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CONTENTS
CPTR NO CHAPTERS PAGE NO

Executive Summary
Part-A
Industry Profile
Company Profile
a. Background & Inception of company.
b. Nature of the Business carried.
c. Vision & Mission, Quality Policy.
d. Product & Services.
e. Area of Operation Global/National/Regional
f. Competitor Information
g. Ownership pattern.
h. Infrastructural Facilities.
i. Achievement Awards.
Mckeny’s 7s Frame Work

Swot Analysis
Learning Experiences
Part-B
General Introduction:
Ø Statement of the problem.
Ø Objectives of the study.
Ø Scope of the study.
Ø Methodology.
Ø Limitation of the study.
Results, Analyses & Discussions
Summary of Findings & Suggestions
Conclusion
Bibliography
INTRODUCTION
Finance is the life-blood of business. It is rightly termed as the science of money. Finance
is very essential for the smooth running of the business. Finance controls the policies,
activities and decision of every business.
“Finance is that business activity which is concerned with the

organization and conversation of capital funds in meeting financial needs and overall
objectives of a business enterprise.”- Wheeler
Financial management is that managerial activity which is concerned with the planning
and controlling of a firm financial reserve. Financial management as an academic
discipline has undergone fundamental changes as regards its scope and coverage. In the
early years of its evolution it was treated synonymously with the raising of funds. In the
current literature pertaining to this growing academic discipline, a broader scope so as to
include in addition to procurement of funds, efficient use of resources is universally
recognized. Financial analysis can be defined as a study of relationship between many
factors as disclosed by the statement and the study of the trend of these factors.
The objective of financial analysis is the pinpointing of strength and weakness of a

business undertaking by regrouping and analyzing of figures obtained from financial
statement and balance sheet by the tools and techniques of management accounting.
Financial analysis is as the final step of accounting that result in the presentation of final
and the exact data that helps the business managers, creditors and investors.
Based on this reasoning, this project is an attempt to analyze the financial

performance of TITAN INDUSTRIES LTD. In the financial analysis a ratio is used as
an index for evaluating the financial position and performance of the firm. The absolute
accounting figures reported in the financial statement do not provide a meaningful
understanding of the performance and the financial position of a firm. But the accounting
figures convey the meaning when it is related to some other relation information for
example Rs.5 crores net profit may look impressive, but the firms performance can be
said good or bad only when net profit figures is related to the firm‟s investment.
Titan Industries is the organization that brought about a paradigm shift in the Indian
watch market when it introduced its futuristic quartz technology, complemented by
international styling. With India's two most recognized and loved brands Titan and
Tanishq to its credit, Titan Industries is the fifth largest integrated watch manufacturer in
the world.
The success story began in 1984 with a joint venture between the Tata Group and the
Tamil Nadu Industrial Development Corporation. Presenting Titan quartz watches that
sported an international look, Titan Industries transformed the Indian watch market. After
Sonata, a value brand of functionally styled watches at affordable prices, Titan Industries
reached out to the youth segment with Fastrack, its third brand, trendy and chic. The
company has sold over 135million watches world over and manufactures 13 million
watches every year.
With a license for premium fashion watches of global brands, Titan Industries repeated
its pioneering act and brought international brands into Indian market. Tommy Hilfiger
and FCUK as well as the Swiss made watch Xylys owe their presence in Indian market to
Titan Industries.
Entering the largely fragmented Indian jewellery market with no known brands in 1995,
Titan Industries launched Tanishq, India's most trusted and fastest growing jewellery
brand. Gold Plus, the later addition, focuses on the preferences of semi-urban and rural
India. Completing the jewellery portfolio is Zoya, the latest retail chain in the luxury
segment.
Titan Industries has also made its foray into eyewear, launching Fastrack eyewear and
sunglasses, as well as prescription eyewear. The organization has leveraged its
manufacturing competencies and branched into precision engineering products and
machine building.With over 827 retail stores across a carpet area of over 10,08,083 sq. ft.
Titan Industries has India‟s largest retail network spanning over 155 towns. The
companyhas over 340 exclusive „World of Titan' showrooms and over 125 Fastrack
stores. It also has a large network of over 700 after-sales-service centers.
Titan Industries is also the largest jewellery retailer in India with over 130 Tanishq
boutiques and Zoya stores, over 31 Gold Plus stores. It also sports over 204 Titan Eye+
stores. The company has two exclusive design studios for watches and jewellery.
Industry Profile
3.1History of the watch market
The Indian watch industry began in the year 1961 with the commissioning of the
watch division of HMT. The first watch model manufactured by HMT was the Janata
model in the year 1962. HMT was the leader in the watch market till the Tatas formed
Titan Watches in association with Tamil Nadu Industrial Development Corporation in the
year 1987. They took a major strategy decision, which later changed the face of the
Indian watch market- to manufacture only quartz watches. Liberalization in 1992 and the
removal of quantitative restrictions due to WTO has opened the doors for many foreign
brands in the Indian market viz. Tissot, Swatch, Omega, Rado, TAG Heuer, Rolex and
many others. The import duties on watches are falling which makes the Indian market
look attractive for the global majors like Casio, Swatch and Citizen.
Titan Industries Limited is engaged in manufacturing of watches, jewelry, precision

