Performance

Agreements with Media Companies and/or their associates:
There are no agreements entered into with the Media Companies and/or their associates as stipulated in Clause 54 of the Listing Agreement.

CIN No. L74999TZ1984PLC001456

The first quarter of FY 2017-18 was an extremely good quarter for Titan Company Limited. The Company registered a growth of 42% in revenue and a 110% growth in PBT. The sales income grew from Rs.2769.55 crores last year to Rs.3944.49 crores in Q1. The profit before tax for the same period grew from Rs.176.13 crores to Rs.370.70 crores driven largely by a healthy growth in the Jewellery business.

The Jewellery division recorded an income growth of 54% in the first quarter. The income from this division in Q1 was Rs.3307.71 crores as against Rs.2150.59 crores. The Watches business grew from Rs.499.73 crores in Q1 last year to Rs.509.92 crores this year, recording a growth of 2%. The Company’s Eyewear business was flat at Rs.110.67 crores for Q1. The Company’s other businesses comprising accessories, fragrances and sarees grew by 46%, to Rs.19.90 crores this year.

Retail expansion continued with a net addition of 31 stores across all its businesses in the first quarter, ending the period with a retail area of over 1.83 mn sq.ft nationally. The Company’s retail chain is 1397 stores strong, as on 30th June 2017 and is expanding with growth plans in place for all its retail businesses – watches, jewellery and eyewear.

The Company has put together plans to stimulate demand for all its product categories through innovative advertising campaigns and new product launches in the coming quarters.

Mr. Bhaskar Bhat, Managing Director of the Company stated that “Our Jewellery business has delivered a stellar performance in the first quarter due to a combination of one of the best Akshaya Tritiya sales, a very successful gold exchange programme as well as an element of advancement of sales in June 2017 in anticipation of higher GST rates. All retail formats of our Watches business recorded growth but the topline growth was subdued due to postponement of Titan and Fastrack brand activations. The performance of our eyewear business has been adversely impacted due to a slowdown of the sunglass category. Driven by the jewellery business, our profits saw an outstanding growth this quarter.

S. Ravi Kant
Executive Vice President
(Corporate Communications)

Quarter 1 Consoliated Result
Quarter 1 Standalone Result 3 August 2017

CIN No. L74999TZ1984PLC001456

The fourth quarter, Jan - March 2017 was an extremely good quarter for Titan Company Limited, with an income growth of 44.3%. The financial year 2016-17 recorded a growth of 14.5%. Titan Company Ltd reported an income of Rs. 12,717 crores for the year ended March 2017. This performance came in the backdrop of a changing environment and regulator/ moves like demonetisation. Income for Q4 stood at Rs.3,460 crores against Rs.2,398 crores last year.

Profit before tax for the year 2016-17 grew by 16.3% to Rs.1,033 crores after an exceptional item of Rs.96 crores, incurred towards a Voluntary Retirement Scheme offered to employees. The PBT, before this exceptional item is Rs.1,130 crores, a healthy growth of 27%. The net profit for the year is Rs.762 crores, a growth of 9.2%. These figures are stand-alone numbers for the Company and do not include subsidiaries.

The jewellery business of the Company crossed the Rs. 10,000 crores mark. The income from Jewellery segment saw a growth of 17.4% to Rs. 10,237 crores. The year witnessed launch of many successful collections in jewellery as well as an effective wedding campaign. The Watches business of the Company recorded an income of Rs.2,028 crores, a growth of 2.7%. The key highlight of the year was Titan's entr/ into the world of smart watches through launch of Titan 'Juxt Pro', 'Sonata Act' - the safety watch for women and Fastrack 'Reflex' the fitness band. The income from Eyewear business was Rs.406 crores, recording a growth of 8.4% on the back of an aggressive network expansion strategy. Other businesses of the company comprising accessories, fragrances and sarees recorded a sale of Rs.65 crores, a growth of 18.4%. The fourth business of the company. Precision Engineering, was subsidiorised and stands as an independent Company 'Titan Engineering and Automation Ltd (TEAL). The consolidated income for the Company from 'other segments' including accessories and subsidiaries like TEAL was Rs.334 crores.

The year witnessed aggressive expansion of its retail network with a net addition of 84 stores by Watches, Jewellery and Eyewear businesses. As on 31^' March 2017, the Company had 1366 stores, with over 1.8 million sq.ft of retail space delivering a retail turnover in excess of Rs. 13,325 crores.

Mr. Bhaskar Bhat, Managing Director of the Company stated that "The year 2016-17 was an extremely satisfying year, in terms of Company performance, given the market conditions. The strength of Company's brands, the reach of its retail and distribution network and the effectiveness of new product introductions and marketing campaigns was tested in a difficult environment. The various businesses of the Company retained their focus on the Company and took bold steps, wherever needed, to drive growth and enhance profitability. We believe we are well prepared and are taking steps to set up a good foundation for the years ahead."

Considering the performance of the Company, a dividend of Rs. 2.60 per share (260%) was announced after the Board Meeting held on 12th May 2017."

S. Ravi Kant
Executive Vice President
(Corporate Communications)

Quarter 4 Result 12 May 2017

CIN No. L74999TZ1984PLC001456

Titan Company reported a growth of 14.7% in income in Q3 over same period last year despite some headwinds on account of demonetization. A good festival and wedding season contributed to growth in retail sales. Income for the nine-month period ending December 2016 grew by 7%. The overall income from operations in the third quarter, October to December 2016, was Rs.3905.22 crores, as compared to last year’s income of Rs.3404.52 crores during the same period. The income for April to December 2016, the nine-month period, stands at Rs.9371.36 crores.

The profit before tax for Q3, October to December 2016, was Rs.350.34 crores, registering a handsome growth of 21.3%. The net profit for the same period was Rs.255.75 crores and Rs.563.20 crores for the nine-months ended December 2016. The profit before tax for the nine-month period ending December 2016 grew by 14%, to Rs.771.51 crores.

The income from watches was Rs.508.26 crores in Q3, a growth of 5.1% over last year. On the other hand, jewellery business recorded a growth of 15.4% in Q3 over last year. The jewellery business had an income of Rs.3255 crores this year in Q3 as compared to Rs.2820.27 crores last year. For the nine-month ended December 2016, the jewellery business recorded a growth of 7.5%. The eyewear business reported a growth of 12.4% in income, in Q3, at Rs.90.65 crores. Other businesses of the company, comprising a B2B business, Precision Engineering and the accessories business registered a growth of 44.5% in Q3, at Rs.75.97 crores. The nine-month income for these businesses grew by 33.2% to Rs.215.71 crores.

The Titan Company (TCL) retail chain is 1333 stores strong, as on 31st December 2016 with the retail area crossing 1.75 million sq.ft. nationally for all its brands. A total of 118 stores were added by TCL brands in the nine month period till December 2016.

Mr. Bhaskar Bhat, Managing Director of the company stated that “The third quarter was an extremely encouraging quarter for the Company. Despite initial headwinds on account of demonetization, the Company clocked a growth of over 14% and a PBT growth of 21%. The festival season was very good for both our jewellery and Watches business. Our effort continues therefore to be one of generating demand, through new product introductions and network expansion while retaining our focus on cost control.”

S. Ravi Kant
Executive Vice President
(Corporate Communications)

Quarter 2 Result 7 February 2017

CIN No. L74999TZ1984PLC001456

Titan Company Ltd announced an exceptional growth in profits while reporting a marginal decline of 0.1% in net income in the second quarter. The income from operations in the second quarter, July to September 2016, was Rs.2659.83 crores, against last year’s income of Rs.2662.52 crores during the same period. The income for April to September 2016, the first half of this financial year, stands at Rs.5466.14 crores, registering a growth of 2.1% over last year.

