Titan Company Limited has informed the Exchange about Investor Presentation
SEC 76 / 2023-24
2nd August 2023
The General Manager, DCS – CRD BSE Limited Corporate Relationship Department 1st Floor, New Trading Ring Rotunda Building, P J Towers Dalal Street, Fort, MUMBAI - 400 001 Scrip Code: 500114
Dear Sirs,
The General Manager, DCS – CRD National Stock Exchange of India Ltd Exchange Plaza, Bandra-Kurla Complex, Bandra (East), MUMBAI - 400 051 Symbol: TITAN
Sub: First quarter earnings presentation for FY 2023-24
Further to our communication dated on 13th July 2023, attached is a copy of the Earnings Presentation for the first quarter ended 30th June 2023, as required under Regulation 30 of SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015.
Kindly take the same on record and acknowledge receipt.
Yours truly, For TITAN COMPANY LIMITED
Dinesh Shetty General Counsel & Company Secretary
Encl. As stated
Titan Company Limited `INTEGRITY` #193 Veerasandra Electronics City P.O. Off Hosur Main Road, Bangalore 560100 India. Tel: 9180 6704 7000 Fax: 9180 6704 6262 Registered Office 3, Sipcot Industrial Complex Hosur 635 126 TN India. Tel-91 4344 664 199 Fax 91 4344 276037, CIN: L74999TZ1984PLC001456 www.titancompany.in
Titan Company Limited
Earnings Presentation for the Quarter ended June 30, 2023
1
Disclaimer
This document, prepared by Titan Company Limited (the “Company”/”we”/”our”/”Titan”), is solely for information purposes and does not constitute any offer, invitation, recommendation, invitation to purchase or subscribe to any of Titan’s securities, and shall not form the basis of or be relied on in connection with any contract or binding commitment whatsoever.
Certain statements are included in this release containing words or phrases such as “will,” “aim,” “will likely result,” “believe,” “expect,” “will continue,” “anticipate,” “estimate,” “intend,” “plan,” “contemplate,” “seek to,” “future,” “objective,” “goal,” “project,” “should,” “will pursue” and similar expressions or variations of these expressions, that are “forward-looking statements”. Actual results may differ materially from those suggested by these forward-looking statements due to certain risks or uncertainties associated with our expectations with respect to, but not limited to, our ability to implement our strategy successfully, the market acceptance of and demand for our products, our growth and expansion, the adequacy of our allowance for credit to franchisees, dealers and distributors, technological changes, volatility in income, cash flow projections and our exposure to market and operational risks. By their nature, certain market risk disclosures are only estimates and could be materially different from what may actually occur in the future. As a result, actual future gains, losses or impact on net income could materially differ from those that have been estimated.
In addition, other factors that could cause actual results to differ materially estimates in the forward-looking statements include, but are not limited to, general economic and geo-political conditions in India and the other countries that have an impact on our business activities; inflation, unanticipated variance in interest rates, foreign exchange rates, the prices of raw material including gold and diamonds, or other rates or prices, changes in Indian and foreign laws and regulations, Acts of God, acts of terrorism, acts of war and pandemics, tax and accounting regulations, and changes in competition and the pricing environment in India. The Company may, from time to time make additional written and oral forward-looking statements, including statements contained in the Company’s filings with SEBI and the Stock Exchanges and in our reports to shareholders. The Company does not undertake to update any forward-looking statements that may be made from time to time by or on behalf of the Company, to reflect events or circumstances after the date thereof.
2
Agenda
1. Company Overview About Titan | Titan Journey | Titan at a Glance | Our Business Segments | Lifestyle Brands
2. Company Performance Total Income | EBIT
3. Business Performance Jewellery | Watches & Wearables | EyeCare | Emerging Businesses | Key Subsidiaries
4. Retail Network Jewellery | Watches & Wearables | EyeCare | Taneira | Retail Sales Growth
5. Financial Performance Statement of Profit and Loss | Total Income and EBIT | Capital Employed | Financial Trends
6. Other Updates Dividend | Shareholding Information | Awards & Recognition | Sustainability at Titan
3
Company Overview
About Titan Titan Journey Titan at a Glance Our Business Segments Lifestyle Brands
4
Our Vision We create elevating experiences for the people we touch and significantly impact the world we work in
Our Mission We will do this through a pioneering spirit and a caring, innovation, drives value-driven culture that performance and ensures the highest global standards in everything we do
fosters
India’s most prestigious lifestyle products company
5
Titan Journey
Crossed the 1mn watches milestone
1989
Dissolution of partnership with Timex and Launch of
1998
Launch of
2008
Company incorporated, JV between the Tata group and Tamilnadu Industrial Development Corporation
1984
State-of-the-art Jewellery making facility inaugurated
1994
and Precision Engineering (PED)
2005
2011
1,000 stores milestone
2015
Launch of
2022
demerged PED to wholly- owned subsidiary
and merged Gold Plus with Tanishq
2017
1987
1996
2007
Commenced watch production, Launch of
and opened the first showroom in Bangalore
1992
Joint venture with Timex
Company updates
Brand/ Channel launches
Acquisitions / Joint Ventures
and Golden Harvest Scheme
2003 Launch of
2009
2016
Acquisition of
2023
Crossed the 15mn watches milestone
6
2013
Launch of
and Titan E-commerce
2020
Acqui-hire of HUG Innovations
Titan at a Glance
₹ 406 bn TTM Total Income (1)
₹ 2,707 bn Market Capitalization (2)
2,778
Stores
3.57 mn+
Retail Area sq ft
~10.7k
Employees on roll
10
Manufacturing and Assembly Facilities
28 mn+
Encircle Members
411
Town Presence
Note: 1. Total Income excludes bullion sales 2. Market Capitalization as of June 30, 2023 3. All numbers are on a consolidated basis
7
Our Business Segments
Jewellery
Watches & Wearables
EyeCare
Fragrances
Fashion Accessories
Indian Dress Wear
8
Jewellery
India’s Leading Organised Jewellery Retailer
2 Manufacturing facilities in Hosur & Pantnagar
Leveraging technology in manufacturing
4 state of the art Karigar Centers
~7%
Jewellery Market Share1
~17%
Digitally influenced Sales in Q1FY24
792
Exclusive Brand Outlets
258
Town Presence Pan-India
