Financials Titan Company Limited

Stocks

TITAN

INE280A01028

Apparel & Accessories

Delayed Bombay S.E. Other stock markets 01:26:31 15/07/2026 pm IST			5-day change	1st Jan Change
4,593.00 ^INR	+0.46%		+0.13%	+13.39%

13/07	Prosus-backed Indian jeweller BlueStone to double workforce, expand beyond malls	RE
06/07	Indian jeweller Titan posts 41% growth in consumer business in first quarter	RE

Projected Income Statement: Titan Company Limited

Fiscal Period: March	2022	2023	2024	2025	2026	2027	2028	2029
Net sales ¹	2,72,100	3,82,700	4,71,140	5,48,420	7,75,540	8,78,180	10,27,796	12,10,702
Change	-	40.65%	23.11%	16.4%	41.41%	13.23%	17.04%	17.8%
EBITDA ¹	32,790	47,700	50,240	52,920	73,030	92,660	1,11,931	1,33,851
Change	-	45.47%	5.32%	5.33%	38%	26.88%	20.8%	19.58%
EBIT ¹	29,320	44,060	45,770	47,550	67,070	85,332	1,04,003	1,24,566
Change	-	50.27%	3.88%	3.89%	41.05%	27.23%	21.88%	19.77%
Interest Paid ¹	-1,950	-3,000	-4,800	-7,670	-9,550	-10,963	-11,423	-12,207
Earnings before Tax (EBT) ¹	29,320	44,650	46,070	44,810	61,980	81,288	1,00,195	1,20,682
Change	-	52.29%	3.18%	-2.73%	38.32%	31.15%	23.26%	20.45%
Net income ¹	21,800	33,330	35,440	33,350	46,300	58,936	72,387	84,797
Change	-	52.89%	6.33%	-5.9%	38.83%	27.29%	22.82%	17.14%
Announcement Date	03/05/22	03/05/23	03/05/24	08/05/25	08/05/26	-	-	-

¹INR in Million

Estimates

Fiscal Period: March	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4	2027 Q1
Net sales ¹	32,490	71,700	95,150	72,760	89,610	87,300	1,08,750	97,040	1,11,450	1,16,600	1,30,520	1,12,570	1,20,530	1,32,150	1,60,970	1,34,770	1,45,640	1,65,340	2,25,220	2,39,340	1,90,012
Change	-	120.68%	32.71%	-23.53%	23.16%	-2.58%	24.57%	-10.77%	14.85%	4.62%	11.94%	-13.75%	7.07%	9.64%	21.81%	-16.28%	8.07%	13.53%	36.22%	6.27%	-20.61%
EBITDA ¹	1,440	9,540	13,990	7,820	11,640	12,340	13,300	10,440	11,030	13,550	14,570	11,090	12,110	11,330	15,100	14,380	16,320	16,200	23,360	17,150	20,028
Change	-	562.5%	46.65%	-44.1%	48.85%	6.01%	7.78%	-21.5%	5.65%	22.85%	7.53%	-23.88%	9.2%	-6.44%	33.27%	-4.77%	13.49%	-0.74%	44.2%	-26.58%	16.78%
EBIT ¹	610	8,630	13,140	6,940	10,770	-	12,370	-	10,040	12,450	-	9,890	-	-	-	12,940	14,890	-	21,850	-	17,211
Change	-	1,314.75%	52.26%	-47.18%	55.19%	-	-	-	-	24%	-	-	-	-	-	-	15.07%	-	-	-	-
Charge d'intérêts ¹	-440	-450	-520	-540	-550	-	-610	-	-790	-	-	-	-	-	-1,860	-2,040	-2,160	-2,220	-2,430	-2,740	-2,850
Earnings before Tax (EBT) ¹	820	8,680	13,170	6,650	10,660	11,550	12,670	9,790	10,240	12,610	13,450	9,770	10,210	9,330	13,200	12,070	13,800	13,610	19,710	14,860	16,124
Change	-	958.54%	51.73%	-49.51%	60.3%	8.35%	9.7%	-22.73%	4.6%	23.14%	6.66%	-27.36%	4.5%	-8.62%	41.48%	-8.56%	14.33%	-1.38%	44.82%	-24.61%	8.51%
Net income ¹	610	6,410	9,870	4,910	7,930	8,570	9,510	7,340	7,770	9,400	10,400	7,860	7,700	7,050	9,900	8,700	10,300	10,060	14,700	11,240	12,425
Change	-	950.82%	53.98%	-50.25%	61.51%	8.07%	10.97%	-22.82%	5.86%	20.98%	10.64%	-24.42%	-2.04%	-8.44%	40.43%	-12.12%	18.39%	-2.33%	46.12%	-23.54%	10.55%
Announcement Date	04/08/21	27/10/21	03/02/22	03/05/22	05/08/22	04/11/22	02/02/23	03/05/23	02/08/23	03/11/23	01/02/24	03/05/24	02/08/24	05/11/24	04/02/25	08/05/25	07/08/25	03/11/25	10/02/26	08/05/26	-