The net profit for Q2 is Rs.180.76 crores, against Rs.146.35 crores last year, recording a growth of 23.5%. The net profit for the six months ended September 2016 is Rs. 307.45 crores after the exceptional item of Rs 99.86 crores.. The profit before tax and exceptional item is Rs.250.39 crores for Q2, a growth of 36.9% and Rs.521.03 crores for the first half, a growth of 34.5%. This was possible due to decent improvement in gross margin and the benefits of the cost control programme undertaken by the company.

The jewellery business had an extremely successful activation in the second quarter and recorded an income of Rs.1987.51 crores as compared to Rs.1982.72 crores last year. Performance of the diamond studded jewellery segment was much better than plain gold segment. The Watches division continues to exhibit a decent performance in the domestic market but the overall business declined due to lack of growth in some of its International markets as well as its service business which went through re-structuring. The income for the quarter was Rs.523.69 crores against Rs.552.45 crores in the previous year, a decline of 5.2%. The Eyewear business grew by 6.6% in the quarter, recording an income of Rs.95.19 crores as against Rs.89.33 crores last year. Other businesses of the Company comprising Precision Engineering, a B2B business and accessories grew by 20% in Q2. The performance of this segment was driven by an extremely encouraging growth of 23% in the PED business which has also built up a healthy order book. The combined income of these businesses was Rs.72.91 crores in Q2. Their last year income for Q2 was Rs.60.77 crores.

The Titan Company retail chain stands at 1316 stores, as on 30th September 2016 with a retail area crossing 1.75 million sq.ft. nationally for all its brands

Mr. Bhaskar Bhat, Managing Director of the Company stated that “This was an extremely good quarter for the Company with respect to profits. All businesses of the company recorded profits in the quarter. The Jewellery business had an extremely good studded jewellery activation and the Watches business launched its second smart watch, Juxt Pro. All our retail channels grew. The festive season has commenced very well. For the Dussehra to Diwali festive period, Tanishq registered a growth of 39% over last year. In watches, for the same period, our World of Titan stores grew by 14% and Helios stores by 11% in retail sales.”

S. Ravi Kant
Executive Vice President
(Corporate Communications)

Quarter 2 Result 4 November 2016

CIN No. L74999TZ1984PLC001456

Sales income for Titan Company in Q1 grew by 3.6%. Retail sales in the first quarter were adversely impacted by fewer wedding dates and a significant impact on revenues in the jewellery industry due to high gold prices. The sales income grew from Rs.2686.76 crores last year to Rs.2782.50 crores in Q1. The profit after tax for the same period dropped by 16.3% to Rs.126.69 crores this year due to an exceptional item, the Voluntary Retirement Scheme announced for its employees during the quarter. The Company reported an expenditure of Rs.96.88 crores against this exceptional item and the entire amount has been accounted for in the quarter. The Company’s PBT before extraordinary item stands at Rs.270.64 crores in Q1 as against Rs.204.41 crores during the same period last year, registering a growth of 32.4% for the quarter.
The Watches Business in Q1 this year recorded a growth of 1.4%. The income of Watches Business grew from Rs.485.17 crores to Rs.491.72 crores. The Jewellery income in Q1 was Rs.2138.32 crores as against Rs.2072.91 crores, a growth of 3.2%. The Company’s Eyewear business grew by 2.7% from Rs.106.93 crores last year to Rs.109.87 crores in Q1 this year. The Company’s other businesses including Precision Engineering grew by a healthy 36.2%, to Rs.63.92 crores this year.
The Company has put together plans to stimulate demand for all its product categories through innovative advertising campaigns and new product launches in the coming quarters.
Retail expansion continued with a net addition of 11 stores across all its businesses in the first quarter, ending the period with a retail area of over 1.73 mn sq.ft nationally. The Company’s retail chain is 1293 stores strong, as on 30th June 2016 and is expanding with growth plans in place for all its retail businesses – watches, jewellery and eyewear.
After the satisfactory completion of the accounting and legal due diligence of CaratLane Trading Private Limited (CTPL), the Company has paid Rs 357cr to acquire around 62% stake in CTPL.
Mr. Bhaskar Bhat, Managing Director of the Company stated that “The first quarter this year has been good for the Company from a bottom line perspective, the final number though, has been impacted adversely by an exceptional item, the benefits of which will accrue over the coming years. Growth has been muted and our jewellery business has grown despite a reported drop of 50% in gold imports during the first half of this calendar year. The watches business introduced a new sub-brand Octane and the Jewellery business launched Niloufer which have received a good consumer response. The wedding season in Q1 was poor which impacted sales growth in both watches and jewellery. All our brands are working on plans to stimulate demand in the coming quarter. "

S. Ravi Kant
Executive Vice President
(Corporate Communications)

Quarter 1 Result 3 August 2016

CIN No. L74999TZ1984PLC001456

The financial year as well as the last quarter of 2015-16 was an extremely challenging one for the Company. The challenges faced were both on account of weak market conditions for all businesses and new regulatory restrictions for the jewellery business. Titan Company Ltd reported an income of Rs.11,176 crores for the year ended March 2016, registering a decline of 5.2% over the previous year. This performance came in the backdrop of an environment where the consumer sentiment did not pick up as expected. Income for Q4 however declined by only 1.5%, at Rs.2437.15 crores.
Profit before tax for the year declined by 17.5% to Rs.870.66 crores and net profit declined by14.2% over last year to Rs.705.85 crores. The strength of Company’s brands was tested in an environment of subdued sales across all retail formats of the Company as well as related categories. Weak consumer sentiment had an impact on retail sales across all businesses.
The Watches business of the Company recorded an income of Rs.1953.55 crores, a growth of 1.7%. This was achieved through planning and execution of various initiatives including new products and campaigns. The key highlight of the year was Titan’s entry into the world of smart watches through launch of ‘Titan Juxt’. The income from Jewellery segment saw a decline of 7.6% at Rs.8717.40 crores. The absence of revenues from the Golden Harvest scheme for the first eight months of the current fiscal and the disruption caused by the industry wide strike in the last quarter contributed significantly to the decline in revenue. The year saw launch of many successful collections in jewellery as well as an effective wedding campaign. The income from Eyewear business was Rs.371.58 crores, recording a healthy growth of 11.8% on the back of an aggressive network expansion strategy. Other businesses of the company comprising Precision Engineering business, accessories and fragrances recorded a sale of Rs.235.17 crores, a growth of 1.3%.
The year witnessed aggressive expansion of its retail network with a net addition of 82 stores by Watches, Jewellery and Eyewear businesses. As on 31st March 2016, the Company had 1283 stores, with over 1.7 million sq.ft of retail space delivering a retail turnover in excess of Rs.11,010 crores.
Mr. Bhaskar Bhat, Managing Director of the Company stated that “The year 2015-16 is behind us now. We are looking at opportunities of profitable growth while making investments behind our brands. The company will be exploring new avenues for technology induction in products and retail in addition to enhancing the ‘digital’ skills and capabilities of the organization. The premium space too has done well for our brands and investments will be made in creation of highly differentiated products for the discerning consumer.”
The Company had declared an interim dividend of Rs 2.20 per share (220%) in March 2016. Considering the performance of the Company in 2015-16, the directors have not recommended any further dividend.

