Titan Company Ltd
TITANTitan Company Ltd's earnings have outrun its stock. EPS grew +52.0% in a year against a +40.2% price move.
The sharpest disagreement: profits are rising, but only 57% of the last 3 years' profit arrived as operating cash — the gap between the P&L and the bank account is the thing to watch.
The price is in a confirmed uptrend (67 weeks in) while the P/E sits at the 46th percentile of its own 11-year range. Underneath, the last four quarters read improving — profit +62.9% year on year, and 57% of the last 3 years' profit arrived as cash. What settles it: whether the cash starts following the profit.
Price story Before the numbers, the tape. A stock price moves through four repeating seasons: a flat base (stage 1), an advance (2), a top (3), a decline (4). Where the price sits in that cycle frames everything below.
Titan Company Ltd trades at ₹5,005, in a confirmed uptrend and 67 weeks into that stage. That is +14.0% against its own 200-day average. It sits at 89% of a 52-week range of ₹3,715 to ₹5,165. On relative strength it has been ahead of the NIFTY 500 on a trailing-13-week view for 10 straight weeks.
Today the stock is in a confirmed uptrend — week 67 of stage 2, confirmed. At ₹5,005 it trades +14.0% versus its 200-day average and sits at 89% of its 52-week range (₹3,715–₹5,165).
Against the market, two honest reads. Cumulative: over the last 10.5 years the stock moved +1,414% while the NIFTY 500 moved +273% — ahead of the index over the full window. Recent form: on a trailing-13-week view the stock has been ahead for 10 straight weeks — the ribbon below is that same metric, week by week.
What would end the trend, mechanically: two Friday closes in a row below the 200-day line. That is the exit rule — no debates.
Story check
Titan Company Ltd's story is not scored yet against the markers our research file set on 22 August 2026. Where it sits in its own cycle: MID_CONTRACTION. Our fortnightly research layers last read it on 22 August 2026.
Our read, 22 August 2026. A structural compounder at 49th PE percentile — gold-price turbulence compresses near-term product margins while organized-retail formalization drives 20%+ earnings growth.
From the numbers. Titan trades at 77.3x PE (49th percentile of 10-year range), sitting at its 10-year median (77.3x). Multiple contraction (-52.3% from Dec 2020 peak of 162.1x) is entirely earnings-driven, as quarterly PAT compounded…
From the price. Price stage 2, week 67 — above its 200-day line, relative strength rising.
From the research. A structural compounder at 49th PE percentile — gold-price turbulence compresses near-term product margins while organized-retail formalization drives 20%+ earnings growth.
🚨 Where they disagree. Titan trades at 77.3x PE (49th percentile of 10-year range), sitting at its 10-year median (77.3x). Multiple contraction (-52.3% from Dec 2020 peak of 162.1x) is entirely earnings-driven, as quarterly PAT compounded from Rs 704 Cr in Sep 2024 to Rs 1,777 Cr in Jun 2026. Institutional FII selling of 350 bps over 7 quarters has created an orderly de-rating to median valuation.
What is proven. A structural compounder at 49th PE percentile — gold-price turbulence compresses near-term product margins while organized-retail formalization drives 20%+ earnings growth.
What is not proven yet. Jewellery buyer volume growth turning negative for two consecutive quarters alongside sustained Tanishq domestic EBIT margins falling below 9.5%, indicating that gold inflation has permanently broken consumer accessibility and halted formalization market share gains.
🚨 What would change our mind. Jewellery buyer volume growth turning negative for two consecutive quarters alongside sustained Tanishq domestic EBIT margins falling below 9.5%, indicating that gold inflation has permanently broken consumer accessibility and halted formalization market share gains.
Layer 1 read, 22 August 2026 — KEEP. Great retailer, but last quarter leaned on a one-off refund and the growth is gold price, not more customers. Titan keeps taking share from unorganised jewellers — 50 to 60 basis points of it in FY26 — and that is a real, durable engine. But the headline numbers are flattering it right now. Profit jumped 62.9% partly because of a Rs 407 crore customs-duty realisation and an inventory revaluation that management itself said were temporary, and once you strip those out the core jewellery margin actually FELL to 10.9% from 11.3%. Meanwhile the number of people buying grew only 5% while the average bill grew 44-45% — the rupees are rising because gold is, not because more customers are walking in. At 77 times earnings and sitting at its all-time-high price with no valuation cushion, that combination…
What would change Layer 1’s mind. Two consecutive quarters of NEGATIVE buyer-volume growth together with the normalised Tanishq domestic margin falling below 9.5% — that would say gold inflation has permanently broken affordability and stopped the share gain, and it flips this to a drop. In the other direction, Q2 FY27 jewellery margin holding at or above 10.5% once the customs-duty and mark-to-market benefits are gone, with buyer growth back above 5%, would prove the core is compounding on its own and take this to P1.
Layer 2 read, 22 August 2026 — ADVANCE. Advance because formalisation is intact, but require a clean quarter after temporary duty profit reverses. Titan is still gaining market share and buyer growth remains positive, so the structural thesis has not broken. The external sector work confirms that the latest profit included temporary duty and inventory gains and that normalised jewellery margin fell. The sector capital atom supports the cycle, but the MIXED alignment and guidance changes keep this at P2.
What would change Layer 2’s mind. Negative buyer growth for two consecutive quarters together with normalised Tanishq, Mia and Zoya EBIT margin below 9.5% after the duty gain reverses would flip ADVANCE to DROP.
Layer 3 read, 22 August 2026 — BENCH. Formalisation still works, but gold pressure and the Damas loss make this a poor entry today. The targeted searches align with Timeline R1 and R3: normalized jewellery margin fell to 10.9% from 11.3%, and Damas became loss-making as war reduced footfall. Management also walked back its jewellery margin floor and missed CaratLane's margin guidance. Market share still gained 50-60 basis points, so the thesis is intact, but at 77.3 times earnings the bundle labels the absolute valuation RICH.
What would change Layer 3’s mind. Two consecutive quarters of negative buyer growth together with domestic jewellery margin below the 9.5% thesis break level would escalate commodity risk to HIGH and flip BENCH to DROP.
The test written in advance. Jewellery buyer volume growth turning negative for two consecutive quarters alongside sustained Tanishq domestic EBIT margins falling below 9.5%, indicating that gold inflation has permanently broken consumer accessibility and halted formalization market share gains. — the thesis as written as stated by the next result.