engineering and Eyewear. The Company has four divisions: watches, jewellery, precision
engineering and eyewear. As of March 31, 2012, the Company had 311 World of Titan
stores. The Company sold its products through departmental stores, such as Shoppers‟
Stop, Central, Lifestyle, Westside, Pantaloons and Reliance Retail. During the fiscal year
ended March 31, 2012, the Company launched collection of watches, such as Purple by
Titan, an offering of fashion watches; Raga Aqua, a new collection whose evocative
designs were inspired by the oceans and seas; Tycoon by Titan, a new collection of gold
look watches; and new products in the automatic watches range, which cater to premium
consumers. As of March 31, 2012, the Company had 120 Tanishq stores, 29 Gold Plus
stores and two Zoya stores in jewelry division. As of March 31, 2012, the Company had
approximately150 exclusive eyewear stores.
the world.
sported an international look, Titan Industries transformed the Indian watch
market. After Sonata, a value brand of functionally styled watches at affordable prices,
Titan Industries reached out to the youth segment with Fastrack, its third brand, trendy
and chic. The company has sold 135million watches world over and manufactures 13
million watches every year.
and FCUK as well as the Swiss made watch – Xylys owe their presence in Indian market
to Titan Industries.
Titan Industries launched Tanishq, India‟s most trusted and fastest growing jewellery
segment.
machine building.
With over 826 retail stores across a carpet area of over 10,08,083 sq. ft. Titan Industries
has India‟s largest retail network. The company has over 331exclusive „World of Titan'
showrooms and over 83 Fastrack stores. It also has a large network of over 700 after-
sales-service centers. Titan Industries is also the largest jewellery retailer in India with
over 130 Tanishq boutiques and Zoya stores, over 31 Gold Plus stores. It also sports over
204 Titan Eye+ stores. The company has two exclusive design studios for watches and
jewellery
Backed by over 6,000 employees, two exclusive design studios for watches and
jewellery, 9 manufacturing units, and innumerable admirers world over, Titan Industries
continues to grow and sets new standards for innovation and quality. The organization is
all geared to repeat the Titan and Tanishq success story with each new offering.
Present Situation of the Indian Watch Market

The Indian watch market is today of 40 million units, out which 60% is in the
unorganized sector in which the maximum number of watches are sold are below Rs.300.
Quartz watches form two thirds of the organized sector and the rest is split between
mechanical and digital watches. Even in the organized sector, three
fourth of the sales by volume comes from watches that are priced below Rs.1000.
Watch is one of the consumer durables whose replacement rate is very high. The
replacement rate of watch is 33.8% (Source: India market demographics report,
1998). This is also due to the fact that the estimated scrap rate of wrist watches is 7.8%,
which is applicable after 6 years (Source: India market demographics report, 1998).
So due to high scrap rate, outdated models, and the shift from the mechanical watches to
the quartz watches is causing a very high replacement demand for watches. This along
with the low penetration levels represent the untapped market potential for watches in
India.
Major brands in the Indian watch market:
The major players in the Indian watch market include HMT, Titan and Timex.
The other players include Westar, Shivaki, Maxima, SITCO. Foreign brands such as
Cartier, Piaget, Omega, Tiffany‟s and Corrum, Gucci, Longines, Casio, Citizen, Tag
Heuer and Espirit are also making an inroad into the Indian market.
Titan has been consolidating its market share over the past decade. Timex
watches, which entered in India with collaboration with Titan, now independently has
also gained substantial market share.
COMPANY PROFILE
the world.
History of Titan
1984
 The Company was Incorporated on 26th July, at Chennai. The Manufacture analog
electronic watches with a choice of over 150 designs. The company was promoted
jointly by Questar Investments, Ltd., a Tata Company with its associates Tata
Sons, Ltd., and Tata Press, Ltd., and Tamil Nadu Industrial Development
Corporation, Ltd. (TIDCO). The main objective of the company is to manufacture
analog electronic watches with a choice of over 150 designs.
 The Company undertook to set up a plant for the manufacture of quartz analog
electronic watches in the State Industries Promotion Corporation of Tamil Nadu,
Ltd. Industrial area at Hosur.
 The Company entered into a collaboration agreement with France Ebauches (FE)
of France, manufacturers of watch movements and components, for technical
documentation, assistance in procurement of manufacturing equipments, raw
materials, etc.
 The Company proposed to manufacture 2 million digital and ana-digi watches in