S. Ravi Kant
Executive Vice President
(Corporate Communications)

Quarter 4 Results.pdf 6 May 2016

CIN No. L74999TZ1984PLC001456

Titan Company reported a growth of 17.3% in income in Q3 over same period last year due to pick up in retail sales in the festive season. Income for the nine-month period ending December 2015 however showed a decline of 6.2%. The overall income from operations in the third quarter, October to December 2015, was Rs.3398.38 crores, as compared to last year’s income of Rs.2898.28 crores during the same period. The income for April to December 2015, the nine-month period, stands at Rs.8739.75 crores, registering a decline of 6.2% over last year.

The profit before tax for Q3, October to December 2015, was Rs.287.51 crores, registering a growth of 18.3%. The net profit for the same period was Rs.225.29 crores and Rs.521.74 crores for the nine-months ended December 2015. However, the profit before tax for the nine-month period ending December 2015 showed a decline of 16.3%, at Rs.672.61 crores.

The income from watches was Rs.478.57 crores in Q3, a growth of 8.2% over last year. On the other hand, jewellery business recorded a growth of 20.1% in Q3 over last year. Tanishq had an income of Rs.2819.27 crores this year in Q3 as compared to Rs.2347.39 crores last year. For the nine-month ended December 2015, the jewellery business recorded a decline of 9.6%. The eyewear business reported a growth of 2.4% in income, in Q3, at Rs.80.03 crores. The nine-month growth for Eyewear was better at 12.8%. Other businesses of the company, comprising a B2B business, Precision Engineering and the accessories business registered a decline of 8.3% in Q3, at Rs.51.13 crores. The nine-month income for these businesses was almost flat, at Rs.156.60 crores.

The Titan Company (TCL) retail chain is 1266 stores strong, as on 31st December 2015 with the retail area crossing 1.6 million sq.ft. nationally for all its brands. A total of 122 stores were added by TCL brands in the nine month period till December 2015.

Mr. Bhaskar Bhat, Managing Director of the Company stated that “The Company has clocked income growth of 17.5% in the Quarter over the previous year primarily on account of growth in jewellery over a low base. Festive season demand remained lukewarm and needed shoring up with consumer schemes. Our effort continues therefore to be one of generating demand, through new product introductions and network expansion while retaining our focus on cost control.”



S. Ravi Kant

Executive Vice President
(Corporate Communications)

Quarter 3 Results.pdf 28 January 2016

Titan Company Ltd reports a decline of 25% in Q2 income.

CIN No. L74999TZ1984PLC001456

Titan Company Ltd announced a decline of 25% in net income in the second quarter over last year. The income from operations in the second quarter, July to September 2015, was Rs.2654 crores, against last year’s income of Rs.3564 crores during the same period. The income for April to September 2015, the first half of this financial year, stands at Rs.5341 crores, registering a decline of 16.8% over last year.

The net profit for Q2 is Rs.145.39 crores, against Rs.239.98 crores last year. The net profit for the six months ended September 2015 is Rs.296.45 crores, a decline of 29% over last year. The profit before tax is Rs.181.49 crores for Q2 and Rs.385.10 crores for the first half.

The retail sentiment has been extremely poor in this quarter and the Watches division, backed by activations for both Titan and Fastrack brands grew in income by 4.4%. A new sub-brand “SF” by Sonata was launched during the quarter, in the adventure sports segment. The income for watches was Rs.546 crores in Q2 as compared to Rs.523 crores last year. The jewellery business recorded an income of Rs.1981 crores this year in Q2 as compared to Rs.2929 crores last year. The sharp drop is largely due to the premature redemption of the Golden Harvest scheme that the Company had to do in the previous year in view of the changes to the Companies Act 2013 that brought such schemes under the ambit of public deposits. It may be noted that these redemptions contributed to 54% of the revenue this quarter last year. The Eyewear business grew by 15.3% in the quarter, recording an income of Rs.88 crores as against Rs.76 crores last year. Other businesses of the Company comprising Precision Engineering, a B2B business and accessories declined by 10% in Q2. The combined income of these businesses was Rs.58 crores in Q2. Their last year income for Q2 was Rs.65 crores.

The Titan Company retail chain is 1246 stores strong, as on 30th September 2015 with a retail area crossing 1.65 million sq.ft. nationally for all its brands.

Mr. Bhaskar Bhat, Managing Director of the Company stated that “This was an extremely challenging quarter for the company and we witnessed an income decline of 25%. While our watches business witnessed a growth of low single digit at 4.4% the jewellery business had a difficult quarter with a decline over last year. The industry saw a tough period with gold imports declining significantly. The decline in jewellery sales was also on account of discontinuation of our Golden Harvest Scheme. The Eyewear business continues to register double digit growth. All our brands are working on new product and marketing campaigns for the festive season ahead.”



S. Ravi Kant

Executive Vice President
(Corporate Communications)

Quarter 2 Results.pdf 30 October 2015

Titan Company Ltd faces revenue drop of 6% in Q1.

CIN No. L74999TZ1984PLC001456

Sales income for Titan Company in Q1 dropped by 5.9% largely on account of an extremely weak consumer sentiment and absence of the Golden Harvest scheme in jewellery this year. The sales income declined from Rs.2853.66 crores last year to Rs.2686.71 crores in Q1 and the profit after tax for the same period dropped by 14.8% to Rs.151.06 crores this year. The Company’s PBT stands at Rs.203.61 crores in Q1 as against Rs.240.47 crores during the same period last year, registering a drop of 15.3%.

The watches business in Q1 this year recorded a growth of 9.1%. The income of watches business grew from Rs.444.19 crores to Rs.484.54 crores. The Jewellery income in Q1 was Rs.2072.03 crores as against Rs.2325.27 crores, a decline of 10.9%. The jewellery business continues to face regulatory pressures that have an adverse impact on sales. The Company’s Eyewear business grew by a healthy 19.7% from Rs.89.21 crores last year to Rs.106.77 crores in Q1 this year. The Company’s other businesses including Precision Engineering grew by 36.3%, to Rs.46.85 crores this year.

The Company has put together plans to stimulate demand for all its product categories through innovative advertising campaigns and new product launches in the coming quarters.

Retail expansion continued with a net addition of 22 stores across all its businesses in the first quarter, ending the period with a retail area of over 1.62 mn sq.ft nationally. The Company’s retail chain is 1223 stores strong, as on 30th June 2015 and is expanding with growth plans in place for all its retail businesses – watches, jewellery and eyewear.

Mr. Bhaskar Bhat, Managing Director of the Company stated that “The first quarter this year has been an extremely challenging one. Retail sales for both our core businesses watches & jewellery, have been below expectations due to reduced walk-ins. May and June, in particular were poor months. Rural demand too was affected due to lower realizations and monsoon conditions. With good monsoon in sight and festive season ahead, we look forward to a better year ahead. ”



S. Ravi Kant

Executive Vice President
(Corporate Communications)

Quarter 1 Results.pdf 31 July 2015

Titan Company’s income grows by 9% in 2014-15

CIN No. L74999TZ1984PLC001456

Titan Company Ltd reported an income of Rs.11791 crores for the year ended March 2015, registering a growth of 9% over the previous year. This performance came in the backdrop of an environment where the consumer sentiment did not pick up as expected.

Profit before tax for the Company grew by 3.9% to Rs.1055.89 crores and net profit grew by a healthy 11.1% over last year to Rs.823.07 crores.

