Titan Company Limited has informed the Exchange about Investor Presentation
SEC 131 / 2023-24
3rd November 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: Second quarter earnings call for FY 2023-24 – Investors Presentation
Further to our communication dated 20th October 2023, attached is a copy of the investor presentation regarding second quarter earnings 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 and Half Year ended September 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 |Balance Sheet | 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
2013
Launch of
and Titan E-commerce
2020
Acqui-hire of HUG Innovations
2003 Launch of
2009
2016
Acquisition of
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
6
Titan at a Glance
₹427 bn TTM Total Income (1)
₹2,796 bn Market Capitalization (2)
2,859
Stores
3.75 mn
Retail Area sq ft
~11.2k
Employees on roll
10
Manufacturing and Assembly Facilities
28 mn+
Encircle Members
415
Town Presence
Note: 1. Total Income excludes bullion sales 2. Market Capitalization as of September 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
~19%
Digitally influenced Sales in Q2FY24
844
Exclusive Brand Outlets
262
Town Presence Pan-India
1. Market share as a % of Total Indian Jewellery market based on internal estimates 2. All figures are on a consolidated basis 3.
Exclusive Brand Outlets include Tanishq (445), Mia (145), Zoya (8) and CaratLane (246)
40%+
Sales through Gold Exchange Programme
14
New Campaigns / Collections in Q2FY24
99
Watches & Wearables
India’s Leading Watches Company
1,051
Exclusive Brand Outlets
8,000+
Multi-brand Outlets
2 Manufacturing facilities in Hosur and Coimbatore
319
Town Presence Pan-India
32
New Campaigns / Collections in Q2FY24
1. Exclusive Brand Outlets include Titan World (646), Helios (212) and Fastrack (193)
3 Assembly facilities in Roorkee, Pantnagar and Sikkim
1010
EyeCare
India’s Most Trusted Optical Chain
913
Exclusive Brand Outlets
358
Town Presence Pan-India
Manufacturing facility at Chikkaballapur
4.9
Google Store Ratings (5 Lakh+ Reviews)
6
New Campaigns / Collections in Q2FY24
1. Exclusive Brand Outlets include Titan Eye+ (905) and Fastrack (8)
2 Lens Lab facilities at Noida and Kolkata
1111
Fragrances
India’s Leading Fine Fragrances Brand
Presence in
800+
Titan World and Fastrack outlets
SKINN ranked
#1
in Departmental Chains1
3,000+
Multi-brand Outlets
SKUs
SKINN - 72 Fastrack - 27
1. Based on internal sales data from retail chains
1212
Fashion Accessories
Thoughtfully Designed Bags
Available in
80+
Available in
85+
Departmental Stores
Departmental Stores
Online Presence Tata CLiQ, Nykaa, Myntra, Amazon and irth.in
Online Presence Tata CLiQ, Nykaa, Myntra, Flipkart, Amazon, Ajio and ft.in
1313
Indian Dress Wear
Finest range of pure handcrafted weaves from across the country
51
Exclusive Brand Outlets
25
Town Presence Pan-India
100+ Clusters1
6
New Campaigns / Collections in Q2FY24
Weavershala initiative by is an Taneira towards supporting weavers and with 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
Q2FY24 Standalone Total Income Highlights
86%
11%
2%
1%
Segment1,5
Jewellery3
Total Income
YoY Growth%
8,575
19.1%
8,575
7,203
Watches & Wearables
1,092
31.7%
1,092
829
EyeCare
188
12.3%
Emerging Businesses4
93
27.9%
Total2,3
10,027
20.7%
167
188
73
93
8,308
10,027
Q2FY23
Q2FY24
Q2FY23
Q2FY24
Q2FY23
Q2FY24
Q2FY23
Q2FY24
Q2FY23
Q2FY24
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 ₹1,755 cr and ₹482 cr in Q2FY24 and Q2FY23 respectively
17
Q2FY24 Standalone EBIT Highlights
15.3%
14.1%
1,206
1,103
14.5%
13.6%
1,367
1,205
14.8% 14.7%
123
160
16.5% 14.9%
28
28
(24.2)% (25.8)%
(18)
(24)
Q2FY23 Q2FY24 Q2FY23 Q2FY24 Q2FY23 Q2FY24
Q2FY23 Q2FY24 Q2FY23 Q2FY24
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
Q2FY24 Consolidated Total Income Highlights
86%
10%
2%
2%
Segment1,5
Jewellery3
Total Income
YoY Growth%
9,265
23.3%
9,265
7,515
Watches & Wearables
1,092
31.6%
1,092
830
EyeCare
Other Businesses4
189
13.2%
218
11.2%
Total2,3
10,837
24.0%
189
196
218
167
10,837
8,742
Q2FY23
Q2FY24
Q2FY23
Q2FY24
Q2FY23
Q2FY24
Q2FY23
Q2FY24
Q2FY23
Q2FY24
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 ₹1,816 cr and ₹482 cr in Q2FY24 and Q2FY23 respectively
19
Q2FY24 Consolidated EBIT Highlights
14.5%
13.1%
1,217
1,088
13.7%
12.8% 1,392
1,202
14.7% 12.5%
14.7% 11.1%
122
160
16.8%
13.2%
28
25
(1.0)%
(0.9)%
(2)
(2)
Q2FY23 Q2FY24 Q2FY23 Q2FY24 Q2FY23 Q2FY24
Q2FY23 Q2FY24 Q2FY23 Q2FY24
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 ₹8,575 cr grew 19.1% YoY; Total Income from India operations recorded a strong growth of ~21% YoY to ₹8,438 cr; Revenue from exports declined by ~33% YoY due to lower inventory transfers to overseas subsidiaries
Robust domestic consumer sales in Q2FY24 were led by ‘Festival of Diamonds’ (studded activation), Tales of Mystique collection and healthy double-digit growths in both Buyers and Average Bill value per buyer. The New : Repeat buyer ratio was 48:52 for Q2FY24
Studded, high value and wedding segments led overall growths, with studded share improving by 1% over Q2FY23. There was a material beneficial impact of 'Shraad' being delayed from September last year to October month in the current year
EBIT came at ₹1,206 cr clocking a margin of 14.1% helped by the better studded share in the quarter.
