Titan Industries Limited
NSE Symbol TITAN
TITAN
INDUSTRIES has declared GOOD RESULTS FOR THE THRID QUARTER ENDING Dec,2011.
Net
Sales stands at Rs.2440.10 Cr – up by 16.4% from Q2 FY 12; up by 20.77% from q1
FY 12; and up by 24.84% from Q3 FY 11 – which indicates steady and gradual
progress over each quarter.
Raw
Materials consumption stands at Rs.1293.49 cr – down by -26.95% from Q2 FY 12;
down by -13.9% from q1 FY 12; and up
by 3.93% from Q3 FY 11.
The lower cost has considerably helped in current
quarter results.
Total
Expenditure stands at Rs.2239.14 cr – up by 17.44% from Q2 FY 12; Up by 21.3%
from Q1 FY 12; and Up by 26.64% from Q3 FY 11. Total Expenditure has increased
almost proportionately with Sales.
Profit
from Operations stands at Rs.201.26 cr –up by 6.03% from Q2 FY 12; up by 15.25%
from Q1 FY 12; and up by 7.83% from Q3 FY 11.
Other
Income stands at Rs.24.44 cr – up by 22.32%
from Q2 Fy 12; up by 6.17% from Q1 FY 12; and up by 60.16% from Q3 FY 11.
Profit
before tax stands at Rs.224.74 cr – up by 7.23% from Q2 Fy 12; up by 14.34%
from Q1 FY 12; and up by 12.44% from Q3
FY 11.
Tax
expense stands at Rs.60.83 cr – down by -0.9%
from Q2 FY 12; up by 14.36% from Q1 FY 12; and down by -2.36% from Q3 FY 11.
Net
Profit has grown decently to Rs.163.91
cr – up by 10.6% from Q2 FY 12; up by 14.33% from Q1 FY 12; and up by 19.15%
from Q3 FY 11.
Face
Value of the share has come down to Rs.1 from Q3 FY 11 face value of Rs.10.
Paid
Up Equity has gone up to Rs.88.78 Cr from Q3 FY11’s equity of Rs.43.39 Cr – on account
of 1 : 1 Bonus issue.
Basic
EPS on FV of Rs.1 stands at Rs.1.85 in Q3 FY 12; Rs. 1.67 in Q2 FY 12; Rs.1.61 in Q1 FY 12. Thus, annual EPS may
come to Rs.7
Current
Market price is Rs.196.15; While the 52 week high price is
Rs.4754.95 (on FV of Rs.10) and the 52
week low price is Rs,154.20 (on Fv of Rs.1).
The
PE Ratio on this basis comes to 28.
All
businesses of the company have recorded Growth. The jewellery income in Q3 grew
25.2% YoY.
Watches
business grew 17.2% YoY.
Other
businesses (Precision Engg, Eyewear) grew
70.5%.
Now,
Titan has 786 retail outlets in 155 towns crossing 1 mn SFT of retail space.
ANNOUNCEMENTS BY TITAN INDUSTRIES
31-01-2012
Titan Industries Ltd. - comes up
with 25.6% revenue growth in a tough quarter-Retail space crosses one million
square feet nationally
31-01-2012
standalone Results for the
quarter ended on 31-DEC-2011 as follows: Net Sales of Rs. 244010 lacs for
quarter ending on 31-DEC-2011 against Rs. 195459 lacs for the quarter ending on
31-DEC-2010. Net Profit / (Loss) of Rs. 16391 lacs for the quarter ending on
31-DEC-2011 against Rs. 13757 lacs for the quarter ending on 31-DEC-2010.
03-01-2012
Titan Industries has received a
copy of the Order of the High Court, Karnataka in connection with the Scheme of
Amalgamation of the Company's subsidiary viz., Tanishq (India) Ltd with Titan
Industries Ltd. With this, the Scheme of Amalgamation Pursuant to the domestic
subsidiary Tanishq (India) Ltd (transferor company) with Titan Industries Ltd
(transferee company) is complete and implemented.
16-11-2011
Titan Industries Limited has
signed a binding offer on November 16, 2011, with VALFAMILY S. L., Spain and
Maison Favre Leuba, S.A Switzerland, for the acquisition of brand Favre Leuba.
This acquisition, when completed, will provide the Company with global rights
to the trademarks of this brand. This acquisition is being pursued on an asset
purchase mode, for a sum under Euro 2 million. The strategic rationale behind
the above acquisition is to complement and strengthen the existing watches
brand portfolio of the Company with a Swiss heritage brand. Favre Leuba,
created in Switzerland in 1737, has a rich history in international markets,
including in India.
24-10-2011
standalone Results for the
quarter ended on 30-SEP-2011 as follows: Net Sales of Rs. 209634 lacs for
quarter ending on 30-SEP-2011 against Rs. 153597 lacs for the quarter ending on
30-SEP-2010. Net Profit / (Loss) of Rs. 14820 lacs for the quarter ending on
30-SEP-2011 against Rs. 12777 lacs for the quarter ending on 30-SEP-2010.