The strength of Company’s brands contributed to sales growth across all retail formats of watches, jewellery and eyewear.

The Watches business of the Company recorded an income of Rs.1921.04 crores, a growth of 7.3%. This was achieved through meticulous planning and execution of key initiatives. The income from Jewellery segment grew by 9.2%, crossing the Rs.9000 crores mark to Rs.9429.97 crores. The income from other segments comprising of Precision Engineering, a B2B Business, the Eyewear business and accessories grew by 12.9% to Rs.564.31 crores.

The year witnessed aggressive expansion of its retail network with a net addition of 123 stores by Watches, Jewellery and Eyewear businesses. As on 31st March 2015, the Company had 1201 stores, with over 1.59 million sq.ft of retail space delivering a retail turnover in excess of Rs.11770 crores.

Mr. Bhaskar Bhat, Managing Director of the Company stated that “The economic outlook for the year 2014-15 was quite good but improvement in consumer demand has been quite lukewarm. Our jewellery business was also adversely impacted due to regulatory changes and termination of the consumer friendly Golden Harvest Scheme. All our brands witnessed good growth during the first half but post Diwali season we have seen tapering of growths. The Company will however continue to invest in strategic initiatives taking into account our long term and sustainable growth plans.”

After considering the performance of the Company in 2014-15, the directors have recommended a dividend of 230%.



S. Ravi Kant

Executive Vice President
(Corporate Communications)

Quarter 4 Results.pdf 7 May 2015

Titan Company Ltd.: registered a growth in income of 9.4% in Q3

CIN No. L74999TZ1984PLC001456

Titan Company reported a growth of 9.4% in income in Q3 over same period last year and an impressive income growth of 16% for the nine month period ended December 2014. The overall income in the third quarter, October to December 2014, was Rs.2898.28 crore, as compared to last year’s income of Rs.2650.46 crore during the same period. The income for April to December 2014, the nine-month period, stands at Rs.9316.61 crore, registering a growth of 16% over last year.

The profit before tax for the nine-month period ending December 2014 showed a growth of 9%, at Rs.803.63 crore. Profit before tax for Q3, October to December 2014, was Rs.243.05 crore. The net profit for the same period was Rs.190.73 crore and Rs.607.98 crore for the nine-months ended December 2014. Net profit for the third quarter grew by 15.2%.

The income from watches was Rs.442.63 crore in Q3, marginally lower than last year. On the other hand, jewellery business recorded a growth of 11.2% in Q3 over last year. Tanishq ran two successful campaigns in this quarter, the “affordable Tanishq” and a new “wedding” campaign. Both these campaigns were well appreciated and helped in addition of new customers. Tanishq had an income of Rs.2347.39 crore this year in Q3 as compared to Rs.2110.70 crore last year. For the nine-month ended December 2014, the jewellery business recorded a growth of 17.4%. Other businesses of the Company comprising Precision Engineering, a B2B business, the Eyewear business and accessories grew by 14.8% in Q3. The combined income of these businesses in Q3 was Rs.133.67 crore as compared to Rs.116.42 crore last year.

The Titan Company (TCL) retail chain is 1172 stores strong, as on 31st December 2014 with the retail area crossing 1.5 million sq.ft. nationally for all its brands. A total of 151 stores were added by TCL brands in the nine month period till December 2014.

Mr. Bhaskar Bhat, Managing Director of the Company stated that “Titan Company, with a large portfolio of strong brands, operating in multiple industries, grew by over 9% in the third quarter. This period, which is a festival quarter, faced heightened activity from e-commerce players, participating in this gifting season. Going forward, the market sentiment is looking good, with the fiscal budget from the new Government coming up, drop in inflation and positive global factors like the slump in oil prices. The Company is gearing up for the last quarter with launch of new products and advertising campaigns that are lined up, including activation by some of the brands.”



S. Ravi Kant

Executive Vice President
(Corporate Communications)

Quarter 3 Results.pdf 27 Jan 2015

Titan Company’s income grows by 9% in 2014-15

CIN No. L74999TZ1984PLC001456

Titan Company Ltd reported an income of Rs.11791 crores for the year ended March 2015, registering a growth of 9% over the previous year. This performance came in the backdrop of an environment where the consumer sentiment did not pick up as expected.

Profit before tax for the Company grew by 3.9% to Rs.1055.89 crores and net profit grew by a healthy 11.1% over last year to Rs.823.07 crores.

The strength of Company’s brands contributed to sales growth across all retail formats of watches, jewellery and eyewear.

The Watches business of the Company recorded an income of Rs.1921.04 crores, a growth of 7.3%. This was achieved through meticulous planning and execution of key initiatives. The income from Jewellery segment grew by 9.2%, crossing the Rs.9000 crores mark to Rs.9429.97 crores. The income from other segments comprising of Precision Engineering, a B2B Business, the Eyewear business and accessories grew by 12.9% to Rs.564.31 crores.

The year witnessed aggressive expansion of its retail network with a net addition of 123 stores by Watches, Jewellery and Eyewear businesses. As on 31st March 2015, the Company had 1201 stores, with over 1.59 million sq.ft of retail space delivering a retail turnover in excess of Rs.11770 crores.

Mr. Bhaskar Bhat, Managing Director of the Company stated that “The economic outlook for the year 2014-15 was quite good but improvement in consumer demand has been quite lukewarm. Our jewellery business was also adversely impacted due to regulatory changes and termination of the consumer friendly Golden Harvest Scheme. All our brands witnessed good growth during the first half but post Diwali season we have seen tapering of growths. The Company will however continue to invest in strategic initiatives taking into account our long term and sustainable growth plans.”

After considering the performance of the Company in 2014-15, the directors have recommended a dividend of 230%.



S. Ravi Kant

Executive Vice President
(Corporate Communications)

Quarter 4 Results.pdf 7 May 2015

Titan Company Ltd registers a growth of 28.6% in Q2 net profit..

CIN No. L74999TZ1984PLC001456

Titan Company Ltd announced a growth of 28.6% in net profit in the second quarter over last year. The income from operations in the second quarter, July to September 2014, was Rs.3564.67 crore, a growth of 55.7% over last year’s income of Rs.2290.02 crore during the same period. The jewellery business of the company experienced an extra-ordinary growth due to redemption of Golden Harvest accounts of existing customers which had to be closed due to regulatory changes. The income for April to September 2014, the first half of this financial year, stands at Rs.6418.33 crore, registering a healthy growth of 19.3% over last year.

The net profit for Q2 is Rs.239.98 crore, up from Rs.186.65 crore last year – a growth of 28.6%. The net profit for the six months ended September 2014 is Rs.417.25 crore, up 13% over last year. The profit before tax is Rs.320.11 crore for Q2 and Rs.560.58 crore for the first half.

The Watches division has also done well in the quarter backed by successful activations for both Titan and Fastrack brands. A new brand campaign on ‘gifting of time’ went on air for Titan watches. The income for watches was Rs.527.46 crore in Q2 as compared to Rs.439.07 crore last year. The jewellery business recorded an outstanding income growth of 64.8% in Q2 over last year. It had an income of Rs.2929.38 crore this year in Q2 as compared to Rs.1777.39 crore last year. Other businesses of the Company comprising Precision Engineering, a B2B business, the Eyewear business and accessories grew by 20.9% in Q2. The combined income of these businesses was Rs.137.90 crore in Q2. Their last year income for Q2 was Rs.114.03 crore.

