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Titan Share Price – History & Analysis

Asefa Hafeez
Titan Share Price

Titan Company Limited, a joint venture between the Tata Group and the Tamil Nadu Industrial Development Corporation (TIDCO), began operations in 1984 as Titan Watches Limited. Titan ranks as the world’s fifth-largest integrated own-brand watch manufacturer. Titan has developed lifestyle brands across numerous product categories over the past three decades and has entered underpenetrated markets. Titan is widely recognised for revolutionising the Indian watch and jewellery industry and pioneering experiential retail in India’s retail market.

 

 

The 1970s – History

 

Going back in time to before 1980, when Titan Watches were just an idea at the Tata Press. Titan Watches was founded in June of 1984 as a result of a joint venture between Tata Industries and the Tamilnadu Industrial Development Corporation (TIDCO) to realise the idea of entering the watch industry. 

 

 The 1980s – First Milestone

 

1986 marked the beginning of production, and 1987 marked the launch of the Titan brand. The Indian watch market experienced a paradigm shift with the introduction of analogue electronic quartz watches. This allowed for the expansion of the technology to bracelets, cases, electronic circuitry, and step motors.

 

The 1990s – The Journey

 

Over the course of more than 25 years, the Titan Watch Project evolved into Titan Watches, Titan Industries, and what is now known as Titan Company Limited. With annual production exceeding 15 million, each year sees the introduction of new technologies and innovations. Titan watches entered the European market in 1993, followed by the Middle East and Asia-Pacific, and have since sold over 150 million units in 32 countries. In India, the main manufacturing unit is located in Hosur, Tamil Nadu, in addition to assembly units in Dehradun, Pantnagar, and Roorkee, and an electronic sub-assembly plant in Goa.

 

Timex was the result of a brief joint venture between 1992 and 1998, claiming second place in popularity behind Titan. Titan, following the dissolution of this partnership,Titan  reclaimed the lost market share with the introduction of the Sonata. This was followed by an astute selection of wristwear – Titan, Fastrack, and Xylys brands; luxury watches, and designer timescapes – a range of outdoor clocks that defined spectacular landmarks in a number of cities.

 

The Swiss and Japanese manufacturers were astounded by the state-of-the-art manufacturing facility, strong and consistent market share, and highly trained and devoted labour force. The township, designed by the world-renowned architect Charles Correa, contributed to the Tata spirit. In Mathigiri, Tamil Nadu, an excellent school that also serves as a learning facility for neighbouring district schools was constructed to house over 2,000 Titanians.

 

The 2000s – The Expansion

 

In addition to dominating the watch industry, Titan entered the glittering sector. After expanding into jewellery in 1993, the brand Tanishq was introduced in 1996, followed a decade later by Goldplus, the standardisation of mass marketing for jewellery. This diversification was followed by additional business ventures. Fastrack – the fun and youthful watch and accessory brand, and accessories line in 2003; Precision Engineering in 2005; and the Titan Eyewear Division in 2007 – a project of prescription eyewear, complete with specialised outlets catering to customers’ every need.

 

With their traditional and designer jewellery, Tanishq and Goldplus Titan Company struck the right chord with the domestic market, which views gold as a prime investment. Tanishq offers a breathtaking array of exquisite, priceless designer wares in over 160 stores in 89 cities nationwide. Goldplus holds a respectable 40% market share in semi-urban and rural areas. 

 

The 2010s – The New Editions

 

In 2011, Titan introduced Mia, an exquisite collection of affordable, urban-chic, fine jewellery designed for working women. Titan entered the perfume market in 2013 with the introduction of SKINN, which redefined the Indian fragrance industry by ensuring the highest quality and bearing the Titan brand.

 

Tanishq acquired Carat Lane in 2016 in order to provide beautiful jewellery and a shopping experience that reflects contemporary values and lifestyles. Titan relaunched the iconic watch brand Favre-Leuba in 2016, exactly five years after acquiring the Swiss watch brand in 2011.

 

Quarterly Update: QI FY23

 

After a two-year gap, the first quarter of fiscal year Q1 of FY 23 was nearly normal. Sales in QI FY23 increased 205% year on year on a low base, resulting in a 3-year CAGR of 20.5% over Q1 FY20, the only non-disrupted first quarter in the last three years. Throughout the quarter, the network expansion and campaigns continued to progress well.

 

 

After two years of Covid-induced lockdowns in this period, the division had a good start to FY23 with robust sales on the auspicious occasion of Akshaya Tritiya (AT) in the month of May. On a low base year-over-year, revenues nearly tripled, increasing by 207%. When comparing Q1FY22 to Q1FY21, both walk-ins and buyers grew proportionally to revenues, while ticket size increased marginally.

 

Compared to sales of studded gold jewellery, growth in plain gold jewellery was nearly threefold. This quarter’s studded mix was better compared to last year’s and comparable to pre-Covid levels. Regional campaigns continued to produce favourable outcomes. Compared to revenue growth, the increase in weddings was marginally lower year-over-year, but the share of the overall pie remained unchanged.

 

Net store growth continued with the opening of six new domestic stores in Tanishq and thirteen in Mia. A new Tanishq store opened in Karama (Dubai) on April 22 with a positive initial response. In all international stores, retail metrics such as sales growth, walk-ins, conversions, and jewellery mix, including stud ratios, remained healthy.

