TITAN

Titan Company Limited

Tata Group's branded jewellery, watches and eyewear retailer

Consumer Discretionary›Consumer Durables›Consumer Durables›Gems, Jewellery And Watches

titancompany.in(opens the company website in a new tab)
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Key metrics

Price as of 2026-10-16

Stock price
₹4444.80
Market cap
3,94,329 Cr
Stock P/E
68.5
P/B
25.19
Dividend yield
0.2%
ROE (FY26)
32.3%
ROCE (FY26)
29.5%
Operating margin (FY26)
8.6%
Debt / equity (FY26)
0.72
OCF / EBITDA (FY26)
66.9%
OCF / EBITDA (3Y)
35.2%

Full years shown; sign in free for the trailing twelve months. Learn about these metrics →

Price & valuation

Share price and valuation multiples (P/E, P/B and more) over time.

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Compare with peers

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What you need to know

Titan sells branded jewellery (Tanishq, Mia, Zoya, CaratLane), watches and eyecare products to consumers, mainly in India and increasingly in the Gulf and North America.

Company snapshot

1stBy market cap

Ranked among 39 companies in Gems, Jewellery And Watches.

Segment mix

Reportable segments as of 2024-12-31 (Standalone). Revenue share = segment revenue ÷ total revenue.

Largest segment: 89.8% of revenue

SegmentRevenue shareRevenuePBTAssets
Corporate
0.6%
252 Cr6 Cr—
Eyecare
1.5%
604 Cr65 Cr—
Jewellery
89.8%
37,131 Cr3,433 Cr—
Others
0.7%
304 Cr-87 Cr—
Watches and Wearables
8.3%
3,450 Cr420 Cr—

What we see

Positives
  • ✓Return on equity of 32.3% — the company generates strong returns on shareholders' money.
Concerns
  • ✗Only 35% of operating profit came in as cash over the last three years — much of it is tied up in unpaid bills or stock.

Statement tables · Consolidated

Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.

Amounts in ₹ Cr · tap + to expand rows

Quarterly results

Quarterly · ₹ Cr · tap + rows to expand

MetricSept 2023Dec 2023Mar 2024Jun 2024Sept 2024Dec 2024Mar 2025Jun 2025Sept 2025Dec 2025Mar 2026Jun 2026
Sales12,529 Cr14,164 Cr12,494 Cr13,266 Cr14,534 Cr17,740 Cr14,916 Cr16,523 Cr18,725 Cr25,416 Cr26,920 Cr21,356 Cr
Operating expenses (approx.)11,118 Cr12,599 Cr11,303 Cr12,019 Cr13,298 Cr16,066 Cr13,379 Cr14,693 Cr16,850 Cr22,703 Cr24,983 Cr18,466 Cr
EBITDA1,411 Cr1,565 Cr1,191 Cr1,247 Cr1,236 Cr1,674 Cr1,537 Cr1,830 Cr1,875 Cr2,713 Cr1,937 Cr2,890 Cr
OPM %11.3%11.0%9.5%9.4%8.5%9.4%10.3%11.1%10.0%10.7%7.2%13.5%
Other income124 Cr136 Cr159 Cr120 Cr122 Cr128 Cr116 Cr105 Cr112 Cr151 Cr184 Cr146 Cr
Interest140 Cr169 Cr201 Cr230 Cr240 Cr231 Cr252 Cr271 Cr277 Cr282 Cr350 Cr353 Cr
Depreciation144 Cr154 Cr158 Cr164 Cr171 Cr175 Cr183 Cr184 Cr189 Cr207 Cr246 Cr256 Cr
Profit before tax1,252 Cr1,378 Cr991 Cr973 Cr948 Cr1,396 Cr1,218 Cr1,480 Cr1,522 Cr2,223 Cr1,577 Cr2,429 Cr
Tax %26.8%23.6%22.2%26.5%25.7%25.0%28.5%26.3%26.4%24.2%25.2%26.8%
Net profit916 Cr1,053 Cr771 Cr716 Cr704 Cr1,047 Cr871 Cr1,091 Cr1,120 Cr1,684 Cr1,179 Cr1,777 Cr
EPS (₹)₹10.31₹11.91₹8.68₹8.06₹7.94₹11.80₹9.82₹12.30₹12.63₹18.98₹13.00₹20.03

Profit & loss (annual)