Tanishq expanded its presence in Gulf Co-operation Countries (GCC) to enter Qatar with 2 new stores in Doha. Tanishq's international presence now stands at 10 stores including the one store in New Jersey, USA
Zoya entered the state of Gujarat by opening its first store at Palladium mall, Ahmedabad during the quarter. With this expansion, the niche luxury jewellery brand is now present in 8 stores spread across the cities of Mumbai, New Delhi, Bengaluru, Gurgaon, Hyderabad, and Ahmedabad
During the quarter, Tanishq opened 10 new stores in India; Mia added 26 new stores thereby expanding its presence to 59 towns within India
Note: 1. Total Income excludes bullion sales of ₹1,755 cr and ₹482 cr in Q2FY24 and Q2FY23 respectively 2. All operational metrics stated above are for domestic standalone Jewellery business
₹8,575 cr Total Income
₹1,206 cr EBIT
19.1% YoY Growth
14.1% EBIT Margin
Distribution of key categories as % of Jewellery sales
Q2FY23
Q2FY24
32%
33%
68%
67%
Studded
Gold, Coins, and Others
23
Glimpses of Tanishq’s Festival of Diamonds and Heera Ho Tum
The Autumn edit
Video hyperlinks embedded for the above campaign
24
Glimpses of Tanishq’s Tales of Mystique
Taking inspiration from some of the most iconic Rajasthani architectural ques like forts, jharokhas, arches, domes and staircases in Mehrangarh Fort, Amer Fort and Jaswant Thada this collection is an ode to the architectural heritage of Rajasthan
Transport yourself into an era gone by with this breathtaking collection meticulously crafted exquisite gemstones and diamonds. The collection has been specifically designed keeping in mind the discerning conscious women and their refined tastes, need for unique designs and their wish to own statement pieces as unique as their personality
Video hyperlinks embedded for the above campaign
25
Glimpses of Rivaah X Tarun Tahiliani
Rivaah X Tarun Tahiliani
A collection which has been 3 years in the making, taking inspiration from Tarun’s beautiful embroidery
Four design pillars – Chikankaari, Zardosi, Kashida and Diamonds
Video hyperlinks embedded for the above campaign
26
Glimpses of Tanishq’s When it Rings True
When it Rings True
Tanishq helped real- life couples curate their wedding proposals with Tanishq engagement rings to propose to their partners
Popular Influencer, Ms. Shivani Bafna hosted the exciting 15-20 min duration engagements on Tanishq’s YouTube Channel
Video hyperlinks embedded for the above campaign
27
Glimpses of Tanishq’s Regional Campaigns
28
Glimpses of Zoya’s My Embrace
Video hyperlinks embedded for the above campaign
29
Actress Sonam Kapoor adorns this beautiful collection for Zoya
Glimpses of Mia’s New Collections and Campaigns
30
Jewellery Standalone Quarterly Performance Trends
Total Income and YoY Growth%
3,572
3,582
29%
4,890 37%
5.7%
3,986
4,047
21%
13%
70%
6,397
6,249
5,409
3,528
3,754
3,446
11%
1,182
16%
2,467
8,563
77%
6,106
6,132
37%
FY22: 23,268; 35%
-4.2%
9,518
9,070
8,575
7,600
7,203
7,576
FY23: 31,897; 37%
18%
11%
24%
19%
19%
FY19: 16,030; 23%
FY20: 16,738; 4.4%
Q1'19
Q2'19
Q3'19
Q4'19
Q1'20
-1.5% Q2'20
-5.8%
FY21: 17,274; 3.2%
-2.3%
22% 22% 31% 25% 24% 21% 32% 23% 7% 20% 36% 37% 11% 26% 37% 26% 24% 22% 30% 24%
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
Q2'24
13.3% 12.8%
11.0% 10.9%
651
10.9% 10.9%
393
392
512
442
384
13.0% 701
14.2%
534
FY19: 12.2%
FY20: 12.3%
752 12.0%
703
11.0%
8.3% 285
FY21: 9.8%
(54)
EBIT and EBIT Margin
1,260
14.7%
13.0%
793
12.7% 780
1,103
1,236
15.3%
1,027 13.5%
997 13.0% 13.2%
1,206
999
14.1%
11.0%
8.4%
207
FY22: 13.1%
FY23: 13.7%
Q1'19
Q2'19
Q3'19
Q4'19
Q1'20
Note: 1. Figures in ₹ Crores, unless stated otherwise 2. Total Income excludes bullion sales
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
Q2'24
31
Watches & Wearables
Performance Highlights Marketing Campaigns Standalone Quarterly Performance Trends
32
Watches & Wearables Performance Highlights
• Division achieved a Total Income of ₹1,092 cr growing 31.7% YoY and crossed ₹1,000+ crs of quarterly Revenues for the first time; India operations achieved a Total Income of ₹1,074 cr clocking a growth of 32.3% YoY
• Analog watches achieved Revenues of ₹870 cr growing a healthy ~22% YoY; Wearables continued its fast-paced growth trajectory achieving Revenues of ₹175 cr clocking ~131% YoY growth
•
