TITAN
The Titan Company Limited (Titan) is a joint venture between TATA group and Tamil Nadu Industrial Development Corporation (TIDCO) who started with the objective of creating a titan watch for everyone and now it’s the fifth largest watch manufacturer in the world. Some of the trusted brands of Titan are Fastrack, Mia, Caratlane, Sonata, Titan Raga, Titan Eye Plus, etc. The company have several business divisions such as watches and accessories, jewellery, eyewear and a new business division.
The shareholding pattern of Titan is as follows: promoters with 52.90%, foreign institutional investors with 18.10%, public with 17.53%, domestic institutional investors with 11.13% and government with 0.35%.
The Board of directors recommended a dividend of Rs. 4 per equity share which shall be paid on or after the 7th day from the conclusion of the 37th Annual General meeting. Titan standalone net profit grew by 48% to Rs. 529 Cr. in this quarter against Rs. 357 Cr. in Q4 previous year. Also, a 61% growth in its revenue from operations at Rs. 7,135 Cr. and total income at Rs. 19,426 Cr.
The Q4 result of Titan was up to scratch.
