Titan Company Limited (TITAN.NS) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

-131.0%

-₹1,395.73

vs ₹4,499.40 price

Levered DCF

₹13,885.17

After debt service

Piotroski score

3 / 9

Weak

Altman Z-score

—

Rating

B-

Overall 2 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
P/E	71.09×	79.4×	94.93×	68.69×	103.6×	142.16×	55.22×	70.82×
P/B	22.97×	22.8×	35.33×	18.84×	24.2×	18.45×	12.43×	16.39×
P/S	4.7×	4.38×	6.5×	5.5×	7.82×	6.39×	3.94×	5.03×
EV / EBITDA	44.21×	50.06×	65.49×	47.6×	69.07×	81.6×	34.97×	47.37×
Gross margin	8.5%	21.4%	22.7%	25.1%	24.7%	24.0%	27.8%	27.1%
Operating margin	9.8%	15.6%	16.7%	18.5%	17.8%	17.5%	19.3%	17.6%
Net margin	6.6%	5.5%	6.8%	8.0%	7.5%	4.5%	7.1%	7.1%
Current ratio	1.28×	1.34×	1.55×	1.69×	1.66×	1.71×	1.8×	1.76×
Debt / equity	1.95×	1.79×	1.65×	0.79×	0.78×	0.75×	0.53×	0.39×
Interest coverage	6.38×	9.88×	13.75×	25.02×	23.55×	18.71×	24.39×	65.43×
Dividend yield	0.3%	0.4%	0.3%	0.3%	0.2%	0.3%	0.6%	0.4%
Payout ratio	19.2%	29.2%	25.4%	20.5%	16.3%	36.5%	35.7%	28.3%

Key metrics by fiscal year

Metric	FY2026	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019
Return on equity	32.3%	28.7%	37.2%	27.4%	23.4%	13.0%	22.5%	23.1%
Return on invested capital	11.6%	21.2%	25.5%	25.7%	23.1%	20.9%	27.6%	30.0%
Return on assets	8.4%	8.2%	11.1%	12.0%	10.3%	5.9%	11.1%	12.0%
Free cash flow yield	1.3%	-0.4%	0.3%	0.4%	-0.4%	2.9%	-0.8%	1.0%
Earnings yield	1.4%	1.3%	1.1%	1.5%	1.0%	0.7%	1.8%	1.4%
Enterprise value	₹3.9T	₹2.9T	₹3.5T	₹2.3T	₹2.3T	₹1.4T	₹863.8B	₹1T
Net debt / EBITDA	3.26×	3.57×	2.85×	1.87×	2.1×	3.1×	1.41×	0.92×
Cash conversion cycle (days)	212	208	172	191	216	177	188	165