40%+
Sales through Gold Exchange Programme
14
New Campaigns / Collections in Q1FY24
1. Market share as a % of Total Indian Jewellery market based on internal estimates 2. All figures are on a consolidated basis
99
Watches & Wearables
India’s Leading Watches Company
1,031
Exclusive Brand Outlets
8,000+
Multi-brand Outlets
2 Manufacturing facilities in Hosur and Coimbatore
314
Town Presence Pan-India
27
New Campaigns / Collections in Q1FY24
3 Assembly facilities in Roorkee, Pantnagar and Sikkim
1010
EyeCare
India’s Most Trusted Optical Chain
908
Exclusive Brand Outlets
357
Town Presence Pan-India
Manufacturing facility at Chikkaballapur
4.9
Google Store Ratings (5 Lakh+ Reviews)
7
New Campaigns / Collections in Q1FY24
2 Lens Lab facilities at Noida and Kolkata
1111
Fragrances
India’s Leading Fine Fragrances Brand
Presence in
700+
Titan World and Fastrack outlets
SKINN ranked
#1
in Departmental Chains1
2,200+
Multi-brand Outlets
SKUs
SKINN - 58 Fastrack - 9
1. Based on internal sales data from retail chains
1212
Fashion Accessories
Thoughtfully Designed Bags
Presence in
50+
Available in
80
Shoppers Stop outlets
Departmental Stores
Online Presence Tata CLiQ, Nykaa, Myntra and irth.in
Online Presence Tata CLiQ, Nykaa, Myntra, Flipkart and Amazon
1313
Indian Dress Wear
Finest range of pure handcrafted weaves from across the country
47
Exclusive Brand Outlets
25
Town Presence Pan-India
100+ Clusters1
3
New Campaigns / Collections in Q1FY24
Weavershala initiative by is an Taneira towards supporting weavers with and improving their working conditions
expertise
technical
1. Clusters represent regions of India with distinct traditional handloom weaving practices
1414
Lifestyle Brands
Luxury
Premium
Mid-Market
Mass Market
15
Company Performance
Standalone Total Income Standalone EBIT Consolidated Total Income Consolidated EBIT
16
Q1FY24 Standalone Total Income Highlights
88%
9%
2%
1%
Segment1,5
Jewellery3
Total Income
YoY Growth%
9,070
19.3%
Watches & Wearables
890
13.4%
EyeCare
203
11.1%
Emerging Businesses4
76
36.8%
Total2,3
10,306
19.2%
9,070
7,600
785
890
183
203
76
8,649
10,306
56
Q1FY23
Q1FY24
Q1FY23
Q1FY24
Q1FY23
Q1FY24
Q1FY23
Q1FY24
Q1FY23
Q1FY24
Note: 1. Figures in ₹ Crores, unless stated otherwise 2. Total figures include Corporate segment 3. 4. Emerging Businesses include Fragrances and Fashion Accessories, Indian Dress Wear 5. Total Income from International Business is included in the respective divisions
Jewellery and Total figures exclude bullion sales of ₹938 cr and ₹356 cr in Q1FY24 and Q1FY23 respectively
17
Q1FY24 Standalone EBIT Highlights
13.5%
11.0%
1,027
999
13.0%
10.7%
1,121
1,103
13.1% 11.5%
103
102
19.8% 17.2%
36
35
(18.9)% (35.5)%
(10)
(27)
Q1FY23 Q1FY24 Q1FY23 Q1FY24 Q1FY23 Q1FY24
Q1FY23 Q1FY24 Q1FY23 Q1FY24
Jewellery
Watches & Wearables
EyeCare
Emerging Businesses
Standalone
Note: 1. Figures in ₹ Crores, unless stated otherwise 2. Total figures include Corporate segment 3. Emerging Businesses include Fragrances and Fashion Accessories, Indian Dress Wear 4. EBIT includes Other Income 5. EBIT from International Business is included in the respective divisions
18
Q1FY24 Consolidated Total Income Highlights
89%
8%
2%
1%
Segment1,5
Jewellery3
Total Income
YoY Growth%
9,755
22.0%
Watches & Wearables
913
16.2%
EyeCare
Other Businesses4
203
11.1%
137
(5.3)%
Total2,3
11,070
21.2%
9,755
7,995
913
786
183
203
144
137
9,131
11,070
Q1FY23
Q1FY24
Q1FY23
Q1FY24
Q1FY23
Q1FY24
Q1FY23
Q1FY24
Q1FY23
Q1FY24
Note: 1. Figures in ₹ Crores, unless stated otherwise 2. Total figures include Corporate segment 3. 4. Other Businesses include Emerging Business Divisions of Fragrances and Fashion Accessories, Indian Dress Wear and the Subsidiaries TEAL and TCTL 5. Total Income from International Business is included in the respective divisions
Jewellery and Total figures exclude bullion sales of ₹941 cr and ₹356 cr in Q1FY24 and Q1FY23 respectively
19
Q1FY24 Consolidated EBIT Highlights
13.2%
10.5%
1,052
1,022
12.5%
10.0%
1,137
1,111
12.5%
11.1%
98
101
19.8%
17.2%
36
35
(11.1)% (26.9)%
(16)
(37)
Q1FY23 Q1FY24 Q1FY23 Q1FY24 Q1FY23 Q1FY24
Q1FY23 Q1FY24 Q1FY23 Q1FY24
Jewellery
Watches & Wearables
EyeCare
Other Businesses
Total
Note: 1. Figures in ₹ Crores, unless stated otherwise 2. Total figures include Corporate segment 3. Other Businesses include Emerging Business Divisions of Fragrances and Fashion Accessories, Indian Dress Wear and the Subsidiaries TEAL and TCTL 4. EBIT includes Other Income 5. EBIT from International Business is included in the respective divisions
20
Business Performance
Jewellery Watches & Wearables EyeCare Emerging Businesses Key Subsidiaries
21
Jewellery
Performance Highlights Marketing Campaigns Standalone Quarterly Performance Trends
22
Jewellery Performance Highlights
•
Total Income of ₹9,070 cr grew 19.3% YoY with domestic operations growing ~20% YoY to ₹8,931 cr
• Buyer growth was ~14% YoY and average spends per buyer increased by ~6%
YoY. New buyer proportion at ~46% continued to be healthy
• Wedding segment growth was robust at ~26% YoY contributing ~20% to the total
Revenue
•
Studded product mix was largely unchanged YoY
• Amidst a volatile high gold rate environment and a rural wedding season, the gold
exchange program was dialed up to solve for consumer uncertainty
•
•
EBIT came at ₹999 cr at a 11.0% margin. It is lower than Q1FY23 due to:
a. one-time diamond price inventory gains in the base quarter, now normalized investments in growth: through aggressive exchange offer, brand building b. initiatives and a planned gold rate mark-up rationalization program to gain market share
In new store expansions (net) for the quarter, the GCC region saw a Tanishq addition in Sharjah. In India, Division added 9 stores in Tanishq and 8 stores in Mia by Tanishq. Tanishq’s international presence now covers 7 stores in GCC region and 1 store in USA
Note: 1. Total Income excludes bullion sale bullion sales of ₹938 cr and ₹356 cr in Q1FY24 and Q1FY23 respectively 2. All operational metrics stated above are for domestic standalone Jewellery business
₹9,070 cr Total Income
₹999 cr EBIT
19.3% YoY Growth
11.0% EBIT Margin
Distribution of key categories as % of Jewellery sales
Q1FY23
Q1FY24
26%
26%
74%
74%
Studded
Gold, Coins, and Others
23
Glimpses of Tanishq’s Celeste X Sachin Tendulkar Campaign
Tanishq Celeste X Sachin Tendulkar
Tanishq has always celebrated diamonds that transcend the material value-standing
for more emotional connotations. For building the desire and aspiration for Celeste
solitaires, Tanishq has on boarded Sachin Tendulkar as the face of this collection.