The test written in advance. Gold Price Trajectory & Product Mix Margin Compression — Gold Price Trajectory & Product Mix Margin Compression Quarterly jewellery segment EBIT margin prints and gold coin contribution to product mix. by the next result.
The test written in advance. Management Guidance Consistency & Margin Floor Retreats — Management Guidance Consistency & Margin Floor Retreats Jewellery EBIT margin delivery in Q2 FY27 against the stated 11% full-year centre of gravity. by the next result.
What the company does. Q1 FY27 delivered revenue +29.2% YoY (Rs 21,356 Cr) and PAT +62.9% YoY (Rs 1,777 Cr) with OPM expanding to 14%, though Rs 407 Cr customs duty realization and inventory MTM supported reported numbers. PE ratio at 77.3x sits at the 49th percentile of its 10-year range (1.0x median of 77.3x), representing earnings-driven multiple contraction from its 162.1x peak despite ongoing FII selling. Management execution delivered 50-60 bps annual market share gains, but the abandonment of the 11-11.5% jewellery margin floor in May 2026 highlights margin sensitivity to gold price spikes.
| Dial | Now | Was | Why it matters | Watch line |
|---|---|---|---|---|
| Organized Sector Formalization & Market… | HIGH | — | Accelerating market share gains (50-60 bps in FY26) as elevated gold prices drive consumer preference toward trusted national… | Regional competitors match national brand trust through widespread hallmarking compliance and aggressive price discounting. |
| Gold Exchange & Accessibility Architecture | in play | — | Old gold exchange contributions (40-50% of sales) and lightweight/lower-caratage innovations buffer consumer affordability… | Consumers pause gold recycling or gold price volatility triggers sharp margin compression in exchange transactions. |
| International Expansion & Damas Integration | MEDIUM_HIGH | — | Damas 67% stake acquisition and international store rollouts expand retail footprint across GCC and North American markets. | Prolonged geopolitical conflict in the GCC permanently impairs tourist footfalls and retail sentiment across Dubai and Saudi Arabia. |
| Subsidiary Engines Scaling — CaratLane &… | MEDIUM | — | CaratLane 22-23% revenue growth with 10-11% target EBITDA margins alongside TEAL aerospace and defense manufacturing expansion. | CaratLane fails to stabilize operating margins above 10% or TEAL experiences execution delays in aerospace component supply. |
🚨 What the surface reading misses. The surface reading is: PE ratio of 77.3x appears expensive on an absolute level for a consumer retail business. The research reads it further: At 77.3x, the multiple sits exactly at its 10-year historical median (49th percentile), down 52.3% from its Dec 2020 peak of 162.1x. The compression is entirely earnings-driven (TTM net profit grew from Rs 974 Cr in FY21 to over Rs 5,700 Cr), reflecting sustained market share gains and 37.7% ROE.
Lever 1 · Operating leverage — BUILDING. Accelerating market share gains (50-60 bps in FY26) as elevated gold prices drive consumer preference toward trusted national brands. What proves it keeps working: Organized Sector Formalization & Market Share Gains. It stops working if Regional competitors match national brand trust through widespread hallmarking compliance and aggressive price discounting.
Lever 3 · Management change — BUILDING. Old gold exchange contributions (40-50% of sales) and lightweight/lower-caratage innovations buffer consumer affordability against gold spikes. What proves it keeps working: Gold Exchange & Accessibility Architecture. It stops working if Consumers pause gold recycling or gold price volatility triggers sharp margin compression in exchange transactions.
Lever 2 · Value-added mix — BUILDING. Damas 67% stake acquisition and international store rollouts expand retail footprint across GCC and North American markets. What proves it keeps working: International Expansion & Damas Integration. It stops working if Prolonged geopolitical conflict in the GCC permanently impairs tourist footfalls and retail sentiment across Dubai and Saudi Arabia.
Lever 8 · Demerger or value unlock — BUILDING. CaratLane 22-23% revenue growth with 10-11% target EBITDA margins alongside TEAL aerospace and defense manufacturing expansion. What proves it keeps working: Subsidiary Engines Scaling — CaratLane & TEAL. It stops working if CaratLane fails to stabilize operating margins above 10% or TEAL experiences execution delays in aerospace component supply.
Sources: our stock research file (22 August 2026) · quarterly results through Jun 26 · the company’s own earnings calls. The story check is re-scored every results season; the record below never changes.
Revenue Revenue is the top line: everything the company billed its customers in the period.
Titan Company Ltd reported ₹21,356 Cr of revenue in the Jun 26 quarter, +29.3% year on year. That is the 12th straight quarter of year-on-year growth. Over 10 years it has compounded at 22.8% a year. The last full year, FY26, came in at ₹87,584 Cr. The last four reported quarters add to ₹92,417 Cr.
FY26 revenue came in at ₹87,584 Cr (+44.9% on the year), capping 10 years at 22.8% compound. The latest quarter (Jun 26) printed ₹21,356 Cr, +29.3% year on year — the 12th consecutive quarter of year-over-year growth.
Pace check: the last four quarters averaged +45.5% growth against the decade's 22.8% — the current year is running faster than its own long-run rate.
Acceleration check: trailing-twelve-month revenue grew +45.1% over the last 4 quarters against +32.7%/yr over the last 8 — accelerating; TTM profit +55.1% vs +29.1%/yr — accelerating.
FY26-Q4. revenue ₹26,920 Cr and profit ₹1,179 Cr as reported.
FY27-Q1. revenue ₹21,356 Cr and profit ₹1,777 Cr as reported.
Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters.
Operating margin Operating margin is what is left of every ₹100 of sales after running the business, before interest and tax. It is the cleanest read on pricing power and cost control.
Titan Company Ltd's operating margin is 14.0% in the Jun 26 quarter, +3.0 percentage points against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 8.0% to 12.0%. The current quarter is running above every full year in that window.
Why this happened. Titan gained 50-60 basis points of market share in FY26 as higher gold prices accelerated consumer migration from regional/unorganized jewelers toward hallmarked, trusted brands like Tanishq. Customer preference for verifiable purity and transparent exchange programs provides a multi-year tailwind for organized retail consolidation.
The latest quarter's operating margin is 14.0%, +3.0 pp against the same quarter a year ago. Across 13 fiscal years the operating margin has ranged 8.0%–12.0%.
