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Titan Industries grows top line by 27%
Apr '09
In a difficult year threatened by slowdown in several sectors. Titan Industries turned out a glittering performance achieving significant growth in sales and profits. For the year 2008-2009, sales income grew to Rs 3847.72 crore increasing by 26.5% from Rs. 3041.09 crore. Profit before taxes grew by 14% to Rs. 230.56 crore from 202.30 crore during previous year.

Net profit for the year stood at Rs.158.96 crore as compared to Rs.150.27 crore in the previous year.

Watch segment sales grew by 3.6% to Rs.908.49 crore, while Jewellery sales went up by 36.3% to Rs.2763.20 crore. Sales of other products, including eyewear, accessories and precision engineering components, rose by 48.8% to Rs.136.29 crore.

The year saw the largest expansion in our retail network adding 135 new stores (1,78,235 sq.ft) across watches, Jewellery and eyewear businesses. As on 31st March 2009, the company has a total of 487 stores (6,03,686 sq.ft) delivering a retail turnover over Rs. 3300 crore annually.

The company has also completed the merger of three subsidiaries with itself which has resulted in a net addition to reserves of Rs. 8.05 crore.

After considering the excellent performance of the company, the directors have recommended a dividend of 80% and a special silver jubilee additional dividend of 20% making a total dividend of 100%.

Titan Industries Limied

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