To celebrate a decade of his 100th century and his 50th birthday, Tanishq launched a
collection of 100 exclusive limited-edition Celeste solitaires
Video hyperlinks embedded for the above campaign
24
Glimpses of Tanishq’s New Collections and Campaigns
Video hyperlinks embedded for the above campaign
25
The dawn of Akshay Tritiya brings with it new hope and a promise of abundance, to a world yet to awake
The "Stunning Every Ear" campaign captured this sentiment, placing earrings at the forefront as the hero
Tanishq demonstrated its category dominance by showcasing a wide variety of modern, stylish, and elegant earrings for the Tanishq women
Glimpses of Tanishq’s New Collections and Campaigns
Impressions of Nature
Collection targeted towards new diamonds buyers and upgraders – affordable pricing with international styling
Dibyani – An Ode to the Cultural Heritage of Odisha
Inspired by the culture of Odisha, Handcrafted for the women of Odisha
There is an innate sense of pride in the Odia community about their culture, heritage
and art. Even though there are diverse classes, castes and tribes in the state, they
identify themselves as ‘One Odia community’. They are strong believers of
togetherness
Tanishq through this collection celebrates the culture of Odisha
Video hyperlinks embedded for the ‘Dibyani’ campaign
26
Glimpses of Tanishq’s Chozha Collection
Video hyperlinks embedded for the above campaign
27
Glimpses of Tanishq’s New Collections and Campaigns
Exchange Campaign
Tanishq exchange is a strategic campaign of building awareness of Tanishq
Exchange Program while stirring a wave of participation. Indians find comfort in
the ‘tried & tested by others’ approach,
the idea is to nudge those who are
already in the market for exchange to consider Tanishq as their preferred
choice
Vardhini
Today, women are yearning to carve an
identity for themselves - they are more
than someone's wife, mother or sister. They are becoming the creators of their
own narrative. The Ugadi film is a tribute to all such women who prosper & thrive
in all their might while standing apart
with their extraordinary beliefs
Website/ Video hyperlinks embedded for the above campaigns
28
Glimpses of Zoya’s My Promise Collection
In the flush of love’s light,
she knows one thing: it is her soul
that lets her be who she is: treasured, pure and unsullied.
On this day, that will be forever hers, she is not becoming whole, she
already is, and joyfully shares her all in this union.
It’s her unwavering vow to stay true to herself as she celebrates this
sparkling milestone to the infinite
wonders of her heart
Video hyperlinks embedded for the above campaign
29
Glimpses of Mia’s New Collections
Introducing Evil Eye Collection, where style meets positive vibes! This collection showcases the perfect blend of trend and spiritual significance
30
Jewellery Standalone Quarterly Performance Trends
Total Income and YoY Growth%
70%
6,397
6,249
5,409
3,528
3,754
3,446
11%
1,182
FY20: 16,738; 4.4%
-5.8%
16%
FY21: 17,274; 3.2%
-2.3%
77%
6,106
8,563
37%
2,467
FY22: 23,268; 35%
6,132
-4.2%
9,518
9,070
7,600
7,203
7,576
FY23: 31,897; 37%
18%
11%
24%
19%
3,572
3,582
29%
4,890 37%
5.7%
FY19: 16,030; 23%
3,986
4,047
21%
13%
Q1'19
Q2'19
Q3'19
Q4'19
Q1'20
-1.5% Q2'20
Q3'20
Q4'20
Q1'21
Q2'21
Q3'21
Q4'21
Q1'22
Q2'22
Q3'22
Q4'22
Q1'23
Q2'23
Q3'23
Q4'23
Q1'24
22% 22% 31% 25% 24% 21% 32% 23% 7% 20%
36% 37% 11% 26% 37% 26% 24% 22% 30% 24%
13.3%
651
12.8%
512
11.0%
10.9%
393
392
10.9%
10.9%
442
384
13.0% 701
14.2%
534
FY19: 12.2%
FY20: 12.3%
EBIT and EBIT Margin
752 12.0%
703
11.0%
8.3% 285
FY21: 9.8%
(54)
1,260
14.7%
13.0%
793
12.7% 780
1,103
1,236
15.3%
1,027 13.5%
997 13.2%
13.0%
999
11.0%
8.4%
207
FY22: 13.1%
FY23: 13.7%
Q1'19
Q2'19
Q3'19
Q4'19
Note: 1. Figures in ₹ Crores, unless stated otherwise 2. Total Income excludes bullion sale
Q1'20
Q2'20
Q3'20
Q4'20
Q1'21
Q2'21
Q3'21
Q4'21
Q1'22
Q2'22
Q3'22
Q4'22
Q1'23
Q2'23
Q3'23
Q4'23
Q1'24
31
Watches & Wearables
Performance Highlights Marketing Campaigns Standalone Quarterly Performance Trends
32
Watches & Wearables Performance Highlights
•
Income of ₹890 cr grew 13.4% YoY comprising primarily of domestic
Total operations at ₹876 cr that grew ~15% YoY
• Analog watches sub-segment grew at ~8% YoY whereas the Wearables sub-
segment powered overall growth for the Division increasing by ~81% YoY
•
•
Premiumization theme was at the fore again with Titan and International brands seeing strong buying momentum clocking handsome YoY growths of ~17% and ~38% respectively. Both together continued to improve their market share in the analog portfolio contributing ~60% of the total sales in the quarter
In Wearables, the Fastrack brand grew the fastest contributing a lion’s share in that portfolio. Titan Smart launched an exciting new line of products titled ‘Evoke’ providing a refreshing take on ‘Function meets Fashion’
• Amongst key channels, E-commerce, LFS and Helios clocked double-digit growths
YoY, higher than the Division
•
EBIT came in at ₹102 cr clocking margin of 11.5%
• Division added 14 new stores in Titan World, 9 in Helios and 3 stores in Fastrack in
the quarter
₹890 cr Total Income
₹102 cr EBIT
13.4% YoY Growth
11.5% EBIT Margin
Distribution of Wearables as % of Watches & Wearables sales
Wearables
Analog
14%
9%
Q1FY23
Q1FY24
33
