AnnouncementSep 2026
Sep 2026 · Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 4 Sep - Titan schedules additional analyst and institutional investor meetings on 10-11 September 2026.
Source: Bse
Titan Company Limited (TITAN)
Large CapConsumer stocks · Large cap · NSE
Titan Company Limited is an Indian consumer lifestyle company with divisions in Jewellery (Tanishq, CaratLane), Watches, Eyecare, and precision engineering (TEAL). It focuses on organized retail and brand equity in the Indian market, with a growing international presence through subsidiaries like Damas.
Data qualityFresh enough for analysisQuote updated 19 Oct, 03:31 pm ISTDetails
Quote19 Oct, 03:31 pm IST
Base fundamentals17 Oct 2026 · screener
Latest result16 Aug, 12:34 am IST
Score20 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags02 May 2026
Coverage14/14 · 100%
Valuation2026-07-20 · Rf 6.8% · Consumer P/E 22.2 (n=441)
Technical timing lens
Trend score and candlestick chart
33BearishSMA20 -8.4% / mo · MACD − · sector -3.7pp vs Nifty 500 (3M)
Stock trend: 30
Sector RS: 36
Sector 3M: -9.3% vs Nifty 500 -5.6%
Consumer FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
TITAND candles · FIT view+0.3%Latest close ₹4424.20 on 2026-10-19
Bar
-0.6%
RSI
34
MACD hist
-2.21
52W pos
50%
2026-10-19O ₹4452.00H ₹4494.40L ₹4402.70C ₹4424.20Vol 6.5L sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
TITANNifty Consumer DurablesNifty 500
- TITAN
- -4.7%
- Nifty 500
- -5.6%
- Nifty Consumer Durables
- -9.7%
- Vs Nifty 500
- +0.9 pp
Chart stats
19 Oct 2026- From 52W high
- -14.7%
- 52W range position
- 55%
- ATR (14)
- 2.0%
- Volume vs 20D
- 0.74x
- Avg traded value
- ₹391 Cr
- 20D price channel
- ₹4,335.6 - ₹4,982
₹5,186.7
₹3,506.5 - ₹5,186.7
₹90.2
Latest completed session
20-session average
24.3% annualized volatility
Research snapshot
What the evidence says now
Mixed fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend argues for patience, and recent execution is consistent.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · FAIR VALUE46
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Excellent90
Revenue +29.3% · PAT +62.9% YoY
Technical
Bearish33
Price trend and sector-relative-strength timing.
Valuation
Legacy model-104.7%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence80
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Excellent · 90/100Rev +29% YoY · PAT +63% YoY · margin expansion · operating leverage
Filed 30 Jun 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹21,356 Cr | +29.3% | -20.7% |
| EBITDA | ₹2,890 Cr | +57.9% | +49.1% |
| Operating margin | 14.0% | +300 bps | +700 bps |
| PAT | ₹1,777 Cr | +62.9% | +50.7% |
| PAT margin | 8.3% | +172 bps | +394 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 67.60
- P/B
- 25.11
- EV/EBITDA
- 41.23
- Market Cap
- 394603.00Cr
Profitability
- ROE
- 37.70%
- ROCE
- 20.50%
- ROA
- 9.51%
- Dividend Y
- 0.34%
Growth (CAGR)
- Revenue 5Y
- 32.00%
- EPS 5Y
- 40.00%
- Revenue 3Y
- 29.00%
- EPS 3Y
- 17.00%
Balance Sheet
- Debt/Equity
- 1.95
- Interest Coverage
- 7.46×
- Altman Z
- 7.77
- Book Value
- 177.00
Cash Flow
- FCF Yield
- 0.67%
- FCF Positive Y
- 10/5
- OCF
- 5590.00 Cr
- EPS TTM
- 64.89
Shareholding
- Promoter Hold
- 52.90%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 51%
Financial History
Updated 20/10/2026
Revenue
₹ CrLatest: 87.6k+44.9% vs prev
Net Profit
₹ CrLatest: 5,073+52.0% vs prev
Return on Equity
%Latest: 32.3+12.5% vs prev
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Mixed signalsSignals are conflicting — long-term trend down. RSI 34. Wait for confirmation.
- Price below SMA200 (long-term downtrend) — short-term bounces likely countertrend.
- SMA20 falling (~9.2% over last month) — short-term momentum negative.
- RSI(14) at 34 — rising, no extreme reading.
