Whalesbook
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]
Revenue Mix (FY25)1) Jewellery (85%)-It is India’s leading Organised Jewellery Retailer with presence at1091Exclusive Brand Outlets across its brandsTanishq, Mia, Zoya, and Caratlane. The company has an8% market sharein the Jewellery market. In Q4 FY25, the company added 7 stores of Tanishq, 12 stores of Mia, and 17 stores of Caratlane. In FY25, the company generated 25% digitally influenced sales.[1]{https://www.bseindia.com/xml-data/corpfiling/AttachHis/c30ed25f-9212-411d-bce8-0ba98361a738.pdf#page=9 #}[2]
| S.No. | Name | Current Price (Rs.) | Price to Earning | Market Capitalization (Rs.Cr.) | Dividend yield (%) | Net Profit latest quarter (Rs.Cr.) | YOY Quarterly profit growth (%) | Sales latest quarter (Rs.Cr.) | YOY Quarterly sales growth (%) | Return on capital employed (%) | Sales (Rs.Cr.) | OPM (%) | Profit after tax (Rs.Cr.) | Profit after tax latest quarter (Rs.Cr.) | Price to book value | Return on assets (%) | Debt to equity |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | Titan Company | 3800.40 | 86.60 | 337394.25 | 0.29 | 1006.00 | 42.70 | 16534.00 | 25.12 | 17.18 | 60672.00 | 10.22 | 3896.00 | 1006.00 | 18.92 | 9.02 | 1.39 |
| 2. | Kalyan Jewellers | 490.10 | 54.36 | 50610.80 | 0.31 | 260.51 | 99.46 | 7856.03 | 29.52 | 15.03 | 28584.13 | 6.42 | 931.02 | 260.51 | 9.47 | 5.13 | 1.00 |
| 3. | Thangamayil Jew. | 3241.20 | 54.81 | 10074.30 | 0.39 | 58.51 | 435.30 | 1710.90 | 44.86 | 13.74 | 5781.95 | 5.76 | 183.81 | 58.51 | 8.63 | 5.88 | 0.96 |
| 4. | P N Gadgil Jewe. | 620.75 | 28.39 | 8424.09 | 0.00 | 79.31 | 127.12 | 2177.62 | 8.81 | 19.41 | 7916.15 | 5.48 | 296.68 | 79.31 | 4.95 | 9.50 | 0.76 |
| 5. | Ethos Ltd | 3114.40 | 87.67 | 8333.42 | 0.00 | 23.79 | 11.95 | 383.39 | 29.03 | 13.75 | 1410.96 | 13.87 | 95.05 | 23.79 | 5.81 | 7.49 | 0.22 |
| 6. | Bluestone Jewel | 547.55 | – | 8285.55 | 0.00 | -49.11 | 41.86 | 513.09 | 37.43 | -0.57 | 1770.00 | 4.43 | -221.19 | -49.11 | 4.93 | -7.39 | 1.12 |
| 7. | PC Jeweller | 11.07 | 13.21 | 8112.64 | 0.00 | 209.54 | 17.14 | 825.25 | 63.43 | 6.55 | 2888.63 | 19.47 | 614.21 | 209.54 | 1.11 | 7.38 | 0.22 |
| – | Median: 44 Co. | 227.02 | 28.58 | 1139.89 | 0.0 | 20.83 | 74.01 | 406.74 | 36.05 | 15.03 | 1003.58 | 7.66 | 53.21 | 19.33 | 3.39 | 7.79 | 0.32 |
Standalone figures in ₹ crores
| Sep 2022 | Dec 2022 | Mar 2023 | Jun 2023 | Sep 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | 8,730 | 10,875 | 9,704 | 11,145 | 11,660 | 13,052 | 11,257 | 12,053 | 13,215 | 16,097 | 13,477 | 14,564 | 16,534 |