Titan and International brands (Helios) were key enablers in analog watches exhibiting strong double-digit their Revenue contribution has improved and stands at nearly 2/3rds of the analog portfolio
in Average Selling Price. Together
increases
• Amongst key channels, Helios, Large Format Stores (LFS) and E-commerce grew in healthy double-digits YoY while Titan World clocked single digit growth YoY. The sales from E- commerce more than doubled as the partners stocked up in anticipation of strong Q3 festive season sales
•
•
In Wearables, Fastrack jumped ~4x in volumes growing the fastest in the portfolio. Wearables segment improved its share to ~17% of the total W&W portfolio from ~10% in Q2FY23
EBIT came in at ₹160 cr clocking 14.7% margin and growing by ~30% YoY
• Division added 10 new stores in Titan World, 5 in Helios and 5 stores in Fastrack during
the quarter
₹1,092 cr Total Income
₹160 cr EBIT
31.7% YoY Growth
14.7% EBIT Margin
Distribution of Wearables as % of Watches & Wearables sales
Wearables
Analog
17%
10%
Q2FY23
Q2FY24
33
Glimpses of Titan’s Find Your Joy
Find Your Joy
There’s nothing like the discovery of joy in unexpected moments
Titan’s new campaign, “Find Your Joy” is all about that thrill, embracing the unexpected joys and unique expressions that set you apart. Through the campaign films, Titan has landed its modern positioning with panache, showcasing a stunning range of fashion workwear watches
From spontaneous get-togethers to unforeseen love-at-first-sights, each watch is a statement in fashion, fun and absolute euphoria. Titan wants to enable people to find their joys and immerse them in a world where time isn’t just measured but cherished
Video hyperlinks embedded for the above campaign
34
Glimpses of Titan’s New Collections and Campaigns
Titan Automatics These remarkable timepieces exude sophistication and precision with their stunning dual-finish 316L Surgical Grade stainless steel case and bracelet. Powered by a Japanese automatic caliber, these watches feature a unique square case design with solid link bracelets and a captivating layered skeletal dial
The Titan Avant Garde collection blends classic aesthetics with modern design elements. These exquisite timepieces captivate your senses through its perfect fusion of traditional charm and contemporary style
Titan Retro Revive brings in newer looks in one of our long- standing cases. Each timepiece boasts a durable stainless-steel case, complemented by clean dials adorned with elegant printed Roman numerals
35
Titan Edge Fusion These timepieces come with remarkable bracelets crafted from a fusion of ceramic and solid stainless-steel links enhancing the aesthetics of the timepiece and ensuring exceptional comfort and wearability
The entire composition is safeguarded by a sapphire crystal, ensuring unparalleled clarity and resilience
Glimpses of Titan’s New Collections and Campaigns
Work Wear Fashion is a theme which introduces new looks in the work wear fashion space. This theme covers 4 collections (Minimalist, TGIF, Bright Leathers, Slimline 2)
The Raga Chic collection presents stylish designs for the modern urban consumers. These timepieces are made for more informal/semi formal occasions that go well with indo-western outfits
Raga Power Pearls has been inspired from Pearls
This collection blends elegance & feminity of pearls with modern, contemporary forms
Raga New You collection is a premium collection with contemporary silhouettes that draws inspiration from semi-precious gemstones. These gemstones have special properties that promote self love and self care
36
Glimpses of Fastrack’s #BeBoth ft. Vijay Deverakonda
Video hyperlinks embedded for the above campaign
#BeBoth
Integrated Pan-India Campaign leveraging Digital, Outdoor and In- market presence
Onboarded south star Vijay Deverakonda as the face of the brand
Fashion-first narrative to position Fastrack watches as accessories, not just time-telling pieces
37
Glimpses of Fastrack’s New Collections and Campaigns
Fastrack Pulse 1
Pulse a new series from Fastrack that revives the existing best sellers watches for girls in a new contemporary avatar
Fastrack Streetwear 5.0 Ana-digi watches for guys In a new colour scheme
38
Fastrack Crush
A new collection inspired by creases to create unique dial textures
Fastrack Mettalica A collection of 3 variants with unique bracelet designs in varied plating colours.