Annual · last column is TTM · ₹ Cr · tap + to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales13,382 Cr16,156 Cr19,779 Cr21,052 Cr21,644 Cr28,799 Cr40,575 Cr51,084 Cr60,456 Cr87,584 CrSign in free for the trailing twelve months
Operating expenses (approx.)12,227 Cr14,511 Cr17,787 Cr18,585 Cr19,919 Cr25,458 Cr35,696 Cr45,792 Cr54,762 Cr79,229 CrSign in free for the trailing twelve months
EBITDA1,155 Cr1,645 Cr1,991 Cr2,467 Cr1,725 Cr3,341 Cr4,879 Cr5,292 Cr5,694 Cr8,355 CrSign in free for the trailing twelve months
OPM %8.6%10.2%10.1%11.7%8.0%11.6%12.0%10.4%9.4%9.5%Sign in free for the trailing twelve months
Other income70 Cr89 Cr183 Cr153 Cr186 Cr234 Cr308 Cr533 Cr486 Cr552 CrSign in free for the trailing twelve months
Interest38 Cr53 Cr53 Cr166 Cr203 Cr218 Cr300 Cr619 Cr953 Cr1,180 CrSign in free for the trailing twelve months
Depreciation111 Cr131 Cr163 Cr348 Cr375 Cr399 Cr441 Cr584 Cr693 Cr826 CrSign in free for the trailing twelve months
Profit before tax973 Cr1,530 Cr1,957 Cr2,102 Cr1,332 Cr2,903 Cr4,447 Cr4,623 Cr4,535 Cr6,801 CrSign in free for the trailing twelve months
Tax %28.4%28.0%29.0%29.0%26.5%24.3%26.4%24.4%26.4%25.4%Sign in free for the trailing twelve months
Net profit697 Cr1,102 Cr1,389 Cr1,493 Cr979 Cr2,197 Cr3,274 Cr3,496 Cr3,337 Cr5,073 CrSign in free for the trailing twelve months
EPS (₹)₹8.17₹12.41₹15.82₹16.91₹10.96₹24.48₹36.61₹39.38₹37.62₹57.00Sign in free for the trailing twelve months
Dividend payout %————-36.3%16.2%20.3%25.4%29.2%19.2%Sign in free for the trailing twelve months
Sign in free for the trailing twelve months

The latest four quarters added up, next to each full year

Balance sheet

Annual · ₹ Cr · tap + rows to expand

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity capital89 Cr89 Cr89 Cr89 Cr89 Cr89 Cr89 Cr89 Cr89 Cr89 Cr
Reserves4,144 Cr5,001 Cr5,981 Cr6,580 Cr7,408 Cr9,214 Cr11,762 Cr9,304 Cr11,535 Cr15,614 Cr
Borrowings—79 Cr2,385 Cr723 Cr164 Cr518 Cr2,195 Cr7,838 Cr10,286 Cr11,378 Cr
Other liabilities4,149 Cr4,357 Cr3,246 Cr6,154 Cr8,786 Cr11,342 Cr12,924 Cr14,319 Cr18,737 Cr33,480 Cr
Total liabilities8,408 Cr9,524 Cr11,715 Cr13,550 Cr16,452 Cr21,194 Cr27,023 Cr31,550 Cr40,647 Cr60,561 Cr
Fixed assets (net)853 Cr1,102 Cr1,182 Cr1,285 Cr1,216 Cr1,218 Cr1,343 Cr1,737 Cr1,854 Cr2,684 Cr
CWIP143 Cr43 Cr29 Cr12 Cr19 Cr69 Cr133 Cr88 Cr93 Cr135 Cr
Investments431 Cr36 Cr132 Cr182 Cr2,848 Cr295 Cr2,516 Cr2,346 Cr1,989 Cr3,642 Cr
Loans & advances——247 Cr56 Cr109 Cr423 Cr135 Cr281 Cr44 Cr51 Cr
Inventories4,926 Cr5,925 Cr7,039 Cr8,103 Cr8,408 Cr13,609 Cr16,584 Cr19,051 Cr28,184 Cr42,743 Cr
Trade receivables208 Cr296 Cr420 Cr312 Cr366 Cr565 Cr674 Cr1,018 Cr1,068 Cr916 Cr
Cash & bank678 Cr472 Cr430 Cr75 Cr181 Cr219 Cr232 Cr409 Cr407 Cr873 Cr
Other assets1,169 Cr1,651 Cr2,236 Cr3,525 Cr3,306 Cr4,795 Cr5,406 Cr6,620 Cr7,008 Cr9,517 Cr
Total assets8,408 Cr9,524 Cr11,715 Cr13,550 Cr16,452 Cr21,194 Cr27,023 Cr31,550 Cr40,647 Cr60,561 Cr

Cash flows

Annual · ₹ Cr · tap + rows to expand · last column includes FCF

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from operating activity1,712 Cr-51 Cr1,243 Cr-347 Cr4,808 Cr-724 Cr1,370 Cr1,759 Cr-548 Cr5,590 Cr
Cash from investing-984 Cr96 Cr-798 Cr235 Cr-2,204 Cr1,164 Cr-1,811 Cr-253 Cr551 Cr-2,934 Cr
Cash from financing-166 Cr-252 Cr-489 Cr-242 Cr134 Cr-403 Cr457 Cr-1,329 Cr7 Cr-2,159 Cr
Net cash flow562 Cr-207 Cr-44 Cr-354 Cr2,740 Cr38 Cr13 Cr177 Cr10 Cr466 Cr
Free cash flow (OCF − Capex)1,456 Cr-356 Cr978 Cr-702 Cr4,808 Cr-948 Cr938 Cr1,068 Cr-1,042 Cr4,688 Cr

Ratios

MetricMar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %23.7%30.6%23.7%30.7%20.0%31.7%33.7%30.4%25.0%29.5%
ROE %16.7%21.7%23.1%22.5%13.0%23.3%27.3%37.2%28.7%32.3%
Debtor days6785676764
Inventory days207206209227223224224193215225
Days payable3331274413889886815100
Cash conversion cycle18018219018891142142132206129
OCF / EBITDA %148.2%-3.1%62.4%-14.1%278.8%-21.7%28.1%33.2%-9.6%66.9%
OCF / EBITDA % (3 years)——60.6%13.8%92.3%49.6%54.8%17.8%16.3%35.2%
Debt / equity—0.020.390.110.020.060.190.830.880.72
Current ratio1.671.761.761.801.711.661.691.551.341.28
Net debt / EBITDA-0.59—0.980.26-0.00950.090.401.401.731.26