Titan Company Ltd.

•

titancompany.inBSE: 500114NSE: TITAN

Market Cap₹ 4,44,337 Cr.

Current Price

High / Low₹ 5,187 / 3,303

Stock P/E77.1

Book Value₹ 195

Price to Book22.60

Dividend Yield0.30 %

ROCE21.9 %

ROE37.4 %

Face Value₹ 1

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Jewellery: 90.4% • Watches: 6.0% • Others: 2.3%

AI Sector View

AI GENERATED

Consumer Durables

Buy

Urban discretionary demand is mixed but investable. Credit card transactions rose 27.0% YoY (2026-06), urban CMIE sentiment was 109.5 (2026-07), and consumer spending remained large at INR 44743 billion (Jun/26), even though formal consumer confidence fell to 88.3 points (Jul/26) and debit card transactions were -9.0% YoY (2026-06). Heavy sector inflows of INR 13175 crore over 3 months to 2026-08-31 indicate strong investor positioning behind the theme.

Confidence

76%

View full sector analysis →

PROS

Company has delivered good profit growth of 39.1% CAGR over last 5 years
Company has a good return on equity (ROE) track record: 3 Years ROE 34.1%
Company has a healthy return on capital (ROCE) of 22.6%
Company has consistently been profitable over the last 5 years
Latest quarter profit grew 62.9% YoY, showing strong momentum
Company has delivered good sales growth of 32.3% CAGR over last 5 years

CONS

Company has a high debt-to-equity of 1.76x
Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT 0.57x)
Total debt has risen sharply - up 51.7% year on year
Stock is trading at 22.6x its book value
Growth is decelerating - 3Y profit CAGR (15.7%) trails the 5Y trend (39.1%)
Expensive relative to growth - PEG of 4.9

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

Consumer DurablesDiamond & JewelleryDiamond & Jewellery

Part ofNIFTY 50 NIFTYLARGEMIDCAP250 NIFTY100 LOWVOL30 NIFTY CONSUMPTION NIFTY100 EQL WGT

S.No.	Name
1.	TITAN	5005.00	77.14	444336.97	0.30	1777.00	62.88	21356.00	44.16	21.90	13.54
2.	KALYANKJIL	600.65	43.23	62032.19	0.42	348.67	32.03	10588.93	45.68	24.86	5.97
3.	LALITHAA	338.50	18.76	18946.18	0.00	2082.17	—	60312.32	—	43.11	6.18
4.	THANGAMAYL	5135.45	40.82	15962.02	0.35	85.09	86.15	2666.38	71.44	26.62	5.43
5.	BLUESTONE	890.30	241.52	13601.89	0.00	59.61	271.56	7368.46	1395.59	9.24	14.50
6.	PCJEWELLER	13.70	17.25	13360.42	0.00	221.88	37.02	877.04	20.99	9.68	27.54
7.	SKYGOLD	827.45	38.25	12815.04	0.00	104.90	140.67	2012.79	77.93	27.61	7.79
8.	AUGMONT	886.85	24.27	8103.46	0.00	—	—	—	—	70.86	—
9.	SENCO	346.45	9.95	5678.35	0.51	101.14	-3.35	3056.03	67.34	22.86	6.97
10.	GOLDIAM	324.65	23.18	4887.84	0.64	73.97	120.06	326.03	41.92	24.85	20.33
11.	VAIBHAVGBL	212.80	12.53	3570.14	2.82	563.83	1398.27	9170.73	1026.99	18.41	10.55
12.	TBZ	522.35	16.31	3485.67	0.48	33.92	50.76	840.97	34.78	23.29	8.60

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	10,851	10,708	13,963	11,229	12,223	13,473	17,550	13,897	14,814	16,461	24,915	20,607	21,356
	10,772	11,118	12,599	11,303	12,019	13,298	16,066	13,379	14,693	16,850	22,703	24,983	19,075
Operating Profit	79	-410	1,364	-74	204	175	1,484	518	121	-389	2,212	-4,376	2,281
OPM %	0.73%	-3.83%	9.77%	-0.66%	1.67%	1.30%	8.46%	3.73%	0.82%	-2.36%	8.88%	-21.24%	10.68%
	114	124	136	159	120	122	128	116	105	112	-1	236	146
Interest	109	140	169	201	230	240	231	252	271	277	282	350	353
Depreciation	128	144	154	158	164	171	175	183	184	189	207	246	256
Profit before Tax	1,002	1,251	1,378	991	973	947	1,396	1,218	1,480	1,521	2,223	1,577	2,429
Tax %	24.55%	26.86%	23.58%	22.20%	26.52%	25.77%	25.00%	28.49%	26.28%	26.43%	24.25%	25.24%	26.84%
Net Profit	0	0	0	0	715	704	1,047	871	1,091	1,120	1,684	1,179	1,777
	8.48	10.31	11.91	8.70	8.06	7.94	11.80	9.82	12.30	12.63	18.98	13.28	20.03

