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14 August 2020

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Titan Company Ltd (Diamond Cutting / Jewellery)

Last Price 1,104.15
Net Changes 6.50
Volume 4149226
Prev Close 1,097.65
1,104.15 6.50 (0.59%)
Date: Aug 14,2020 EOD




Index Details Diamond Cutting / Jewellery


Chart

Stock Price Details

Market Statistics

Open Price 1061 Div Yield (%) 0.36
Buy (Size) 1,102.30(×111) Eps(Rs) 9.88
Sell (Size) 1,102.30(×8) Book Value (Stand.)(Rs) 76.88
Value 466550210 Book Value(conso.)(Rs) 75.1166093
Buy Quantity 111 Market Cap(Rs.Cr) 97860.67
Sell Quantity 8 Face Value(Rs) 1
Today's High 1118.45 Market Lot 1
Today's Low 1061 AGM Date Aug
52-Week High 1389.85 Book Closure Date Aug
52-Week Low 720 ISIN No. INE280A01028

Share Holding Pattern

  No Of shares % Share Holding
Total Foreign (Promoter & Group) 0 0.00
Indian (Promoter & Group) 469701920 52.91
Total of Promoter 469701920 52.91
Non Promoter (Institution) 254939380 28.72
Non Promoter (Non-Institution) 163144860 18.38
Total Non Promoter 418084240 47.09
Total Promoter & Non Promoter 887786160 100.00
Custodians(Against Depository Receipts) 0 0.00
Grand Total 887786160 100.00

Company News

12-Aug-2020  Titan Company Ltd - Titan Company Limited - Copy of Newspaper...
Titan Company Ltd - Titan Company Limited - Copy of Newspaper Publication

Titan Company Limited has informed the Exchange about Copy of Newspaper Publication for unaudited financial results for the first quarter ended 30th June 2020
11-Aug-2020  Titan Co. slumps after dismal Q1 numbers
Titan Co. slumps after dismal Q1 numbers

Revenue from operations stood at Rs 1979 crore in Q1 June 2020, tumbling 61.5% from Rs 5151 crore in the same period last year.

During the quarter, the company sold gold-ingots aggregating Rs 601 crore to various customers dealing in bullion, which is disclosed as other operating revenues. The sale was done to reduce inventory given the low level of sales due to the disruptions in activity.

Titan reported a pre-tax loss of Rs 361 crore in Q1 June 2020 as against a profit before tax of Rs 520 crore in Q1 June 2019. The company received a tax rebate of Rs 64 crore in Q1 June 2020 as against total tax expense of Rs 156 crore in the corresponding period last year.

On a standalone basis, Titan reported a net loss of Rs 270 crore in Q1 June 2020 compared with net profit of Rs 371 crore in Q1 June 2019. Revenue from operations declined 62% year-on-year to Rs 1862 crore in Q1 June 2020 over Q1 June 2019.

The disruption caused by the COVID-19 pandemic affected company's performance severely with retail outlets closed for a major part of the quarter. The lockdowns impacted the company's operations significantly in the months of April and May 2020 as most stores were forced to shut down. While stores started opening in May, post Unlock 1.0, even as at end of June 2020, only 83% of all the stores opened and even for stores that opened, many of them were not operating for all days.

The Tata Group Enterprise said that the recovery rate of revenue started improving slowly and as of June it was 21% for the Watches and Wearables division, 77% for the Jewellery division and 25% for the Eyewear division. Consumer sentiment was impacted severely due to the economic downturn, people being forced to remain indoors for extended periods of time as most people worked from home and the perceived risk of going out to public spaces. Further with most weddings in the quarter being postponed, demand for wedding jewellery was affected.

With the negative consumer sentiment prevailing in the quarter, discretionary spends were very low, and specifically impacted company's Watches business and diamond studded jewellery in the Jewellery business. Plain gold jewellery sales, however, recovered better than expected in June despite high gold prices.

