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Titan Company Ltd is among IndiaтАЩs 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 IndiaтАЩs 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 | 3904.20 | 88.99 | 346716.09 | 0.28 | 1006.00 | 42.70 | 16534.00 | 25.12 | 17.18 | 60672.00 | 10.22 | 3896.00 | 1006.00 | 19.44 | 9.02 | 1.39 |
| 2. | Kalyan Jewellers | 496.45 | 55.06 | 51266.16 | 0.30 | 260.51 | 99.46 | 7856.03 | 29.52 | 15.03 | 28584.13 | 6.42 | 931.02 | 260.51 | 9.60 | 5.13 | 1.00 |
| 3. | Thangamayil Jew. | 3025.40 | 51.19 | 9409.51 | 0.41 | 58.51 | 435.30 | 1710.90 | 44.86 | 13.74 | 5781.95 | 5.76 | 183.81 | 58.51 | 8.06 | 5.88 | 0.96 |
| 4. | Bluestone Jewel | 570.95 | тАУ | 8601.88 | 0.00 | -49.11 | 41.86 | 513.09 | 37.43 | -0.57 | 1770.00 | 4.43 | -221.19 | -49.11 | 5.14 | -7.39 | 1.12 |
| 5. | P N Gadgil Jewe. | 631.45 | 28.89 | 8571.98 | 0.00 | 79.31 | 127.12 | 2177.62 | 8.81 | 19.41 | 7916.15 | 5.48 | 296.68 | 79.31 | 5.04 | 9.50 | 0.76 |
| 6. | Ethos Ltd | 2901.70 | 81.75 | 7770.14 | 0.00 | 23.79 | 11.95 | 383.39 | 29.03 | 13.75 | 1410.96 | 13.87 | 95.05 | 23.79 | 5.41 | 7.49 | 0.22 |
| 7. | PC Jeweller | 10.60 | 12.64 | 7761.06 | 0.00 | 209.54 | 17.14 | 825.25 | 63.43 | 6.55 | 2888.63 | 19.47 | 614.21 | 209.54 | 1.06 | 7.38 | 0.22 |
| тАУ | Median: 44 Co. | 232.56 | 29.14 | 1169.38 | 0.0 | 20.83 | 74.01 | 406.74 | 36.05 | 15.03 | 1003.58 | 7.66 | 53.21 | 19.33 | 3.52 | 7.79 | 0.32 |
Standalone figures in тВ╣ 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 тВ╣ 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% | тАУ |
Standalone figures in тВ╣ 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 | тАУ |
Accumulated Depreciation | 507 | 570 | 60 | 110 | 191 | 307 | 581 | 854 | 1,138 | 1,426 | 1,718 | 2,119 | тАУ |
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 тВ╣ 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 тВ╣ 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% |
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