The Titan Company retail chain is 1136 stores strong, as on 30th September 2014 with a retail area crossing 15.3 lac sq.ft. nationally for all its brands.

Mr. Bhaskar Bhat, Managing Director of the Company stated that “This was an extra-ordinary quarter for the company and we witnessed an income growth of over 55% on account of an encouraging performance by all divisions, especially the jewellery business where the accounts of our Golden Harvest Scheme customers had to be closed based on regulatory changes. We have also seen an improvement in consumer sentiment in the second quarter and many of our brands ran successful activations to build on this sentiment and the festive mood. Gold prices have been stable and inflation is falling which would help in providing a lift to the economy. However, the coming quarter will have to be observed and tackled appropriately as some channels are beginning to report lower walk-ins. All our brands will invest in new campaigns in this quarter to improve our connect with the consumer.”



S. Ravi Kant

Executive Vice President
(Corporate Communications)

Quarter 2 Results.pdf 30 Oct 2014

Titan Company Ltd faces revenue drop of 7.6% in Q1 but contains decline of profit.

CIN No. L74999TZ1984PLC001456

As expected sales income for Titan Company in Q1 dropped by 7.6% largely on account of an unprecedented Q1 of 2013-14 which had witnessed a 47% growth in jewellery business last year when gold price fell sharply. While the sales income declined from Rs.3087.79 crores last year to Rs.2853.66 crores in Q1, the profit after tax for the same period dropped by only 2.9% from Rs.182.48 crores last year to Rs.177.27 crores this year. The Company’s PBT stands at Rs.240.47 crores in Q1 as against Rs.251.53 crores during the same period last year, registering a drop of 4.4%.

The watches business in Q1 this year recorded a healthy growth of 10.4%. The income of watches business grew from Rs.398.68 crores to Rs.439.95 crores. The Jewellery income in Q1 was Rs.2325.27 crores as against Rs.2586.61 crores, a decline of 10.1%. The jewellery business continues to face regulatory pressures that have an adverse impact on sales. The Company’s other businesses, Eyewear, Precision Engineering and accessories grew by 3.8%, from Rs.123.18 crores to Rs.127.83 crores this year.

The Company has put together exciting plans to stimulate demand for all its product categories through innovative advertising campaigns and new product launches.

Retail expansion continued with a net addition of 22 stores across all its businesses in the first quarter, ending the period with a retail area of over 1.48 mn sq.ft nationally. The Company’s retail chain is 1100 stores strong, as on 30th June 2014 and is expanding with growth plans in place for all its retail businesses – watches, jewellery and eyewear. The Company also has moved into a new Corporate Office in Bangalore towards the end of the quarter.

Mr. Bhaskar Bhat, Managing Director of the Company stated that “The consumer discretionary spend in the quarter was far more stable than what we witnessed in the past few quarters. With stability in the political environment, the market mood has been positive. However, due to an extraordinary first quarter witnessed by jewellery business last year, the topline growth in this quarter was tough. Regulatory pressures faced by the jewellery industry have amplified the challenge.”

S. Ravi Kant

Executive Vice President
(Corporate Communications)

Quarter 1 Results.pdf 1 Aug 2014

Titan Company's Income grows by 8.1% in a challenging year

CIN No. L74999TZ1984PLC001456
Titan Company Ltd reported an income of Rs.10815.08 crores for the year ended March 2014, registering a growth of 8.1% over the previous year. This performance came in the backdrop of a challenging economic environment which was met by the talent and commitment of employees and business associates that helped Titan Company register this growth in a difficult year.

Profit before tax for the Company grew by 1% to Rs.1015.93 crores and net profit grew by 2.2% over last year to Rs.741.14 crores.

The strength of Company’s brands contributed to sales growth across all retail formats of watches, jewellery and eyewear.

The Watches business of the Company recorded an income of Rs.1790.80 crores, a growth of 6.9%. This was achieved through meticulous planning and execution of key initiatives. The income from Jewellery segment grew by 6.5%, crossing the Rs.8500 crores mark to Rs.8632.03 crores. The income from other segments comprising of Precision Engineering, a B2B Business, the Eyewear business and accessories grew by 20.7% to Rs.499.79 crores.

The year witnessed aggressive expansion of its retail network with a net addition of 125 stores by Watches, Jewellery and Eyewear businesses. As on 31st March 2014, the Company had 1078 stores, with over 1.5 million sq.ft of retail space delivering a retail turnover in excess of Rs.10900 crores.

Mr. Bhaskar Bhat, Managing Director of the Company stated that “The year 2013-14 was a challenging year given the economic environment that was subdued. The year also witnessed other adverse factors like the regulatory changes that impacted our jewellery business. The Company will however continue to invest in strategic initiatives taking into account our long term and sustainable growth plans. Given the expectations of our stakeholders and aspirations of our employees, we move confidently into the new financial year with aggressive plans.”

After considering the performance of the Company in 2013-14, the directors have recommended a dividend of 210%.

S. Ravi Kant

Executive Vice President
(Corporate Communications)

Quarter 4 Results.pdf 6 May 2014

Titan Company Ltd.: registered a decline in income of 11.1% in Q3

Titan Company reported a decline of 11.1% in income in Q3 over same period last year and an income growth of 8.3% for the nine month period ended December 2013. The overall income in the third quarter, October to December 2013, was Rs.2650.46 crore, as compared to last year’s income of Rs.2982.89 crore during the same period. The income for April to December 2013, the nine-month period, stands at Rs.8028.27 crore, registering a growth of 8.3% over last year.

The profit before tax for the nine-month period ending December 2013 showed a marginal decline of 0.3%, at Rs.737.02 crore. Profit before tax for Q3, October to December 2013, was Rs.228.23 crore. The net profit for the same period was Rs.165.57 crore and Rs.534.70 crore for the nine-months ended December 2013.

The overall trend in sales over the last 3 quarters has been similar across all brands and channels with Q3 registering the lowest growth this year due to a poor festive season. The income from watches was Rs.455.48 crore in Q3, a growth of 7.5%. On the other hand, jewellery business recorded a decline of 15.4% in Q3 over last year primarily due to a lower demand for gold Jewellery. The first quarter had seen a surge in demand due to lower gold prices. The jewellery industry was also adversely impacted by the regulatory measures implemented to restrict gold imports. It had an income of Rs.2126.67 crore this year in Q3 as compared to Rs.2515.24 crore last year. For the nine-month ended December 2013, the jewellery business recorded a growth of 8.7%. Other businesses of the Company comprising Precision Engineering, a B2B business, the Eyewear business and accessories grew by 18.6% in Q3. The combined income of these businesses in Q3 was Rs.116.52 crore as compared to Rs.98.26 crore last year.

The Titan Company retail chain is 1039 stores strong, as on 31st December 2013 with the retail area crossing 14 lac sq.ft. nationally for all its brands.

Mr. Bhaskar Bhat, Managing Director of the Company stated that “The sentiments in the market continue to be weak and the company witnessed an extremely poor retail-sales quarter for both its watches and jewellery businesses. The impact of festive season this quarter was much below our expectations. Although the stock market has picked up, the high inflation levels have resulted in lower disposable income in the hands of consumers. In the last quarter of this financial year we have planned aggressive sales promotions for both watches and jewellery to stimulate demand and generate consumer interest in these categories. We will continue to make adequate investments in mass communication and build our brands.”


S. Ravi Kant

Executive Vice President
(Corporate Communications)

Quarter 3 Results.pdf 29 Jan 2014

Titan Company Ltd.: Profit before tax for H1 crosses Rs.500cr.