Why the margin moved: operating margin went +2.4 pp year on year while gross margin went +2.9 pp — the gain came mostly from the gross line: input costs and pricing.
FY26-Q4. revenue ₹26,920 Cr and profit ₹1,179 Cr as reported.
FY27-Q1. revenue ₹21,356 Cr and profit ₹1,777 Cr as reported.
Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters.
Net profit Net profit is what survives every cost, interest and tax — the number EPS, dividends and book value all grow from.
Titan Company Ltd earned ₹1,777 Cr of net profit in the Jun 26 quarter, +62.9% year on year. It is the 6th consecutive quarter of growth. Full-year FY26 profit was ₹5,073 Cr. The 10-year compound rate is 22.3%. That is 8.3% of the quarter's revenue. The same quarter a year earlier earned ₹1,091 Cr.
Jun 26 profit was ₹1,777 Cr, +62.9% year on year — the 6th consecutive quarter of growth. On the full year, FY26 printed ₹5,073 Cr (+52.0%), and the 10-year compound rate is 22.3%.
Why profit moved: revenue contributed +29.3% and the margin +3.0 pp — the quarter was margin-led: most of the profit growth came from keeping more of each sale.
Pace comparison, last four quarters: profit +54.6% vs revenue +45.5%. Profit is growing faster than sales — fixed costs are being spread over a bigger base, and each extra rupee of revenue drops more to the bottom line.
FY26-Q4. revenue ₹26,920 Cr and profit ₹1,179 Cr as reported.
FY27-Q1. revenue ₹21,356 Cr and profit ₹1,777 Cr as reported.
Why-sources: our stock research file (22 August 2026) and the company’s own results for those quarters.
Cash flow — the router The P&L says what was earned; the cash-flow statement says what actually arrived. Operating cash flow (CFO) against profit is the cleanest lie detector in the accounts.
Over the last 3 fiscal years 57% of Titan Company Ltd's reported profit arrived as operating cash — a gap worth watching. In FY26 that was ₹5,590 Cr of operating cash against ₹5,073 Cr of profit. After ₹3,700 Cr of capital spending, ₹1,890 Cr was left as free cash.
FY26: operating cash of ₹5,590 Cr against reported profit of ₹5,073 Cr, leaving free cash of ₹1,890 Cr after ₹3,700 Cr of capital spending. Across the last 3 fiscal years the conversion rate is 57% of profit.
Cash-flow readings here are annual — that is the resolution our series carries, so this section moves once a year.
🚨 Why conversion sits at 57%: the cash cycle stretched 35 days between FY21 and FY26 — more of each rupee of profit waits inside the cycle before arriving. Less than 70% of profit arriving as cash is the thing to watch on this page.
Router verdict: conversion is below par and the cash cycle has stretched 35 days — the next section's job is to find where the cash is stuck.
Where the cash goes Working capital is the cash tied up between paying suppliers and getting paid: debtor days (customers owe), inventory days (stock waits), and the cash conversion cycle (the whole loop, in days of sales).
Titan Company Ltd's cash conversion cycle runs 211 days in FY26, up from 176 days in FY21. Capital spending ran ₹6,002 Cr over the last 3 years. At FY26 sales of ₹87,584 Cr each day of that cycle holds about ₹240 Cr, so roughly ₹50,631 Cr sits inside the business at any moment.
FY26: debtors at 4 days, inventory at 222 days — roughly 7.3 months of stock waiting to sell; that is where the cash sits while it waits — for a full cycle of 211 days, looser than FY21's 176.
The full loop: cash goes out to suppliers and production on day 0; stock waits 222 days to sell; customers pay about 4 days after that; and suppliers themselves are paid at 15 days — netting out to the 211-day cycle.
In money terms: at FY26 sales of ₹87,584 Cr, each day of the cycle holds about ₹240 Cr — so the 211-day loop keeps roughly ₹50,631 Cr sitting inside the business at any moment.
On the investment side: capital spending of ₹6,002 Cr over the last 3 fiscal years against ₹2,103 Cr of depreciation — the company is building well ahead of wear-and-tear. Capital work-in-progress stands at ₹163 Cr (FY26) — capacity paid for but not yet earning.
The synthesis: the working-capital loop is the cash sink the router flagged — watch the cycle, not the P&L.
Return on capital Return on capital employed (ROCE) is the profit the whole business earns on all the money in it — equity and debt together. It is the single best test of whether growth creates value or just size.
Titan Company Ltd earns a ROCE of 21% in FY26. That is up from a trough of 13% in FY21. Return on invested capital clears the cost of that capital by +2.9 percentage points, so growth here adds value rather than only size. The wiring behind it is 5.8% net margin on 1.45× asset turns.
FY26 ROCE is 21%, recovered from a FY21 trough of 13% — the full ladder below shows the fall and the climb, undoctored.
Why the return is what it is — the wiring (FY26): 5.8% net margin × 1.45× asset turns × 3.86× balance-sheet leverage ≈ 32.5% on equity. Margin does its share; leverage is a meaningful part of the equation.
The capstone test — ROIC − WACC: 14.9% − 12.0% = a +2.9 pp spread. The 12.0% is a standing assumption for the cost of capital in India, not a per-stock estimate — read the sign and the size of the spread, not the decimals. Positive but thin — value creation with little room for error.
Debt Debt-to-equity says how much of the business is funded by borrowings. Low is the safe corner; the trend matters as much as the level.
Titan Company Ltd carries total debt of ₹30,621 Cr against shareholder equity of ₹15,703 Cr as of Jun 26, a debt-to-equity of 1.95. On the annual view that ratio went from 0.78 in FY22 to 1.95 in FY26. Read the returns elsewhere on this page with that leverage in mind.
Jun 26: total debt of ₹30,621 Cr against shareholder equity of ₹15,703 Cr — a debt-to-equity of 1.95. On the annual view, debt-to-equity went from 0.78 (FY22) to 1.95 (FY26). Read the returns on this page with that leverage in mind.
Ownership Who owns the stock, quarter by quarter: promoters (the controlling owners), foreign and domestic institutions, and the public. Steady accumulation by people close to the numbers is a signal; a quiet register is also an answer.
Domestic institutions added 4.5 points of Titan Company Ltd over 8 quarters, the biggest move on the register. That takes domestic institutions to 15.2% of the company. Foreign institutions moved −2.8 points over the same window, to 15.4%. The register is read on the four disclosed classes only; nothing is inferred between filings.