Glimpses of Sonata’s New Collections and Campaigns
SF Sporty Digitals
Volt 4 - Fashion forward plastic watches for guys
TNPL 2023 X Sonata
Sonata Classique
39
Glimpses of International Brand Campaigns
Cerruti 1881 participation in the Cosmopolitan Beauty & Fashion Week held on 12th and 13th Sep, 2023 in Delhi
40 influencers posed with the watches and posted on their social media handles
40
Glimpses of Fastrack’s Follow Yourself
Video hyperlinks embedded for the above campaign
41
Watches & Wearables Standalone Quarterly Performance Trends
594 15%
676 17%
641 19%
715 20%
719
6.4%
531 7.5%
625
-2.4%
557 4.9%
FY19: 2,441; 15%
FY20: 2,615; 7.2%
Total Income and YoY Growth%
72%
687
708
29%
785
829
811
871 40%
622 12%
21%
15%
FY23: 3,296; 43%
1,092
32%
890
13%
400
555
-0.3%
550
-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
Q2'24
24% 28% 26% 22% 27% 27% 24% 22% 5% 25% 35% 35% 12% 30% 31% 27% 24% 25% 25% 26%
122 111 18.8% 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%
160
14.7%
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
Q2'24
Note: Figures in ₹ Crores, unless stated otherwise
42
EyeCare
Performance Highlights Marketing Campaigns Standalone Quarterly Performance Trends
43
EyeCare Performance Highlights
•
•
Total Income grew by 12.3% YoY to clock ₹188 cr in Q2FY24
International brands clocked a faster growth of ~14% YoY whereas House brands growth
was in-line with that of the Division. The share of International brands inched up and they now contribute ~25%+ share in the portfolio
• Amongst categories, Revenues from Sunglasses grew ~47% YoY, Lenses grew ~9% YoY
whereas Frames growth was nearly flat YoY
The Division’s growth was largely driven by increase in volumes with average selling price remaining flat YoY; Within channels, Titan Eye+'s growth was in-line as that of the Division
₹188 cr Total Income
12.3% YoY Growth
•
•
•
•
Titan Eye+ introduced ‘Zefr’, a new brand of luxury frames during the quarter. The frames, made in France, are light as a gentle breeze signifying meaningful innovation with impactful
designs and standing as a testimony to true engineered luxury
₹28 cr EBIT
14.9% EBIT Margin
Titan EyeX 2.0 and Fastrack vibes 2.0, two exciting introductions in Gen2 smart glasses with
enhanced audio and music capabilities were successfully launched in Q2FY24
EBIT came in at ₹28 cr clocking a margin of 14.9%
• Division added 4 new stores in Titan Eye+ (net); Fastrack expanded its metro presence by
adding 1 new store in Chennai during the quarter
44
Glimpses of Titan’s Zefr Collection
Made in France | Light as a gentle Breeze
45
Glimpses of New Smart Glasses
Video hyperlinks embedded for the ‘Titan EyeX 2.0’ collection
46
Glimpses of New Campaigns and Collections
A new progressive lens that provides extraordinary comfort
A new lens that gives enhanced clarity while driving
47
EyeCare Standalone Quarterly Performance Trends
132
16%
120 19%
129 40%
128
18%
149
13%
154
28%
133
2.9%
108
Total Income and YoY Growth%
124
127
18%
94
-7.0%
67
70%
160
156
26%
134
5.1%
183
167
174
165
203
188
23%
11%
12%
11%
4.9% FY23: 689; 33%
FY19: 509; 23%
FY20: 544; 6.9%
30
-16%
FY21: 375; (31)%
FY22: 517; 38%
Q1'19
Q2'19
Q3'19
Q4'19
Q1'20
Q2'20
Q3'20
Q4'20
Q1'21
-39% Q2'21
Q3'21
Q4'21
Q1'22
Q2'22
Q3'22
Q4'22
Q1'23
Q2'23
Q3'23
Q4'23
Q1'24
Q2'24
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)
17.7% 18.1%
22
23
9.6%
9
FY21: 6.1%
EBIT and EBIT Margin
37
34 22.9% 21.8%
36
19.8%
32
18.4%
28 16.5%
35
17.2%
28
14.9%
(13)
FY22: 10.5%
-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
Q2'24
Note: Figures in ₹ Crores, unless stated otherwise
48
Emerging Businesses
Performance Highlights Marketing Campaigns
49
Emerging Businesses Performance Highlights
₹93 cr Total Income
27.9% YoY Growth
₹(24) cr EBIT
(25.8)% EBIT Margin
•
•
•
•
Emerging Businesses comprising of Fragrances & Fashion Accessories (F&FA), and Indian Dress Wear (Taneira) clocked a growth of
27.9% in Total Income YoY
F&FA Revenues clocked ~4% growth YoY; In sub-segments, Fragrances grew 12% YoY and Women’s Bags, led by ‘IRTH brand,
clocked a healthy 31% growth YoY. The other fashion accessories comprising of belts and wallets was however lower by 40% YoY
Taneira's Q2FY24 sales grew by ~64% YoY. The brand opened 4 new stores during the quarter, taking the total store count to 51
stores covering 25 cities
The quarter was centered around festive collections and campaigns catering to Onam, Varamahalakshmi, Ganesh Chaturthi, Raksha
Bandhan and Teej celebrations promoted majorly via digital platforms. The brand unveiled the Pujo collection, an exclusive offering
featuring a collection based on extensive range of Lal Paars, spanning various clusters, crafts, and price points
• On National Handloom Day, Taneira launched Khadi sarees woven with the Jamdani technique, inspired by the Indian National Flag's colours. The brand organized ‘Taneira Saree Run’ in Bangalore drawing over 5k participants. ‘Taneira Milan’, an immersive