Glimpses of Titan’s New Collections
Titan Modern Classics
A stunning collection of elegant classic timepieces featuring domed glass, a minimalist dial design and tone-in-tone subdials,
in beautiful plating colors with mesh strap
Titan Techno Beats
A unique collection that blends the pulsating rhythms of electronic music with cutting-edge fashion. This collection has two variants in two different cases
Titan Classic Chrono - an exquisite collection of timeless classic timepieces, driven by a precise Japanese-made 1/10th sec Chronograph caliber for an unmatched blend of style and functionality
Titan Distincta
This exquisite collection features an elegantly profiled crown adding a touch of regality to each watch. The indices on the dial are skillfully made through precision dial cutouts, offering a visually captivating effect and showcasing the meticulous craftsmanship that goes into creating each watch
34
Glimpses of Raga’s New Campaign
In April 2023, Titan's Raga, a renowned brand celebrated for its intricate collection of timepieces and narratives revolving around women's individuality and uniqueness, unveiled its latest campaign, "Love Yourself Boldly"
The campaign is headlined by the dynamic Bollywood actor, Alia Bhatt, who encourages women to express themselves freely and authentically. The campaign represents a fashionable and fiercely independent woman. She discusses societal judgments and challenges women to rise above them, endorsing Titan Raga as a modern, artistic, and impartial companion. The inclusion of the classic Titan tune enriches the message, adding a memorable element to the campaign
Video hyperlinks embedded for the above campaign
35
Glimpses of Fastrack’s Automatics Collection
Fastrack’s first ever range of Automatics! Uniquely designed watches for both guys & girls
Video hyperlinks embedded for the above campaign
36
Glimpses of Fastrack’s New Collections
Kronos
A modern interpretation of chronographs with a very unique dial avatar
Snob X
A retro inspired collection comprising of all new case designs in stylish color combinations
Stunners 6
A stunning range of fashionable watches at very affordable prices
Streetline 3.0
A stunning range of Ana-Digi watches for girls
Tees BTS
Getting back to school with these stylish watches
Exuberant 2
Multifunction watches for guys in a bigger case, detailed layered dials & a distinct crown position
37
Glimpses of Sonata’s New Collections and Campaigns
SF Sporty Analogs
Modernizing the Wedding collection
38
Glimpses of International Brand’s New Collections and Campaigns
Cerruti 1881 Enters the Indian market
Samantha Prabhu X Tommy Hilfiger
Video hyperlink embedded for the ‘Samantha Prabhu X Tommy Hilfiger’ campaign
39
Product launches specially tailored for the wedding season
Glimpse of Titan Evoke
40
Ranveer Singh as Fastrack Smart’s Brand Ambassador
Video hyperlinks embedded for above campaign
41
Glimpses of Fastrack Smart’s Brand Campaign #FollowYourself
Ranveer Singh has been on-boarded as the Brand Ambassador for Fastrack Smart for 2 years
Fastrack Smart launched its first brand campaign on 3rd July with a new brand logo and an overarching positioning centered on the notion that the youth has full control over their lives. The campaign line, "Follow Yourself,“ encapsulates this philosophy very well
With Ranveer headlining this campaign and with our shared exuberance and fearless fashion approach, this partnership brings in a new level of Dynamism for Fastrack Smart
Video hyperlinks embedded for above campaign
42
Glimpses of Fastrack’s Smart Launches
Video hyperlinks embedded for select launches
43
Watches & Wearables Standalone Quarterly Performance Trends
676
17%
641
19%
594
15%
FY19: 2,441; 15%
715
719
625
531
7.5%
20%
557
4.9%
6.4%
-2.4%
FY20: 2,615; 7.2%
Total Income and YoY Growth%
72%
687
708
29%
622
12%
785
829
811
871
890
40%
21%
15%
13%
FY23: 3,296; 43%
550
555
400
-0.3%
-12%
292
75
-44%
FY21: 1,580; (40)%
FY22: 2,309; 46%
Q1'19
Q2'19
Q3'19
Q4'19
Q1'20
Q2'20
Q3'20
Q4'20
Q1'21
Q2'21
Q3'21
Q4'21
Q1'22
Q2'22
Q3'22
Q4'22
Q1'23
Q2'23
Q3'23
Q4'23
Q1'24
24% 28% 26% 22% 27% 27% 24% 22% 5% 25%
35% 35% 12% 30% 31% 27% 24% 25% 25% 26%
111
18.8%
122 18.0%
128
17.9%
113
15.8%
72
13.0%
52 8.3%
54
8.5%
29 5.5%
EBIT and EBIT Margin
57 10.3%
46 8.3%
FY19: 13.0%
FY20: 14.0%
-0.9% (4)
92
13.5%
82
11.6%
123
14.8%
103
13.1%
89
98
102
11.0%
11.3%
11.5%
16
2.6%
FY23: 12.5%
(56)
FY22: 5.8%
FY21: (4.1)%
(164)
Q1'19
Q2'19
Q3'19
Q4'19
Q1'20
Q2'20
Q3'20
Q4'20
Q1'21
Q2'21
Q3'21
Q4'21
Q1'22
Q2'22
Q3'22
Q4'22
Q1'23
Q2'23
Q3'23
Q4'23
Q1'24
Note: Figures in ₹ Crores, unless stated otherwise
44
EyeCare
Performance Highlights Marketing Campaigns Standalone Quarterly Performance Trends
45
EyeCare Performance Highlights
•
Total Income grew by 11.1% YoY to clock ₹203 cr in Q1FY24
• House brands grew marginally lower
than the overall Division whereas
International brands grew faster at ~17% YoY. The mix however continued to be
predominated by House Brands having ~70%+ share in the portfolio
• Amongst categories, Revenues from Sunglasses and Lens grew ~13% YoY and
growth in Frames was ~5% YoY
• Within channels, Titan Eye+ clocked growth in high single digits YoY, and sales
from Trade channel grew at ~25% YoY
• Growth was primarily price driven with average selling price increasing by ~8%