collaboration with Casio Computer Company of Japan. A MOU was signed
between the Company and Casio in November, 1986.
1987
 The Company established a manufacturing facility at Hosur for the manufacture of

components for watches.
 In April the Company also issued 5,25,000 - 13.5% secured redeemable partly
convertible debentures of Rs 300 each for cash at par. The debentures were
allotted on preferential basis: (i) 26,250 debentures to employees/workers of the
Company and associate companies (ii) 52,500 debentures to shareholders of Tata
Press Ltd. and (iii) 1,31,250 debentures to NRIs on repatriation basis. The
remaining 3,04,500 debentures along with the unsubscribed portion of 78,900
debentures from the preferential quota were offered for public subscription during
April. Additional 1,31,250 debentures were allotted to retain over-subscription.
 The convertible portion of Rs 100 of the face value of each debenture was
converted into 10 equity shares of Rs 10 each at the end of three months from the
date of allotment of debentures (65,62,500 equity shares were allotted
accordingly).
 The non-convertible portion of Rs 200 of the face value of each debenture was to
be redeemed at par at the end of the 10 years from the date of allotment of
debentures.
1989
 A new range of watches called Àqura' was launched in December.
 The case plant at Hosur was commissioned. The plant was to produce 1.5
million watch cases. The project cost was financed partly through internal
resources and largely through borrowings from IFC, Washington and the Tamil
Nadu Industrial Development Corporation, Ltd
 The Company set up a satellite case plant at Dehra Dun in Uttar Pradesh with a
capacity of 5,00,000 watch cases per annum to improve operating efficiency
and reduce costs.
 During August, the Company issued 2,52,000 - 12.5% convertible debentures

of Rs 500 each as follows: (i) 2,40,000 debentures on rights basis in the
proportion 1 debenture: 100 equity shares held and (ii) 12,000 debentures to
employees/workers of the Company on an equitable basis. A total of 2,84,455
debentures were allotted under this issue including retention of
oversubscription.
 Part À' of each debenture of face value of Rs 100 was compulsorily and
automatically converted into 10 equity shares of Rs 10 each at par on expiry of
six months from the date of allotment of debentures.
 Part `B' of each debenture of the face value of Rs 200 was converted into 4
equity shares of Rs 10 each at a premium of Rs 50 per share on 1.10.92.
 Part `C' the non-convertible portion of each debenture of face value of Rs 200
was to be redeemed at par at the end of the 10th year from the date of allotment
of debentures.
 The proceeds of the issue were to be utilised to meet a part of the fund
requirement of the company's project to manufacture watch cases and other
critical components inhouse.
 The Company proposed to offer 40,26,700-12.5% fully convertible debentures

of Rs 100 each on Rights basis in the proportion 2 debs: 20 equity shares held.
Another 2,012,340 - 12.5% debentures were to be issued to the employees' on
an equitable basis.
 Rs 40 of the face value of each debenture was to be converted into 1 equity

share of Rs 10 each at a premium of Rs 30 per share on or before 30th
September, 1995.
 Rs 60 of the face value of each debenture was to be converted into 1 equity

share of Rs 10 each at a premium not exceeding Rs 50 per share on or before
30th September, 1996.

