Titan Company Limited · NSE:TITAN
Titan — Q3 FY2025 Earnings Presentation
60 slides from Titan's earnings presentation, Feb 4, 2025
Slide 1: Exchange filing cover letter
SEC 168 / 2024-25 4th February 2025 The General Manager, DCS – CRD The General Manager, DCS – CRD BSE Limited National Stock Exchange of India Ltd Corporate Relationship Department Exchange Plaza, 1st Floor, New Trading Ring Bandra-Kurla Complex, Rotunda Building, P J Towers Bandra (East), Dalal Str
Slide 2: Earnings Presentation for the Quarter and Nine months ended December 31, 2024
Titan Company Limited Earnings Presentation for the Quarter and Nine months ended December 31, 2024 Sensitivity: Internal
Slide 3: Disclaimer
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 re
Slide 4: About the Company
• The Titan Story • Our Journey So Far About the • Our Business Segments Company • Titan Brands • Titan Company Structure Executive Summary Executive Summary Business Performance Business Performance Financial Performance Financial Performance Other Updates Other Updates Sensitivity: Internal
Slide 5: India's most prestigious lifestyle products company
India’s Our Vision most We create elevating experiences for the people we touch and significantly impact the world we work in prestigious lifestyle products Our Mission company We will do this through a pioneering spirit and a caring, value-driven culture that fosters innovation, drives performance,
Slide 6: Our Journey So Far
Our Journey So Far Launch of Company incorporated, Launch of Demerged PED to JV between the Tata Launch of group and Tamilnadu State-of-the-art Industrial Development Jewellery making and Precision Engineering and merged Gold Plus Corporation facility inaugrated (PED) with Tanishq Launch of 1984 199
Slide 7: Titan Businesses (1/2)
Titan Businesses (1/2) Jewellery: India’s Leading Organised Jewellery Retailer Manufacturing facilities in Hosur, Pantnagar and ~8% 15%+ Midnapore; India Market FY24 Digitally Product Development share1 influenced sales Centre in Mumbai Watches & Wearables: India’s Leading Watches Brand 2 Manufactur
Slide 8: Titan Businesses (2/2)
Titan Businesses (2/2) Indian Dress Wear: Finest range of pure handcrafted weaves from across the country Weavershala is an initiative by Taneira towards supporting 100+ 80+ weavers with technical expertise Exclusive Brand and improving their working Clusters2 Outlets conditions Fragrances: India’s
Slide 9: Titan Brands - Segmentation Landscape
Titan Brands - Segmentation Landscape Watches & Indian Dress Fashion Segments Jewellery EyeCare Fragrances Wearables Wear Accessories Luxury Premium Mid-Market Mass Market 8 Sensitivity: Internal
Slide 10: Titan Brands - Size of Business
Titan Brands - Size of Business Watches & Indian Dress Fashion Gross UCP Jewellery EyeCare Fragrances Wearables Wear Accessories ₹50,000 cr ₹5,000 cr ₹1,000 cr ₹500 cr ₹100 cr < ₹100 cr (Not to scale) Note: 1. FY24 Gross UCP (Uniform Consumer Price) is used for the above illustration 2. The position
Slide 11: Titan Company Structure
Titan Company Structure Titan Company Limited 100% 100% 100% 100% 100% Titan CaratLane Titan Holdings Titan Engineering & TCL North Trading Private International Commodity Automation America Inc Limited FZCO, Dubai Trading Limited Limited (TEAL) Minority stake 100% 100% CueZen TEAL USA Inc. Inc. 100