YoY and volume growth at ~3% YoY
•
EBIT came in at ₹35 cr clocking a margin of 17.2%
• Division added 5 new stores in Titan Eye+ (net) whereas Fastrack stores expanded its metro presence by adding a store each in Delhi and Chennai in the
quarter
₹203 cr Total Income
11.1% YoY Growth
₹35 cr EBIT
17.2% EBIT Margin
46
Fastrack Summer Vibes Sunglasses
Glimpses of EyeCare’s New Collections
Fastrack Younique Frames & Sunglasses
Metaverse inspired collection with sleek futuristic designs
Titan Super Size
Trendy acetate frames in bigger sizes
Size 53 and 55
Streetline 3.0
A stunning range of Ana-Digi watches for girls
Fastrack Wired Sunglasses
Metal Sunglasses with polarized lenses made in frame factory
Best Bet Shades Fastrack
Collection of proven SKUs in new colours
47
EyeCare Standalone Quarterly Performance Trends
Total Income and YoY Growth%
132
120
129
128
149
154
133
108
124
127
94
160
156
134
70%
173%
183
203
167
174
165
40%
16%
19%
18%
13%
FY19: 509; 23%
28%
2.9%
FY20: 544; 6.9%
-16%
30
-7.0%
FY21: 375; (31)%
-39%
67
18%
26%
5.1%
FY22: 517; 38%
FY23: 689; 33%
4.9%
11%
23%
11%
Q1'19
Q2'19
Q3'19
Q4'19
Q1'20
Q2'20
Q3'20
Q4'20
Q1'21
Q2'21
Q3'21
Q4'21
Q1'22
Q2'22
Q3'22
Q4'22
Q1'23
Q2'23
Q3'23
Q4'23
Q1'24
26% 24% 25% 25% 27% 28% 25% 20% 8% 25%
33% 34% 13% 31% 30% 26% 27% 24% 25% 24%
2 1.3%
1 0.4%
-0.1% (0)
-3.5% (4)
2 1.3%
2 1.7%
-7.7% (11)
-5.0% (7)
FY19: (0.5)%
FY20: (2.6)%
(31)
EBIT and EBIT Margin
17.7%
18.1%
22
23
9.6%
9
FY21: 6.1%
37 22.9%
34 21.8%
36
19.8%
32
18.4%
28 16.5%
35
17.2%
(13)
FY22: 10.6%
-2.2% (3)
FY23: 14.2%
2 1.2%
Q1'19
Q2'19
Q3'19
Q4'19
Q1'20
Q2'20
Q3'20
Q4'20
Q1'21
Q2'21
Q3'21
Q4'21
Q1'22
Q2'22
Q3'22
Q4'22
Q1'23
Q2'23
Q3'23
Q4'23
Q1'24
Note: Figures in ₹ Crores, unless stated otherwise
48
Emerging Businesses
Performance Highlights Marketing Campaigns
49
Emerging Businesses Performance Highlights
₹76 cr Total Income
36.8% YoY Growth
₹(27) cr EBIT
(35.5)% EBIT Margin
•
•
•
•
Emerging Businesses comprising of Fragrances & Fashion Accessories (F&FA), and Indian Dress Wear (Taneira) clocked a growth
of 36.8% in Total Income YoY.
F&FA Revenues clocked ~12% growth YoY in which Fragrances grew by ~11% YoY and Fashion Accessories comprising primarily
of Women’s Bags under IRTH and Fastrack brands grew by ~14% YoY
IRTH brand expanded its offline presence to reach 51 doors in Shoppers Stop and increased online presence to include Myntra,
Nykaa Fashion and Tata Cliq in addition to irth.in. SKINN entered Specialty Retail through Tata Cliq Palette, Beauty & Beyond.
Taneira’s Revenues grew by 81% YoY. The brand opened 6 new stores during the quarter of which 3 stores were in new cities of
Vijayawada, Agra and Berhampur and balance 3 stores in existing cities of Mumbai, Hyderabad and Lucknow. Taneira’s presence
now covers 47 stores spread across 25 cities pan-India
• During the quarter, Taneira did it first ever TV campaign on Summer Weddings featuring actress Mrunal Thakur. The Summer
Sorbet collection of Breezy Lightweight Sarees, crafted using pure fabrics, were promoted actively on digital platforms
•
Following the success of the Kolkata Saree Run, the Pune Saree Run was held at a grander scale and witnessed participation
from over 4,500 enthusiastic women. The brand also ran successful heartwarming campaigns on Mother's Day and
International Yoga Day celebrating women breaking barriers and empowering themselves through captivating stories
50
Glimpses of SKINN’s Campaign for Noura
Video hyperlinks embedded for the above campaign
51
Glimpses of Fashion Accessories Launches
LAUNCH OF SPRING SUMMER’23 DROP 2
Launch of Ecommerce Line Collection of 57 bags and wallets launched in economy price points with 95% of the collection priced under INR 999
52
Glimpses of Taneira’s Summer Wedding Campaign with Mrunal Thakur
Summer Wedding Campaign
the
quarter,
During Taneira elevated the joy of wedding celebrations with a high-impact Summer Wedding Campaign - first time on TV Featuring the elegant and graceful actress, Mrunal Thakur, the brand unveiled of exquisite Lightweight Celebration Sarees, designed to adorn brides and all the friends and family of the bride and the groom
collection
the
Video hyperlinks embedded for the above campaign
53
Glimpses of Taneira’s Summer Sorbet Collection
Video hyperlinks embedded for the above campaign
54
Glimpses of Taneira Saree Run and International Yoga Day Campaign
Following the success of the Kolkata Saree Run, the Taneira Saree Run Pune was held on a much grander scale and witnessed over 4,500 enthusiastic women participating in the event, celebrating saree culture and women's health
Video hyperlinks embedded for the ‘Taneira Saree Run’ event
Real Women, Real Inspiration
On International Yoga Day, Taneira celebrated women practicing yoga in sarees, breaking barriers and empowering themselves through captivating stories
55
Glimpses of Mother’s Day Campaign with Sameera Reddy
On Mother's Day, Taneira's heartwarming campaign featured Sameera Reddy and influencers styling their mother figures in Taneira sarees, resonating with the audience
56
Titan Company Limited
Titan Company Limited Subsidiaries
100%
72.3%
100%
100%
100%
100%
Titan Engineering & Automation Limited (TEAL)
CaratLane Trading Private Limited
100%
TEAL USA Inc.
100%
TCL North America Inc
Minority stake
Great Heights Inc.