 A joint venture Company along with Economic Development Council of Goa,
Daman & Diu Ltd., in the name of Titan Time Products, Ltd., was set up at
Goa, for the manufacture of Electronic Circuit Blocks.
 The company undertook to set up a jewellery business at Hosur. The jewellery

repertoire was to include both daily-wear jewellery and luxury products.
 Grant Walker, a U.K. based firm, was to provide the necessary consultancy
services and the marketing was to be undertaken worldwide through an
offshore company controlled by Titan Watches Ltd., with its mainbase in
London.
 The Company along with other Tata Associates were to participate in the
equity of Timex, who were to offer equity shares of Rs 10 each at a premium
of Rs 40 per share. It was also proposed to make a Partly convertible debenture
of nearly Rs 60 crores.
1992
 Over 150 new models were introduced of which `Raga' introduced in June,
`Spectra' a range of watches in steel and gold plated was reintroduced with a
new look in August. It was proposed to introduce a host of new products based
on new movements.
 It was also proposed to sell the brand name Àqura' and the right to make
Aqura products to Timex, with a view to move up market With a view to
streamling the Company's international operations, it was decided to set up a
wholly owned subsidiary "Titan Holdings BV" in Netherlands. Approval was
received for investment of share capital of 2 million U.S. $ in that Company.
 Titan Time Products, Ltd., is a joint sector project set up with the Economic
Development Council of Goa, Daman and Diu.
 Titan Properties Ltd., was incorporated to undertake land development and
housing scheme for the Company's employees at Hosur.
 The Company issued 134,22,300 Rights equity shares of Rs 10 each for cash at
a premium of Rs 40 per share in the proportion 1:2 (all were taken up).
 Another 5,69,000 No. of equity shares of Rs 10 each were issued at a premium

of Rs 40 per share in proportion 2 shares: 1 debenture held to Part B holders of
12.5%. Convertible debentures issued in 1989. (all were taken up).
 6,99,600 No. of equity shares of Rs 10 each were offered at a premium of Rs

40 per share to employees of the Company and those of promoter companies
on an equitable basis (only 3,02,600 shares taken up).
1993
 The name of the Company was changed with effect from 21st Sept. from Titan
Watches, Ltd. to Titan Industries Ltd., in view of the fact that the Company's
products consisted of not only watches but also jewellery.
1994
 The Company introduced `Tanishq' range of watches made of 18 carat gold and
studded with precious stones. A new range of watch Ìnsignia' manufactured for
the European market likely to be introduced in the domestic market.
 The Company proposed to expand the watch manufacturing to 5 million pieces by

adding some balancing equipment and productivity devices in the component
manufacturing plants.
 The Company proposed to establish new facilities for the manufacture of table
clocks with a capacity of 1.5 million pieces per annum. New facilities were also
being established for the manufacture of complex integrated metal bracelets with a
capacity of 1.2 million bracelets with technical assistance from a reputed
manufacturer in Japan.
 A new Company was established in Singapore to market products in South and

South East Asian countries.
1995
 The Company proposed to set up a joint venture company with Hour Glass of
Singapore to set up watch boutiques in leading Indian cities for the sale of luxury
watches and also be responsible for wholesale and after-sales operations.
1996
 The Company has introduced new economy range of watches called "Sonata" and
Tanistiq's 22 Karat ethnic Jewellery during the year.
 23,00,000 Pref. shares issued on private placement basis.
1998
 3.5%, 14% and 12% redeemable cumulative preference shares has been fully
redeemed.
 The Company now has 102 exclusive Titan Showrooms and a chain of 83
Timezone outlets in addition to being present in over 5400 dealer outlets in 1300
towns and cities across the country.
 Mr A C Mukherji and Mr T K Balaji retire by rotation and are eligible for

reappointment.
 During the year, the Tamilnadu Industrial Development Corporation (TIDCO)