Expenses | 7,496 | 9,545 | 8,660 | 10,042 | 10,305 | 11,595 | 10,148 | 10,842 | 12,082 | 14,587 | 12,039 | 12,932 | 14,914 |
Operating Profit | 1,234 | 1,330 | 1,044 | 1,103 | 1,355 | 1,457 | 1,109 | 1,211 | 1,133 | 1,510 | 1,438 | 1,632 | 1,620 |
Other Income | 60 | 91 | 104 | 99 | 122 | 139 | 150 | 118 | 127 | 131 | 117 | 107 | 109 |
Profit before tax | 1,155 | 1,267 | 979 | 1,024 | 1,261 | 1,345 | 977 | 1,021 | 933 | 1,320 | 1,207 | 1,380 | 1,361 |
Tax % | 26% | 25% | 25% | 24% | 25% | 23% | 20% | 25% | 24% | 25% | 28% | 25% | 26% |
Net Profit | 857 | 951 | 734 | 777 | 940 | 1,040 | 786 | 770 | 705 | 990 | 870 | 1,030 | 1,006 |
EPS in Rs | 9.65 | 10.71 | 8.27 | 8.75 | 10.59 | 11.71 | 8.85 | 8.67 | 7.94 | 11.15 | 9.80 | 11.60 | 11.33 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Sales | 10,916 | 11,903 | 11,084 | 12,897 | 15,621 | 19,070 | 20,010 | 20,602 | 27,210 | 38,270 | 47,114 | 54,842 | 60,672 |
Expenses | 9,864 | 10,746 | 10,135 | 11,693 | 13,886 | 17,064 | 17,592 | 18,896 | 23,928 | 33,497 | 42,090 | 49,550 | 54,472 |
Operating Profit | 1,051 | 1,158 | 949 | 1,204 | 1,736 | 2,006 | 2,418 | 1,706 | 3,282 | 4,773 | 5,024 | 5,292 | 6,200 |
Other Income | 117 | 66 | 69 | -40 | -7 | 104 | 146 | 39 | 192 | 296 | 510 | 493 | 464 |
Interest | 87 | 81 | 42 | 37 | 48 | 44 | 149 | 181 | 195 | 240 | 480 | 767 | 828 |
Depreciation | 66 | 87 | 87 | 93 | 110 | 139 | 310 | 331 | 347 | 364 | 447 | 537 | 568 |
Profit before tax | 1,016 | 1,056 | 888 | 1,033 | 1,571 | 1,927 | 2,105 | 1,233 | 2,932 | 4,465 | 4,607 | 4,481 | 5,268 |
Net Profit | 741 | 823 | 698 | 762 | 1,163 | 1,374 | 1,517 | 877 | 2,180 | 3,333 | 3,544 | 3,335 | 3,896 |
EPS in Rs | 8.35 | 9.27 | 7.86 | 8.58 | 13.10 | 15.48 | 17.09 | 9.88 | 24.56 | 37.54 | 39.92 | 37.57 | 43.88 |
Dividend Payout % | 25% | 25% | 28% | 30% | 29% | 32% | 23% | 41% | 31% | 27% | 28% | 29% | – |
Standalone figures in ₹ crores
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 89 | 89 | 89 | 89 | 89 | 89 | 89 | 89 | 89 | 89 | 89 | 89 | 89 |
Reserves | 2,435 | 3,003 | 3,446 | 4,223 | 5,105 | 6,093 | 6,736 | 7,464 | 9,284 | 11,905 | 14,368 | 16,722 | 17,743 |
Borrowings | 806 | 100 | 113 | 1,867 | 1,604 | 2,288 | 3,269 | 5,243 | 6,605 | 7,862 | 12,661 | 17,171 | 24,768 |
Other Liabilities | 2,777 | 2,680 | 2,661 | 2,138 | 2,599 | 3,000 | 3,094 | 3,064 | 4,159 | 5,232 | 5,744 | 7,093 | 9,101 |