Slide 12: Executive Summary
About the Company About the Company • Titan at a Glance Executive • Management Commentary Summary • Q3FY25 Standalone Highlights • Q3FY25 Consolidated Highlights Business Performance Business Performance Financial Performance Financial Performance Updates Other Other Updates Sensitivity: Internal
Slide 13: Titan at a Glance
Titan at a Glance ₹549 bn ₹2,889 bn 3,240 4.60 mn TTM Total Income (1) Market Capitalization (2) Stores Retail Area sq. ft. ~12.2 k 11 ~40 mn 431 Manufacturing and Employees on roll Assembly Facilities Encircle Members Town Presence Note: 1. Total Income excludes bullion and digi-gold sales 2. Marke
Slide 14: Management Commentary
Management Commentary “The festive quarter gone by firmly established the FY25 growth trajectory after a muted Q1 and healthy Q2. Jewellery saw its strongest quarter (yet) for the fiscal year, growing well in excess of 25% at a retail level. Consumer preference for gold, as adornment jewellery and a
Slide 15: Q3FY25: Standalone Highlights
Q3FY25: Standalone Highlights Jewellery Watches & Wearables EyeCare Emerging Businesses Titan Company 90 91 8 7 1 1 1 1 +24.2% +25.5% 16,228 14,697 13,071 +14.9% Total Income 11,709 +16.2% 1,128 982 +5.4% 194 167 118 112 Q3FY24 Q3FY25 Q3FY24 Q3FY25 Q3FY24 Q3FY25 Q3FY24 Q3FY25 Q3FY24 Q3FY25 97 93 4 7
Slide 16: Q3FY25: Consolidated Highlights
Q3FY25: Consolidated Highlights Jewellery Watches & Wearables EyeCare Other Businesses Titan Company 89 90 7 6 1 1 2 2 +24.6% +26.3% 17,582 Total Income 15,848 +15.3% -0.3% 14,110 12,552 1,137 +16.7% 313 312 986 196 168 Q3FY24 Q3FY25 Q3FY24 Q3FY25 Q3FY24 Q3FY25 Q3FY24 Q3FY25 Q3FY24 Q3FY25 4 7 1 1 0
Slide 17: Business Performance
About the Company About the Company Executive Summary Executive Summary • Jewellery • Watches and Wearables Business • EyeCare Performance • Emerging Business • International Business • TEAL Financial Performance Financial Performance Updates Other Other Updates Sensitivity: Internal
Slide 18: Jewellery (Domestic): Quarterly Performance
Jewellery (Domestic): Quarterly Performance • Domestic business clocked a robust growth of c.25% YoY to ₹14,190 crs. The festive quarter brought consumer cheer with secondary sales recording an impressive c.28% Particulars (₹ cr) Q3FY24 Q3FY25 YoY% growth YoY buoyed by higher gold prices (YoY), wedd
Slide 19: CaratLane: Quarterly Performance
CaratLane: Quarterly Performance • Total Income grew c. 27% YoY to ₹1,117 cr • Revenue from the Studded category (excl. solitaires) grew c.24% YoY and other Particulars (₹ cr) Q3FY24 Q3FY25 YoY% categories (gold jewellery, gold coins, solitaires etc.) grew 40% YoY Total Income 880 1,117 26.9% • Buye
Slide 20: Jewellery: Retail Network
Jewellery: Retail Network Brand Particulars Sep'24 QTD Additions Dec'24 (Net) Stores - Domestic (#) 486 11 497 Stores - International (#) 16 2 18 Area sq. ft. (mn) 2.25 0.10 2.35 Town Presence (#) 290 7 297 Stores - Domestic (#) 207 13 220 Stores - International (#) 2 - 2 Area sq. ft. (k) 168 17 185
Slide 21: Business Performance