nominated Mr R Gopalan, their Chairman and Managing Director.
 The Research & Development Group has developed a slim movement with date
which has been introduced in the market.
2000
 Titan Industries has announced the launch of Cyber, a range of digital clocks.
 ICRA has withdrawn the A1+ rating assigned to the Rs 15 crore CP programme of
the company as there is no outstanding against the instrument.
 Titan Industries has been conferred the award for excellence in electronics for the
year 1998 by the ministry of information technology (MIT).
 Titan has launched a new `Style at Work' collection under its Classique range.
 Tanishq, the jewellery division of Titan Industries Ltd, has opened its second
showroom in Kerala.
 Pizza Hut has introduced baarah nahi toh tera, a new deal in which a customer
who orders a `speed lunch' gets it in 12 minutes, or gets it free. As part of the
offer, Pizza Hut has entered into a tie-up with Titan, through which a Titan Fast-
track watch will be displayed on every table to mark the 12 minute countdown.
 Titan Industries' jewellery arm Tanishq is getting into an memorandum of

understading with Canara Bank and Corporation Bank to convert gold articles into
slabs.
 Titan Industries is considering launching a `third brand' for the upper end.
 Titan Industries unveiled a new range of wrist-watches, called the Classique

range, for Corporate Executives.
 Titan Industries has announced a new range of Fastrack watches for young
women in the city
2001
 Titan Industries Ltd. has launched three new collections of its popular Dash brand
of watches for kids -- Popeye, Digital and Lumibrite.
 Titan Industries on June 27 reported its profit rose 21.8 per cent in the past year to
March, reflecting strong sales growth by its jewellery division.
2002
 Titan Industries Ltd informs that the Board of Directors have appointed Mr.
V.K.Jeyakodi, IAS, Executive Director, Tamil Industrial Development
Corporation Ltd as a Director of the Company, in place of Mr. Hemant Kumar
Sinha who has resigned.
 Titan Industries Ltd informs that Mr Bhaskar Bhat is appointed as Managing

Director of the Company.Mr Bhaskar Bhat succeeds Mr Xerxes Desai who steps
down as Managing Director on March 31, 2002, at the end of his tenure.
 Titan Industries Ltd, the Board of Directors have appointed Mr M Kalaivanan,

appointment in place of Mr V K Jeyakodi who has resigned from the Board on
March 27, 2002.The Board of Directors have also appointed Mr Krishnadas Nair
as an additional independent Director on the Board of the Company effective May
02, 2002.
 At the Board meeting of Titan Industries Ltd held today (June 26, 2002), the
Board of Directors noted and accepted the resignation of Mr A Gowrishankar as
Chairman and Director and Mr M Kalaivanan as a Director, both of them were
nominee directors of TamilNadu Industrial Development Corporation Ltd (Tidco)
The Directors have also approved the appointment of Dr R Vijaykumar as a
Nominee Director of Tidco in place of Mr M Kalaivanan.
 Titan Industries Ltd decides that it would be in the long-term interest of the
company to rationalise its manpower and to improve productivity. With a view to
achieve this objective and keeping the best interests of both employees and the
company in mind the company has decided to introduce a Voluntary Retirement
Scheme to its permanent employees. The scheme has been notified today July 25,
2002 to the employees of the company.
 Arun Kumar appointed as Director & Chairman of Titan Industries.
2003
 Tanishq steps into a new segment Silverware. The silverware range has been
designed by Michael Folly, the designer for Titan. We have introduced silverware
in all metros, said YL Saroja, group manager, sales and marketing, Tanishq. This
is a Rs 5,000 crore market and has few organised and branded players.
 Management decided to declare partial lock-out at the company's manufacturing

facilities at Hosur.
 Floats towards automotive and aerospace precision mechatronics for aviation and
auto tools.
 Mr Jacob Kurian, Chief Operating Officer gives his resignation to the company.
 Soldbusiness of publishing Readers Digest Magazine for a lumpsum consideration

of Rs 150 million to Living Media India ltd.
2004
 GVM International Ltd., a licensee of Tommy Hilfiger Licensing Inc (a wholly-

owned subsidiary of Tommy Hilfiger Corporation), and a member of the Murjani
Group, enters into an exclusive sub-licensing agreement with Titan Industries Ltd
to market and distribute Tommy Hilfiger watches in the country
 Relaunches 'Raga', the women's watch range
 Titan has announced the launch of a new collection of women's watches called
'Raga Miniatures'. Small and delicate in size the watches bracelets in 15 varieties
of gold and steel and is priced at Rs 2995 onwards.
 Titan Industries Ltd announced the launch of the customer service Òriginal
Spares' logo
 Titan has announced the launch of Raga 9 to 5 collection of watches aimed at

