Titan Company Limited
Add to watch list to get report alerts
BSE Code:
500114
NSE Code:
TITAN
Business Profile
Business Profile
Titan Industries (TITAN) started as a joint venture between the Tata group and Tamil Nadu Industrial Development Corporation in 1984 for manufacturing and marketing of watches. The main areas of business for the company include watches, jewellery and precision engineering products. The company diversified into jewellery in 1995, marketing under the brand name `Tanishq`.
Watches are sold under the brand name Titan & Sonata. Of late, Titan has acquired a license to market the premium watch brand Tommy Hilfiger and has diversified into fashion eyewear.
The company`s precision engineering division manufactures dashboard clocks as OEM to car manufacturers in Europe and America & supplies components to the avionics and automotive industry. Its manufacturing facilities are located in Hosur, Dehradun and Himachal Pradesh. Time products and jewellery contribute equally to revenues but margins in jewellery are lower on account of excise duties on branded jewellery.
The company plans to include more brands in its servicing network at its watch care centers and explore opportunities in the servicing of mobile phone brands and other Swiss watch brands, pens and cameras. It also plans to get more exclusive licenses for marketing and distributing global brands in India.
Financials
Titan Industries disclosed a phenomenon drop in standalone net profit for the quarter ended December 2008. During the quarter, the profit of the company declined 61.84% to Rs 117.70 million from Rs 308.40 million in the same quarter last year. Net sales for the quarter rose 25.88% to Rs 10,240.30 million, while total income for the quarter rose 25.91% to Rs 10,250 million, when compared with the prior year period. The company reported earnings of Rs 2.65 a share during the quarter, registering 61.87% decline over previous year period.
Recent Developments
17-DEC-08
The company has announced the launch of Orion, a unique range of watches inspired by the astral wonders of the universe.
01-DEC-08
The company has India`s leading watch manufacturer announced that it had unveiled an extraordinary collection of watches specially made for the visually impaired called Braille Watches.