- MACD below signal but histogram contracting — bearish momentum easing.
- 15% off 52W high · 21% above 52W low.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
76
RS percentile
Stage 1 Base / Transition
1M return
-7.8%
3M return
-4.7%
6M return
-0.7%
1Y return
+19.0%
RS 1D
+2
RS 20D
-5
Sector rank
#8
Industry rank
-
Stage evidence
- Price is within 2.3% of the 30-week proxy.
- The 30-week proxy changed +1.2% over 20 sessions.
- The moving-average structure does not confirm Stage 2 or Stage 4.
50-DMA
price below
200-DMA
price below
Sector
neutral
Industry
unranked
Relative-strength line vs Nifty 500 (base 100)
262 observations
19 Oct 2026Value 137.02+0.57%
RS vs Nifty 500137
Valuation & peers
U-Score 46 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Valuation & peers
U-Score 46 · legacy U-Score band FAIR VALUE · valuation evidence and comparable companies
Premium Compounder
Fundamental score breakdown
U band · FAIR VALUEValuation0/30
Growth14/25
Quality18/20
Balance Sheet3/15
Cash Flow6/10
Piotroski
7/9 (+5)
Penalties
0
Raw sum
46
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
46/100 · legacy band FAIR VALUE
Positive drivers
- Piotroski is strong at 7/9.
- Quality contributes 18/20 to the score.
- Cash flow contributes 6/10 to the score.
Main drags
- Fair-value margin of safety is negative at -104.7%.
- Valuation is weaker at 0/30; verify the latest quarterly trend.
- Balance sheet is weaker at 3/15; verify the latest quarterly trend.
Sector valuation model
Consumer valuation: PE/PEG and brand-quality premium
Consumer franchises can deserve higher multiples, but only when growth quality supports them.
Primary lens
PE and PEG relative to growth, ROE, margins, and brand strength.
Secondary checks
Volume growth, pricing power, distribution, same-store or category growth.
Main risk check
Premium valuation needs durable growth and margin resilience.
PE
67.6
PB
25.1
EV/EBITDA
41.2
ROE
37.7%
ROCE
20.5%
FCF Yield
0.7%
Debt/Equity
1.9
MoS
-104.7%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 20 Oct 2026
v4.3-runtime-valuation
Final score
46
Previous: 46
Legacy U-Score band
FAIR VALUE
Previous: FAIR VALUE
Margin of safety
-104.7%
Previous: -104.7%
Score history
12 stored score snapshots. Latest stored move: +0 points.
20 Oct 2026
v4.3-runtime-valuation
46
46
46
46
46
46
46
46
46
46
46
46
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹508.35
-770.3% MoS
Growth-justified P/E
33.3
Growth-justified Value
₹2,160.84
-104.7% MoS
PEG
2.19
Comparable companies
Peers
Business-comparable peers in Consumer — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
BANARBEADS
Small
Banaras Beads Limited
Consumer Goods
match 117
10
40.4
3.1%
-675%
OVERVALUED
BAJAJCON
Small
Bajaj Consumer Care Limited
Consumer Goods
match 116
46
24.6
24.7%
-325%
FAIR VALUE
GOLDENTOBC
Small
Golden Tobacco Limited
Consumer Goods
match 116
43
7.8
—
+83%
WATCHLIST
HINDUNILVR
Large
Hindustan Unilever Limited
Consumer Goods
match 115
61
40.3
31.0%
+35%
UNDERVALUED
KOKUYOCMLN
Small
Kokuyo Camlin Limited
Consumer Goods
match 115
34
50.2
6.2%
-41%
WATCHLIST
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis intactReviewed 2026-06-12T01:25:01.580Z
Management commentary snapshot
Titan reports superlative Q4 FY26 top-line growth across all businesses and brands, with full-year international business achieving operating profitability for the first time.
Management's consistent 15-20% Jewellery growth guidance for the medium term, coupled with strong Q4 performance and strategic initiatives like the gold exchange program and LGD expansion, suggests the growth thesis remains intact. Gold price volatility and competitive pressures are acknowledged but managed.
Growth engines
Formalization of Jewellery Industry
The formalization of the Jewellery industry continues to be a strong underlying factor for growth, benefiting organized players with stronger balance sheets and trusted brands.
India Growth Story
The overall India growth story provides a strong tailwind for the consumer sector, including Jewellery, supporting sustained demand.