working women. The collection comprises around 40 designs and is targeted at
women in the age group of 25 to 45. The new range is available at a price ranging
from Rs 1650 to Rs 5000.
 Titan Industries on June 18, 2004, announced the launch of the Tommy Hilfiger
watch collection in India. Titan has entered into an exclusive sub-licensing
arrangement with GVM International Ltd, a member of the Murjani Group, for the
marketing and distribution of Tommy Hilfiger watches in India
 Watch and jewellery manufacturer Titan Industries forayed into the fashion
accesssories industry with the launch of sunglasses, a Rs 330-crore market
 Rolls out new range of designer eyewear in Chennai
 Titan Industries on July 22, 2004, launched the Flip collection - a dual-faced
watch that incorporates two watch movements embedded in a single case
 Titan rolls out new range of jewellery watches under the 'Nebula' brand
 Titan Industries launches Crown Collection watches
 Titan partners with LVMH Group
 Titan Industries launches Cal Track

2005
 Titan re-introduces Fastrack range of watches
 Titan introduces new gold & steel collection in Coimbatore
 Titan rolls out bi-metal range of watches in Vizag
 Titan launches multiple watches under Raga coordinate range
2006
 Titan Industries Ltd has informed that Mr. Harish Bhat is being appointed as Chief
Operating Officer (COO) - Watches and Licensing & Accessories Division of the
Company.
 Titan to set up Tanishq exclusive stores in US
 Titan Industries unveils Xylys watche
 Titan Ind sets up boutique in Banjara Hill
2008
 Titan Industries Ltd has informed that Mr. Sunil Paliwal, IAS, Executive Director,
Tamilnadu Industrial Development Corporation Ltd (TIDCO) has been inducted
as an Additional Director in the Board of the Company with effect from February
26, 2008.
 Titan Industries Ltd has informed that the Board of Directors of the Company at
its meeting held on October 29, 2008, inter alia, has appointed Mr. Kumar Jayant,
IAS, nominee Director, Tamilnadu Industrial Development Corporation Ltd as an
Additional Director in the Board of the Company with effect from October 29,
2008.
 Mr. Sunil Paliwal, IAS, nominee Director, Tamilnadu Industrial Development
Corporation Ltd has resigned as Director of the Company.
2009 :TIL ties up with Sankara Nethralaya
2010:
 Titan Industries Ltd has appointed Mrs. Anita Praveen, IAS, Chairperson &
Managing Director of Tamilnadu Industrial Development Corporation Ltd
(TIDCO) as an Additional Director of the Company with effect from June 01,
2010.
sported an international look, Titan Industries transformed the Indian watch market. After
Sonata, a value brand of functionally styled watches at affordable prices, Titan Industries
reached out to the youth segment with Fastrack, its third brand, trendy and chic. The
company has sold over 135million watches world over and manufactures 13 million
watches every year.
and FCUK as well as the Swiss made watch Xylys owe their presence in Indian market to
Titan Industries.
Titan Industries launched Tanishq, India's most trusted and fastest growing jewellery
segment.
machine building.With over 827 retail stores across a carpet area of over 10,08,083 sq. ft.
Titan Industries has India‟s largest retail network spanning over 155 towns. The
companyhas over 340 exclusive „World of Titan' showrooms and over 125 Fastrack
stores. It also has a large network of over 700 after-sales-service centers.
Titan Industries is also the largest jewellery retailer in India with over 130 Tanishq
boutiques and Zoya stores, over 31 Gold Plus stores. It also sports over 204 Titan Eye+
stores. The company has two exclusive design studios for watches and jewellery.
Backed by over 6,000 employees, two exclusive design studios for watches and
jewellery, 9 manufacturing units, and innumerable admirers world over, Titan Industries
continues to grow and sets new standards for innovation and quality. The organization is
all geared to repeat the Titan and Tanishq success story with each new offering.
3.4BOARD OF DIRECTORS
S.No Name Designation
1 N Sundaradevan Chairman
3 Bhaskar Bhat Managing Director
2 A R Rajaram Company Secretary
5 N Sundaradevan Director
4 Das Narayan Das Director

6 K Dhanavel Director
7 T K Balaji Non Executive Independent Director
8 C G Krishnadas Nair Non Executive Independent Director
9 Vinita Bali Non Executive Independent Director
10 Hema Ravichandar Non Executive Independent Director
R Poornalingam Non Executive Independent Director