program was introduced in the flagship stores to enhance brand's ethos to the consumers. Brand also undertook activities to
improve digital store discoverability through various influencer and stylist collaborations
50
Glimpses of Fragrances New Campaigns and Collections
“Fastrack No Nasties Perfume Spray” launched in July 2023 with 7 unisex fragrances entered in the category of deodorant
Video hyperlinks embedded for the ‘Notes from a Perfumer’ and ‘Skinn Body Mists’ campaign and collection
51
Glimpses of Fashion Accessories Campaigns and Collections
Video hyperlinks embedded for the above campaigns and collections
IRTH Canvas Edit
52
Glimpses of Taneira’s Regional Campaigns
Video hyperlinks embedded for the above campaigns
53
Glimpses of Khadi Collection and Taneira Lal Paar
Video hyperlinks embedded for the above campaigns
54
Glimpses of Taneira Saree Run and Taneira Milan
Taneira Milan is a consumer connect program introduced to give an immersive brand experience to high intent category audience and to take them through the brand philosophy. In Q2, we had these sessions in Indiranagar and Jayanagar in Bangalore, Banjara Hills in Hyderabad, Connaught Place in Delhi, Andheri in Mumbai and Aundh in Pune
Taneira Saree Run Bangalore Over 5k women participated
Video hyperlinks embedded for the ‘Taneira Saree Run’
55
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
56
Key Subsidiaries
CaratLane Titan Engineering & Automation Limited
57
CaratLane Trading Private Limited 72.3% Owned Subsidiary
•
•
•
•
•
•
Total Income grew by 45.1% YoY to ₹650 cr driven by campaigns around the mini festive season of Raksha Bandhan and Old Gold Exchange offer
Revenue from the key category of Studded grew ~45% YoY. Studded contribution continues at 70%+ of the total business
EBIT came in at ₹26 cr with a margin of 4.1%
'Switch',
CaratLane’s
first
convertible
jewellery
collection was
launched
targeting customers with a love for versatile designs that match their dynamic styling
The brand rolled out a 'Request-In-Store' feature during the quarter aimed at deepening
the customer omni-channel experience
CaratLane added 13 new stores (net) in the quarter taking the total store count to 246
stores spread across 97 cities pan-India
₹650 cr Total Income
45.1% YoY Growth
₹26 cr EBIT
4.1% EBIT Margin
Note: Total Income excludes bullion sales of ₹61 cr in Q2FY24
58
Glimpses of CaratLane’s New Campaigns and Collections
Switch – Convertible Jewellery This collection, designed with the modern hustler woman in mind, includes versatile pieces that seamlessly transitions from one look to another, embodying the spirit of her dynamic lifestyle and delivering to the need of swiftly moving from one occasion to another.
The insight for the Raksha Bandhan campaign was based on the fact, that some relationships never age. Sibling relationship is one such and therefore they deserve a gift that lasts forever!
Video hyperlinks embedded for the above campaigns
59
Titan Engineering & Automation Limited Wholly Owned Subsidiary
•
Total Income at ₹125 cr was higher by 2.0% YoY
• Within Divisions, Automation Solutions (AS) division Revenues were lower by ~15% YoY
whereas Manufacturing Services* (MS) division grew its Revenues by ~25% YoY
•
•
The AS business order flow for the quarter nearly tripled compared to the same period last
year resulting in a closing order book position of more than ₹600 crs at the end of Q2FY24
EBIT for the quarter was ₹20 cr clocking 15.9% margin
₹125 cr Total Income
₹20 cr EBIT
2.0% YoY Growth
15.9% EBIT Margin
* Earlier known as Aerospace and Defence division
60
Assembly line machine
HVAC assembly line
Rotor assembly line
Retail Network
Jewellery Watches & Wearables EyeCare Taneira Retail Sales Growth
61
Jewellery Presence
Mar-23
YTD Additions
Stores
423
Area sq. ft.
1.74mn
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
22
137K
9
34
35K
16
1
1.4K
1
24
50K
9
Sep-23
445*
1.88mn
260
145
99K
59
8
25K
6
246
324K
97
Quarterly Additions
12
86K
3
26
27K
14
1
1.4K
1
13
31K
4
Note: *includes 9 stores in GCC, and 1 store in New Jersey, North America
62
Tanishq Qatar Stores
Tanishq entered Qatar opening 2 new stores in DFC Mall and Lulu Hypermarket in Doha in the month of August’23
63
Watches & Wearables Presence
Exclusive Brand Outlets Presence
Multi Brand Outlets Presence
Mar-23
YTD Additions
Sep-23
Quarterly Additions
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
24
14K
11
14
10K
4
8
6K
3
646
457K
317
212
154K
81
193
93K
88
10
4K
4
5
3K
3
5
4K
3
8,000+ Multi Brand Retailers (MBR)
2,100+ MBR Town Presence
950+ Large Format Stores (LFS)
221 LFS Town Presence
64
EyeCare Presence
Mar-23
YTD Additions
Stores
Area sq. ft.
Town Presence
896*
554K
352
Stores
Area sq. ft.
Town Presence
5
5.8K
1
9
10K
6
3
2.7K
2
Sep-23
905*
564K
358
8
8.5K
3
Quarterly Additions
4
7K
1
1
0.9K
-
Note: *includes 1 store in Dubai, GCC
65
Taneira Presence
Mar-23
YTD Additions
Stores
Area sq. ft.