Titan Company Ltd announced a growth of 3.6% in net profit in a challenging quarter. The income from operations in the second quarter, July to September 2013, was Rs.2290.02 crore, a growth of 1.4% over last year’s income of Rs.2258.29 crore during the same period. The income for April to September 2013, the first half of this financial year, stands at Rs.5377.81 crore, registering a healthy growth of 21.3% over last year.

The net profit for Q2 is Rs.186.65 crore, up from Rs.180.17 crore last year – a growth of 3.7%. The net profit for the six months ended September 2013 is Rs.369.13 crore, up 9.8% over last year. The profit before tax is Rs.257.26 crore for Q2 and Rs.508.79 crore for the first half. The Watch and Eyewear businesses of the company, with a decent import content, continued to be affected by input cost increases and adverse currency movements. Despite the import cost challenge, the margins were well managed.

The income for watches was Rs.442.36 crore in Q2 as compared to Rs.471.79 crore last year. On the other hand, jewellery business recorded an income growth of 4.3% in Q2 over last year. It had an income of Rs.1798.07 crore this year in Q2 as compared to Rs.1723.93 crore last year. Other businesses of the Company comprising Precision Engineering, a B2B business, the Eyewear business and accessories grew by 17.2% in Q2. The combined income of these businesses was Rs.114.07 crore in Q2. Their last year income for Q2 was Rs.97.37 crore.

The Titan Company retail chain is 1002 stores strong, as on 30th September 2013 with a retail area crossing 13.6 lac sq.ft. nationally for all its brands.

Mr. Bhaskar Bhat, Managing Director of the Company stated that “This was a challenging quarter on account of weak consumer sentiments, particularly for discretionary purchase categories like Watches and Jewellery. The continued inflation and the weak rupee are affecting demand as well as costs and interest rates that continue to be at high levels. Regulatory issues on gold created a high demand supply gap in the market. The first half numbers for Titan Company look healthy on the back of a good first quarter. Given the good monsoon across the country and a likely change in consumer sentiment driven by stock market movement, we are hopeful of a good second half.”


S. Ravi Kant
Executive Vice President (Corporate Communications)

Quarter 2 Results.pdf 31 Oct 2013

Titan Industries Ltd. – Income grows by 42% in Q1

Titan Industries Ltd. announced an income growth of 42% in a challenging first quarter of 2013-14. While the sales income grew from Rs.2174.74 crores last year to Rs.3087.79 crores in Q1, the profit after tax for the same period grew by 16.9% to Rs.182.48 crores from Rs.156.12 crores last year. The Company’s PBT stands at Rs.251.53 crores in Q1 as against Rs.212.25 crores during the same period last year, registering a growth of 18.5%.

All businesses of the Company have recorded growth in first quarter. Jewellery income in Q1 was Rs.2614.16 crores, a growth of 47.2% over last year’s income of Rs.1775.53 crores. The high growth in jewellery business was fuelled by a sharp drop in price of gold in April and a good wedding season during the first quarter. The watches business recorded an income of Rs.401.65 crores as against Rs.360.69 crores last year in Q1, a growth of 11.4%. Discretionary spend has been under pressure and had an impact on growth of watches business. The Company’s other businesses, Eyewear, Precision Engineering and Accessories grew by 37.5% to Rs.123.21 crores.

The Company continues to stimulate demand for all its product categories through innovative advertising campaigns, the launch of “Inara” diamond jewellery and a new brand of Sunglasses “Titan Glares”.

Retail expansion continued with a net addition of 15 stores across all its businesses in first quarter, ending the period with a retail area of over 1.3 mn sq.ft nationally. The Company’s retail chain is 968 stores strong, as on 30th June 2013 and is expanding with growth plans in place for all its retail businesses – watches, jewellery and eyewear.

Mr. Bhaskar Bhat, Managing Director of the Company stated that “The first quarter has seen encouraging topline growth, largely driven by jewellery on account of drop in gold prices. This resulted in high sales of plain gold jewellery and coins that deliver lower margins. Margins in both watch and jewellery businesses were impacted due to change in product mix. Consumer sentiment continues to be weak and discretionary spend was subdued. The pressure of high inflation due to a weak rupee as well as rising import costs are a matter of concern. For the coming quarter, we are working on our plans to deal with the weak consumer sentiment as well as the impact of recent regulatory measures introduced in the financing of gold imports.”

S. Ravi Kant
Executive Vice President
(Corporate Communications)

Quarter 1 Results.pdf Thur 1 Aug 2013

Titan Industries profits grow by 20% for the year ended March 2013

Titan Industries profits grow by 20% for the year ended March 2013 Income crosses Rs.10,000 crores and Profit before tax goes past Rs.1000 crores

The silver jubilee year of Titan Industries Ltd., was a milestone year. The total income for the year crossed Rs.10,000 crores and profit before tax crossed the Rs.1000 crores mark. This performance came in the backdrop of a challenging economic environment. Sales income for the year 2012-13 was Rs.10,009.05 crores registering a growth of 14.5% over last year. Titan Industries pursued growth during 2012-13 in all its business. The Company invested in many strategic initiatives taking into account long term and sustainable growth. All these backed by the talent and commitment of employees and business associates have helped Titan Industries register this encouraging growth in a difficult year.

Profit before tax for the Company grew by 20% to Rs. 1006.27 crores and net profit too grew by 20.8% over last year to Rs.725.18 crores.

The strength of Company’s brands contributed to sales growth across all retail formats of watches, jewellery and eyewear.

The Watches business of the Company recorded an income of Rs.1675.87 crores, a growth of 9.6%. This was achieved through excellent planning and execution of key initiatives. The income from Jewellery segment grew by 14.8%, crossing the Rs.8000 crores mark to Rs.8107.99 crores. The income from other segments comprising of Precision Engineering, a B2B Business, the Eyewear business and accessories grew by 25.9% to Rs.414.03 crores.

The year witnessed aggressive expansion of its retail network with a net addition of 126 stores by Watches, Jewellery and Eyewear businesses. As on 31st March 2013, the Company had 953 stores, with over 1.27 million sq.ft of retail space delivering a retail turnover in excess of Rs.9980 crores.

Mr. Bhaskar Bhat, Managing Director of the Company stated that “The year 2012-13 was a challenging year given the economic environment that was subdued and other adverse factors like the high price of gold that impacted our jewellery business. It has however been a fruitful year for Titan Industries with healthy growth and the fourth quarter in particular, was very encouraging with 28% growth in profit. Given the high expectations of all our stakeholders and aspirations of our employees, we move confidently into the new financial year with aggressive plans.”

After considering the excellent performance of the Company, the directors have recommended a dividend of 210%.