StudioC Inc., USA
TCL Watches Switzerland AG (formerly Favre Leuba)
Titan Holdings International FZCO, Dubai
Titan Commodity Trading Limited
100%
99.6%
100%
Titan Watch Company Limited, Hong Kong
Titan Global Retail LLC, Dubai
Titan International QFZ LLC, Qatar
57
Key Subsidiaries
CaratLane Titan Engineering & Automation Limited
58
CaratLane Trading Private Limited 72.3% Owned Subsidiary
•
Total Income grew by 32.4% YoY to ₹640 cr driven by gifting campaigns around
#FirstSalary and new collections in the first quarter
• Revenue from the key category of Studded grew at ~41% YoY. It continues to
contribute ~75% of the total business
•
EBIT came in at ₹35 cr with a margin of 5.5%
• Brand launched #FirstSalary campaign focused on expressing gratitude to loved
ones by gifting them diamond jewellery
₹640 cr Total Income
32.4% YoY Growth
• Minion X CaratLane was launched in Q1FY24 with exciting 20 designs as a perfect gifting solution for a new set of audiences comprising of kids, teens & tweens
₹35 cr EBIT
5.5% EBIT Margin
• Ada, a new collection was conceptualized, designed and created to celebrate the
unique and differentiated woman
• CaratLane added 11 new stores (net) in the quarter taking the total store count
to 233 stores spread across 93 cities pan-India
Note: Total Income excludes bullion sales of ₹3 cr in Q1FY24
59
Glimpses of CaratLane’s New Collections and Campaigns
Go bananas with CaratLane x Minions A collection especially for the little ones that is perfect for gifting
#FirstSalary campaign focused on expressing gratitude to those who support you in your journey, especially your Mom by gifting them diamond jewellery
Ada collection is conceptualized, designed and created to celebrate the woman who loves to be unique and stand out in a crowd of millions
60
Titan Engineering & Automation Limited Wholly Owned Subsidiary
•
Total Income at ₹61 cr was lower by 31.7% YoY
• Within Divisions, Automation Solutions (AS) division Revenues at ₹10.6 cr were lower by ~78% YoY whereas Manufacturing Services* (MS) division achieved Revenues of ₹47 cr growing by ~18% YoY
• Order booking in MS was robust with Aerospace industry witnessing an all-time high order bookings and passenger traffic reaching pre-Covid levels, both domestically and internationally. AS business too had a good order position of ₹500+ cr at the end of the quarter of which significant portion is planned for execution in FY24
•
EBIT for the quarter was ₹(11) cr with (18.6)% margin
₹61 cr Total Income
₹(11) cr EBIT
(31.7)% YoY Growth
(18.6)% EBIT Margin
* Earlier known as Aerospace and Defence division
61
Sun roof assembly line machine
HVCH assembly line
Motor assembly line
Retail Network
Jewellery Watches & Wearables EyeCare Taneira Retail Sales Growth
62
Jewellery Presence
Mar-23
Quarterly Additions
Stores
423
Area sq. ft.
1.7mn
Town Presence
251
Stores
Area sq. ft.
Town Presence
Stores
Area sq. ft.
Town Presence
Stores
Area sq. ft.
Town Presence
111
64K
43
7
24K
5
222
274K
88
10
51K
6
8
8K
2
-
-
-
11
19K
5
Jun-23
433*
1.8mn
257
119
72K
45
7
24K
5
233
293K
93
Note: *includes 7 stores in GCC, and 1 store in New Jersey, North America
63
Tanishq’s International Presence
Tanishq – New Jersey
Tanishq Abu Dhabi
Tanishq – Al Barsha
64
Watches & Wearables Presence
Exclusive Brand Outlets Presence
Multi Brand Outlets Presence
Mar-23
Quarterly Additions
Jun-23
Stores
Area sq. ft.
Town Presence
Stores
Area sq. ft.
Town Presence
Stores
Area sq. ft.
Town Presence
622
443K
306
198
144K
77
185
87K
85
14
10K
7
9
7K
1
3
2K
-
636
453K
313
207
151K
78
188
89K
85
8,000+ Multi Brand Retailers (MBR)
2,100+ MBR Town Presence
850+ Large Format Stores (LFS)
192 LFS Town Presence
65
EyeCare Presence
Mar-23
Quarterly Additions
Stores
Area sq. ft.
Town Presence
896*
554K
352
Stores
Area sq. ft.
Town Presence
5
5.8K
1
5
3K
5
2
1.8K
2
Jun-23
901*
557K
357
7
7.6K
3
Note: *includes 1 store in Dubai, GCC
66
Taneira Presence
Mar-23
Quarterly Additions
Stores
Area sq. ft.
Town Presence
41
115K
22
6
24K
3
Jun-23
47
139K
25
Lucknow - Gomti Nagar
Mumbai - Andheri
Vijayawada
67
Retail Sales (Secondary UCP) Growth
Q1FY24
Total
Like-to-Like
22%
22%
44%
8%
8%
2%
(4)%
(11)%
40%
20%
33%
13%
13%
3%
Watches LFS
Note: 1. Retail UCP (Uniform Consumer Price) growth captures secondary sales in Titan branded retail stores (including franchisees) and Large Format Stores; Whereas the reported revenue (net of
discounts, payouts & GST) comprises of secondary sales to consumers in L1 and L2 stores and primary sales to L3 stores, distribution partners and institutional clients
2. All growth numbers referred to are of Titan’s domestic retail business
68
Financial Performance
Statement of Profit and Loss Total Income and EBIT Capital Employed Financial Trends
69
Standalone Statement of Profit and Loss Highlights
Note: 1. Operating Revenue and Total Income excludes bullion sale of ₹938 cr and ₹356 cr in Q1FY24 and Q1FY23 respectively 2. Profitability & expense percentages are computed on Total Income excluding bullion sales
70
Particulars (in ₹ Crores)Q1FY23Q1FY24YoY%Operating Revenue8,60510,20718.6%Total Income8,64910,30619.2%EBITDA1,2081,202(0.5%)%14.0%11.7% (230) bpsEBIT1,1211,103(1.6%)%13.0%10.7% (226) bpsPAT793777(2.0%)%9.2%7.5% (163) bps Consolidated Statement of Profit and Loss Highlights
Note: 1. Operating Revenue and Total Income excludes bullion sale of ₹941 cr and ₹356 cr in Q1FY24 and Q1FY23 respectively 2. Profitability & Expense percentages are computed on Total Income excluding bullion sales
71