Town Presence
41
115K
22
10
32K
3
Sep-23
51
147K
25
Quarterly Additions
4
8K
-
Connaught Place, New Delhi
Mumbai - Andheri
Noida
66
Retail Sales (Secondary UCP) Growth
Q2FY24
Total
Like-to-Like
YTD24
Total
Like-to-Like
27%
22%
24%
19%
47%
10%
46%
9%
8%
2%
8%
2%
5%
(7)%
1%
(8)%
Watches LFS
15%
4%
9%
0%
Watches LFS
23%
11%
11%
2%
38%
18%
39%
19%
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
67
Financial Performance
Statement of Profit and Loss Total Income and EBIT Capital Employed Balance Sheet Financial Trends
68
Standalone Statement of Profit and Loss Highlights
Note: 1. Operating Revenue and Total Income excludes bullion sale of ₹1,755 cr and ₹482 cr in Q2FY24 and Q2FY23 respectively; ₹2,693 cr and ₹838 cr in YTD24 and YTD23 respectively 2. Profitability & expense percentages are computed on Total Income excluding bullion sales
69
Q2FY23Q2FY24YoY%Particulars (in ₹ Crores)YTD23YTD24YoY%8,2489,90520.1%Operating Revenue16,85320,11219.3%8,30810,02720.7%Total Income16,95720,33319.9%1,2941,47714.1%EBITDA2,5022,6797.1%15.6%14.7% (85) bps%14.8%13.2% (158) bps1,2051,36713.5%EBIT2,3262,4706.2%14.5%13.6% (87) bps%13.7%12.1% (157) bps8579409.6%PAT1,6501,7174.0%10.3%9.4% (94) bps%9.7%8.4% (129) bps Consolidated Statement of Profit and Loss Highlights
Note: 1. Operating Revenue and Total Income excludes bullion sale of ₹1,816 cr and ₹482 cr in Q2FY24 and Q2FY23 respectively; ₹2,757 cr and ₹838 cr in YTD24 and YTD23 respectively 2. Profitability & Expense percentages are computed on Total Income excluding bullion sales
70
Q2FY23Q2FY24YoY%Particulars (in ₹ Crores)YTD23YTD24YoY%8,68110,71323.4%Operating Revenue17,76821,66922.0%8,74210,83724.0%Total Income17,87321,90722.6%1,3081,53517.4%EBITDA2,5482,7748.9%15.0%14.2% (80) bps%14.3%12.7% (159) bps1,2021,39215.8%EBIT2,3392,5037.0%13.7%12.8% (90) bps%13.1%11.4% (166) bps8359169.7%PAT1,6251,6722.9%9.6%8.4% (110) bps%9.1%7.6% (146) bps Q2FY24 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 ₹61 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
71
Total Income(in ₹ Crores)Q2FY23Q2FY24YoY%Jewellery7,2038,57519.1%Watches and Wearables8291,09231.7%EyeCare16718812.3%Emerging Businesses739327.9%Corporate3679121.4%Standalone (w/o bullion sale)8,30810,02720.7%Jewellery - Bullion sale4821,755Standalone8,79011,78234.0%Caratlane44865045.1%TEAL1231252.0%Others/ Consol. Adj. (2)(137)96Consolidated9,22412,65337.2%EBIT (in ₹ Crores)Q2FY23Q2FY24YoY%Jewellery1,1031,2069.4%Watches & Wearables12316030.3%EyeCare28281.4%Emerging Businesses(18)(24)36.6%Corporate(31)(3)(90.3%)Standalone1,2051,36713.5%Caratlane2926(9.5%)TEAL142043.7%Others/ Consol. Adj. (2)(46)(21)Consolidated1,2021,39215.8%EBIT Margin (3)Q2FY23Q2FY24YoYJewellery15.3%14.1%(125) bpsWatches and Wearables14.8%14.7%(16) bpsEyeCare16.5%14.9%(160) bpsEmerging Businesses (1)(24.2%)(25.8%)N.M.Standalone14.5%13.6%(87) bpsConsolidated13.7%12.8%(98) bps YTD24 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 ₹64 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
EBIT (in ₹ Crores)YTD23YTD24YoY%Jewellery2,1302,2053.5%Watches & Wearables22626215.9%EyeCare6463(1.6%)Emerging Businesses(28)(51)82%Corporate(66)(9)(86%)Standalone2,3262,4706.2%Caratlane6362(1.9%)TEAL990.6%Others/ Consol. Adj. (2)(58)(37)Consolidated2,3392,5037.0%EBIT Margin (3)YTD23YTD24YoY%Jewellery14.4%12.5%(189) bpsWatches and Wearables14.0%13.2%(78) bpsEyeCare18.3%16.1%(216) bpsEmerging Businesses (1)(21.8%)(30.2%)N.M.Standalone13.7%12.1%(157) bpsConsolidated13.1%11.4%(169) bpsTotal Income(in ₹ Crores)YTD23YTD24YoY%Jewellery14,80317,64519.2%Watches and Wearables1,6141,98222.8%EyeCare35039111.6%Emerging Businesses12916931.4%Corporate61146139.6%Standalone (w/o bullion sale)16,95720,33319.9%Jewellery - Bullion sale8382,693Standalone17,79523,02629.4%Caratlane9311,29038.5%TEAL212186(12.1%)Others/ Consol. Adj. (2)(227)162Consolidated18,71124,66431.8% Standalone Capital Employed
Note: 1. Emerging Businesses include Business Divisions of Fragrances and Fashion Accessories, Indian Dress Wear
73
