Sunday, May 2, 2010

TITAN INDUSTRIES PERFORMS WELL IN FY 10 COMPARED TO FY 09


TITAN INDUSTRIES
FY10 vs FY 09

Review

Titan Industries has performed very well in FY 10 compared to FY 09. Net Sales has increased to Rs.467716 lakhs from Rs.383264 lakhs,up about 22.9%. Total expenditure has increased to Rs. 434188 lakhs from Rs.357110 lakhs.


Consolidated Net Profit  has registered a  good increase to Rs.25130 lakhs from Rs.16392 lakhs.


Based on this Net profit, the Basic EPS has gone up to Rs.56.61 from Rs.36.93 lat year on a Face value of Rs.10.


Thus, Titan industries has achieved creditable performance on all parameters during the year FY10.


Quarterly performance :


TITAN said, the quarter is up 48% over last year, in terms of turnover and  profit is doubled in the quarter upto Rs 64 crore as compared to last years Rs 32 crores.


TITAN further said “ We have grown the top-line by 22%, EBITDA by 24% and profit by 24%. It's  better than top-line growth improvement in bottomline and this is after providing for some amortization of trademarks—some extraordinary items—despite that the bottomline has improved faster than the topline. So margins have improved for the year.’


TITAN further said, “ Gold price is going up but then that is a pass through in our business but not on the any other businesses. We haven't faced any significant cost pressure on account of raw materials. I am talking about watches and eye wears and so on.”


Thus, overall, the performance in FY 10 is much better than FY 09.


At current price of Rs.2193 , the P/E works out 38.74


NOTE : Readers are welcome to offer their comments,suggestions,criticism and corrections, if any, which will be gratefully taken note of.



FY 2010 VS FY2009 RESULTS


Description        FY 10(Rs. in lakhs) : FY 09 (Rs. in lakhs)


Net Sales             :             467716 : 383264

Other Operating Income :           72 :     91

Increase/Decrease in SIT and WIP:  -11512  :   -15751

Consumption of Raw Materials :   314592 : 258645

Purchase of traded goods :   41215 : 34957


Employees Cost               : 27785 : 23645


Depreciation     :6069     :4235


Other Expenditure:        56039    :51379


Total Expenditure:          434188  :357110


Other Income    :1201     :440


Interest                :2540:   2879


Tax Expense       :7131     :7414


Consolidated Net Profit :  25130    :16392


Dividend (%)     150% :: 100%


Face Value (in Rs.)  :  10 :10


Paid-up Equity: :    4439 :    4439


Reserves :  68752    :51348


Basic EPS :   56.61 :   36.93


Announcements by TITAN to NSE



30-04-2010      Titan Industries Limited has informed the Exchange that the Board of Directors at its meeting held on April 30, 2010 have recommended a dividend of 150% , viz Rs.15 per share ( previous year: 100%) .


30-04-2010      Titan Industries Ltd. has informed the Exchange regarding a press release dated April 30, 2010, titled "Titan crosses billion dollar mark - Net profit up 59%". A copy of the press release shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements). For more details click here.


30-04-2010      Titan Industries Limited has informed the Exchange regarding the consolidated Results for the year ended on 31-MAR-2010 as follows: Net Sales of Rs. 467716 lacs for year ending on 31-MAR-2010 against Rs. 383264 lacs for the year ending on 31-MAR-2009. Net Profit / (Loss) of Rs. 25130 lacs for the year ending on 31-MAR-2010 against Rs. 16392 lacs for the year ending on 31-MAR-2009.


30-04-2010      Titan Industries Limited has informed the Exchange regarding the standalone Results for the year ended on 31-MAR-2010 as follows: Net Sales of Rs. 467442 lacs for year ending on 31-MAR-2010 against Rs. 380338 lacs for the year ending on 31-MAR-2009. Net Profit / (Loss) of Rs. 25032 lacs for the year ending on 31-MAR-2010 against Rs. 15896 lacs for the year ending on 31-MAR-2009.