Why this happened. To counter high gold prices, Titan scaled its gold exchange program (contributing 40-50% of jewellery sales) and expanded lower-caratage offerings (9K at CaratLane/Mia, 14K at Tanishq). These accessibility levers sustain footfall and acquisition of younger and price-sensitive consumers despite macro price inflation.
The register over the last two years — Domestic institutions: +4.5 points over 8 quarters to 15.2%; Foreign institutions: −2.8 points over 8 quarters to 15.4%; Promoters: +0.0 points over 8 quarters to 52.9%.
Why the register moved: rotation — foreign institutions −2.8 points against domestic institutions +4.5 points over 8 quarters, with promoters holding steady — one class of institutions handing the register to the other, not a verdict change by the people closest to the numbers.
Safety line The Z-score estimates how far a company sits from balance-sheet distress — above roughly 3 is safe, below roughly 1.8 is the danger zone. It was built for manufacturers, so it is not applied to banks and lenders.
Titan Company Ltd: the Z-score is not available for this stock, so we say so rather than invent one. It is a distance-to-distress estimate from the balance sheet, not a forecast of failure. The debt, cash-flow and return sections above carry the balance-sheet evidence this page does hold, and each of them states its own reporting date.
The safety line in one sentence: the Z-score is not available for this stock, so we say so rather than invent one.
Valuation P/E is the price of ₹1 of annual profit: how many rupees the market pays for each rupee the company earns in a year.
Titan Company Ltd trades at 76.2× P/E, mid-range by its own standards (46th percentile). Its long-run median P/E is 78.1×, measured across 10.6 years of weekly readings. This places the multiple against the stock’s own record, and says nothing about what the business is worth.
Why this happened. CaratLane delivers omnichannel jewellery expansion targeting younger demographics, with full-year margins near 10% and long-term EBITDA targets of 10-11%. Concurrently, TEAL precision engineering benefits from aerospace, defense, and China-plus-one manufacturing tailwinds, targeting mid-to-long term normalized EBIT margins of 12-16%.
Today's P/E of 76.2× is mid-range by its own standards (46th percentile), against a long-run median of 78.1× measured over 10.6 years of weekly readings. This is a comparison against the stock's own history — not a claim about what it is worth.
Why the multiple sits where it does: over the past year annual EPS moved +52.0% against a +40.2% price move — earnings outran the price, pushing the multiple DOWN its own range.
The price move, decomposed: over 5y, of the +19.7%/yr price move, ~+35.4%/yr came from earnings growth and ~−15.7 pp from the multiple (compressing); over 10y, of the +28.0%/yr price move, ~+24.0%/yr came from earnings growth and ~+4.0 pp from the multiple (expanding). The split is the honest approximate (price return minus earnings growth); it makes the rally itself visible instead of hiding it behind the percentile.
Put together: the multiple is unremarkable against its own past, so the story rests on the earnings line underneath it, not the multiple.
Stage: Consistent Every business sits somewhere on a fundamental arc, and this page names the spot before anything else. The last twelve quarters of revenue, profit and EPS growth — plus the return the business earns on its capital — are read as curves: Deteriorating (the curves are falling), Turning around (a trough has just formed and the last few quarters lift off it), Improving (the climb off the trough is sustained), Consistent (steadily positive with healthy returns), Topping out (still high but decelerating from the peak). When the curves genuinely disagree the read is Mixed; too little history is No read. CAGR (compound annual growth rate) is the smooth yearly pace that turns the starting value into the latest one — the fairest way to compare growth across different time spans. Read the columns together: if the 1-year number towers over the 10-year, recent growth is running hotter than the long-run trend. A dash means that window is not held, or the base year was a loss (where a growth rate is not meaningful).
Titan Company Ltd reads as consistent on its fundamental arc. Consistent — revenue, profit and EPS growth have stayed positive through the window, with ROCE at 50.6% and holding. The read is built from 12 quarters across 4 curves, on full evidence.
Why it matters: steady curves with healthy returns are the compounding setup — the risk is the price, not the business.
| 1yr | 3yr | 5yr | 10yr | |
|---|---|---|---|---|
| Revenue | +44.9% | +29.2% | +32.3% | +22.8% |
| Profit | +52.0% | +15.7% | +39.1% | +22.3% |
| EPS | +52.0% | +16.0% | +39.1% | +22.4% |
| Share price | +40.2% | +16.1% | +19.7% | +28.0% |
4-Factor Sector Score
56.0/100 — rank 11 of 26 in Diamond, Gems & Jewellery · 100% evidence confidence
Titan Company Ltd scores 56.0 out of 100 against the 26 companies it is compared with in Diamond, Gems & Jewellery, ranking 11. Balanced evidence: keep at normal research priority and require another comparable period before raising conviction.
The four contributions add to the total exactly: 26.9 + 13.2 + 8.3 + 7.6 = 56. This is the SAME number shown on the sector comparison — it is computed once, for the whole peer set, and read here.
What would change it: The read weakens if profit growth turns negative or margin improvement reverses while sector-relative strength deteriorates.
Said versus delivered
What Titan Company Ltd's management promised, set against what actually arrived — 4 tracked promises on the record. Read straight from the company’s own earnings calls. A promise that slipped stays on this page after it is met.
Exchange Penetration Estimate Appears Lower · 7 August 2026. In Feb 2026, management said that more than 50% of business had an exchange element. In Aug 2026, management described exchange-related sales as 40-50% of business, without explaining whether the measurement definition had changed; because exchange is presented as a major customer-acquisition and growth driver, the apparent decline should be reconciled.
Jewelry EBIT Margin Floor Guidance Abandoned · 8 May 2026. In the Nov 2025 call, management directly defended the 11% jewelry EBIT margin floor when challenged by analysts, stating they were hoping to maintain the range and would remain pretty consistent. By the May 2026 call, management explicitly walked back any margin range assurance, stating it is very difficult to give a specific range and they would not give a firm assurance that this is sustainable. Rising gold prices were already a known and ongoing headwind in Nov 2025 when management defended the floor, making this an unexplained abandonment of a prior stated margin commitment.