Gold Exchange Program
The gold exchange program, successfully run since Q3, helps get buyers in and is being sustained as a standalone and integrated campaign, resonating with consumers.
New Jewellery Categories
Launch of natural gemstone Jewellery ('Hues') aims to create another engine of growth by adding a new dimension beyond gold and studded Jewellery, targeting design seekers.
Capacity and execution
beYon (LGD) Store Expansion
Plans to expand beYon (LGD platform) to around 10 to 12 stores in two to three cities, with a bunch of stores expected in Q1 FY27, before a national launch.
Eyecare Store Revamping
20 Eyecare stores were net closed in Q4 as part of a journey to revamp the look and feel of the network, enhancing overall appeal.
Tailwinds
Formalization of Jewellery Industry
The formalization of the Jewellery industry continues to be a very strong underlying factor for growth, benefiting organized players.
India Growth Story
The India growth story supports sustained interest and demand in the Jewellery category.
Manufacturing Sector Growth
TEAL business benefits from India manufacturing growth, government incentives, and international clients adopting a China Plus One strategy.
Interest in Precious Jewellery
High gold prices have actually created more interest in the Precious Jewellery category across segments, for both investment and adornment.
Headwinds
Gold Price Volatility
Volatility in gold prices can impact consumer sentiment and product mix, making margin prediction difficult.
GCC Market Unpredictability
The GCC market, where Damas and Tanishq operate, continues to be an evolving and unpredictable situation, impacting Q4 international business.
CaratLane ERP Migration
A big platform-level shift from legacy ERP to Oracle Fusion created some operational challenges for CaratLane in January and first half of February.
Risk radar
Gold Sourcing & Cost
While covered for Q1 FY27, delays in import license renewals by DGFT and potential increases in gold metal loan costs (currently stable) remain a watch point.
Margin Pressure from Gold Prices
Sustained high or increasing gold prices can impact margins due to product mix shifts, despite efforts in lightweight and lower-carat Jewellery.
Competitive Intensity
Competition has become 'business as usual' with organized players adding stores across geographies, requiring continuous strategic response.
Macro Sentiment
Macro sentiment can always impact consumer discretionary spending, though management believes the 15-20% growth guidance accounts for such factors over the long term.
Management accountability
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare BOTH
Q4 results are compared YoY for overall growth, but sequential trends are also discussed for buyer growth and gold price impact, which influence short-term performance and consumer behavior.
Sector KPIs management disclosed
Jewellery Buyer Growth
Buyer growth in Q4 FY26 was 8%, a resurgence compared to flattish growth in the prior nine months, aided by gold rate anxiety, wedding purchases, and diamond campaigns.
Jewellery Average Ticket Size
Ticket size increased by 44% and 40% over the past two quarters, primarily due to consistent gold rate increases. This benefit may continue for Q1 and Q2 FY27.
Jewellery EBIT Margin (Domestic)
Domestic Jewellery EBIT margin has been within the 11-11.5% band. Sustainability is difficult to predict due to gold price impact on product mix, requiring efforts like 18/14-carat and lightweight Jewellery.
Watches Analog Contribution
Analog watches contribute around 85%, now closer to 90%, of the Watches division's revenue. Overall Watches division grew 14% for the year.
Management forward view
Jewellery Growth Guidance
Management expects 15-20% CAGR growth for the Jewellery business over a three to five-year horizon, irrespective of gold rate volatility, driven by formalization and India's growth.
International Business Profitability
International business became profitable at the operating level for the full year FY26, the first time since scaling up, despite Q4 challenges in GCC.
Focus on Jewellery Accessibility & Excitement
The company is focused on making Jewellery both exciting and accessible through initiatives like exchange programs, 18/14-carat gold, lightweight designs, and new collections.
Upcoming Investor Day
An Investor Day is planned for the first week of June to provide a more informed view on margin sustainability and overall strategy.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| Jewellery Buyer Growth | 8% in Q4 FY26 | Sustainability of buyer growth, especially if gold prices stabilize or decline, and the continued effectiveness of exchange programs and campaigns. |
| Gold Price Trajectory | Stabilizing at a fairly high level | Impact on consumer behavior (preponement/postponement of purchases) and the company's ability to manage product mix and margins. |
| Damas/International Business Performance | Full-year operating profitable, Q4 loss of ₹82 crores due to GCC challenges and transfer pricing adjustment. | Improved disclosure and sustained operational improvement and integration in the GCC market over the next two to three quarters. |
| beYon (LGD) Store Rollout & Performance | 2 stores, planning 10-12 stores in 2-3 cities in Q1 FY27. | Traction and performance of new stores, customer adoption, and management's decision on a national launch for the LGD platform. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Show extracted source claims
demand outlooknot yet verifiable
The exchange program is expected to continue yielding rewards for buyer growth going forward.
