Titan Company Ltd.
Fundamental and Technical Analysis of Titan Company
STOCK ANALYSIS
10/18/20256 min read
About Company
Titan Company Limited is one of India’s leading lifestyle and consumer goods companies, part of the Tata Group, and headquartered in Bengaluru, Karnataka. It began operations in 1984 as a joint venture between Tata Group and Tamil Nadu Industrial Development Corporation (TIDCO). Initially known for watches under brands like Titan, Sonata, and Fastrack, the company later diversified into jewellery with Tanishq and CaratLane, eyewear through Titan Eyeplus, and lifestyle accessories such as perfumes (Skinn), bags, and Indian ethnic wear (Taneira). Titan is the fifth-largest watch manufacturer in the world and the largest branded jewellery maker in India, with jewellery contributing over 80% of its revenue. Known for its quality, design, and innovation, Titan continues to expand into new lifestyle categories while maintaining strong customer trust and a wide retail presence across India and abroad.
Business Segments
Titan Company Limited operates through four major business segments: Jewellery, Watches & Wearables, Eyecare, and Others. The Jewellery segment is the largest contributor, accounting for over 80% of Titan’s revenue, led by popular brands like Tanishq, Mia, Zoya, and CaratLane, which cater to a wide range of consumers from affordable to luxury markets. The Watches and Wearables segment includes renowned brands such as Titan, Fastrack, Sonata, and Helios, with an increasing focus on premium timepieces and smartwatches to attract young urban consumers. The Eyecare segment, operating mainly under the Titan Eye+ brand, offers prescription glasses, sunglasses, and contact lenses, emphasising quality, design, and transparency in pricing. The Others segment covers a mix of emerging lifestyle businesses including fragrances (Skinn), accessories, and ethnic apparel (Taneira), reflecting Titan’s strategy to diversify beyond its traditional product lines.
Company facilities
Titan Company Limited has state-of-the-art manufacturing and assembly facilities spread across several locations in India. Its main jewellery manufacturing units are located in Hosur (Tamil Nadu), Pantnagar (Uttarakhand), and Midnapore (West Bengal), supported by multiple karigar centres for handcrafted jewellery. The company’s watch and wearable production facilities operate in Hosur and Coimbatore, with assembly units in Roorkee, Pantnagar, and Sikkim, producing millions of timepieces annually. For its Eyecare division, Titan runs a modern manufacturing plant in Chikkaballapur, Karnataka, along with two advanced lens labs in Noida and Kolkata. The company’s corporate headquarters is situated in Electronic City, Bengaluru, with a strong focus on sustainability, inclusive employment, and technological innovation across its facilities.
Production capacity
Titan Company Limited has an impressive production capacity, especially in its watch segment, where the annual watch assembly production exceeds 15 million units, and movement assembly production surpasses 3 million units annually. The company's manufacturing and assembly facilities are strategically located across India, with significant investments totalling over USD 85 million in these sites. Titan holds around a 60% share in India’s organised watch market. This scale of production supports its vast retail footprint, which includes over 3,312 stores across 435 towns. Titan’s jewellery business also contributes substantially to its production scale, alongside its growing eyewear and emerging lifestyle product segments, which collectively support Titan's position as a leading lifestyle brand in India.
Future Plans
Titan Company Limited's plans focus on transforming into a broader lifestyle products company over the next 3-4 years. The company aims to expand its market presence beyond watches and jewellery by growing its eyewear, fragrances, accessories, and ethnic wear segments. It plans increased investments in technology, design innovation, and digital transformation to enhance customer engagement and operational efficiency. Titan also intends to deepen its footprint in omni-channel retail, combining physical stores with an enhanced e-commerce experience. Sustainability and inclusive growth remain core priorities in all its expansion efforts. Additionally, Titan is actively exploring new product categories and geographic markets to diversify revenue streams and strengthen its brand leadership in India and select international markets.
Financial Prospects of the Company
The market capitalization of the company is 3,26,244 crores
The current price of the stock is 3,675
The earning per share (EPS) of the company is 41.8
The price to earnings ratio (PE) ratio of the company is 87.9
The book value (PB) of the company is 131
The price to book value (PE x PB) of the company is 2,467
The return on equity (ROE) of the company is 31.8%
The return on capital employed (ROCE) is 19.1%
The company pays an annual dividend of 0.30%
Sale & profit of the company in the last 5 years
In FY 2020-21, sales were 21,644 crores and profits were 974 crores. In FY2021-22, sales were 28,799 crores and profits were 2,198 crores. In FY 2022-23, sales were 40,575 crores and profits were 3,274 crores. In FY 2023-24, sales were 51,084 crores and profits were 3,496 crores. In FY 2024-25, sales were 60,456 crores and profits were 3,337 crores.
Sales & profit growth in the last 5 years
In the last 5 years, sales growth was 23.5% and profit growth was 17.3%. In the last 3 years, sales growth was 28.0% and profit growth was 14.6%. In the last 1 year, sales growth was 21.5% and profit growth was 7.50%.
Investors
Shareholding Patterns
The promoter holds 52.90%, FIIs holds 16.11%, DIIs holds 13.99%, Government holds 0.19%, Public holds 16.76% and others holds 0.08%
Company News
Titan Company Limited continues to show robust performance and strong market confidence as of October 2025. The company’s stock has been trading near its record highs, reflecting investor optimism fueled by strong earnings forecasts and sustained growth momentum. Recently, brokerages such as Globe Capital have maintained positive ratings on Titan, highlighting projected revenue growth of 18-20% and a target stock price suggesting a potential upside. Titan's Q2 FY26 results conference call is scheduled for early November, with expectations of significant profit growth compared to the previous year. The company is actively focusing on expanding its market share through innovation, digital transformation, and new product lines, reinforcing its position as a leading lifestyle brand in India. Titan’s board meeting is also set to consider the unaudited financial results for the first half of 2025-26, indicating a transparent and structured approach to its corporate governance and financial disclosures.
Technical Analysis
Company Chart
Moving Average
The stock is trading above the 50-day moving average (MA), which indicates that the stock is in a bullish trend.
The stock is trading above the 200-day moving average MA, which is a strong indication that it is in a bullish trend.
Chart Pattern
Chart patterns show that the stock hits the resistance level and may face a short-term correction. If it breaks the resistance level, then its stock price will continue to grow in the near future.
Relative Strength Index (RSI)
Currently, the RSI of the stock is 67, which is almost near the over bough zone.
Strengths & weaknesses of the company
Strengths
Strong brand portfolio with leading brands like Tanishq (jewellery), Titan (watches), and Titan Eye+ (eyewear), which enjoy high consumer trust and loyalty.
Market leadership in India’s organised jewellery and watch segments, holding a significant market share, especially over 80% revenue from jewellery.
Wide and growing retail presence with over 3,300 stores across 435 towns, combined with expanding omni-channel capabilities.
Strong parentage under the Tata Group, providing financial stability, robust governance, and strategic support.
Continuous investment in technology, design innovation, and digital transformation to enhance customer experience and operational efficiency.
Diversified product portfolio expanding into fragrances, ethnic wear, and accessories, reducing reliance on core jewellery and watches.
Weaknesses
Heavy dependence on the jewellery segment, which contributes over 80% of revenue, making the company vulnerable to fluctuations in gold prices and regulatory changes.
Exposure to high competition from both organized and unorganized players in the jewellery and watch markets, which can impact price and margin pressures.
Limited international presence compared to global lifestyle and jewellery brands, which restricts growth opportunities outside India.
Sensitivity to economic cycles and consumer discretionary spending patterns, as its products are mostly in the discretionary spending category.