🚨 CaratLane Low Double-Digit Margin Guidance Breached Without Prior Disclosure · 8 May 2026. On the Feb 2026 earnings call, Ashok specifically stated CaratLane had reached double-digit EBIT margins ahead of schedule and would stay there at a low double-digit margin EBIT profile. Crucially, at the time of this guidance, CaratLane's ERP migration to Oracle Fusion was already causing operational disruptions in January 2026, creating a known headwind that was not disclosed to analysts on that call. The May 2026 call reveals Q4 CaratLane EBIT margin fell to 8.4%, below double-digit, with the ERP migration cited only retrospectively.
Jewelry Margin Guidance Retreat · 11 February 2026. In the August 2025 and November 2025 calls, management reaffirmed their commitment to an 11-11.5% EBIT margin band for the jewelry division as a sustainable guidance range. However, in the February 2026 call, following a standalone jewelry gross margin dip of 200 basis points, management pivoted away from this commitment, stating that reaching specific percentage targets is now difficult and that absolute EBIT growth is being prioritized over margin thresholds. Later call (Feb 2026): “As absolute EBIT growth becomes more important than percentage margins, reaching specific targets becomes difficult.”
Every quote above is taken word for word from the company’s own earnings calls.
| Company | Score | Price stage | Growth & earnings/35 | Capital efficiency/25 | Valuation/20 | Relative strength/20 |
|---|---|---|---|---|---|---|
| 1Tribhovandas Bhimji Zaveri LtdTBZ | 73.1/100Favorable setup87% evidence | LEADER | 25.6/35 Revenue 29.1% · PAT 100% · OPM change 0 pp 95% evidence | 14.8/25 ROCE 21.9% · OPM 9% 95% evidence | 12.7/20 P/E 16.4× · PEG — 50% evidence | 20.0/20 RS sector 115.4% · RS bench 178.1% · 1Y 186.8%12 of 12 weeks ahead 100% evidence |
| Exact sum: 25.6 + 14.8 + 12.7 + 20 = 73.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 2Khazanchi Jewellers Ltd543953 | 70.1/100Favorable setup76% evidence | BREAKING OUT | 26.9/35 Revenue 24.4% · PAT 100% · OPM change 2 pp 95% evidence | 17.5/25 ROCE 34.8% · OPM 7% 76% evidence | 11.7/20 P/E 18.3× · PEG — 50% evidence | 14.0/20 RS sector 13.2% · RS bench 9.9% · 1Y 27.3%7 of 10 weeks ahead 70% evidence |
| Exact sum: 26.9 + 17.5 + 11.7 + 14 = 70.1 · Decision use: Confirmed research leader: earnings, capital efficiency and relative strength agree. Move to management, catalyst and risk diligence. | ||||||
| 3Sky Gold & Diamonds LtdSKYGOLD | 68.5/100Favorable setup100% evidence | LEADER | 28.2/35 Revenue 81.4% · PAT 100% · OPM change 2 pp 100% evidence | 15.7/25 ROCE 27% · OPM 8% 100% evidence | 7.1/20 P/E 38.2× · PEG 1.71 100% evidence | 17.5/20 RS sector 45.6% · RS bench 88% · 1Y 196.6%12 of 12 weeks ahead 100% evidence |
| Exact sum: 28.2 + 15.7 + 7.1 + 17.5 = 68.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 4D.P. Abhushan LtdDPABHUSHAN | 68.3/100Favorable setup100% evidence | BREAKING OUT | 25.3/35 Revenue 30.8% · PAT 94.3% · OPM change 1 pp 100% evidence | 18.2/25 ROCE 39.6% · OPM 11% 100% evidence | 15.0/20 P/E 12.8× · PEG 0.68 100% evidence | 9.8/20 RS sector -18.8% · RS bench 7.9% · 1Y -15%9 of 12 weeks ahead 100% evidence |
| Exact sum: 25.3 + 18.2 + 15 + 9.8 = 68.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 5Utssav CZ Gold Jewels LtdUTSSAV | 64.7/100Thin evidence · provisional56% evidence | LEADER | 19.7/35 Revenue — · PAT — · OPM change 0 pp 26% evidence | 18.1/25 ROCE 28.8% · OPM 7% 95% evidence | 9.5/20 P/E 21.7× · PEG — 15% evidence | 17.4/20 RS sector 43.3% · RS bench 84.4% · 1Y 183.4%12 of 12 weeks ahead 100% evidence |
| Exact sum: 19.7 + 18.1 + 9.5 + 17.4 = 64.7 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. | ||||||
| 6Thangamayil Jewellery LtdTHANGAMAYL | 60.4/100Mixed-positive evidence100% evidence | FADING | 26.9/35 Revenue 83.2% · PAT 100% · OPM change -1 pp 100% evidence | 14.0/25 ROCE 25.5% · OPM 5% 100% evidence | 10.1/20 P/E 40.6× · PEG 0.77 100% evidence | 9.4/20 RS sector -0.1% · RS bench 30.2% · 1Y 133.4%10 of 12 weeks ahead 100% evidence |
| Exact sum: 26.9 + 14 + 10.1 + 9.4 = 60.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 7PC Jeweller LtdPCJEWELLER | 59.3/100Mixed-positive evidence100% evidence | BREAKING OUT | 20.1/35 Revenue 36.5% · PAT 32.7% · OPM change 10 pp 100% evidence | 6.8/25 ROCE 9.6% · OPM 28% 100% evidence | 15.8/20 P/E 17.2× · PEG 0.26 100% evidence | 16.6/20 RS sector 2.4% · RS bench 36.2% · 1Y 3.4%7 of 12 weeks ahead 100% evidence |
| Exact sum: 20.1 + 6.8 + 15.8 + 16.6 = 59.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 8RBZ Jewellers LtdRBZJEWEL | 58.3/100Mixed-positive evidence87% evidence | BREAKING OUT | 17.5/35 Revenue 30.3% · PAT 54% · OPM change -2.3 pp 95% evidence | 16.7/25 ROCE 22% · OPM 14.8% 95% evidence | 13.7/20 P/E 12.3× · PEG — 50% evidence | 10.4/20 RS sector -4.8% · RS bench 26% · 1Y 26.8%9 of 12 weeks ahead 100% evidence |