About the Company About the Company Executive Summary Executive Summary • Jewellery • Watches and Wearables Business • EyeCare Performance • Emerging Businesses • International Business • TEAL Financial Performance Financial Performance Updates Other Other Updates Sensitivity: Internal
Slide 22: Watches & Wearables (Domestic): Quarterly Performance
Watches & Wearables (Domestic): Quarterly Performance • Domestic Business Revenue growth of c.14% YoY to ₹1,104 cr for the quarter was Particulars (₹ cr) Q3FY24 Q3FY25 YoY% primarily driven by strong growth of c.20% YoY in analog watches Domestic 968 1,104 14.0% • Within analog, Titan brand led the
Slide 23: Watches & Wearables: Retail Network
Watches & Wearables: Retail Network Brand Particulars Sep'24 QTD Additions Dec'24 (Net) Stores (#) 688 12 700 Area sq. ft. (k) 483 9 492 Town Presence (#) 334 3 337 Stores (#) 256 10 266 Area sq. ft. (k) 188 8 196 Town Presence (#) 95 2 97 Stores (#) 227 1 228 Area sq. ft. (k) 109 0 110 Town Presenc
Slide 24: Business Performance
About the Company About the Company Executive Summary Executive Summary • Jewellery • Watches and Wearables Business • EyeCare Performance • Emerging Business • International Business • TEAL Financial Performance Financial Performance Updates Other Other Updates Sensitivity: Internal
Slide 25: EyeCare (Domestic): Quarterly Performance
EyeCare (Domestic): Quarterly Performance • Revenue from domestic operations grew c.16% YoY to ₹193 cr led by healthy double Particulars (₹ cr) Q3FY24 Q3FY25 YoY% digit volume growth Domestic 166 193 15.8% • International brands, particularly, registered a strong growth of c.56% YoY; House Internati
Slide 26: EyeCare: Retail Network
EyeCare: Retail Network Brand Particulars Sep'24 QTD Additions Dec'24 (Net) Stores - Domestic (#) 904 (3) 901 Stores - International (#) 4 - 4 Area sq. ft. (k) 579 3 582 Town Presence (#) 349 (3) 346 Stores (#) 1 - 1 Area sq. ft. (k) 0.5 - 0.5 Town Presence (#) 1 - 1 Stores (#) 1 - 1 Area sq. ft. (k
Slide 27: Business Performance
About the Company About the Company Executive Summary Executive Summary • Jewellery • Watches and Wearables Business • EyeCare Performance • Emerging Business • International Business • TEAL Financial Performance Financial Performance Updates Other Other Updates Sensitivity: Internal
Slide 28: Emerging Businesses: Quarterly Performance
Emerging Businesses: Quarterly Performance • In Emerging Businesses (excluding the discontinued Belts & Wallets business), o Women's Bags clocked a growth of c.25% YoY led by new store openings Particulars (₹ cr) Q3FY24 Q3FY25 YoY% o Fragrances recorded a strong growth of c.27% YoY led by c.23% YoY
Slide 29: Emerging Business: Retail Network
Emerging Business: Retail Network Brand Particulars Sep'24 QTD Additions Dec'24 (Net) Stores (#) 81 1 82 Area sq. ft. (k) 239 3 242 Town Presence (#) 41 1 42 Stores (#) - 2 2 Area sq. ft. (k) - 1 1 Town Presence (#) - 2 2 28 Sensitivity: Internal
Slide 30: Business Performance
Executive Summary Executive Summary • Jewellery • Watches and Wearables Business • EyeCare Performance • Emerging Business • International Business • TEAL Financial Performance Financial Performance Updates Other Other Updates Sensitivity: Internal