Timeframe: Going forwardDirection: PositiveConfidence: Moderate
"it will give us rewards even going forward"
demand outlooknot yet verifiable
The exchange program is expected to continue yielding rewards for buyer growth going forward.
Timeframe: Going forwardDirection: PositiveConfidence: Moderate
"it will give us rewards even going forward"
operational efficiencynot yet verifiable
No increase in gold loan costs is foreseen in the short term.
Timeframe: Short termDirection: StableConfidence: High
"we don't see any increase in cost in gold loans, at least in the short term"
operational efficiencynot yet verifiable
No increase in gold loan costs is foreseen in the short term.
Timeframe: Short termDirection: StableConfidence: High
"we don't see any increase in cost in gold loans, at least in the short term"
operational efficiencynot yet verifiable
Titan is not concerned about gold supply in the short term for Tanishq and Caratlane.
Timeframe: Short termDirection: StableConfidence: High
"not concerned in the short term as far as gold supply is concerned"
operational efficiencynot yet verifiable
Titan is not concerned about gold supply in the short term for Tanishq and Caratlane.
Timeframe: Short termDirection: StableConfidence: High
"not concerned in the short term as far as gold supply is concerned"
operational efficiencynot yet verifiable
Titan is very positive about the integration and operational improvement of its international business (Damas) beyond the next two to three quarters.
Timeframe: Beyond two to three quartersDirection: ImprovementConfidence: Very High
"we are very, very positive about the aspects of whatever is happening in the integration, the operational improvement"
operational efficiencynot yet verifiable
Titan is very positive about the integration and operational improvement of its international business (Damas) beyond the next two to three quarters.
Timeframe: Beyond two to three quartersDirection: ImprovementConfidence: Very High
"we are very, very positive about the aspects of whatever is happening in the integration, the operational improvement"
Trust Score
80Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 90th percentile of the scored universe and 93rd percentile within Consumer. No major sub-score weakness stands out.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 20 Oct 2026
management-trust-v1
146 docs text-extracted · 41 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
90th percentile
overall median 67 · Consumer: 93rd pctile, median 66 · Large: 77th pctile, median 73
Evidence depth
Financial-only
146 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
4 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Can support position sizing if valuation and trend also agree.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
78
strong · holding, pledge, alignment
Cash flow
77
strong · profit to cash conversion
Balance sheet
69
acceptable · leverage and solvency
Discipline
90
strong · capital discipline
Results
87
strong · quarterly consistency
Trust positives
- ▸Promoter pledge is zero.
- ▸FCF yield is positive at 0.7%.
- ▸10 years of positive FCF.
- ▸ROCE is 20.5%.
Trust risks
- ▸Debt/equity is 1.95.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Titan Company Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 17 Sep - Schedule of Analysts / Institutional Investors Meeting
Source: Bse
Credit rating
Announcement under Regulation 30 (LODR)-Credit Rating 11 Sep - CARE reaffirmed Titan’s ratings: A1+ on CP, AAA Stable on long-term facilities, and A1+ on bank facilities.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 7 Sep - Notice of Loss of Share Certificate - Disclosure under Regulation 30 of SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 7 Sep - Special Window for transfer and dematerialisation (demat) of physical shares
Source: Bse
Investor presentationAug 2026
Aug 2026 · PPT
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 18 Aug - Newspaper Publication for Postal Ballot Notice and E-Voting Intimation to Members
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 17 Aug - Titan schedules one-on-one investor meeting with First Seniter Investor Group on 21-Aug-26.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 14 Aug
Source: Bse
Announcement
Announcement Under Regulation 30 Of SEBI LODR 2015 14 Jul - Titan received income tax penalty orders for AY 2017-18 and 2019-20 totaling INR 4.27 crore; appeal planned.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 4 Jul - Newspaper advertisement regarding Notice of the 42nd Annual General Meeting
Source: Bse
Annual report
Reg. 34 (1) Annual Report. 3 Jul
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.