Titan Company Limited Financial Overview FY 2024
- Annual Financial Performance (Standalone)
- Total Income: Increased from ₹36,361 crores in FY23 to ₹43,684 crores in FY24, marking a 20.1% growth.
- Earnings Before Interest & Tax (EBIT): Rose by 8.1% from ₹4,705 crores in FY23 to ₹5,087 crores in FY24.
- Profit Before Tax (PBT): Grew by 3.2% to ₹4,607 crores.
- Profit After Tax (PAT): Increased by 6.3% to ₹3,543 crores.
- Quarterly Financial Performance (Standalone)
- Total Income for Q4: Grew by 17.4% YoY, from ₹8,753 crores in Q4 FY23 to ₹10,280 crores in Q4 FY24.
- EBIT for Q4: Increased by 8.2% YoY to ₹1,139 crores.
- PBT for Q4: Nearly unchanged at ₹977 crores.
- PAT for Q4: Increased by 7.1% YoY to ₹786 crores.
- Business Segment Performance
- Jewellery: Dominated the revenue with ₹38,353 crores in FY24, up by 20% YoY. The Q4 revenue for this segment was ₹8,998 crores.
- Watches & Wearables: FY24 revenue was ₹3,904 crores, up by 18% YoY. The Q4 revenue for this segment stood at ₹940 crores.
- Eyecare: Grew slightly with FY24 revenue at ₹724 crores and Q4 revenue at ₹166 crores.
- International Operations and New Initiatives
- Expanded international presence with new stores in Dubai and Chicago.
- Launched the ‘Ceramic Fusion Automatics’ and ‘Classique Slim Multifunction’ collections.
- Introduced ‘Affordable Fashion’ product line under Titan Eye+.
- Key Campaigns and Sponsorships
- The ‘Festival of Diamonds’ campaign by Tanishq.
- Mia launched ‘SarangHearts’, a collection inspired by K-pop and K-drama.
- Sponsored the victorious women’s team in IPL 2024.
- Outlook for FY25
- Focused on continuing innovation and meeting the evolving needs of lifestyle consumers.
- The Managing Director noted FY24 as a satisfying year, especially highlighting the growth in Jewellery and Wearables segments.