Slide 31: International Businesses (Consolidated): Quarterly Performance
International Businesses (Consolidated): Quarterly Performance Jewellery International Total Income (₹ Crores) • Revenue from International operations of Jewellery business grew c.64% YoY to Total Income (₹ cr) Q3FY24 Q3FY25 YoY% ₹569 cr Jewellery 346 569 64.2% • The YoY growth was largely led by gr
Slide 32: Business Performance
About the Company About the Company Executive Summary Executive Summary • Jewellery • Watches and Wearables Business • EyeCare Performance • Emerging Business • International Business • TEAL Financial Performance Financial Performance Updates Other Other Updates Sensitivity: Internal
Slide 33: TEAL: Quarterly Performance
TEAL: Quarterly Performance • Total Income reduced c.4 % YoY to ₹ 193 Cr Particulars (₹ cr) Q3FY24 Q3FY25 YoY% Total Income 202 193 (4%) • Within Divisions, Automation Solutions (AS) Revenue declined c.14 % YoY and Manufacturing Services* (MS) Revenue grew c.12 % YoY EBIT 25 33 31% • The AS business
Slide 34: Financial Performance
About the Company About the Company Executive Summary Executive Summary Business Performance Business Performance • Statement of Profit and Loss Financial • Segment Performance Performance • Capital Employed • Financial Trends Updates Other Other Updates Sensitivity: Internal
Slide 35: Statement of Profit and Loss: Standalone
Statement of Profit and Loss: Standalone Q3FY24 Q3FY25 YoY% Particulars (₹ crores) YTDFY24 YTDFY25 YoY% 12,932 16,097 24.5% Operating Revenue 33,044 39,573 19.8% 13,071 16,228 24.2% Total Income 33,404 39,949 19.6% 1,596 1,641 2.8% EBITDA 4,275 4,230 (1.1%) 12.2% 10.1% (210) bps % 12.8% 10.6% (221)
Slide 36: Statement of Profit and Loss: Consolidated
Statement of Profit and Loss: Consolidated Q3FY24 Q3FY25 YoY% Particulars (₹ crores) YTDFY24 YTDFY25 YoY% 13,974 17,454 24.9% Operating Revenue 35,640 43,077 20.9% 14,110 17,582 24.6% Total Income 36,014 43,447 20.6% 1,701 1,802 5.9% EBITDA 4,475 4,527 1.2% 12.1% 10.2% (181) bps % 12.4% 10.4% (201)
Slide 37: Segment Performance: Q3FY25
Segment Performance : Q3FY25 Total Income (₹ crores) EBIT (₹ crores) EBIT Margin (%) Particulars Q3FY24 Q3FY25 YoY% Q3FY24 Q3FY25 YoY% Q3FY24 Q3FY25 YoY Jewellery 11,709 14,697 25.5% 1,432 1,398 (2.4%) 12.2% 9.5% (272) bps Watches & Wearables 982 1,128 14.9% 55 111 101.8% 5.6% 9.8% 424 bps EyeCare 1
Slide 38: Segment Performance: YTDFY25
Segment Performance : YTDFY25 Total Income (₹ Crores) EBIT (₹ Crores) EBIT Margin (%) Particulars YTDFY24 YTDFY25 YoY% YTDFY24 YTDFY25 YoY% YTDFY24 YTDFY25 YoY Jewellery 29,354 35,339 20.4% 3,637 3,433 (5.6%) 12.4% 9.7% (268) bps Watches & Wearables 2,964 3,450 16.4% 317 420 32.5% 10.7% 12.2% 148 bp
Slide 39: Capital Employed: Standalone
Capital Employed: Standalone Jewellery Watches & Wearables EyeCare Emerging Businesses Titan Company Assets 20,884 36,983 32,329 17,255 5,616 4,262 15,973 Equity 3,508 3,391 13,658 677 534 2,987 621 427 2,395 Liabilities 13,747 15,268 253 307 250 226 21,010 18,671 996 1,275 370 371 201 281 Dec-23 De
Slide 40: Capital Employed: Consolidated