Particulars (in ₹ Crores)Q1FY23Q1FY24YoY%Operating Revenue9,08710,95620.6%Total Income9,13111,07021.2%EBITDA1,2401,239(0.0%)%13.6%11.2% (238) bpsEBIT1,1371,111(2.3%)%12.5%10.0% (242) bpsPAT790756(4.4%)%8.7%6.8% (183) bps Q1FY24 Total Income and EBIT
Note: 1. Emerging Businesses include Fragrances and Fashion Accessories, Indian Dress Wear 2. Others consist of Titan Subsidiaries excluding CaratLane and TEAL; Others in Total Income includes ₹3 cr of CaratLane bullion sales 3. EBIT margin is calculated on Total Income excluding bullion sale 4. Total Income and EBIT from International Business is included in the respective divisions
72
Total Income(in ₹ Crores)Q1FY23Q1FY24YoY%Jewellery7,6009,07019.3%Watches and Wearables78589013.4%EyeCare18320311.1%Emerging Businesses567636.8%Corporate2567165.3%Standalone (w/o bullion sale)8,64910,30619.2%Jewellery - Bullion sale356938Standalone9,00511,24424.9%Caratlane48364032.4%TEAL8961(31.7%)Others/ Consol. Adj. (2)(90)67Consolidated9,48712,01126.6%EBIT (in ₹ Crores)Q1FY23Q1FY24YoY%Jewellery1,027999(2.7%)Watches & Wearables103102(1%)EyeCare3635(3%)Emerging Businesses(10)(27)157%Corporate(35)(6)(82.7%)Standalone1,1211,103(1.6%)Caratlane34355%TEAL(5)(11)114.0%Others/ Consol. Adj. (2)(12)(16)Consolidated1,1371,111(2.3%)EBIT Margin (3)Q1FY23Q1FY24YoYJewellery13.5%11.0%(250) bpsWatches and Wearables13.1%11.5%(165) bpsEyeCare19.8%17.2%(260) bpsEmerging Businesses (1)(18.9%)(35.5%)N.M.Standalone13.0%10.7%(226) bpsConsolidated12.5%10.0%(242) bps Standalone Capital Employed
Note: 1. Emerging Businesses include Business Divisions of Fragrances and Fashion Accessories, Indian Dress Wear
73
Business Segment(in ₹ Crores)30-Jun-2230-Jun-2330-Jun-2230-Jun-2330-Jun-2230-Jun-23Jewellery12,49015,4968,9478,8973,5436,599Watches & Wearables2,4053,0899171,0181,4882,071EyeCare496667275397221270Emerging Businesses (1)257364122164134200Corporate (unallocated)5,0835,5013061,8634,7783,638Total20,73125,11710,56712,33910,16412,778Segment AssetsSegment LiabilitiesCapital Employed Consolidated Capital Employed
Note: 1. Other Businesses include Emerging Business Divisions of Fragrances and Fashion Accessories, Indian Dress Wear and the Subsidiaries TEAL and TCTL
74
Business Segment(in ₹ Crores)30-Jun-2230-Jun-2330-Jun-2230-Jun-2330-Jun-2230-Jun-23Jewellery13,90518,03310,01410,4373,8917,595Watches & Wearables2,4373,1289251,0431,5112,085EyeCare496670275399221271Other Businesses (1)7941,035319461475574Corporate (unallocated)4,3304,5723062,4344,0242,138Total21,96227,43811,83914,77410,12312,663Segment AssetsSegment LiabilitiesCapital Employed Consolidated Quarterly Performance Trends
Operating Income and YoY Growth%
5,871
35%
4,451
4,567
27%
8.5%
6,528
4,889
5,151
4,662
4,711
4,162
7,279
7,469
59%
19%
16%
2.1%
11%
-3.6%
1,378
12%
FY19: 19,779; 22%
FY20: 21,052; 6.4%
FY21: 20,288; (3.6)%
-11%
9,983
7,301 75%
7,421
3,049
37%
FY22: 27,754; 37%
-0.6%
11,294
10,956
9,087
8,681
9,305
FY23: 38.367; 38%
19%
13%
25%
21%
Q1'19
Q2'19
Q3'19
Q4'19
Q1'20
Q2'20
Q3'20
Q4'20
Q1'21
Q2'21
Q3'21
Q4'21
Q1'22
Q2'22
Q3'22
Q4'22
Q1'23
Q2'23
Q3'23
Q4'23
Q1'24
10.4%
467
10.1% 600
9.6%
439
10.0%
520
9.1% 452
FY19: 9.8%
9.9%
10.7%
509
9.1% 425
648
FY20: 9.9%
PBT and PBT Margin
741 10.1%
730 9.7%
217 FY21: 6.5% 5.2%
39
1.3%
-361
1,344
868
13.4%
11.8%
FY22: 10.6%
1,072 11.7%
707 9.4%
1,142
13.1%
1,245
988
1,002
10.9%
10.5%
FY23: 11.5%
9.1%
Q1'19
Note: Q2'19 Q4'19 1. Figures in ₹ Crores, unless stated otherwise 2. Operating Income excludes bullion sale and Other Income 3. PBT is before exceptional items; PBT% is computed on Total Income excluding bullion sales
Q3'19
Q1'20
Q1'21
Q3'20
Q2'20
Q4'20
Q2'21
Q3'21
Q4'21
Q1'22
Q2'22
Q3'22
Q4'22
Q1'23
Q2'23
Q3'23
Q4'23
Q1'24
75
Jewellery Consolidated Quarterly Performance Trends
Total Income and YoY Growth%
4,997
3,643
3,645
29%
37%
6.3%
5,606
6,496
6,653
4,105
4,164
3,650
3,899
3,592
71%
22%
14%
0.1%
12%
-5.0%
1,222
-1.6%
16%
6,379
78%
2,626
39%
FY22: 24,478; 36%
9,005
204%
6,468
7,995
10,131
9,755
7,515
8,065
FY23: 33,706; 38%
18%
13%
25%
22%
FY19: 16,390; 24%
FY20: 17,319; 5.7%
FY21: 17,963; 3.7%
-2.8%
Q1'19
Q2'19
Q3'19
Q4'19
Q1'20
Q2'20
Q3'20
Q4'20
Q1'21
Q2'21
Q3'21
Q4'21
Q1'22
Q2'22
Q3'22
Q4'22
Q1'23
Q2'23
Q3'23
Q4'23
Q1'24
22% 22% 31% 25% 24% 21% 32% 23% 7% 20%
36% 37% 11% 26% 37% 26% 24% 22% 30% 24%
12.9%
12.2%
10.5%
10.4%
647
10.5%
10.4%
384
378
499
438
379
12.6%
704
13.6%
530
EBIT and EBIT Margin
11.8%
766
10.8%
717
8.0%
286
7.5%
198
FY19: 11.6%
FY20: 11.8%
FY21: 9.5%
(68)
1,288
14.3%
12.6%
803
13.2%
1,052
12.1% 780
1,243
14.5%
1,088
12.3%
1,004 12.4%
1,022
10.5%
FY22: 12.5%
FY23: 13.0%
Q1'19
Q2'19
Q3'19
Q4'19
Note: 1. Figures in ₹ Crores, unless stated otherwise 2. Total Income excludes bullion sale
Q1'20
Q2'20
Q3'20
Q4'20
Q1'21
Q2'21
Q3'21
Q4'21
Q1'22
Q2'22
Q3'22
Q4'22
Q1'23
Q2'23
Q3'23
Q4'23
Q1'24
76
Annual Consolidated Performance Trends
Total Income and YoY Growth%
PBT and PBT Margin
PAT and PAT Margin
38,675 38%
37%
23%
19,961
21,204
20,474
27,988
6%
-3%
4,447
11.5%
10.6% 2,958
9.8%
9.9%
1,957
2,102
6.5% 1,327
7.0%
7.0%
1,389
1,493
4.8%
974
3,274 8.5%
7.9%
2,198
FY19
FY20
FY21
FY22
FY23
FY19
FY20
FY21
FY22
FY23
FY19
FY20
FY21
FY22
FY23
Net Worth
6,084
6,673
7,502
11,904
9,333
35.1%
32.0%
RoCE%
18.4%
38.8%
32.7%
24.9%
23.4%
30.8%
26.1%
RoE%
13.7%
FY19
FY20
FY21
FY22
FY23
FY19
FY20
FY21
FY22
FY23
FY19
FY20
FY21
FY22
FY23
1. Figures in ₹ crores, unless otherwise stated 2. Total Income excludes bullion sale of ₹1,357 cr in FY21, ₹1,045 cr in FY22 and ₹2,208 cr in FY23 3. EBIT excludes exceptional items for RoCE% calculation