| Exact sum: 17.5 + 16.7 + 13.7 + 10.4 = 58.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 9Senco Gold LtdSENCO | 56.8/100Mixed-positive evidence100% evidence | TURNING | 24.8/35 Revenue 43.1% · PAT 100% · OPM change -3 pp 100% evidence | 12.4/25 ROCE 21.2% · OPM 7% 100% evidence | 15.1/20 P/E 9.9× · PEG 1.35 100% evidence | 4.5/20 RS sector -20.6% · RS bench 5.3% · 1Y -10%5 of 12 weeks ahead 100% evidence |
| Exact sum: 24.8 + 12.4 + 15.1 + 4.5 = 56.8 · Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -20.6% and the one-year return is -10%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth. | ||||||
| 10Uday Jewellery Industries Ltd539518 | 56.7/100Mixed-positive evidence78% evidence | 27.2/35 Revenue 100% · PAT 100% · OPM change 3 pp 83% evidence | 14.2/25 ROCE 22.4% · OPM 7% 76% evidence | 12.0/20 P/E 13.7× · PEG — 50% evidence | 3.3/20 RS sector -18.9% · RS bench -3.8% · 1Y -13.9%3 of 4 weeks ahead to 2026-07-19 100% evidence | |
| Exact sum: 27.2 + 14.2 + 12 + 3.3 = 56.7 · Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -18.9% and the one-year return is -13.9%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth. | ||||||
| 11Titan Company Ltdthis pageTITAN | 56.0/100Mixed-positive evidence100% evidence | BREAKING OUT | 26.9/35 Revenue 45% · PAT 55.1% · OPM change 3 pp 100% evidence | 13.2/25 ROCE 20.5% · OPM 14% 100% evidence | 8.3/20 P/E 76.2× · PEG 1.43 100% evidence | 7.6/20 RS sector -9.2% · RS bench 20.1% · 1Y 36.6%6 of 12 weeks ahead 100% evidence |
| Exact sum: 26.9 + 13.2 + 8.3 + 7.6 = 56 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 12Shanti Gold International LtdSHANTIGOLD | 55.0/100Mixed-positive evidence74% evidence | BREAKING OUT | 17.8/35 Revenue 100% · PAT 100% · OPM change -8 pp 95% evidence | 16.5/25 ROCE 37% · OPM 10% 95% evidence | 10.9/20 P/E 12.7× · PEG — 15% evidence | 9.8/20 RS sector -7.1% · RS bench 23% · 1Y 12.1%10 of 12 weeks ahead 70% evidence |
| Exact sum: 17.8 + 16.5 + 10.9 + 9.8 = 55 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 13Kalyan Jewellers India LtdKALYANKJIL | 54.9/100Mixed-positive evidence100% evidence | BREAKING OUT | 22.4/35 Revenue 45.8% · PAT 79.3% · OPM change -1 pp 100% evidence | 12.0/25 ROCE 21.2% · OPM 6% 100% evidence | 4.9/20 P/E 42.4× · PEG 2.19 100% evidence | 15.6/20 RS sector 0% · RS bench 31.7% · 1Y 19.8%9 of 12 weeks ahead 100% evidence |
| Exact sum: 22.4 + 12 + 4.9 + 15.6 = 54.9 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 14Vaibhav Global LtdVAIBHAVGBL | 52.0/100Mixed-positive evidence100% evidence | ASLEEP | 19.3/35 Revenue 10.4% · PAT 73.8% · OPM change 3 pp 100% evidence | 12.8/25 ROCE 16.4% · OPM 11% 100% evidence | 18.7/20 P/E 12.5× · PEG 0.33 100% evidence | 1.2/20 RS sector -29.8% · RS bench -6.7% · 1Y -1.8%6 of 12 weeks ahead 100% evidence |
| Exact sum: 19.3 + 12.8 + 18.7 + 1.2 = 52 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 15Radhika Jeweltech LtdRADHIKAJWE | 51.5/100Mixed-positive evidence87% evidence | BREAKING OUT | 11.2/35 Revenue 16.9% · PAT 27% · OPM change -6 pp 95% evidence | 18.2/25 ROCE 25.1% · OPM 20% 95% evidence | 10.8/20 P/E 12.4× · PEG — 50% evidence | 11.3/20 RS sector -10.1% · RS bench 19.8% · 1Y -11.5%6 of 12 weeks ahead 100% evidence |
| Exact sum: 11.2 + 18.2 + 10.8 + 11.3 = 51.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 16Golkunda Diamonds & Jewellery Ltd523676 | 51.5/100Thin evidence · provisional57% evidence | 13.6/35 Revenue 1.3% · PAT -12.4% · OPM change -0.8 pp 53% evidence | 13.2/25 ROCE 19.9% · OPM 9.7% 57% evidence | 8.6/20 P/E 16× · PEG — 50% evidence | 16.1/20 RS sector 61.7% · RS bench 52.8% · 1Y 63.4%9 of 12 weeks ahead to 2026-03-29 70% evidence | |
| Exact sum: 13.6 + 13.2 + 8.6 + 16.1 = 51.5 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. | ||||||
| 17P N Gadgil Jewellers LtdPNGJL | 50.7/100Mixed-positive evidence93% evidence | BREAKING OUT | 26.0/35 Revenue 47.8% · PAT 76.6% · OPM change 2 pp 100% evidence | 12.2/25 ROCE 20.9% · OPM 8% 100% evidence | 7.9/20 P/E 20.1× · PEG 1.77 65% evidence | 4.6/20 RS sector -22.7% · RS bench 2.8% · 1Y 2.7%4 of 12 weeks ahead 100% evidence |
| Exact sum: 26 + 12.2 + 7.9 + 4.6 = 50.7 · Decision use: Acceleration candidate, not a confirmed leader: earnings are strong but sector-relative strength is -22.7% and the one-year return is 2.7%. Do not upgrade until sector-relative strength is above zero and another reported period confirms growth. | ||||||
| 18Manoj Vaibhav Gems N Jewellers LtdMVGJL | 50.2/100Mixed-positive evidence87% evidence | TURNING | 13.5/35 Revenue 21.5% · PAT 22% · OPM change -1 pp 95% evidence | 11.2/25 ROCE 15.8% · OPM 6% 95% evidence | 15.0/20 P/E 8× · PEG — 50% evidence | 10.5/20 RS sector -12% · RS bench 17.3% · 1Y 0.1%2 of 12 weeks ahead 100% evidence |
| Exact sum: 13.5 + 11.2 + 15 + 10.5 = 50.2 · Decision use: Cheap but unconfirmed: require improving earnings before treating the valuation as an opportunity. | ||||||