Business Segment(in ₹ Crores)30-Sep-2230-Sep-2330-Sep-2230-Sep-2330-Sep-2230-Sep-23Jewellery14,83318,5409,64911,6675,1846,873Watches & Wearables2,6923,5091,0011,0311,6912,478EyeCare561707316384245323Emerging Businesses (1)302386157163145223Corporate (unallocated)3,4297,1933634,4863,0662,707Total21,81730,33511,48617,73110,33112,604Segment 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-Sep-2230-Sep-2330-Sep-2230-Sep-2330-Sep-2230-Sep-23Jewellery16,63721,25011,13813,3755,4997,875Watches & Wearables2,7233,5821,0101,0501,7132,532EyeCare561711315388246323Other Businesses (1)8861,127389538497589Corporate (unallocated)2,6736,2623635,1162,3101,146Total23,48032,93213,21520,46710,26512,465Segment AssetsSegment LiabilitiesCapital Employed Standalone Balance Sheet
75
in ₹ CroresSep-22Sep-23ChangeFixed Assets1,0891,374285Right of use asset9471,140193Intangible Assets435916Investments9451,363418Other non-current assets9601,05090Non Current Assets3,9844,9861,002Inventories13,51116,4502,939Trade Receivables8041,671867Cash and Cash Equivalents165354189Other Bank Balances548512(36)Investments5594,0663,507Other Current Assets2,2462,29650Current Assets17,83325,3497,516Total Assets21,81730,3358,518Total Equity10,33112,6042,273Lease liability1,1251,512387Other non-current liabilities22123413Non Current Liabilities1,3461,746400Short-term borrowings04,1154,115Gold on Loan5,1566,2811,125Trade Payables1,2341,092(142)Lease liability22024222Other Current Liabilities3,5314,255724Current Liabilities10,14015,9855,845Total Equity & Liabilities21,81730,3358,518 Consolidated Balance Sheet
76
in ₹ CroresSep-22Sep-23ChangeFixed Assets1,3091,699390Right of use asset1,0671,478411Intangible Assets24628034Goodwill1231230Investments341601260Other non-current assets1,1201,259139Non Current Assets4,2065,4401,234Inventories14,96718,3263,359Trade Receivables7131,563850Cash and Cash Equivalents268466198Other Bank Balances795962167Investments5594,0663,507Other Current Assets1,9722,109137Current Assets19,27427,4928,218Total Assets23,48032,9329,452Total Equity10,26512,4652,200Lease liability1,2661,891625Other non-current liabilities25529944Non Current Liabilities1,5212,190669Short-term borrowings7135,4724,759Gold on Loan5,4356,5621,127Trade Payables1,5641,412(152)Lease liability24930152Other Current Liabilities3,7334,530797Current Liabilities11,69418,2776,583Total Equity & Liabilities23,48032,9329,452 Consolidated Quarterly Performance Trends
Operating Revenue and YoY Growth%
5,871
4,451
4,567
35%
27%
8.5%
FY19: 19,779; 22%
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%
FY20: 21,052; 6.4%
FY21: 20,288; (3.6)%
9,983
7,301 75%
7,421
3,049
37%
FY22: 27,754; 37%
-0.6%
11,294
10,956 10,713
9,087
8,681
9,305
FY23: 38.367; 38%
19%
13%
25%
21%
23%
Q1'19
Q2'19
Q3'19
Q4'19
Q1'20
Q2'20
Q3'20
Q4'20
Q1'21
-11% Q2'21
Q3'21
Q4'21
Q1'22
Q2'22
Q3'22
Q4'22
Q1'23
Q2'23
Q3'23
Q4'23
Q1'24
Q2'24
10.4%
9.6%
467
439
10.1%
600
9.1%
452
10.0%
520
9.1%
425
9.9% 648
10.7%
509
FY19: 9.8%
FY20: 9.9%
PBT and PBT Margin
741 10.1%
730 9.7%
1,344
13.4%
868
11.8%
1,142 13.1%
1,072 11.7%
1,245
988 10.9% 10.5%
707 9.4%
1,252
11.6%
1,002
9.1%
FY23: 11.5%
5.2% 217 FY21: 6.5%
FY22: 10.6%
39 1.3%
Q1'19
Note: Q2'19 1. Figures in ₹ Crores, unless stated otherwise 2. Operating Revenue excludes bullion sales and Other Income 3. PBT is before exceptional items; PBT% is computed on Total Income excluding bullion sales
Q3'19
Q1'20
Q4'19
Q3'20
Q4'20
Q2'20
Q2'21
-361 Q1'21
Q3'21
Q4'21
Q1'22
Q2'22
Q3'22
Q4'22
Q1'23
Q2'23
Q3'23
Q4'23
Q1'24
Q2'24
77
Jewellery Consolidated Quarterly Performance Trends
29%
37% 4,997
3,643
3,645
6.3%
4,105
22%
5,606
12%
4,164 14%
3,650
0.1%
Total Income and YoY Growth%
71%
78%
9,005
10,131
9,755
9,265
7,995
7,515
8,065
6,496
6,653
6,379
39%
6,468
3,899
3,592
16%
-5.0%
1,222
-1.6%
2,626
FY22: 24,478; 36%
-2.8%
25%
22%
23%
18%
13%
FY23: 33,706; 38%
FY19: 16,390; 24%
FY20: 17,319; 5.7%
FY21: 17,963; 3.7%
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
Q2'24
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
1,288
14.3%
12.6%
803
12.1% 780
1,052 13.2%
14.5% 1,088
1,243
1,004 12.3% 12.4%
1,217
1,022
13.1%
10.5%
FY19: 11.6%
FY20: 11.8%
FY21: 9.5%
FY22: 12.5%
FY23: 13.0%
Q1'19
Q2'19
Q3'19
Q4'19
Q1'20
Note: 1. Figures in ₹ Crores, unless stated otherwise 2. Total Income excludes bullion sales
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
Q2'24
(68)
78
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 sales 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
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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
