Titan Company Limited Reports Earnings Results for the Fourth Quarter and Full Year Ended March 31, 2024
May 03, 2024 at 11:50 am
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Titan Company Limited reported earnings results for the fourth quarter and full year ended March 31, 2024. For the fourth quarter, the company reported revenue was INR 126,530 million compared to INR 104,740 million a year ago. Net income was INR 7,710 million compared to INR 7,300 million a year ago. Basic earnings per share from continuing operations was INR 8.7 compared to INR 8.22 a year ago. Diluted earnings per share from continuing operations was INR 8.69 compared to INR 8.22 a year ago.
For the full year, revenue was INR 516,170 million compared to INR 408,830 million a year ago. Net income was INR 34,960 million compared to INR 32,500 million a year ago. Basic earnings per share from continuing operations was INR 39.4 compared to INR 36.61 a year ago. Diluted earnings per share from continuing operations was INR 39.38 compared to INR 36.61 a year ago.
Titan Company Limited specializes in the design, manufacture and marketing of watches, jewellery, eyewear and fashion accessories. Net sales break down by product family as follows:
- jewellery items (88.5%): gold jewellery decorated with diamonds and precious stones, pure gold and platinum jewellery (Tanishq, Zoya, Mia, Carat Lane and Gold Plus brands);
- watches (7.3%): sold under own brands (Titan, Fastrack, Sonata, Favre Leuba, Xylys and Nebula), and under license brands (Tommy Hilfiger, Police, FCUK, Annie Klein, Kenneth Cole and Esprit);
- eyewear (1.7%): eyeglasses, sunglasses, frames, lenses and contact lenses (Titan Eye Plus, Titan, Fastrack and Glares brands).
The balance of net sales (2.5%) concerns the distribution activities of perfumes (Skinn by Titan brand), saris (Taneira Sarees brand) and fashion accessories, as well as the manufacture of precision engineering products and industrial machinery.
Products are marketed through a network of 1,909 exclusive stores located in India, over 7,000 multi-brand outlets and via the Internet.
At the end of March 2021, the group had 11 production sites in India.
India accounts for 99.5% of net sales.
TITAN COMPANY LIMITED 