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	13,261	16,120	19,779	21,052	21,644	28,799	40,575	51,084	60,456	87,584	83,339
	12,107	14,475	17,789	18,585	19,921	25,462	35,731	45,792	54,762	79,229	83,611
Operating Profit	1,154	1,645	1,989	2,467	1,723	3,337	4,844	5,292	5,694	8,355	-272
OPM %	8.70%	10.20%	10.06%	11.72%	7.96%	11.59%	11.94%	10.36%	9.42%	9.54%	-0.33%
	-31	72	185	153	187	184	343	533	486	451	493
Interest	38	53	53	166	203	218	300	619	953	1,180	1,262
Depreciation	111	131	163	348	375	399	441	584	693	826	898
Profit before Tax	973	1,530	1,957	2,102	1,327	2,904	4,447	4,623	4,535	6,801	7,750
Tax %	28.36%	27.97%	29.04%	28.97%	26.60%	24.31%	26.38%	24.38%	26.42%	25.41%	25.69%
Net Profit	697	1,102	1,389	1,493	974	2,198	3,274	3,496	3,337	5,073	5,759
EPS	8.17	12.73	15.82	16.91	10.96	24.48	36.61	39.28	37.49	57.00	—
Dividend Payout %	32.44%	29.46%	31.61%	23.72%	36.59%	30.72%	27.38%	28.00%	29.34%	26.32%	—

COMPOUNDED SALES GROWTH

10 Years:: 23%
5 Years:: 32%
3 Years:: 29%

COMPOUNDED PROFIT GROWTH

10 Years:: 22%
5 Years:: 39%
3 Years:: 16%

STOCK PRICE CAGR

10 Years:: 28%
5 Years:: 20%
3 Years:: 16%
1 Year:: 40%

RETURN ON EQUITY

10 Years:: 26%
5 Years:: 32%
3 Years:: 34%
Last Year:: 37%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	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
Minority Interest	26	-2	14	4	5	30	53	0	0	0
	4,144	4,998	5,978	6,576	7,404	9,208	11,755	9,256	11,474	15,475
	1,882	1,692	2,386	3,368	5,438	7,052	9,104	15,053	20,240	31,552
Trade Payables	783	878	906	596	789	1,294	1,214	1,410	1,963	2,864
	1,480	1,833	2,269	2,758	2,622	3,334	4,650	5,555	6,711	10,408
Total Liabilities	8,404	9,488	11,641	13,391	16,347	21,007	26,865	31,363	40,477	60,388
	1,178	1,451	1,543	2,609	2,499	2,543	2,997	3,708	4,061	6,742
Capital Work in Progress	143	43	29	11	19	69	133	88	93	135
	431	36	108	158	2,824	294	2,515	2,345	1,988	3,506
	4,926	5,925	7,039	8,103	8,408	13,609	16,584	19,051	28,184	42,743
	0	0	0	0	0	0	0	1,018	1,068	916
Cash & Bank	779	618	1,066	381	560	1,573	1,343	1,526	1,584	1,917
	948	1,415	1,856	2,129	2,037	2,919	3,293	3,627	3,499	4,429
Total Assets	8,404	9,488	11,641	13,391	16,347	21,007	26,865	31,363	40,477	60,388

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	1,989	405	1,879	209	4,410	78	2,524	1,695	-541	5,590
Cash from Investing	-984	96	-798	235	-2,801	1,164	-1,811	-189	546	-2,934
Cash from Financing	-166	-252	-489	-242	-1,234	-403	457	-1,329	-7	-2,159
	562	-207	-44	-355	104	37	16	177	-2	497

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	52.90	52.90	52.90	52.90	52.90	52.90	52.90	52.90	52.90
	18.20	18.22	18.10	17.81	17.53	16.10	15.54	15.65	15.39
	10.68	11.28	11.36	12.00	12.58	13.98	14.82	14.83	15.14
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	18.03	17.42	17.45	17.11	16.78	16.84	16.56	16.42	16.39

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-11

Credit Rating

2026-09-11 - Titan Company Limited has informed the Exchange about Credit Rating

2026-09-10

General Updates

2026-09-10 - Titan Company Limited has informed the Exchange about Redemption of Commercial Paper

2026-09-07

Copy of Newspaper Publication

2026-09-07 - Titan Company Limited has informed the Exchange about Copy of Newspaper Publication for Special Window for transfer and dematerialisation (demat) of physical shares.

2026-09-07

Copy of Newspaper Publication

2026-09-07 - Titan Company Limited has informed the Exchange about Copy of Newspaper Publication

2026-09-07

Press Release

2026-09-07 - Titan Company Limited has informed the Exchange regarding a press release dated 0 ,

2026-09-04

Analysts/Institutional Investor Meet/Con. Call Updates

2026-09-04 - Titan Company Limited has informed the Exchange about Schedule of Analysts / Institutional Investors Meeting

2026-09-04

General Updates

2026-09-04 - Titan Company Limited has informed the Exchange about Redemption of Commercial Paper

2026-09-03

Analysts/Institutional Investor Meet/Con. Call Updates

2026-09-03 - Titan Company Limited has informed the Exchange about Schedule of Analysts / Institutional Investors Meeting

2026-08-18

Copy of Newspaper Publication

2026-08-18 - Titan Company Limited has informed the Exchange about Copy of Newspaper Publication

News

Recent coverage and analyst commentary for TITAN

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