11
Non Independent & Non Executive

V Parthasarathy
12 Director
Non Independent & Non Executive

Ishaat Hussain
13 Director
14 Non Independent & Non Executive

N N Tata
Director
BRAND PROFILE
TITAN
Titan is one of India's leading watch brands that brought about a paradigm shift in
the Indian watch market, offering quartz technology with international styling. The Titan
portfolio owns over 60% of the domestic market share in the organiz ed watch market.
The brand Titan is committed to offering its consumers watches that represent the
compass of their imagination. The brand regularly introduces exciting new collections,
which connect with the various facets of deep-rooted human yearnings for self-
expression. The new brand philosophy of Titan, encapsulated in the catchphrase „Be
More‟, touches this as well as all other aspects of the brand.
The Titan brand architecture comprises several collections and sub-brands, each of
which is a leader in own space. Notable among them are: Titan Edge - world's slimmest
watch based on the philosophy „less is more‟, Titan Raga - feminine and sensuous
accessory for today's woman, Nebula - crafted with solid 18k gold and precious stones.
Several other popular collections like Heritage, Aviator, Automatic, Regalia, Obaku also
form a part of the Titan portfolio.
The watch division boasts of over 300 exclusive showrooms christened „World of
Titan', placing the brand amongst the largest chains in its category backed by over 650
after-sales-service centres. The division has a world-class design studio that constantly
invents new trends in wrist watches.
SONATA
Sonata, India's largest selling watch brand, offers stylish looks at affordable prices. The
thoughtfully crafted designs encompass the aspirations of young India. The boldness and
uniqueness of each design reflects the confidence of the wearer
The brand offers a variety of looks, to suit every occasion and every wallet:
 Dressy Sona Sitara watches for special occasions

 Bold Yuva watches crafted in steel for today‟s confident youth
 Contemporary Office Wear watches with formal appearance and leather strap
 Stylish and Strong Super Fibre watches
FASTRACK
Fastrack was launched in 1998 as a sub-brand of Titan. It was spun off as an

independent brand of watches targeting the urban youth in 2005. Since then, it has carved
a niche for itself with designs that were refreshingly different and affordable. During that
time, Fastrack also extended its footprint into eye gear and in the last 4 years has quickly
notched up the title of being the largest sunglass brand in the country.
Fastrack has now chartered into newer categories – bags, belts, wallets and wrist
bands – as part of its vision to become a complete fashion brand for the youth. With
enough categories to fill up one cool store, Fastrack has „moved on‟ to open its own
stores for its young consumers. The store is positioned as a complete
accessories destination with all Fastrack gear under one roof. The first store was
opened in Pune in 2010. Fastrack plans to have 100 such stores by 2012.
XYLYS
Xylys, is an exclusive brand of Swiss made watches from Titan.
The tagline (you don‟t possess a Xylys, it possesses you), says it succinctly. And if
that doesn‟t convince you, one look at a Xylys timepiece will. Crafted and designed with
the legendary Swiss eye for detail and perfection, every Xylys watch is an experience of
love at first sight. Priced between Rs. 8500 and Rs. 24000, the Xylys range of watches
comes in three collections - Contemporary, Classic and Sport and offers over 100
distinctive models.
INTERNATIONAL BRANDS:
Tommy Hilfiger Watches
Titan Industries Limited has made Tommy Hilfiger Watches available in India at
most „World of Titan‟ stores, leading multi-brand watch outlets, and department stores
like Shoppers Stop, Central and Lifestyle.
Hugo Boss Watches
Hugo Boss, one of the world‟s most popular European brands, has its roots in
Germany. Hugo Boss is known for shoes, accessories, and fragrances. Watches
complement and complete the portfolio. Hugo Boss watches were launched globally early
this year. The Hugo Boss watch designs connote European elegance and couture and are
a symbol of power and sophistication.
Hugo Boss watches are now available in India, thanks to Titan Industries Limited.
PRODUCTS PROFILE:
PRODUCTS:
Titan Industries, best known as India's pioneering manufacturer of quartz watches,

has also etched a niche for itself in some of the most competitive spaces in the fashion
industry such as jewellery and eyewear.
Watches:
Being the world's fifth largest integrated watch manufacturer, Titan Industries has
created and sold more than a 110 million pieces the world over.
With a production rate of over 12 million watches per annum and a customer base
of over 100 million, Titan Industries owns
manufacturing and assembly operation centers in Hosur in Karnataka, Dehradun,

Roorkee and Pant Nagar in Uttaranchal, Baddi in Himachal Pradesh, and an Electronic
Circuit Boards (ECB) plant in Goa.
Capturing the important market segments and the changing fashion trends, Titan
Industries has brought forth four core watch brands:
 Titan is designed for the mid-premium segment.