11-02-2010      Titan Industries Ltd. has informed the Exchange that "CRISIL has upgraded the rating assigned to the Company's long term rating from AA- Stable to AA Stable (pronounced as AA Stable) which indicates high degree of safety of the long term instruments".


02-02-2010      Titan Industries Ltd. has informed the Exchange regarding a press release dated January 29, 2010, titled "Titan Industries Ltd. - triples profit after tax in Q3". A copy of the press release shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements). For more details click here.


29-01-2010      Titan Industries Ltd. has informed the Exchange regarding the standalone Results for the quarter ended on 31-DEC-2009 as follows: Net Sales of Rs. 133360 lacs for quarter ending on 31-DEC-2009 against Rs. 102381 lacs for the quarter ending on 31-DEC-2008. Net Profit / (Loss) of Rs. 7543 lacs for the quarter ending on 31-DEC-2009 against Rs. 1177 lacs for the quarter ending on 31-DEC-2008.


23-10-2009      Titan Industries Ltd. has informed the Exchange regarding the standalone Results for the quarter ended on 30-SEP-2009 as follows: Net Sales of Rs. 114680 lacs for quarter ending on 30-SEP-2009 against Rs. 108853 lacs for the quarter ending on 30-SEP-2008. Net Profit / (Loss) of Rs. 7760 lacs for the quarter ending on 30-SEP-2009 against Rs. 8714 lacs for the quarter ending on 30-SEP-2008.


23-10-2009      Titan Industries Ltd. has informed the Exchange regarding the standalone Results for the half year ended on 30-SEP-2009 as follows: Net Sales of Rs. 202960 lacs for half year ending on 30-SEP-2009 against Rs. 189884 lacs for the half year ending on 30-SEP-2008. Net Profit / (Loss) of Rs. 12364 lacs for the half year ending on 30-SEP-2009 against Rs. 11936 lacs for the half year ending on 30-SEP-2008.


27-07-2009      Titan Industries Ltd. has informed the Exchange regarding the standalone Results for the quarter ended on 30-JUN-2009 as follows: Net Sales of Rs. 88280 lacs for quarter ending on 30-JUN-2009 against Rs. 81031 lacs for the quarter ending on 30-JUN-2008. Net Profit / (Loss) of Rs. 4604 lacs for the quarter ending on 30-JUN-2009 against Rs. 3222 lacs for the quarter ending on 30-JUN-2008.


27-07-2009      Titan Industries Ltd. has informed the Exchange regarding a press release dated July 27, 2009, titled "QTR I Results 2009-10; Titan Industries Q1 Net profit at Rs.46 crore". A copy of the press release shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements). For more details click here.


29-04-2009      Titan Industries Ltd. has informed the Exchange regarding the standalone Results for the year ended on 31-MAR-2009 as follows: Net Sales of Rs. 380338 lacs for year ending on 31-MAR-2009 against Rs. 304109 lacs for the year ending on 31-MAR-2008. Net Profit / (Loss) of Rs. 15896 lacs for the year ending on 31-MAR-2009 against Rs. 15027 lacs for the year ending on 31-MAR-2008.


29-04-2009      Titan Industries Ltd. has informed the Exchange regarding the consolidated Results for the year ended on 31-MAR-2009 as follows: Net Sales of Rs. 383264 lacs for year ending on 31-MAR-2009 against Rs. 304656 lacs for the year ending on 31-MAR-2008. Net Profit / (Loss) of Rs. 16392 lacs for the year ending on 31-MAR-2009 against Rs. 14756 lacs for the year ending on 31-MAR-2008.


29-04-2009      Titan Industries Ltd.has informed the Exchange that the Board of Directors at its meeting held on April 29, 2009 have recommended a dividend on the equity shares of 100% free of tax, viz., Rs.10 per equity share. ( previous year : 80%, free of tax, Rs. 8 per equity share).


29-04-2009      Titan Industries Ltd. has informed the Exchange regarding a press release dated April 29, 2009, titled "Titan Industries grows top line by 27%". A copy of the press release shall be available on the NSE website (http://www.nseindia.com) under: Corporates > Latest Announcements and on the Extranet Server (/Common/Corporate Announcements). For more details click here.

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