 

Tanishq’s pan-India campaigns for its new collections ‘Live a Dream’ and ‘Rhythms of Rain’ were well received, as were its regional campaigns ‘Uttama’ for Poila Baisakh in West Bengal (WB) and ‘Rajadhiraj’ for Lord Jagannath Yatra in Odisha and WB. Mia’s notable campaigns for the quarter included “Wavemakers,” “Mia for Kids,’ and “Gift Smart Gift Mia.’

 

 

In Q1 of FY23, the division recorded its highest quarterly revenue ever, increasing 158% year-over-year with healthy growth across all brands and products. Multi-Brand Retail (MBR), Titan World, and Large Format Stores (LFS) maintained their growth trajectory beginning in FY22. April and May were particularly successful for all brands and channels during the wedding season. On a low YoY base and while maintaining the momentum seen in the second half of FY22, wearables growth nearly quadrupled.

 

Store expansions (net) continued with 26 new Titan World stores and 15 new Helios stores. The transformation of Titan World, Helios, and Fastrack stores to newer formats offering an expanded selection of premium brands continued during the quarter, with 28 stores undergoing renovations. This quarter, Titan introduced several new products, including Raga Ceramics and a new line of Titan Mechanicals. Titan Solar was introduced to commemorate World Environment Day; it was fashioned from recycled brass, vegan leather, and an in-house solar movement. Stunners 3, Tick Tock 1.0, Uptown Retreat 2.0, and Topicals 1.0 were among the new collections proudly displayed by Fastrack. Sonata introduced “Utsav,” an affordable wedding collection.

 

Titan and Fastrack launched a number of products in the Wearables market. Titan’s ‘Smart 2’ with a superior AMOLED display and Fastrack’s ‘Fastrack Reflex Curve’ and ‘Fastrack Reflex Watch’ smartwatches, in addition to the existing collection, cover a variety of price points with aesthetically pleasing and feature-packed smartwatches.

 

 

Titan Eye Plus (TEP) and Trade & Distribution channels drove the division’s year-over-year growth of 176%. The journey to reach 1,000 TEP outlets across India by the end of FY23 accelerated with 56 new stores opening in Bengaluru, Kolkata, and Chennai during the quarter. On April 21, 2022, the division set a Guinness World Record by administering 0.13mn eye exams in a single day. The production capacity for ‘Make in India’ Rx lenses and frames is expanding rapidly.

 

 

The growth of Fragrances & Fashion Accessories, Indian Dress Wear in Trade, LFS, and E-commerce channels contributed to the division’s 271% annual growth. Comparatively, fragrances increased by 262% YoY while fashion accessories increased by 293% YoY. Brand SKINN entered the premium market with “SKINN Nox”—Own the Night in both Homme and Femme variants.

 

Fastrack introduced the “Wear it your way” collection, which included new sub-categories of commuter bags and small totes worn in amusing ways to allow young people to express their genuine selves. Indian Dress Wear sales increased by 608% year-over-year during the quarter. Brand Taneira expanded its national presence during the quarter by opening six new stores. With the opening of two new stores in Kolkata, the brand made a significant entry into the eastern market and simultaneously strengthened its position in Hyderabad and Bengaluru with the opening of one additional store in each city.

 

The stores are now located in ten cities across India (Bengaluru being the largest with 7 stores). Taneira is quickly becoming one of the leading players in the saree market, thanks to its enviable ethnic range that caters to major regional diasporas. “Summer Sorbet” is an exclusive collection of handcrafted sarees and ready-to-wear kurta sets in light weaves and exquisite craftsmanship that celebrates the season’s joys. The ‘Wedding Weaves’ campaign, consisting of six short films and visuals celebrating the various relationships of a bride, received over 2.1 million YouTube views. At the core of Taneira’s offerings is the transformation of the Weaver ecosystem through the provision of technical support and the enhancement of working conditions. The ‘Weavershala’ initiative will enable the next generation of weavers to continue working in a clean, dignified environment and earn respectably. In the first quarter, two “Weavershalas” were opened near Varanasi, and work is underway to open more in the coming quarters.

 

 

 

The business grew by 35% year-over-year, with both Automation Solutions (AS) and Aerospace and Defence (AD) contributing to the growth. Compared to the same period last year, the AS business experienced a double-digit decline in order volume. However, the AD business’s order intake has more than doubled compared to the same quarter last year, indicating a sector recovery. The overall growth of TEAL’s order inflow was in the mid-teens.

 

 

CaratLane’s Q1 strategy was centred on attracting and engaging AT customers. With the markets reopening after a two-year absence, very optimistic consumer sentiment helped CaratLane achieve its highest-ever sales on the day of AT (20% higher than Dhanteras in 2020). 

 

 

 

 

 

 

 

 

 

Frequently Asked Questions (FAQs) on Titan Company Ltd.’s.

 

Titan Company Ltd.’s share price is 2,703.15 INR as of September 23rd, 2022. 

 

As on September 23rd, 2022: 

 

Key metrics to analyze any share price are a 52-week high, a 52-week low, a 1-year return, a 5-year return, etc. 

 

The market cap of Coal India Ltd is INR 2.41LCr as of September 23rd, 2022.
 

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