| 19Bluestone Jewellery & Lifestyle LtdBLUESTONE | 48.8/100Thin evidence · provisional59% evidence | BREAKING OUT | 23.5/35 Revenue 40% · PAT 100% · OPM change 3.4 pp 74% evidence | 4.7/25 ROCE 6.8% · OPM 14.5% 100% evidence | 8.6/20 P/E 242× · PEG — 15% evidence | 12.0/20 RS sector — · RS bench 56.3% · 1Y 47.3%9 of 10 weeks ahead 25% evidence |
| Exact sum: 23.5 + 4.7 + 8.6 + 12 = 48.8 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. | ||||||
| 20Motisons Jewellers LtdMOTISONS | 48.3/100Mixed-negative evidence87% evidence | BREAKING OUT | 16.4/35 Revenue 10.7% · PAT 50% · OPM change 0 pp 95% evidence | 13.4/25 ROCE 17.9% · OPM 15% 95% evidence | 11.8/20 P/E 27.1× · PEG — 50% evidence | 6.7/20 RS sector -17.9% · RS bench 9.1% · 1Y -17.4%7 of 12 weeks ahead 100% evidence |
| Exact sum: 16.4 + 13.4 + 11.8 + 6.7 = 48.3 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 21Shringar House of Mangalsutra LtdSHRINGARMS | 46.5/100Mixed-negative evidence74% evidence | BREAKING OUT | 15.1/35 Revenue 65.1% · PAT 65.8% · OPM change -3 pp 95% evidence | 15.5/25 ROCE 26.8% · OPM 9% 95% evidence | 10.1/20 P/E 17.3× · PEG — 15% evidence | 5.8/20 RS sector -23% · RS bench 2.4% · 1Y 14.6%6 of 12 weeks ahead 70% evidence |
| Exact sum: 15.1 + 15.5 + 10.1 + 5.8 = 46.5 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 22PNGS Gargi Fashion Jewellery Ltd543709 | 46.1/100Mixed-negative evidence76% evidence | BASING | 7.9/35 Revenue 18.3% · PAT 8.7% · OPM change -3.5 pp 95% evidence | 19.9/25 ROCE 33.8% · OPM 19.8% 76% evidence | 10.6/20 P/E 20.3× · PEG — 50% evidence | 7.7/20 RS sector -2.3% · RS bench -29% · 1Y -30.4%0 of 10 weeks ahead 70% evidence |
| Exact sum: 7.9 + 19.9 + 10.6 + 7.7 = 46.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 23Rajesh Exports LtdRAJESHEXPO | 31.4/100Adverse evidence91% evidence | TURNING | 18.0/35 Revenue 79.5% · PAT 100% · OPM change 0 pp 74% evidence | 4.6/25 ROCE 1.9% · OPM 0% 100% evidence | 6.5/20 P/E 13.7× · PEG 1.74 100% evidence | 2.3/20 RS sector -56.8% · RS bench -41.5% · 1Y -56.7%0 of 12 weeks ahead 100% evidence |
| Exact sum: 18 + 4.6 + 6.5 + 2.3 = 31.4 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 24Asian Star Company LtdASTAR | 20.1/100Adverse evidence87% evidence | BASING | 5.7/35 Revenue -3.8% · PAT -23.3% · OPM change -0.9 pp 95% evidence | 7.1/25 ROCE 3.6% · OPM 2.1% 95% evidence | 6.1/20 P/E 28.2× · PEG — 50% evidence | 1.2/20 RS sector -31.2% · RS bench -7.9% · 1Y -20.1%0 of 12 weeks ahead 100% evidence |
| Exact sum: 5.7 + 7.1 + 6.1 + 1.2 = 20.1 · Decision use: Balanced evidence: keep at normal research priority and require another comparable period before raising conviction. | ||||||
| 25PNGS Reva Diamond Jewellery LimitedPNGSREVA | 59.2/100Thin evidence · provisional43% evidence | BREAKING OUT | 22.9/35 Revenue — · PAT — · OPM change 7 pp 45% evidence | 16.5/25 ROCE 22% · OPM 29% 95% evidence | 9.8/20 P/E 19.2× · PEG — 15% evidence | 10.0/20 RS sector — · RS bench — · 1Y —6 of 9 weeks ahead 0% evidence |
| Exact sum: 22.9 + 16.5 + 9.8 + 10 = 59.2 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. | ||||||
| 26SJ Corporation Ltd504398 | 46.0/100Thin evidence · provisional33% evidence | 19.1/35 Revenue — · PAT — · OPM change 16.7 pp 17% evidence | 6.0/25 ROCE 0.1% · OPM 10.7% 76% evidence | 8.5/20 P/E 807× · PEG — 15% evidence | 12.4/20 RS sector — · RS bench 135.6% · 1Y —4 of 4 weeks ahead 25% evidence | |
| Exact sum: 19.1 + 6 + 8.5 + 12.4 = 46 · Decision use: Fill the missing evidence before acting; the ranking is deliberately pulled toward neutral. | ||||||
Missing observations are not scored as bad. Their missing weight lowers confidence and pulls the final score toward neutral. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step curve the sector itself is placed on — basing, turning, breaking out, leader, fading, asleep — read from how many weeks running it has led NIFTY 500 and whether that lead is widening or shrinking. It describes where the PRICE stands, not the earnings trajectory and not a recommendation, and it is left blank for a company whose weekly history is too short or too stale to read.
Frequently asked questions
What is Titan Company Ltd's share price today?
Titan Company Ltd trades at ₹5,005, +40.2% over the past year. The company is valued at ₹4,44,736 Cr. The stock sits at 89% of its 52-week range of ₹3,715–₹5,165, +14.0% versus its 200-day average. On the tape, the price is in a confirmed uptrend, 67 weeks in. — as of 11 September 2026.
What were Titan Company Ltd's latest quarterly results?
Titan Company Ltd reported revenue of ₹21,356 Cr and net profit of ₹1,777 Cr for the Jun 26 quarter. Revenue rose 29.3% and profit rose 62.9% year on year. Earnings per share were ₹20.02. The operating margin was 14.0%, 3.0 pp higher than a year earlier. — as of 11 September 2026.
What is Titan Company Ltd's revenue?
Titan Company Ltd reported revenue of ₹21,356 Cr in the Jun 26 quarter, +29.3% year on year. For the full FY26 fiscal year, revenue was ₹87,584 Cr (+44.9%). Over the last 10 years revenue compounded at 22.8% a year. — as of 11 September 2026.