S. Ravi Kant
Executive Vice President
(Corporate Communications)

Quarter 4 Results.pdf Fri 3 May 2013

Titan Industries Ltd. : Q3 shines with Net profit growth of 24.3%

Titan Industries Ltd reported better sales performance in Q3 compared to Q2 and announced a growth of 23.2% in income over the same quarter last year. The overall income in the third quarter, October to December 2012, was Rs.2982.89 crore, as compared to last year’s income of Rs.2421.68 crore during the same period. The income for April to December 2012, the nine month period, stands at Rs.7415.92 crore, registering a growth of 14.3% over last year.
The news on profits is very encouraging. The net profit for Q3 is Rs.203.73 crore, up from Rs.163.91 crore last year – a growth of 24.3%. The net profit for the nine months ended 31st December 2012 is Rs.539.96 crore, up 18.4% over last year. The profit before tax is Rs.278.88 crore for Q3 and Rs.739.16 crore for the nine months ended 31st December 2012.
The overall trend in sales over the last 3 quarters has been positive at the end of third quarter across all consumer facing business of the company. The income for watches was Rs.423.53 crore in Q3 as compared to Rs.383.11 crore last year, a growth of 10.5%. On the other hand, jewellery business recorded an impressive income growth of 26.7% in Q3 over last year. It had an income of Rs.2515.24 crore this year in Q3 as compared to Rs.1985.87 crore last year. Other businesses of the Company comprising Precision Engineering, a B2B business, the Eyewear business and accessories grew by 4.3% in Q3. The combined income of these businesses in Q3 was Rs.98.26 crore as compared to Rs.94.22 crore last year.
The Titan Industries retail chain is 918 stores strong, as on 31st December 2012 with the retail area crossing 12 lac sq.ft. nationally for all its brands.
Mr. Bhaskar Bhat, Managing Director of the Company stated that “The third quarter has been a good quarter for the company and overall sales trend is encouraging. Consumer sentiment is turning positive with the stock markets picking up. Retail stores are experiencing an increase in footfall and the festive season in this quarter was a good one for all our brands, though demand had to be stimulated through investments in mass communication. We hope to carry forward this momentum into the last quarter.”
S. Ravi Kant
Executive Vice President
(Corporate Communications) Wed 30 Jan 2013

Titan Industries Ltd. : Net profit margin up 83 BPS

Titan Industries Ltd continued to grow well and announced extremely good growth in net profit in Q2. The overall income in the second quarter, July to September 2012, was Rs.2288.48 crore, a growth of 9.5% over last year's income of Rs.2089.33 crore during the same period. The income for April to September 2012, the first half of this financial year, stands at Rs.4486.72 crore, registering a growth of 8.9% over last year.

The news on profits is very encouraging. The net profit for Q2 is Rs.180.14 crore, up from Rs.148.45 crore last year - a growth of 21.3%. The net profit for the six months ended September 2012 is Rs.336.23 crore, up 15.2% over last year. The profit before tax is Rs.248.06 crore for Q2 and Rs.460.28 crore for the first half. The Watch and Eyewear businesses of the company, with a decent import content, continued to be affected by input cost increases and adverse currency movements leading to a challenge on managing desired margins.

All businesses of the Company have recorded growth in income compared to the same period last year. The income for watches was Rs.471.79 crore in Q2 as compared to Rs.417.42 crore last year, a growth of 13%. On the other hand, jewellery business recorded an income growth of 5.7% in Q2 over last year. It had an income of Rs.1723.93 crore this year in Q2 as compared to Rs.1631.51 crore last year. Other businesses of the Company comprising Precision Engineering, a B2B business, the Eyewear business and accessories grew by 49.4% in Q2. The combined income of these businesses was Rs.97.37 crore in Q2. Their last year income for Q2 was Rs.65.17 crore.

The Titan Industries retail chain is 879 stores strong, as on 30th September 2012 with a retail area crossing 11.3 lac sq.ft. nationally for all its brands.

Mr. Bhaskar Bhat, Managing Director of the Company stated that “The second quarter retail sales growth in all our formats indicate a change in consumer sentiment with a willingness to spend on attractive offers and new products. Demand had to be stimulated through investment in advertising. The expectation, therefore, for the festive season is positive even though sale may come at a cost. We are introducing several new products and opening many stores early in the third quarter.
S. Ravi Kant
Executive Vice President (Corporate Communications) Wed 31 Oct 2012

Titan Industries Ltd. - Income grows by 9.2% and net profit up by 8.8% in Q1

Titan Industries Ltd. announced an income growth of 9.2% in an extremely challenging first quarter of 2012-13. While the sales income grew from Rs.2020.51 crores last year to Rs.2205.65 crores in Q1, the profit after tax for the same period grew by 8.8% to Rs.156.09 crores from Rs.143.51 crores last year. The Company's PBT stands at Rs.212.22 crores in Q1 as against Rs.196.76 crores during the same period last year, registering a growth of 7.9%.

All businesses of the Company have recorded growth in first quarter. Jewellery income in Q1 was Rs.1775.53 crores, a growth of 7.8% over last year's income of Rs.1647.11 crores. Gold in rupee terms touched its peak at Rs.3067 per gram of 24Kr. during this quarter thus affecting the growth of jewellery. The watches business recorded an income of Rs.360.69 crores as against Rs.315.39 crores last year in Q1, a growth of 14.4%. The reduction in wedding dates during the quarter has also affected both watches and jewellery. The Company's other businesses, Eyewear, Precision Engineering and Accessories grew by 15.7% to Rs.89.62 crores. The Precision Engineering Division continued its momentum of last year and the business outlook looks positive with enhanced interest from overseas clients.

The company's youth brand, Fastrack launched a successful collection in sunglasses called “Eye Sport" and also introduced girls' summer bags and 'His and Her' collections. In international markets, the Company launched a successful “Search for the Face of Titan campaign in Vietnam and sponsored a high profile marathon in Kuala Lumpur. The Company maintained the momentum of retail expansion across all its businesses and opened 20 stores in the first quarter, ending the period with a retail area of 1.08m sq.ft nationally. The Titan Industries retail chain is 847 stores strong, as on 30th June 2012 and is expanding with growth plans in place for all its retail businesses - watches and accessories, jewellery and eyewear.

Mr. Bhaskar Bhat, Managing Director of the Company stated that “The first quarter has been disappointing by way of sales growth due to several factors leading to a weak consumer sentiment. Consumer response was good only to discount offers thereby impacting margins, specially in watches and eyewear. Looking ahead, factors like high inflation, a weak rupee and poor monsoon are likely to have an adverse impact on our targeted growth but Titan Industries will leverage the strength of its brands and maintain its investments in brand building, retail network expansion and new product introductions to infuse confidence in consumers.
S. Ravi Kant
Executive Vice President
(Corporate Communications) Tus 31 Jul 2012

Titan Industries announces outstanding results for the year ended March 2012

Titan Industries Limited had an extremely good 2011-12 and came up with an outstanding performance in a challenging economic environment. Sales income for the year 2011-12 was Rs.8838.38 crores registering a growth of 35.5% over last year. Titan Industries pursued aggressive growth during 2011-12 in all its business. The Company invested in many strategic initiatives taking into account long term and sustainable growth. All these backed by the talent and commitment of employees and business associates have helped Titan Industries register this encouraging growth.

Profit before tax for the Company grew by 40% to Rs. 838.44 crores and net profit too grew by 39.4% over last year to Rs.600.15 crores.

The strength of its brands and consumer sentiment reflected in consistent sales growth across all retail formats of watches, jewellery and eyewear.

The Watches business of the Company recorded an income of Rs.1529.76 crores, a healthy growth of 20.3%. This was achieved through excellent planning and execution of key initiatives. The income from Jewellery segment grew by 39.8%, crossing the Rs.7000 crores mark to Rs.7064.16 crores. The profit, before interest and taxes, from the jewellery segment was Rs.697.55 crores for the year. The income from other segments comprising of Precision Engineering, a B2B Business, the Eyewear business and accessories grew by 34.8% from Rs.243.81 crores to Rs.328.81 crores. The Eyewear business expanded rapidly during the year and touched the mark of 200 stores, of Titan Eye+, across 70 towns. The Precision Engineering also performed very well as the Aerospace and Automotive industries showed signs of recovery from the impact of global economic crisis.