Capital Employed: Consolidated Jewellery Watches & Wearables EyeCare Other Businesses Titan Company Assets 35,415 24,224 30,557 20,091 5,538 10,788 Equity 4,367 1,509 8,730 4,333 3,470 1,326 682 635 3,093 723 Liabilities 609 18,686 2,453 307 258 24,627 15,758 21,827 375 377 717 786 1,017 1,274 Dec-2
Slide 41: Consolidated: Quarterly Performance Trends
Consolidated: Quarterly Performance Trends Total Income (₹ cr) and YoY Growth (%) 37% 17,582 26% 21% 24% 24% 21% 25% 25% 16% 19% 10% 12% 13% 14,110 11% 2.1% 13,556 -3.9% -0.4% 12,308 -10% 11,383 11,069 10,835 11,440 10,040 9,419 9,131 8,742 7,319 7,526 7,356 7,497 6,550 5,208 4,693 4,753 9MFY25: 43,
Slide 42: Consolidated: Annual Performance Trend
Consolidated: Annual Performance Trend Total Income (₹ cr) and YoY Growth (%) PBT (₹ cr) and PBT Margin (%) PAT (₹ cr) and PAT Margin (%) 47,454 4,623 4,447 3,496 38,675 3,274 11.5% 10.6% 8.5% 9.9% 9.7% 7.9% 27,988 2,958 7.0% 7.4% 2,198 21,204 37% 38% 2,102 20,474 6.5% 4.8% 1,493 23% 1,327 974 6.2%
Slide 43: Consolidated: Annual Segment Trend
Consolidated: Annual Segment Trend Jewellery Watches & Wearables EyeCare Total Income (₹ cr) and YoY Growth (%) Total Income (₹ cr) and YoY Growth (%) Total Income (₹ cr) and YoY Growth (%) 41,361 726 3,930 689 33,706 3,310 544 517 46% 43% 24,478 2,622 38% 2,317 33% 36% 38% 375 17,319 17,963 19% 1,5
Slide 44: Other Updates
About the Company About the Company Executive Summary Executive Summary Business Performance Business Performance Financial Performance Financial Performance • Dividend Other • Shareholding information Updates • Awards & Recognition • ESG at Titan Sensitivity: Internal
Slide 45: Dividend
Dividend Note: 1. Amounts in Orange boxes refer to Total Dividend Payout in ₹ Crores 44 Sensitivity: Internal
Slide 46: Shareholding Information
Shareholding Information Shareholding Pattern as at 31 December 2024 Stock Information BSE Ticker 500114 NSE Ticker TITAN 18.54% BSE Market Capitalization (Sep 30, 2024) ₹2.9 lakh crores Number of Shares Outstanding 88.78 crores 4.50% 5.95% 52.90% BSE Market Capitalization (₹ Crores) 18.11% 337,780
Slide 47: Awards & Recognitions
Awards & Recognitions • Economic Times ‘Business Leader of the Year 2023’ - Mr. C K Venkataraman • ‘Forbes Top 30 Talent Leaders 2024’ – Mr. Swadesh Behera • ET Now ‘Best Organization for Customer Experience’ in 2024 • ICICI Lombard-CNBC TV18 India ‘Risk Management Award for Regulatory Compliance Ma
Slide 48: ESG at Titan – Overview
ESG at Titan – Overview Environment Sourced Water storing capacity 1.72 crore units 5,440 enhanced by of renewable energy for our manufacturing plants and trees planted 1,751 lakh offices (FY24) litres Social Empowered Gender Diversity 16,000+ 41,000+ 7 Lakh+ 21,000+ Individual lives Individuals ski
Slide 49: Annexures
Annexures Sensitivity: Internal
Slide 50: Jewellery: Quarterly Trends (Standalone)
Jewellery: Quarterly Trends (Standalone) Total Income (₹ cr) and YoY Growth (%) 37% 10,763 14,697 11,709 24% 23% 26% 26% 18% 19% 19% 19% 9,879 13% 16% 11% 11% 8.9% -1.5% -2.3% 8,563 9,518 9,070 8,575 8,998 -5.8% -4.2% 7,600 7,203 7,576 6,249 6,397 6,106 6,132 5,409 4,047 3,528 3,754 3,446 2,467 YTDF
Slide 51: Jewellery: Quarterly Trends (Consolidated)