28-07-2011
standalone Results for the
quarter ended on 30-JUN-2011 as follows: Net Sales of Rs. 202051 lacs for
quarter ending on 30-JUN-2011 against Rs. 125276 lacs for the quarter ending on
30-JUN-2010. Net Profit / (Loss) of Rs. 14336 lacs for the quarter ending on
30-JUN-2011 against Rs. 8128 lacs for the quarter ending on 30-JUN-2010.
14-06-2011
Titan have fixed June 24, 2011 as
the Record Date for the issue of Bonus Shares in the ratio of 1 equity share
for every equity share held and sub-division of the equity share of the face
value of Rs.10 each in to 10 (ten) equity shares of Re.1 each.
01-06-2011
one of the Company's wholly-owned
subsidiary, Titan Properties Ltd. proposes to merge with the Holding Company,
Titan Industries Ltd pursuant to a Scheme of Amalgamation to be filed with the
Hon'ble Madras High Court. Titan Properties Ltd was incorporated to develop a
Titan Township near Hosur, for the employees of Titan Industries Ltd. It has
achieved the objectives for which it was formed and has decided not to
undertake any further developmental activities and hence felt it expedient to
amalgamate with the holding company, Titan Industries Ltd. It may be noted that
the Company's subsidiary, Titan Properties Ltd shall file the requisite
petition with the Hon'ble Madras High Court.
29-04-2011
Titan Industries have decided
subject to approval by the Shareholders of the Company and other applicable
approvals, if any the following: (1) Issue of bonus shares to the shareholders
of the Company in the ratio of one (1) equity share for every existing one (1)
equity share; and (2) Sub-division of the equity share of the Company of the
face value of Rs. 10 (ten) each in to 10 (ten) equity shares of a face value of
Rs. 1 (one) each.
29-04-2011
Titan Industries have recommended
a dividend on equity shares of 250%, free of tax, viz Rs.25/- per equity share.
(Previous year: 150%, free of tax, Rs.15 per equity share). The dividend, if
approved by the Shareholders at the Annual General Meeting will be dispatched
to the Shareholders on August 03, 2011.
RESULTS TABLE
TITAN IN
|
31-Dec-11
|
30-Sep-11
|
%DIF1
|
30-Jun-11
|
%DIF2
|
31-Dec-10
|
%DIF3
|
Net Sales
|
244010
|
209634
|
16.4
|
202051
|
20.77
|
195459
|
24.84
|
Other
Oprtng Income
|
30
|
16
|
87.5
|
9
|
233.33
|
22
|
36.36
|
Increase
in SIT / WIP
|
26608
|
-56228
|
-147.3
|
-33614
|
-179.2
|
-862
|
-3186.77
|
Raw
Materials
|
129349
|
177077
|
-26.95
|
150225
|
-13.9
|
124453
|
3.93
|
Traded
Goods
|
30801
|
35053
|
-12.13
|
34257
|
-10.09
|
23937
|
28.68
|
Employees
Cost
|
10704
|
9873
|
8.42
|
10215
|
4.79
|
8515
|
25.71
|
Depreciation
|
1192
|
1057
|
12.77
|
992
|
20.16
|
857
|
39.09
|
Other Expenditure
|
25260
|
23836
|
5.97
|
22522
|
12.16
|
19917
|
26.83
|
Total
Expenditure
|
223914
|
190668
|
17.44
|
184597
|
21.3
|
176817
|
26.64
|
Profit
from Operations
|
20126
|
18982
|
6.03
|
17463
|
15.25
|
18664
|
7.83
|
Other Income
|
2444
|
1998
|
22.32
|
2302
|
6.17
|
1526
|
60.16
|
Interest
|
96
|
22
|
336.36
|
110
|
-12.73
|
203
|
-52.71
|
Profit
before tax
|
22474
|
20958
|
7.23
|
19655
|
14.34
|
19987
|
12.44
|
Tax expense
|
6083
|
6138
|
-0.9
|
5319
|
14.36
|
6230
|
-2.36
|
Net
Profit
|
16391
|
14820
|
10.6
|
14336
|
14.33
|
13757
|
19.15
|
Face
Value (In Rs
|
1
|
1
|
0
|
0
|
10
|
-90
|
|
Paid
Up Equity
|
8878
|
8878
|
0
|
8878
|
0
|
4439
|
100
|
Basic
EPS
|
1.85
|
1.67
|
10.78
|
1.61
|
14.91
|
30.99
|
-94.03
|
Public
holding (%)
|
46.5
|
46.6
|
-0.21
|
46.7
|
-0.43
|
46.6
|
-0.21
|
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