	10.16	10.77	7.07	10.84
Pre Tax Margin(%)	9.36	9.85	9.21	8.78	7.68	7.27	9.47	9.89	9.98	6.13	10.08
PAT Margin (%)	6.7	7.09	6.7	6.83	5.98	5.21	6.82	7.02	7.09	4.5	7.63
Cash Profit Margin (%)	7.2	7.65	7.31	7.58	6.85	6.04	7.63	7.84	8.75	6.23	9.02
ROA(%)	14.21	13.7	12.27	13.66	9.73	8.47	12.32	13.14	11.93	6.55	11.77
ROE(%)	48.19	42.26	32.71	29.12	20.53	18.02	23.65	24.9	23.45	13.76	26.18
ROCE(%)	68.65	61.32	41.35	34.69	26.77	20.77	24.55	26.36	25.99	14.66	23.04
Receivable days	5.75	5.91	5.32	5.25	6.17	5.46	5.69	6.61	6.35	5.72	5.9
Inventory Days	99.14	117.21	125.61	120.94	137.1	127.82	122.57	119.62	131.26	139.22	139.52
Payable days	95.35	97.39	67.13	58.38	80.1	46.71	26.05	22.62	18.09	15.4	17.57
PER(x)	33.75	31.39	31.7	42.64	44.59	57.56	73.94	71.92	55.35	142.45	103.87
Price/Book(x)	13.89	11.56	9.24	11.29	8.58	9.67	16.43	16.65	12.47	18.5	24.28
Dividend Yield(%)	0.77	0.82	0.8	0.59	0.65	0.56	0.4	0.44	0.43	0.26	0.3
EV/Net Sales(x)	2.19	2.14	2.12	2.91	2.67	3.17	5.25	5.17	4.04	6.58	7.99
EV/Core EBITDA(x)	20.8	19.44	19.93	28.45	29.82	34.31	48.82	47.05	32.45	74.57	64.35
Net Sales Growth(%)	35.44	14.41	7.94	9.02	-5.35	17.6	21.56	22.7	6.44	2.81	33.06
EBIT Growth(%)	38.65	19.56	3.77	2.97	-19.4	11.04	56.55	26.96	12.87	-32.54	104.05
PAT Growth(%)	38.87	20.52	1.35	11.09	-17.12	3.07	58.03	26.02	7.51	-34.76	125.67
EPS Growth(%)	38.84	20.62	1.32	11.07	-17.36	5.48	58.84	24.25	6.63	-35.18	123.33
Debt/Equity(x)	0.01	0	0.32	0.03	0.03	0.44	0.33	0.39	0.35	0.58	0.64
Current Ratio(x)	1.31	1.35	1.49	1.8	1.89	1.67	1.76	1.76	1.8	1.71	1.66
Quick Ratio(x)	0.4	0.39	0.39	0.3	0.25	0.45	0.39	0.47	0.36	0.62	0.37
Interest Cover(x)	20.22	20.87	12.59	14	21.49	26.79	29.91	38.25	13.66	7.54	14.32
Total Debt/Mcap(x)	0	0	0.03	0	0	0.05	0.02	0.02	0.03	0.03	0.03

Titan Co Shareholding Pattern

#	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023
Promoter	52.9	52.9	52.9	52.9	52.9	52.9	52.9	52.9	52.9	52.9
FII	18.59	18.1	18.41	19.06	18.55	18.4	16.77	17.04	17.53	17.51
DII	11.21	11.48	10.08	10.26	10.47	10.37	11.42	11.89	11.31	11.4
Public	17.3	17.53	18.61	17.78	18.09	18.33	18.91	18.17	18.26	18.19
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2020	Mar 2021	Jun 2021	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023
Promoter	46.96	46.96	46.96	46.96	46.96	46.96	46.96	46.96	46.96	46.96
FII	16.5	16.07	16.34	16.92	16.47	16.34	14.89	15.13	15.56	15.55
DII	9.96	10.19	8.95	9.11	9.29	9.21	10.14	10.56	10.04	10.12
Public	15.36	15.56	16.52	15.78	16.06	16.27	16.79	16.13	16.22	16.15
Others	0	0	0	0	0	0	0	0	0	0
Total	88.78	88.78	88.78	88.78	88.78	88.78	88.78	88.78	88.78	88.78

Pros

Company has delivered good profit growth of 25% CAGR over last 5 years
Company has a good return on equity (ROE) track record: 3 Years ROE 21%
Company has reduced debt.

Cons

Debtor days have increased from 15.4 to 17.57days.
Stock is trading at 21.5 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.