The impact of the lockdown resulted in the jewellery division recording an income of Rs 1,783 crore for the quarter ending June 2020 as compared to Rs 4,047 crore in June 2019, a decline of 56%. The Watches business was impacted far more and recorded an income of Rs 75 crore in Q1 June 2020 against Rs 715 crore in Q1 June 2019, registering a decline of 90%. The Eyewear business also was impacted with revenues declining by 80% in the quarter, recording an income of Rs 30 crore in Q1 June 2020 as against Rs 149 crore in Q1 June 2019.

The company's subsidiaries, Titan Engineering and Automation (TEAL) did well despite the pandemic with revenues of Rs 76 crore (decline of 19%). CaratLane, being in the consumer discretionary space was hit by the pandemic and ended with a revenue of Rs 42 crores (decline of 68%) and a net loss of Rs 19 crore for the quarter ending June 2020.

Commenting on company's performance, C K Venkataraman, Managing Director said, 'The severity of the disruption in business due to the pandemic impacted the Company's performance resulting in an unprecedented loss for the company. The recovery in business, particularly in the jewellery business is encouraging and we expect to get back to normalcy by the fourth quarter of this year. The company's reassessment of its cost structure during this period and inherently strong Balance Sheet, will help it to create a stronger base for a sustainably higher profit margin business.'

11-Aug-2020  Titan Company Ltd - Titan Company Limited - Investor Presentat...
Titan Company Ltd - Titan Company Limited - Investor Presentation

Titan Company Limited has informed the Exchange about Investor Presentation
10-Aug-2020  Titan Company incorporates subsidiary - Titan Commodity Trading
Titan Company incorporates subsidiary - Titan Commodity Trading

Titan Company has incorporated a wholly owned subsidiary company 'Titan Commodity Trading' on 10 August 2020.
10-Aug-2020  Titan Company reports consolidated net loss of Rs 291.00 crore...
Titan Company reports consolidated net loss of Rs 291.00 crore in the June 2020 quarter

Net loss of Titan Company reported to Rs 291.00 crore in the quarter ended June 2020 as against net profit of Rs 363.74 crore during the previous quarter ended June 2019. Sales declined 73.15% to Rs 1368.00 crore in the quarter ended June 2020 as against Rs 5095.10 crore during the previous quarter ended June 2019.

ParticularsQuarter Ended
 Jun. 2020Jun. 2019% Var.
Sales1368.005095.10 -73
OPM %-18.7911.24 -
PBDT-268.00595.73 PL
PBT-361.00519.78 PL
NP-291.00363.74 PL
10-Aug-2020  Titan reports net loss of Rs 297 cr in June quarter
Titan reports net loss of Rs 297 cr in June quarter

Revenue from operations stood at Rs 1979 crore in Q1 June 2020, tumbling 61.5% from Rs 5151 crore in the same period last year.

During the quarter, the company sold gold-ingots aggregating Rs 601 crore to various customers dealing in bullion, which is disclosed as other operating revenues. The sale was done to reduce inventory given the low level of sales due to the disruptions in activity.

Titan reported a pre-tax loss of Rs 361 crore in Q1 June 2020 as against a profit before tax of Rs 520 crore in Q1 June 2019. The company received a tax rebate of Rs 64 crore in Q1 June 2020 as against total tax expense of Rs 156 crore in the corresponding period last year.

On a standalone basis, Titan reported a net loss of Rs 270 crore in Q1 June 2020 compared with net profit of Rs 371 crore in Q1 June 2019. Revenue from operations declined 62% year-on-year to Rs 1862 crore in Q1 June 2020 over Q1 June 2019.

The disruption caused by the COVID-19 pandemic affected company's performance severely with retail outlets closed for a major part of the quarter. The lockdowns impacted the company's operations significantly in the months of April and May 2020 as most stores were forced to shut down. While stores started opening in May, post Unlock 1.0, even as at end of June 2020, only 83% of all the stores opened and even for stores that opened, many of them were not operating for all days.