The year witnessed aggressive expansion of its retail network with an addition of over 200 stores by Watches, Jewellery and Eyewear businesses. As on 31st March 2012, the Company had 827 stores, with over 1 million sq.ft of retail space delivering a retail turnover in excess of Rs.8500 crores.

Mr. Bhaskar Bhat, Managing Director of the Company stated that “It has been a challenging yet fruitful year for Titan Industries Limited. In fact, the Company has moved on to a new platform of performance as well as future expectations. Given the high expectations of all our stakeholders and aspirations of our employees, we move confidently into the new financial year. After considering the excellent performance of the Company, the directors have recommended a dividend of 175%.
After considering the excellent performance of the Company, the directors have recommended a dividend of 175%.

Mon 30 Apr 2012

Titan Industries Ltd. : Revenues up 37% over last year Q2

After a record performance in the first quarter of 2011-12, Titan Industries Ltd. continued to record growth in top line and profits in Q2. The overall income in the second quarter, July to September 2011, was Rs.2124.58 crores, a growth of 37% over last year's income of Rs.1551.22 crores during the same period. The income for April to September 2011, the first half of this financial year, stands at Rs.4172.51 crores, registering a growth of 48.4% over last year.

The news on profits is also encouraging. The net profit for Q2 is Rs.148.20 crores, up from Rs.127.77 crores last year - a growth of 16%. The net profit for the six months ended September 2011 is Rs.291.56 crores, up 39.5% over last year. The profit before tax is Rs.209.58 crores for Q2 and Rs.406.13 crores for the first half. The Company and, in particular, the Watch business was affected by input cost increases and adverse currency fluctuations leading to pressure on margins.

All businesses of the Company have recorded good performance compared to last year due to good retail sales growth. The income for watches was Rs.417.41 crores in Q2 as compared to Rs.359.43 crores last year, a growth of 16.1%. On the other hand jewellery business recorded an income growth of 44.7% in Q2 over last year. It had an income of Rs.1631.23 crores this year in Q2 as compared to Rs.1127.36 crores last year. Other businesses of the Company comprising Precision Engineering, a B2B business, the Eyewear business and accessories grew by 16.3% in Q2. The combined income of these businesses was Rs.65.17 crores in Q2. Their last year income for Q2 was Rs.56.03 crores.
The Titan Industries retail chain is 737 stores strong, as on 30th September 2011 with a retail area crossing 9.2 lakh sq.ft. nationally for all its brands.

Mr. Bhaskar Bhat, Managing Director of the Company stated that “The second quarter has been a healthy quarter for us recording an income growth of 37% despite a slowdown being witnessed by the economy. This performance was driven by good retail growth for most of our brands and various initiatives undertaken by all businesses to introduce exciting products and enhance customer satisfaction. During the second quarter considered as an 'off-season' quarter, demand had to be stimulated through investment in advertising and in consumer offers. This strategy has helped keep retail sales growing - such investments are likely to continue through Q3.

S. Ravi Kant
Executive Vice President
(Corporate Communications) Mon 24 oct 2011

Titan Industries Ltd. - Income grows by 62.5% and net profit up by 76.4% in Q1

After an extra-ordinary growth in the last financial year, Titan Industries Ltd., has come up with yet another sterling performance during the first quarter of 2011-12. While the sales income grew by 62.5% in Q1 over last year, the profit after tax for the same period grew by 76.4% to Rs.143.36 crore from Rs.81.28 crore last year.

The overall growth and improvement in performance of the Company in the first quarter has been triggered by good retail growth across all its brands and retail chains. The biggest contributor to growth has been the jewellery business which has had a dream quarter registering an income growth of 71.9%. However the outlook for the next quarter or two is of some concern due to the continuing increase in price of gold and more significantly, the substantial rise in price of diamonds during the last six months.

The revenue of Titan Industries exceeded Rs.2000 crore in a quarter for the first time. The Company recorded a growth of 62.5% in income, growing from Rs.1260.24 crore last year to Rs.2047.93 crore this year in Q1. The Company's PBT stands at Rs.196.55 crore in Q1 as against Rs.108.63 crore during the same period last year, registering a growth of 80.9%

All businesses of the Company have recorded good growth. Jewellery income in Q1 was Rs.1633.74 crore, a growth of 71.9% over last year's income of Rs.950.54 crore. The watches business recorded an income of Rs.313.06 crore as against Rs.254.02 crore last year in Q1, a growth of 23.2%. The Company's other businesses, Eyewear and Precision Engineering grew by 44% to Rs.77.45 crore.

The Company maintained the momentum of retail expansion across all its businesses and opened 30 stores in the first quarter. The Company ended the quarter with a retail area crossing 8.7 lac sq.ft nationally. The Titan Industries retail chain is 696 stores strong, as on 30th June 2011 and is rapidly expanding with aggressive growth plans in place for all its retail businesses - watches, jewellery and eyewear.

Titan Industries has been ranked 15th in the “Great Place to Work study of best employees to work for, an improvement from the 19th position of last year. The Company retained its No.1 position in this study for the second year in succession in the Retail category. Mr. Bhaskar Bhat, Managing Director of the Company stated that “The year has begun well for us and Quarter 1 has been a healthy quarter marked by good growth in retail and all other channels. People are our biggest asset and our Company has once again been ranked 1st in the Retail category as a Great Place to Work. The economy, however, is showing some signs of slowing down with inflation being a major concern.

S. Ravi Kant
Executive Vice President
(Corporate Communications) Thu 28 July 2011

Titan Industries Ltd. - Net Up 64.6% in Q2

After a record performance in the first quarter of 2010-11, Titan Industries Ltd. has once again come out with extremely encouraging results in Q2. The overall income in the second quarter, July to September 2010, was Rs.1551.22 crores, a growth of 34% over last year's income of Rs.1156.41 crores during the same period. The income for April to September 2010, the first half of this financial year, stands at Rs.2811.46 crores, registering a growth of 37.5% over last year.
While overall income has shown robust growth, the news on profits is even better. The net profit for Q2 is Rs.127.77 crores, up from Rs.77.60 crores last year - a growth of 64.6%. The net profit for six months ended September 2010 is Rs.209.05 crores, up 69.1% over last year. The profit before tax is Rs.170.74 crores for Q2 and Rs.279.37 crores for the first half.
All businesses of the Company have recorded good performance compared to last year due to good retail sales growth. The income for watches was Rs.358.36 crores in Q2 as compared to Rs.295.52 crores last year, a growth of 21.3%. On the other hand jewellery business recorded an income growth of 36.7% in Q2 over last year. It had a sales income of Rs.1124.56 crores this year in Q2 as compared to Rs.822.62 crores last year. Other businesses of the Company comprising Precision Engineering, a B2B business and the new Eyewear business grew by 80.6% in Q2. The combined income of these two businesses was Rs.56.03 crores in Q2. Their last year income for Q2 was Rs.31.03 crores.

Mr. Bhaskar Bhat, Managing Director of the Company stated that “Quarter 2 has been a healthy quarter for us recording an income growth of 34%. This performance was driven by good retail growth in all our brands and various initiatives undertaken by all businesses to introduce exciting products and enhance customer satisfaction. Our retail footprint is growing nationally; quarter on quarter, with expansion of world-class retail stores to deliver a memorable and differentiated customer experience for all our brands.

(S. Ravi Kant)
Executive Vice President
Corporate Communications Mon 25 Oct 2010