Total Liabilities | 6,107 | 5,872 | 6,308 | 8,318 | 9,396 | 11,470 | 13,188 | 15,860 | 20,137 | 25,088 | 32,862 | 41,075 | 51,701 |
Fixed Assets | 596 | 683 | 654 | 707 | 974 | 1,069 | 2,053 | 1,959 | 1,925 | 2,161 | 2,691 | 3,019 | 3,171 |
Gross Block | 1,103 | 1,253 | 715 | 817 | 1,164 | 1,376 | 2,634 | 2,813 | 3,063 | 3,587 | 4,409 | 5,138 | – |
Accumulated Depreciation | 507 | 570 | 60 | 110 | 191 | 307 | 581 | 854 | 1,138 | 1,426 | 1,718 | 2,119 | – |
CWIP | 33 | 55 | 77 | 148 | 41 | 26 | 14 | 25 | 71 | 127 | 87 | 94 | 101 |
Investments | 27 | 33 | 90 | 886 | 734 | 876 | 983 | 3,512 | 884 | 3,259 | 7,813 | 7,723 | 9,406 |
Other Assets | 5,451 | 5,101 | 5,487 | 6,576 | 7,648 | 9,499 | 10,138 | 10,364 | 17,257 | 19,541 | 22,271 | 30,239 | 39,023 |
Total Assets | 6,107 | 5,872 | 6,308 | 8,318 | 9,396 | 11,470 | 13,188 | 15,860 | 20,137 | 25,088 | 32,862 | 41,075 | 51,701 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Cash from Operating Activity | -551 | 508 | 567 | 1,768 | 299 | 1,249 | -289 | 4,101 | -1,126 | 1,810 | 2,030 | -170 |
Cash from Investing Activity | -275 | -124 | -151 | -1,022 | -179 | -910 | 243 | -2,744 | 1,564 | -1,653 | -4,634 | 140 |
Cash from Financing Activity | 497 | -1,004 | -505 | -154 | -325 | -442 | -268 | -1,260 | -468 | -155 | 2,757 | 1 |
Net Cash Flow | -330 | -620 | -89 | 592 | -205 | -102 | -314 | 97 | -30 | 2 | 153 | -29 |
Standalone Figures in ₹ Crores / Yearly
| Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 5 | 6 | 4 | 3 | 5 | 7 | 4 | 5 | 7 | 9 | 7 | 7 |
Inventory Days | 175 | 169 | 196 | 189 | 184 | 175 | 195 | 185 | 226 | 188 | 167 | 205 |
Days Payable | 39 | 81 | 73 | 28 | 25 | 20 | 13 | 16 | 19 | 12 | 9 | 12 |
Cash Conversion Cycle | 142 | 94 | 128 | 164 | 164 | 162 | 186 | 174 | 214 | 184 | 165 | 199 |
Working Capital Days | 28 | 59 | 79 | 47 | 60 | 54 | 70 | 36 | 77 | 59 | 53 | 42 |
ROCE % | 42% | 35% | 27% | 24% | 26% | 27% | 24% | 14% | 22% | 26% | 22% | 17% |
Direct from BSE filings, auto-summarised
External media mentions & references
Editorial & research coverage
Nov 2025
Aug 2025
May 2025
Feb 2025
Nov 2024
Aug 2024
Jun 2024
May 2024
Feb 2024
Nov 2023
Aug 2023
Aug 2023
May 2023
Feb 2023
Nov 2022
Aug 2022
May 2022
May 2022
May 2022
Feb 2022
Nov 2021
Aug 2021
Aug 2021
Apr 2021
Mar 2021
Feb 2021
Oct 2020
Aug 2020
Aug 2020
Jun 2020
Jun 2020
Jun 2020
Jun 2020
Feb 2020
Feb 2020
Nov 2019
Nov 2019
Nov 2019
Aug 2019
May 2019
May 2019
Feb 2019
Nov 2018
Aug 2018
May 2018
Nov 2016