The Tata Group Enterprise said that the recovery rate of revenue started improving slowly and as of June it was 21% for the Watches and Wearables division, 77% for the Jewellery division and 25% for the Eyewear division. Consumer sentiment was impacted severely due to the economic downturn, people being forced to remain indoors for extended periods of time as most people worked from home and the perceived risk of going out to public spaces. Further with most weddings in the quarter being postponed, demand for wedding jewellery was affected.

With the negative consumer sentiment prevailing in the quarter, discretionary spends were very low, and specifically impacted company's Watches business and diamond studded jewellery in the Jewellery business. Plain gold jewellery sales, however, recovered better than expected in June despite high gold prices.

The impact of the lockdown resulted in the jewellery division recording an income of Rs 1,783 crore for the quarter ending June 2020 as compared to Rs 4,047 crore in June 2019, a decline of 56%. The Watches business was impacted far more and recorded an income of Rs 75 crore in Q1 June 2020 against Rs 715 crore in Q1 June 2019, registering a decline of 90%. The Eyewear business also was impacted with revenues declining by 80% in the quarter, recording an income of Rs 30 crore in Q1 June 2020 as against Rs 149 crore in Q1 June 2019.

The company's subsidiaries, Titan Engineering and Automation (TEAL) did well despite the pandemic with revenues of Rs 76 crore (decline of 19%). CaratLane, being in the consumer discretionary space was hit by the pandemic and ended with a revenue of Rs 42 crores (decline of 68%) and a net loss of Rs 19 crore for the quarter ending June 2020.

Commenting on company's performance, C K Venkataraman, Managing Director said, 'The severity of the disruption in business due to the pandemic impacted the Company's performance resulting in an unprecedented loss for the company. The recovery in business, particularly in the jewellery business is encouraging and we expect to get back to normalcy by the fourth quarter of this year. The company's reassessment of its cost structure during this period and inherently strong Balance Sheet, will help it to create a stronger base for a sustainably higher profit margin business.'

Shares of Titan rose 1.57% to Rs 1107.80 in today's trading session. The scrip traded in the range of Rs 1084.85 to Rs 1114.35 so far during the day.

06-Aug-2020  Titan Company Ltd - Titan Company Limited - Analysts/Instituti...
Titan Company Ltd - Titan Company Limited - Analysts/Institutional Investor Meet/Con. Call Updates

Titan Company Limited has informed the Exchange about Analysts/Institutional Investor Meet/Con. Call Updates
04-Aug-2020  Titan Company Ltd - Titan Company Limited - Loss of Share Cert...
Titan Company Ltd - Titan Company Limited - Loss of Share Certificates

Titan Company Limited has informed the Exchange about Loss of Share Certificates
03-Aug-2020  Titan Company Ltd - Titan Company Limited - Cessation
Titan Company Ltd - Titan Company Limited - Cessation

Titan Company Limited has informed the Exchange regarding Cessation of Mrs Hema Ravichandar as Independent Director of the company w.e.f. July 31, 2020.
23-Jul-2020  Titan Company schedules board meeting
Titan Company schedules board meeting

Titan Company will hold a meeting of the Board of Directors of the Company on 10 August 2020.
Incorporation Year 1984 
Registered Office 3 SIPCOT Industrial Complex,,
Hosur,
Tamil Nadu-635126
Telephone 91-4344-664199 
Fax 91-4344-276037 
Chairman N Muruganandam
Managing Director C K Venkataraman
Company Secretary Dinesh Shetty 
Auditor BSR & Co LLP 
Face Value(Rs)
Market Lot
Listing BSE,MSEI,NSE 
Registrar TSR Darashaw Consultants P Ltd
6-10 Haji Moosa,Patrawala Ind.Estate,DrEMoses Rd Mahalaxm,Mumbai - 400 011 
Toll Free number: 1800-425-5501 / 1800-103-5501
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