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Titan Industries announces exports climbs 11%
10 Jun '05
2 min read
India's leading watch manufacturer Titain Industries reports 2004-05 year ended with a sterling performance.
Titan Industries – turnover crosses Rs.1000 crores; profits double; to pay 20% dividend.
Sales Income at Rs.1134.66 crores increased from the previous year's sales income of Rs.958.52 crores – up by 18%. Profit before exceptional items and tax went up significantly to Rs.67.36 crores
from last year's profit of Rs.39.03 crores.
The profit before tax, after accounting for exceptional items is Rs.32.36 crores, an increase of over 130%, over last year's PBT of Rs.14.03 crores. The net profit of the Company also more than doubled to Rs.24.95 crores from Rs.11.18 crores last year.
Both the Watch and Jewellery Divisions have recorded significant increases in their sales and profits. The Watch Division's sales income grew by 13%, going up from Rs.534.49 crores to Rs.601.59 crores. The Jewellery Division's sales went up by 26% from Rs.425.68 crores last year to Rs.535.01 crores this year.
The results in the financial year 2004-05 have been achieved after factoring in additional outlays on brand building amounting to Rs.17 crores more than last year.
The Company's exports also climbed by 11% from Rs.80.32 crores last year to Rs.89.40 crores this year.
A good foundation for sustained progress is evident which augurs well for the future and the Directors have recommended the payment of a 20% dividend, doubling the 10% dividend paid last year.
ng the 10% dividend paid last year.
The Manufacturers of India's leading watch brand and India's only national jewellery brand - using design, technology and people for unchallenged market leadership. Joint Venture between India's most respected business organization - the Tata Group and the Tamil Nadu Industrial Development Corporation (TIDCO). World's sixth largest manufacturer brand of watches and India's leading producer of watches under the Titan and Sonata brand names.
Titan Industries – turnover crosses Rs.1000 crores; profits double; to pay 20% dividend.
Sales Income at Rs.1134.66 crores increased from the previous year's sales income of Rs.958.52 crores – up by 18%. Profit before exceptional items and tax went up significantly to Rs.67.36 crores
from last year's profit of Rs.39.03 crores.
The profit before tax, after accounting for exceptional items is Rs.32.36 crores, an increase of over 130%, over last year's PBT of Rs.14.03 crores. The net profit of the Company also more than doubled to Rs.24.95 crores from Rs.11.18 crores last year.
Both the Watch and Jewellery Divisions have recorded significant increases in their sales and profits. The Watch Division's sales income grew by 13%, going up from Rs.534.49 crores to Rs.601.59 crores. The Jewellery Division's sales went up by 26% from Rs.425.68 crores last year to Rs.535.01 crores this year.
The results in the financial year 2004-05 have been achieved after factoring in additional outlays on brand building amounting to Rs.17 crores more than last year.
The Company's exports also climbed by 11% from Rs.80.32 crores last year to Rs.89.40 crores this year.
A good foundation for sustained progress is evident which augurs well for the future and the Directors have recommended the payment of a 20% dividend, doubling the 10% dividend paid last year.
ng the 10% dividend paid last year.
The Manufacturers of India's leading watch brand and India's only national jewellery brand - using design, technology and people for unchallenged market leadership. Joint Venture between India's most respected business organization - the Tata Group and the Tamil Nadu Industrial Development Corporation (TIDCO). World's sixth largest manufacturer brand of watches and India's leading producer of watches under the Titan and Sonata brand names.
Titan Industries
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