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Titan Company Limited

TITAN.NS
51
Luxury Goods · Consumer Cyclical
Price
₹5026.90
-72.10 (-1.41%)
Market Cap
₹4.46T
Exchange
National Stock Exchange of India
Winston Score
51
Winston is curious
Mixed quality — meaningful strengths and weaknesses.
Data as of Aug 13, 2026 · filings through Jun 30, 2026

Titan Company Limited is an Indian consumer goods company that makes and sells watches, jewelry, eyewear, and accessories. Its most famous brands include Tanishq (jewelry), Titan and Fastrack (watches), and Titan Eye+ (eyewear). It sells to everyday Indian consumers as well as premium buyers, and it is one of India's largest organized jewelry retailers.

Titan earns money primarily through retail sales at its thousands of stores across India, with jewelry making up the vast majority of its revenue. The company is a subsidiary of the Tata Group, one of India's most trusted conglomerates, which gives it strong brand recognition and consumer trust. Titan operates almost entirely within India, though it has some international presence. Its biggest growth driver is the ongoing shift of Indian jewelry buyers from unorganized local jewelers to trusted branded retailers — but rising gold prices and thin margins in the jewelry segment remain a persistent risk to profitability.

Winston Score History

Growth Profile

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+38.2% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+36.3% YoY

YoY Growth Rate

EPS growth accelerating

R&D Spend

$0/ year

Declining (-100% vs prior year)

0.0% of revenue

Below sector average (4%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

62.7%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

$0 cash & investments

Company generates more cash than it spends — no dilution risk from fundraising

Revenue accelerating

Titan Company Limited grew revenue 38% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Share count broadly stable

0.1% over 4y

The share count has stayed roughly flat over this period — little dilution or buyback activity.

Diluted shares outstanding: 887.8M (2022) → 887.0M (2026)

Score breakdown

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Quality

Gross Margin
20.4%
Thin — 20.4% gross margin
Operating Margin
12.3%
Healthy — 12.3% operating margin
ROCE
6.1%
Weak — 6.1% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales YoY
+30.9%
Fast-growing sales (+30.9% YoY)
EPS YoY
+55.3%
Earnings growing fast (+55.3% YoY)

Earnings growing 25%+ a year. The compounder zone.

EPS Consistency
6/8 quarters
Earnings grew in most of the last 8 quarters

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Cash Flow

Cash Conversion
60%
Weak — only 60% of profit becomes cash
FCF Margin
3.8%
Thin free cash flow (3.8%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

Debt / Equity
1.75
Elevated debt (1.75)
Interest Cover
5.02x
Adequate interest coverage (5.0x)

Interest coverage between 3 and 8. Profits cover interest several times over.

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Valuation

P/E Ratio (TTM)
77.3x
Expensive — P/E 77.3

P/E over 35. The market is pricing in heavy, sustained growth.

P/E vs Forward
+28.2
GROWING
Earnings expected to grow meaningfully — cheaper on forward P/E (77.3 → 49.2)

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Dividends

Dividend Yield
0.30%
Small dividend — 0.30% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend Growth
-96.1%
Dividend cut (-96.1% YoY) — warning sign

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