¹INR in Million

Estimates

Fiscal Period: March	2024 S1	2026 S1
Net sales ¹	2,28,050	3,10,980
Change	-	36.36%
EBITDA ¹	-	32,520
Change	-	-
EBIT	-	-
Change	-	-
Charge d'intérêts ¹	-	-4,380
Earnings before Tax (EBT) ¹	-	27,410
Change	-	-
Net income ¹	-	20,360
Change	-	-
Announcement Date	03/11/23	03/11/25

¹INR in Million

Estimates

Forecast Balance Sheet: Titan Company Limited

Fiscal Period: March	2022	2023	2024	2025	2026	2027	2028	2029
Net Debt ¹	55,410	49,060	1,18,560	1,47,020	1,99,630	35,786	11,235	-26,461
Change	-	-11.46%	141.66%	24%	35.78%	-82.07%	-68.61%	-335.52%
Announcement Date	03/05/22	03/05/23	03/05/24	08/05/25	08/05/26	-	-	-

¹INR in Million

Estimates

Cash Flow Forecast: Titan Company Limited

Fiscal Period: March	2022	2023	2024	2025	2026	2027	2028	2029
CAPEX ¹	1,730	2,880	5,200	3,700	4,680	8,094	9,031	8,702
Change	-	66.47%	80.56%	-28.85%	26.49%	72.96%	11.57%	-3.64%
Free Cash Flow (FCF) ¹	-12,990	15,220	15,100	-5,400	43,970	47,304	45,006	65,883
Change	-	217.17%	-0.79%	-135.76%	914.26%	7.58%	-4.86%	46.39%
Announcement Date	03/05/22	03/05/23	03/05/24	08/05/25	08/05/26	-	-	-

¹INR in Million

Estimates

Forecast Financial Ratios: Titan Company Limited

Fiscal Period: March	2022	2023	2024	2025	2026	2027	2028	2029
Profitability
EBITDA Margin (%)	12.05%	12.46%	10.66%	9.65%	9.42%	10.55%	10.89%	11.06%
EBIT Margin (%)	10.78%	11.51%	9.71%	8.67%	8.65%	9.72%	10.12%	10.29%
EBT Margin (%)	10.78%	11.67%	9.78%	8.17%	7.99%	9.26%	9.75%	9.97%
Net margin (%)	8.01%	8.71%	7.52%	6.08%	5.97%	6.71%	7.04%	7%
FCF margin (%)	-4.77%	3.98%	3.2%	-0.98%	5.67%	5.39%	4.38%	5.44%
FCF / Net Income (%)	-59.59%	45.66%	42.61%	-16.19%	94.97%	80.26%	62.17%	77.69%
Profitability
ROA	12.11%	14.74%	12.23%	9.02%	9.78%	14.05%	15.5%	15.9%
ROE	25.76%	31.2%	26.8%	21.33%	24.83%	28.31%	27.96%	26.37%
Financial Health
Leverage (Debt/EBITDA)	1.69x	1.03x	2.36x	2.78x	2.73x	0.39x	0.1x	-
Debt / Free cash flow	-4.27x	3.22x	7.85x	-27.23x	4.54x	0.76x	0.25x	-
Capital Intensity
CAPEX / Current Assets (%)	0.64%	0.75%	1.1%	0.67%	0.6%	0.92%	0.88%	0.72%
CAPEX / EBITDA (%)	5.28%	6.04%	10.35%	6.99%	6.41%	8.74%	8.07%	6.5%
CAPEX / FCF (%)	-13.32%	18.92%	34.44%	-68.52%	10.64%	17.11%	20.07%	13.21%
Items per share
Cash flow per share ¹	-12.69	20.39	22.87	-1.916	54.81	73.3	85.6	99.16
Change	-	260.7%	12.16%	-108.38%	2,961.11%	33.75%	16.77%	15.85%
Dividend per Share ¹	7.5	10	11	11	15	15.54	18.12	24.48
Change	-	33.33%	10%	0%	36.36%	3.6%	16.61%	35.08%
Book Value Per Share ¹	105.3	134.8	162.9	188.9	230.8	269.5	337.5	412.3
Change	-	27.96%	20.85%	15.98%	22.19%	16.75%	25.26%	22.16%
EPS ¹	24.56	37.54	39.92	37.58	52.16	67.76	83.98	103.6
Change	-	52.85%	6.34%	-5.86%	38.8%	29.91%	23.94%	23.31%
Nbr of stocks (in thousands)	8,87,786	8,87,786	8,87,786	8,87,786	8,87,786	8,87,786	8,87,786	8,87,786
Announcement Date	03/05/22	03/05/23	03/05/24	08/05/25	08/05/26	-	-	-