Titan Company Financial Statements

Titan Company Nine Monthly Results

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Y/e 31 Mar Mar-2021 Mar-2020 Mar-2018 Mar-2017
Growth matrix (%)        
Revenue growth 2.81 30.60 21.60 17.60
Op profit growth (30) 50 42.30 23.60
EBIT growth (32) 42 43.60 22.30
Net profit growth (35) 32.90 58.80 5.48
Profitability ratios (%)        
OPM 7.97 11.70 10.20 8.71
EBIT margin 7.09 10.80 9.92 8.40
Net profit margin 4.50 7.13 7.01 5.37
RoCE 13.10 26.60 24.70 22.80
RoNW 3.43 6.38 6.06 4.60
RoA 2.08 4.40 4.36 3.64
Per share ratios ()        
EPS 10.90 16.80 12.40 7.85
Dividend per share 4 4 3.75 2.60
Cash EPS 6.74 13 11.20 6.77
Book value per share 84.40 75.10 57.30 47.70
Valuation ratios        
P/E 142 55.60 75.80 58.80
P/CEPS 231 71.90 83.70 68.10
P/B 18.40 12.40 16.40 9.68
EV/EBIDTA 75 32.80 48.90 34.40
Payout (%)        
Dividend payout -- 6.06 29.50 32.40
Tax payout (27) (29) (28) (26)
Liquidity ratios        
Debtor days 5.72 5.27 5.70 5.51
Inventory days 139 122 123 129
Creditor days (13) (15) (22) (37)
Leverage ratios        
Interest coverage (7.60) (14) (30) (30)
Net debt / equity 0.68 0.48 0.21 0.26
Net debt / op. profit 2.95 1.29 0.65 0.96
Cost breakup ()        
Material costs (76) (72) (72) (72)
Employee costs (4.90) (5.70) (5.50) (5.90)
Other costs (11) (11) (12) (14)
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Y/e 31 Mar( In .Cr) Mar-2021 Mar-2020 Mar-2018 Mar-2017
Revenue 21,644 21,052 16,120 13,261
yoy growth (%) 2.81 30.60 21.60 17.60
Raw materials (16,414) (15,155) (11,686) (9,507)
As % of sales 75.80 72 72.50 71.70
Employee costs (1,065) (1,199) (885) (787)
As % of sales 4.92 5.70 5.49 5.94
Other costs (2,441) (2,230) (1,904) (1,810)
As % of sales 11.30 10.60 11.80 13.70
Operating profit 1,724 2,467 1,645 1,155
OPM 7.97 11.70 10.20 8.71
Depreciation (375) (348) (131) (111)
Interest expense (203) (166) (53) (38)
Other income 186 153 86.10 68.70
Profit before tax 1,332 2,106 1,546 1,076
Taxes (353) (609) (428) (276)
Tax rate (27) (29) (28) (26)
Minorities and other (1) 8.73 28.20 14.20
Adj. profit 978 1,505 1,147 814
Exceptional items -- -- (17) (103)
Net profit 973 1,501 1,130 711
yoy growth (%) (35) 32.90 58.80 5.48
NPM 4.50 7.13 7.01 5.37
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Y/e 31 Mar ( In .Cr) Mar-2021 Mar-2020 Mar-2018 Mar-2017
Profit before tax 1,332 2,106 1,546 1,076
Depreciation (375) (348) (131) (111)
Tax paid (353) (609) (428) (276)
Working capital 6,265 5,523 2,449 1,943
Other operating items -- -- -- --
Operating cashflow 6,869 6,672 3,436 2,633
Capital expenditure 2,685 2,367 572 35.80
Free cash flow 9,554 9,038 4,008 2,668
Equity raised 7,807 6,960 6,638 6,658
Investments 2,822 155 32.90 428
Debt financing/disposal 5,632 3,562 1,284 1,783
Dividends paid -- -- 333 231
Other items -- -- -- --
Net in cash 25,815 19,715 12,296 11,767
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Y/e 31 Mar ( In .Cr) Mar-2021 Mar-2020 Mar-2019 Mar-2018
Equity capital 89 89 88.80 88.80
Preference capital -- -- -- --
Reserves 7,408 6,580 5,981 5,001
Net worth 7,497 6,669 6,070 5,090
Minority interest
Debt 5,638 3,562 2,393 1,691
Deferred tax liabilities (net) 8 6 59 41.90
Total liabilities 13,148 10,241 8,536 6,821
Fixed assets 2,555 2,651 1,598 1,517
Intangible assets
Investments 2,824 158 108 36
Deferred tax asset (net) 105 159 128 74.80
Net working capital 7,104 6,892 5,635 4,575
Inventories 8,408 8,103 7,039 5,925
Inventory Days 142 140 -- 134
Sundry debtors 366 312 420 296
Debtor days 6.17 5.41 -- 6.70
Other current assets 1,634 1,786 1,409 1,097
Sundry creditors (804) (604) (932) (908)
Creditor days 13.60 10.50 -- 20.60
Other current liabilities (2,500) (2,705) (2,300) (1,834)
Cash 560 381 1,066 618
Total assets 13,148 10,241 8,536 6,821
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Particulars ( Rupees In Crores.) Dec-2020 Dec-2019 Dec-2018 Dec-2017 Dec-2016
Gross Sales 12,738 16,150 14,769 11,667 9,467
Excise Duty -- -- -- 36.20 84.10
Net Sales 12,738 16,150 14,769 11,631 9,383
Other Operating Income 1,413 190 121 126 47.60
Other Income 129 112 127 70.40 40.70
Total Income 14,280 16,452 15,016 11,827 9,472
Total Expenditure ** 13,248 14,491 13,349 10,559 8,632
PBIDT 1,032 1,961 1,667 1,268 840
Interest 152 123 40.10 36.20 28.80
PBDT 880 1,838 1,627 1,232 811
Depreciation 283 246 122 95.50 83
Minority Interest Before NP -- -- -- -- --
Tax 180 411 458 335 222
Deferred Tax 11 31 6.66 3.66 (14)
Reported Profit After Tax 406 1,150 1,040 798 520
Minority Interest After NP (3) (6) (10) (18) (8)
Net Profit after Minority Interest 409 1,156 1,051 815 527
Extra-ordinary Items -- -- -- (7.70) 30.70
Adjusted Profit After Extra-ordinary item 409 1,156 1,051 823 496
EPS (Unit Curr.) 4.61 13 11.80 9.18 5.85
Book Value (Unit Curr.) -- -- -- -- --
Dividend (%) -- -- -- -- --
Equity 89 89 88.80 88.80 88.80
Public Shareholding (Number) -- -- -- -- --
Public Shareholding (%) -- -- -- -- --
Pledged/Encumbered - No. of Shares -- -- -- -- --
Pledged/Encumbered - % in Total Promoters Holding -- -- -- -- --
Pledged/Encumbered - % in Total Equity -- -- -- -- --
Non Encumbered - No. of Shares -- -- -- -- --
Non Encumbered - % in Total Promoters Holding -- -- -- -- --
Non Encumbered - % in Total Equity -- -- -- -- --
PBIDTM(%) 8.10 12.10 11.30 10.90 8.95
PBDTM(%) 6.91 11.40 11 10.60 8.65
PATM(%) 3.19 7.12 7.04 6.86 5.54
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