Jewellery: Quarterly Trends (Consolidated) Total Income (₹ cr) and YoY Growth (%) 39% 15,848 25% 23% 24% 26% 26% 22% 21% 14% 16% 18% 12% 13% 12,552 10% 11,671 0.1% -1.6% -2.8% 10,730 -5.0% 10,131 9,754 9,792 9,005 9,263 7,995 7,515 8,065 6,496 6,653 6,379 6,468 5,606 4,164 3,899 FY24: 41,361; 23% 3,
Slide 52: Watches & Wearables: Quarterly Trends (Standalone)
Watches & Wearables: Quarterly Trends (Standalone) Total Income (₹ cr) and YoY Growth (%) 40% 1,301 29% 32% 1,128 20% 21% 21% 19% 12% 15% 13% 1,092 15% 15% 6.4% 4.9% 7.9% 1,021 -2.4% -0.3% 982 940 811 871 890 -12% 785 829 715 719 687 708 625 622 557 550 555 400 292 FY23: 3,296; 43% FY24: 3,904; 18%
Slide 53: Watches & Wearables: Quarterly Trends (Consolidated)
Watches & Wearables: Quarterly Trends (Consolidated) Total Income (₹ cr) and YoY Growth (%) 41% 1,304 29% 32% 20% 21% 22% 19% 1,137 12% 14% 16% 12% 6.1% 5.1% 1,092 6.3% 4% -2.2% 0.2% 986 1,023 883 913 939 -12% 830 786 811 716 720 689 710 627 625 558 551 559 401 293 76 FY23: 3,310; 43% FY24: 3,930; 1
Slide 54: EyeCare: Quarterly Trends (Standalone)
EyeCare: Quarterly Trends (Standalone) Total Income (₹ cr) and YoY Growth (%) 28% 26% 23% 13% 18% 12% 16% 11% 11% 6.9% 2.9% 5.1% 4.9% 0.6% 3.0% -7.0% -4.0% -16% 203 209 201 188 194 183 174 160 167 165 167 166 149 154 156 133 124 127 134 108 94 67 30 FY24: 724; 5.1% YTDFY25: 604 FY22: 517; 38% FY23:
Slide 55: Statement of Profit and Loss: Standalone
Statement of Profit and Loss: Standalone Profit and Loss statement Q3FY24 Q3FY25 YoY% YTDFY24 YTDFY25 YoY% (in ₹ Crores) 12,912 16,053 24.3% Sale of products / services 32,918 39,426 19.8% 140 44 (69%) Other operating revenue 2,939 1,939 (34.0%) 139 131 (5.8%) Other Income 360 376 4.4% 13,191 16,228
Slide 56: Statement of Profit and Loss: Consolidated
Statement of Profit and Loss: Consolidated Profit and Loss statement Q3FY24 Q3FY25 YoY% YTDFY24 YTDFY25 YoY% (in ₹ Crores) 13,963 17,550 25.7% Sale of products / services 35,522 43,246 21.7% 201 190 (5%) Other operating revenue 3,068 2,294 (25%) 136 128 (6%) Other Income 374 370 -1.1% 14,300 17,868
Slide 57: Sustainability at Titan – Key Initiatives – Q3FY25 (1/2)
Sustainability at Titan – Key Initiatives – Q3FY25 - (1/2) • IIMPACT organized a virtual training on Mother Literacy with collaboration with Devi Sansthan • Empowered lives of 22,000+ girls through Titan Kanya and 17,800+ girls through Kanya Sampurna programs Girl child / • Academic intervention pro
Slide 58: Sustainability at Titan – Key Initiatives – Q3FY25 (2/2)
Sustainability at Titan – Key Initiatives – Q3FY25 - (2/2) • Happy Eyes program continues to achieve its objectives. Titan has initiated camps in TamilNadu and Karnataka and screened more than 67,000 beneficiaries Responsible • Organized an Eye Camp in Jaunpur, Uttarakhand together with Mission for
Slide 59: Glimpses of ESG Activities in Q3FY25
Glimpses of ESG Activities in Q3FY25 Inauguration of home-based biogas Awarded Best plants at Jompanahalli by MD Leading Organization Empowering Innovative Technology Vvolunteering Venkataraman CK Persons with Disabilities IVDP II was awarded @18th CII IIMPACT learning center visit by Board Kanchipu
Slide 60: Thank You!
Thank You! For any queries, please email to investor-relations@titan.co.in Sensitivity: Internal