Company Valuation: Titan Company Limited

Data adjusted to current consolidation scope
Fiscal Period: March 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 13,82,638 22,51,559 22,32,871 33,77,804 27,19,999 36,71,173 - -
Change - 62.85% -0.83% 51.28% -19.47% 34.97% - -
Enterprise Value (EV) 1 13,89,058 23,06,969 22,81,931 34,96,364 28,67,019 37,67,501 37,23,404 36,99,302
Change - 66.08% -1.09% 53.22% -18% 31.41% -1.17% -0.65%
P/E ratio 158x 103x 67x 95.3x 81.5x 75.8x 61.3x 50.3x
PBR 18.4x 24.1x 18.7x 23.4x 16.2x 17.7x 15.6x 12.4x
PEG - 1x 1.3x 15.03x -13.9x 2x 2.7x 2.3x
Capitalization / Revenue 6.71x 8.27x 5.83x 7.17x 4.96x 4.52x 4.16x 3.57x
EV / Revenue 6.74x 8.48x 5.96x 7.42x 5.23x 5.22x 4.22x 3.6x
EV / EBITDA 81.7x 70.4x 47.8x 69.6x 54.2x 49.3x 40.3x 33.4x
EV / EBIT 101x 78.7x 51.8x 76.4x 60.3x 53.5x 43.6x 36x
EV / FCF 34.8x -178x 150x 232x -531x 183x 91.4x 93.1x
FCF Yield 2.87% -0.56% 0.67% 0.43% -0.19% 0.55% 1.09% 1.07%
Dividend per Share 2 4 7.5 10 11 11 14.64 16.97 19.89
Rate of return 0.26% 0.3% 0.4% 0.29% 0.36% 0.35% 0.41% 0.48%
EPS 2 9.88 24.56 37.54 39.92 37.58 52.16 67.46 82.25
Distribution rate 40.5% 30.5% 26.6% 27.6% 29.3% 26.5% 25.2% 24.2%
Net sales 1 2,06,020 2,72,100 3,82,700 4,71,140 5,48,420 7,75,540 8,82,018 10,26,917
EBITDA 1 17,010 32,790 47,700 50,240 52,920 73,030 92,358 1,10,610
EBIT 1 13,700 29,320 44,060 45,770 47,550 67,070 85,388 1,02,685
Net income 1 8,770 21,800 33,330 35,440 33,350 46,300 59,949 73,091
Net Debt 1 6,420 55,410 49,060 1,18,560 1,47,020 96,328 52,231 28,128
Reference price 2 1,557.40 2,536.15 2,515.10 3,804.75 3,063.80 4,135.20 4,135.20 4,135.20
Nbr of stocks (in thousands) 8,87,786 8,87,786 8,87,786 8,87,786 8,87,786 8,87,786 - -
Announcement Date 29/04/21 03/05/22 03/05/23 03/05/24 08/05/25 08/05/26 - -
1INR in Million2INR
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
74.98x5.22x49.26x0.35% 3.84TCr
27.58x4.12x14.89x1.96% 12TCr
12.83x1.3x6.78x6.35% 1.42TCr
10.52x2.07x7.71x6.62% 1.32TCr
8.65x1.51x5.05x3.91% 569.14Cr
12.77x0.22x3.56x4.68% 242.59Cr
11.15x1.33x6.93x7.78% 204.61Cr
10.89x - - 5.47% 197.16Cr
65.45x - - 1.42% 183.41Cr
Average 26.09x 2.25x 13.45x 4.28% 2.19TCr
Weighted average by Cap. 33.89x 3.84x 20.11x 2.46%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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