-8.3%
-132 FY21
-0.5% -2
-2.6% -14
FY22
FY23
FY19 FY20 FY21 FY22 FY23
1. Figures in ₹ crores, unless otherwise stated 2.
Jewellery Income excludes bullion sales of ₹1,357 cr in FY21, ₹1,045 cr in FY22 and ₹2,208 cr in FY23
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Other Updates
Dividend Shareholding Information Awards and Recognition Sustainability at Titan
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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
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Shareholding Information
Shareholding Pattern as at September 30, 2023
Stock Information
BSE Ticker
NSE Ticker
500114
TITAN
Market Capitalization (Sep 30, 2023)
₹ 2.8 lakh crores
Number of Shares Outstanding
88.78 crores
Promoters 53%
Market Capitalization (₹ Crores)
2,79,617
2,25,156
2,23,287
1,38,322
1,01,372
82,893
Retail 19%
Insurance Cos. & Banks 4%
Mutual Funds 5%
Foreign Institutional Investors 19%
FY19
FY20
FY21
FY22
FY23
Sep'23
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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
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Sustainability at Titan
Titan Kanya
Women’s Federation Meet Uttarakhand
Green Parking Area
Electro-Deionisation system
Volunteering – Tree Plantation
Oxygen roof garden over new building
Titan LeAP – Skilling and Vocational Training
EyeCare Employee engagement volunteering program for waste recycling
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Sustainability at Titan
Girl Child/ Education
Responsible Citizenship
•
•
Titan Kanya, Kanya+ and the holistic engagement programs of Kanya Sampurna developed programs for teaching learning materials, training facilitators and tutors, tracking enrolments of students at schools. These were put into action for implementation after schools reopening in June 2023 The science education program has started in all intervention areas with a focus on STEM education. The plan is to impart training to about 350 government school teachers as part of the program
• A new program called Digital Equaliser, a life skills program was introduced in the town of Tiruvannamalai in the
state of Tamil Nadu (TN) for students in grades 9 to 11
• Our initiatives and interventions to improve the lives of girl child have helped more than 67,000 girls
•
The Happy Eyes project has taken off very well and covers across all our interventions. We have reached out to 1.74 lakh individuals through this project
• We have done a formal launch of our volunteering program across the company – Titan Footprints. Engagement
•
of top management led by our Managing Director has been a hallmark in the volunteering engagement The program in Uttarakhand for multi-level development of 60 villages and to make them water smart is running successfully in its 2nd year
• Across all our CSR programs we have positively impacted the lives of 3.26 lakh individuals during the year
Affirmative Action
• MoU was signed with Department of Education & Training, Tamil Nadu for developing the 5 tribal Industrial Training Institutes (ITIs) in the state. We are extending support by facilitating industry connects capacity building etc. The second tribal entrepreneurship program too is under finalization
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Sustainability at Titan
Support for Indian Arts, Crafts & Heritage
•
The Design Impact movement with its focus on deeper deployment, has been launched and projects submissions from various colleges have been actively sought. These projects will be provided technical and business incubation support from Titan and the most deserving product solutions would be considered for market implementation
• A new strategy and focus for Project ‘Tarasha’ has been laid out under which, 15 craft enterprises have been identified for a comprehensive intervention for enterprise development. Workshops of digital literacy, business planning and craft specific up-skilling have been conducted for a variety of craft entrepreneurs and organisations
•
•
• •
Skill development for underprivileged
Key Initiatives (largely across ISCMs)
Skilling programs in the categories of ‘For employment’, ‘For employability’ and ‘Entrepreneurship/ Livelihood development’ programs started in the right earnest. Titan has tied up with Tamil Nadu Govt’s arm for deployment of ‘Naan Mudhalvan’ program for close to 25k youth personnel from colleges for enhancing their employability skills. 7,500 youth have been trained of which 300 of them were people with disabilities (PwD’s) and more than 50% of them underprivileged girls
Energy efficiency improvement projects targeting a 15% reduction in usage were commissioned. Of this the chilled water system header flow optimization was a project helping in energy reduction Recycling efforts for raw water reduction are continuing efforts across all of Titan’s manufacturing plants For 25% reduction in fuel consumption (an annual fuel reduction by 25,000 litres) and 70 tons carbon emission reduction multiple initiatives are in progress Introduction of a new EDI Electro-Deionisation system to treat STP water in watches Small solar rooftop installations continue in manufacturing plants
• • • AI based power distribution panel for reduction in power consumption is being examined • Use of material waste to create green parking area, including solar lighting in Eyecare manufacturing plant at Chikkaballapur • Many employee engagement initiatives towards environment sustainability • Creation of oxygen roof top through plantation in new Jewellery building
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