Titan FY22 revenue records 36% growth and profit more than doubles

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Titan delivered a solid all-round performance in FY 2021-22 despite disruptions in Q1 as well as Q4. Total income for FY22 was Rs. 26,411 crore, registering a growth of 36% compared to Rs. 19,426 crore in the FY21 (excluding bullion sale). The Company recorded a profit of Rs. 2,983 crore (before taxes and exceptional items) for the fiscal year in comparison to Rs. 1,370 crore in FY21, a growth of 118%. The exceptional item represents Rs. 51 crore expense recognised in the books on account of voluntary retirement scheme that was offered to employees during Q4.

Q4 FY22 ended with a satisfactory performance despite partial lockdowns, volatility in gold prices and uncertainty in a fragile geo-political situation. Total income for the quarter was Rs. 7,352 crore, a growth of 3% compared to Rs. 7,169 crore in Q4 FY21. Excluding bullion sale, revenue declined by 2% compared to Q4 FY21. Company reported a profit of Rs. 716 crore (before taxes and exceptional items) as compared to Rs. 702 crore in the same quarter of previous year.

During the quarter, the Jewellery business registered an income of Rs. 6,132 crore compared to Rs. 6,397 crore in Q4 FY21 (excluding bullion sale), a decline of 4%. Watches & Wearables business reported an income of Rs. 622 crore with 12% growth in Q4 FY22 compared to Rs. 555 crore in Q4 FY21. EyeCare business reported an income of Rs. 134 crore with 6% growth in Q4 FY22 compared to Rs. 127 crore in Q4 FY21. Other businesses comprising of Indian dress wear and Fragrances & Fashion accessories reported an income of Rs. 42 crore in Q4 FY22 compared to Rs. 35 crore in Q4 FY21, a growth of 20%.

Jewellery business reported an EBIT of Rs. 780 crore (before exceptional items) in Q4 FY22 compared to Rs. 703 crore in the same quarter of previous year. Watches & Wearables business reported an EBIT Rs. 16 crore (before exceptional items) in Q4 FY22 compared to Rs. 46 crore in the same quarter of previous year. EyeCare business reported a loss of Rs. 3 crore (before exceptional items) in the quarter compared to an EBIT of Rs. 23 crore in the same quarter of previous year. Other businesses reported a loss of Rs. 15 crore (before exceptional items) as compared to a loss of Rs. 9 crore in the same quarter of the previous year.

The Company has further added (net) 269 stores during the year. The Company’s retail chain (including Caratlane) has 2,178 stores across 337 towns with an area exceeding 2.8 million sq. ft. as on March’22. Of the key subsidiaries of the Company,

– Caratlane Trading Private Limited continued to do well in both online and offline channels emerging as a strong omni player. The annual revenue was Rs. 1,256 crore and a profit of Rs. 39 crore (before taxes and exceptional items) compared to revenue of Rs. 716 crore and profit of Rs. 2 crore in FY21. In Q4 of FY22, it clocked a revenue of Rs. 365 crore and a profit of Rs. 11 crore (before taxes and exceptional items) compared to revenue of Rs. 253 crore and a profit of Rs. 10 crore in Q4 FY21.

– Titan Engineering & Automation limited (TEAL) reported an annual revenue of Rs. 378 crore and a profit of Rs. 24 crore (before taxes and exceptional items) compared to revenue of Rs. 354 crore and profit of Rs. 40 crore in FY21. For Q4 FY22, TEAL recorded a revenue of Rs. 184 crore and a profit Rs. 21 crore (before taxes and exceptional items) compared to revenue of Rs. 102 crore and a profit of Rs. 9 crore in Q4 FY21.

Titan delivered a solid all-round performance in FY 2021-22 despite disruptions in Q1 as well as Q4. Total income for FY22 was Rs. 26,411 crore, registering a growth of 36% compared to Rs. 19,426 crore in the FY21 (excluding bullion sale). The Company recorded a profit of Rs. 2,983 crore (before taxes and exceptional items) for the fiscal year in comparison to Rs. 1,370 crore in FY21, a growth of 118%. The exceptional item represents Rs. 51 crore expense recognised in the books on account of voluntary retirement scheme that was offered to employees during Q4.

Q4 FY22 ended with a satisfactory performance despite partial lockdowns, volatility in gold prices and uncertainty in a fragile geo-political situation. Total income for the quarter was Rs. 7,352 crore, a growth of 3% compared to Rs. 7,169 crore in Q4 FY21. Excluding bullion sale, revenue declined by 2% compared to Q4 FY21. Company reported a profit of Rs. 716 crore (before taxes and exceptional items) as compared to Rs. 702 crore in the same quarter of previous year.

During the quarter, the Jewellery business registered an income of Rs. 6,132 crore compared to Rs. 6,397 crore in Q4 FY21 (excluding bullion sale), a decline of 4%. Watches & Wearables business reported an income of Rs. 622 crore with 12% growth in Q4 FY22 compared to Rs. 555 crore in Q4 FY21. EyeCare business reported an income of Rs. 134 crore with 6% growth in Q4 FY22 compared to Rs. 127 crore in Q4 FY21. Other businesses comprising of Indian dress wear and Fragrances & Fashion accessories reported an income of Rs. 42 crore in Q4 FY22 compared to Rs. 35 crore in Q4 FY21, a growth of 20%.

Jewellery business reported an EBIT of Rs. 780 crore (before exceptional items) in Q4 FY22 compared to Rs. 703 crore in the same quarter of previous year. Watches & Wearables business reported an EBIT Rs. 16 crore (before exceptional items) in Q4 FY22 compared to Rs. 46 crore in the same quarter of previous year. EyeCare business reported a loss of Rs. 3 crore (before exceptional items) in the quarter compared to an EBIT of Rs. 23 crore in the same quarter of previous year. Other businesses reported a loss of Rs. 15 crore (before exceptional items) as compared to a loss of Rs. 9 crore in the same quarter of the previous year.

The Company has further added (net) 269 stores during the year. The Company’s retail chain (including Caratlane) has 2,178 stores across 337 towns with an area exceeding 2.8 million sq. ft. as on March’22. Of the key subsidiaries of the Company,

– Caratlane Trading Private Limited continued to do well in both online and offline channels emerging as a strong omni player. The annual revenue was Rs. 1,256 crore and a profit of Rs. 39 crore (before taxes and exceptional items) compared to revenue of Rs. 716 crore and profit of Rs. 2 crore in FY21. In Q4 of FY22, it clocked a revenue of Rs. 365 crore and a profit of Rs. 11 crore (before taxes and exceptional items) compared to revenue of Rs. 253 crore and a profit of Rs. 10 crore in Q4 FY21.

– Titan Engineering & Automation limited (TEAL) reported an annual revenue of Rs. 378 crore and a profit of Rs. 24 crore (before taxes and exceptional items) compared to revenue of Rs. 354 crore and profit of Rs. 40 crore in FY21. For Q4 FY22, TEAL recorded a revenue of Rs. 184 crore and a profit Rs. 21 crore (before taxes and exceptional items) compared to revenue of Rs. 102 crore and a profit of Rs. 9 crore in Q4 FY21.