77
Annual Consolidated Performance Trends
Jewellery
Watches & Wearables
EyeCare
Total Income and YoY Growth%
Total Income and YoY Growth%
Total Income and YoY Growth%
33,706
24,478
17,319
17,963
36%
38%
16,390
24%
6%
FY19
FY20
4%
FY21
3,310
43%
46%
2,317
509
23%
544
7%
2,447
15%
2,622
7%
1,587
-39%
689
33%
517 38%
FY22
FY23
375
-31%
FY21
FY22
FY23
FY19
FY20
FY21
FY22
FY23
FY19
FY20
EBIT and EBIT Margin
11.6%
11.8%
1,908
2,051
9.5%
1,701
12.5% 3,055
4,387 13.0%
EBIT and EBIT Margin
EBIT and EBIT Margin
267 10.9%
316
12.1%
408
12.3%
100 4.3%
98
14.2%
55 10.6%
23 6.1%
FY19 FY20 FY21 FY22 FY23
FY19
FY20
1. Figures in ₹ crores, unless otherwise stated 2.
Jewellery Income excludes bullion sale of ₹1,357 cr in FY21, ₹1,045 cr in FY22 and ₹2,208 cr in FY23
-8.3%
-132 FY21
-0.5% -2
-2.6% -14
FY22
FY23
FY19 FY20 FY21 FY22 FY23
78
Other Updates
Dividend Shareholding Information Awards and Recognition Sustainability at Titan
79
Dividend
Dividend (₹ Crores)
Dividend Payout %
40%
666
31%
888
27%
23%
355
355
32%
444
29%
333
30%
28%
25%
25%
186
204
195
231
FY14
FY15
FY16
FY17
FY18
FY19
FY20
FY21
FY22
FY23
Note: Dividend payout ratios exclude Dividend Distribution Tax
80
Shareholding Information
Shareholding Pattern as at June 30, 2023
Stock Information
BSE Ticker
NSE Ticker
500114
TITAN
Market Capitalization (Mar 31, 2023)
₹ 2.7 lakh crores
Number of Shares Outstanding
88.78 crores
Promoters 53%
Market Capitalization (₹ Crores)
2,70,650
2,25,156
2,23,287
1,38,322
1,01,372
82,893
Retail 19%
Insurance Cos. & Banks 4%
Mutual Funds 6%
Foreign Institutional Investors 19%
FY19
FY20
FY21
FY22
FY23
Jun'23
81
Awards & Recognition
Company of the Year by Business Award
CEO of the Year by Forbes India
Best Organisations for Women by Economic Times
Top 40 India’s Workplaces in Health & Wellness by Great Place to Work
Winner Best Vegan Sarees at PETA India’s 2022
Good Delivery List by MCX
Product and Smart Category Winner by Reddot
Most Sustainable Companies Award at Sustainable World Conclave 2023
Top 24 Organizations The Employer of the Future by Leadup Universe
82
Sustainability at Titan
Titan Kanya
Titan LeAP Program
Project Tarasha
Happy Eyes
Agriculture / Water / Livelihood programs
83
Sustainability at Titan
Girl Child/ Education
Skill development for underprivileged
Support for Indian Arts, Crafts & Heritage
•
•
•
Titan Kanya, Kanya+ and the holistic engagement program of Kanya Sampurna started the year with developing teaching learning materials, training facilitators and tutors, tracking enrolments of students at schools and gearing up for implementation immediately after schools reopened The science education program has started in all intervention areas. The highlight for the year is to support 10 Atal Tinkering Labs in and around Raichur
Skilling programs in the categories of ‘For employment’, ‘For employability’ and ‘Entrepreneurship / Livelihood development’ programs started in the right earnest. Newer elements of training have been introduced, new programs have been designed with existing partners and a new partner has been identified for skilling the disabled in Tamil Nadu
• Groundwork for setting up a new Titan LeAP Centre at Coimbatore is going on. Many new employers
have been signed up as employment partners
• Under the aegis of the vertical of Indian Heritage Arts and Crafts, holistic support was extended to 7 different craft clusters through independent projects and over 40 craft enterprises under Project Tarasha
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Sustainability at Titan
Affirmative Action
• An MoU was signed with DET, Tamil Nadu for developing the 5 Tribal ITIs of the State. Support to many
new tribal institutions have been planned and the initial preparations have commenced
Responsible Citizenship
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The Happy Eyes project has taken off very well and covers:
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• • •
Screening and appropriate vision correction of Government and Aided school children and teachers Screening of the urban poor with the help of a Mobile Rural Vision Program Screening of the less privileged at Vision Centres Project to make 2 blocks of Tamil Nadu Vision Impairment Free
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The water shed – agri-livelihood development program covering about 3,500 hectares of land in Krishnagiri and TV Malai is on track The program in Uttarakhand for multi-level development of 60 villages and to make them water smart is in its 2nd year of operations
• After a successful pilot in FY23, a 3-year agri-water-livelihood development project in Nagaland has
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been signed up to benefit farmers of Phek district and is progressing well Titan Footprints: Titan’s volunteering program was active with a total of close to 1,253 volunteering hours involving 615 volunteers across the Company either in CSR projects or other local initiatives
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Sustainability at Titan
Waste Management
• At Watches & Wearables, organic sludge from STP ( Sewage Treatment Plant ) is converted as manure and
distributed for agricultural purpose. 47 tons of manure were distributed during the last 3 months
Water
Locational water conservation initiatives continue to reduce fresh water consumption
• • At Watches & Wearables, usage of STP recycled water (through ultra filtration / RO system) for washroom
applications was initiated (Apr’23 to June’23) resulting in fresh water saving of 1,783 KL
Energy conservation
• At Watches & Wearables, design envelope pumps - a new technology pump with inbuilt VFD options have been installed for our centralized A/c system and chilled water distribution network that resulted in energy conservation of 10,000 Units/Year
Other Notable Initiatives
Large scale tree plantation in over 100 government schools in Krishnagiri was initiated
• • Multiple engagement points on substituting plastics are being explored
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