What is Titan Company Ltd's profit?
Titan Company Ltd earned ₹1,777 Cr of net profit in the Jun 26 quarter, +62.9% year on year — the 6th straight quarter of growth. Full-year FY26 profit was ₹5,073 Cr. The operating margin ran 14.0% in the latest quarter. — as of 11 September 2026.
What is Titan Company Ltd's market cap?
Titan Company Ltd's market capitalisation is ₹4,44,736 Cr at a share price of ₹5,005. Market cap is the share price multiplied by shares outstanding, so it is restated whenever the price moves. — as of 11 September 2026.
What is Titan Company Ltd's P/E ratio?
Titan Company Ltd trades at a P/E of 76.2×, at the 46th percentile of its own 11-year range, against a long-run median of 78.1×. This is a comparison with the stock's own history, not a value call — as of 11 September 2026.
Does Titan Company Ltd pay a dividend?
Yes — Titan Company Ltd's dividend payout was 26% of profit in FY26, and it recorded a payout in each of its last 13 reported fiscal years. This page holds the payout ratio, not a per-share amount. — as of 11 September 2026.
Is Titan Company Ltd overvalued?
On its own history, Titan Company Ltd looks mid-range: its P/E of 76.2× sits at the 46th percentile of its 11-year range (long-run median 78.1×). That is a percentile read against the stock's own past, not a price opinion or a direction call. — as of 11 September 2026.
Is Titan Company Ltd growing?
Yes — Titan Company Ltd is growing: latest-quarter revenue +29.3% year on year, profit +62.9%, and the margin +3.0 pp at 14.0%. The 10-year compound rates are 22.8% (revenue) and 22.3% (profit). The earnings engine currently reads: improving — as of 11 September 2026.
How is Titan Company Ltd performing?
Titan Company Ltd is in a confirmed uptrend, 67 weeks in. Its latest quarter's revenue rose 29.3% and profit rose 62.9% year on year. Against the NIFTY 500 it has been ahead on a trailing-13-week view for 10 weeks. This describes what the data did, not a rating. — as of 11 September 2026.
What stage is Titan Company Ltd in?
Consistent — revenue, profit and EPS growth have stayed positive through the window, with ROCE at 50.6% and holding. The read comes from the last 12 quarters of growth (revenue growth +45.1% latest, profit growth +55.1% latest, eps growth +55.2% latest) plus the ROCE curve, classified by deterministic rules — a trajectory read, not a buy or sell call — as of 11 September 2026.
Is Titan Company Ltd in an uptrend?
Yes — the price is in a confirmed uptrend (week 67 of stage 2), trading +14.0% versus its 200-day average and at 89% of its 52-week range. Price stages cycle base → advance → top → decline, and the stage names where this stock sits in that cycle — as of 11 September 2026.
Is Titan Company Ltd beating the market?
On recent form, yes — Titan Company Ltd has been ahead of the NIFTY 500 on a trailing-13-week view for 10 straight weeks, the same metric the week-by-week ribbon on this page draws. Separately, on the cumulative view: over the last 10.5 years the stock moved +1,414% against the NIFTY 500's +273% — ahead of the index over the full window. — as of 11 September 2026.
Will Titan Company Ltd's share price go up?
This page publishes no price forecast for Titan Company Ltd. What it measures instead: the share price is ₹5,005, the price is in a confirmed uptrend 67 weeks in. Its P/E of 76.2× sits at the 46th percentile of its own 11-year range. — as of 11 September 2026.
Who owns Titan Company Ltd?
Promoters hold 52.9% of Titan Company Ltd, foreign institutions 15.4%, domestic institutions 15.2% and the public 16.3% (latest quarter). The biggest move on the register over the last two years: Domestic institutions added 4.5 points over 8 quarters. — as of 11 September 2026.
Does Titan Company Ltd have too much debt?
It carries real leverage — Titan Company Ltd's debt-to-equity is 1.95, and operating profit covers the interest bill 7×. FY26 borrowings were ₹30,621 Cr against equity of ₹15,703 Cr. Read the returns on this page with that leverage in mind — as of 11 September 2026.
What is Titan Company Ltd's capex?
Titan Company Ltd spent ₹6,002 Cr on capital expenditure over the last 3 fiscal years, a figure derived from the change in fixed assets plus depreciation. In FY26 alone that was ₹3,700 Cr, with ₹163 Cr in capital work-in-progress — capacity paid for but not yet earning. — as of 11 September 2026.
What is Titan Company Ltd's cash flow?
Titan Company Ltd generated ₹5,590 Cr of operating cash flow in FY26 and ₹1,890 Cr of free cash flow after ₹3,700 Cr of capital spending. Reported profit that year was ₹5,073 Cr, so operating cash ran ahead of profit. Cash-flow resolution for India is annual. — as of 11 September 2026.
Is Titan Company Ltd's profit real cash?
Not fully — over the last 3 fiscal years, 57% of Titan Company Ltd's reported profit arrived as operating cash. In FY26, operating cash was ₹5,590 Cr against reported profit of ₹5,073 Cr. The cash then goes mostly into the working-capital cycle. Cash-flow resolution is annual — as of 11 September 2026.
Where is Titan Company Ltd in its business cycle?
Titan Company Ltd's FY26 operating margin was 10.0%, against a 13-year band of 8.0%–12.0%: mid-band by its own history — neither the peak that precedes mean-reversion nor the trough that precedes recovery. The latest quarter ran 14.0%. Profitability versus a company's own long band is the cleanest cycle clock this page holds — as of 11 September 2026.
What could break the Titan Company Ltd story?
The sharpest disagreement: profits are rising, but only 57% of the last 3 years' profit arrived as operating cash — the gap between the P&L and the bank account is the thing to watch. Mechanically, two Friday closes in a row below the 200-day average would end the price trend — that is the exit rule this page tracks — as of 11 September 2026.
Is Titan Company Ltd a stock worth studying right now?
This is not investment advice. The machine read: Titan Company Ltd's earnings have outrun its stock. EPS grew +52.0% in a year against a +40.2% price move. The sharpest open question: whether the cash starts following the profit. Every number on this page is drawn deterministically from the raw series, with no forecasts and no price opinions — as of 11 September 2026.
Not SEBI Registered !! Not Investment advice !!