 Fastrack is crafted to fit the trendy fashion space with a focus on the youth.
 Sonata is created for the mass market and has emerged as India‟s largest selling
watch brand.
 Xylys is fashioned for the premium market, aiming at the high-end connoisseur
and new-age achiever.
The Titan brand architecture comprises several sub-brands, each of which is a

market leader in own space. Notable among them are: Titan Edge, Titan Raga, Nebula,
Heritage and several other collections like WWF, Zoop, Orion, Purple, Obaku and the
Automatic series. The Titan portfolio owns over 60% of the domestic market share in the
organized watch market.
Titan Industries‟ pride possession, a world-class design studio for watches and
accessories, is the place where some of the most coveted creations have been
conceptualized.
Exclusive World of Titan and Fastrack showrooms and over 12,000 outlets in
more than 2,554 cities in India make these much-sought-after watches available to the
buyers. The watches are also offered internationally in 30 countries, with a special focus
on the Middle East and Asia Pacific regions. The after-sales service, a benchmarked
operation with a large network of exclusive service centers spread across the country, is
one of the operation units with the fastest turnaround time in the world.
Jewellery:
Following the suit of time products, Titan Industries‟ Tanishq has been India‟s
largest, fastest growing and most popular jewellery brand.
Tanishq offers a premium range of innovatively created gold jewellery with an

aesthetic use of diamonds and precious, semi-precious stones in various hues. Arresting
designs in 22kt pure gold as well as platinum are among the most admired products on
the company‟s list. GoldPlus the recent retail plain gold jewellery offering, is specifically
created for semi urban and rural Indian market. The brand offers gold jewellery, as well
as unique designs crafted with diamonds, American diamonds and other precious stones.
Titan Industries boasts of 119 Tanishq boutiques, 2 Zoya stores and 29 Gold Plus
stores in India. The enchanting jewellery patterns that are part of these brands originate in
the well-equipped exclusive jewellery design studio of Titan Industries.
Eye wear:
Titan Eye+ of Titan Industries offers sunglasses under its Fastrack brand.
Prescription eyewear such as lenses and contact lenses is also part of the range. Titan
Eye+ offers frames, sunglasses, and accessories of Titan Industries‟ in-house brands as
well as other premium brands.
Precision Engineering:
The Precision Engineering division of Titan Industries supplies precision

components to the aviation and the automotive industry. As an Original Equipment
Manufacturer (OEM), the company makes dashboard clocks for car manufacturers in
Europe and America
AREA OF OPERATION:
The area of operation of M/S TITAN INDUSTRIES LTD. Is as follows-
The manufacturing of the products is limited to national where as in HONGKONG

there is another unit of manufacturing the marketing and the selling and distribution is
global operated activity.
Business Overview
In its silver jubilee year, Titan Industries indeed came up with a sterling
performance, in spite of a backdrop of a challenging economic scenario. The recovery of
the Indian economy in the second half of the year is well reflected by our best ever
performance, attributed to initiatives both of revenue growth and cost reduction
undertaken by the Company. Income grew by 22% from Rs.3, 848crores last year
to Rs. 4,703crores this year while Net Profit grew by 57% from Rs. 158.96crores last
year to Rs. 250.32crores this year.
The Company was incorporated on 26th July, at Chennai. They manufacture

analog electronic watches with a choice of over 150 designs. The Comp. was promoted
jointly by Questar Investments Ltd., a Tata Comp. with its associates Tata Sons, Ltd., &
Tata Press, Ltd., & Tamil Nadu Industrial Development Corporation, Ltd. [TIDCOs]. The
main objective of Comp. is to manufacture analog electronic watches with a choice of
over 150 designs.
The Comp. undertook to set up a plant for manufacture of quartz analog electronic
watches in the State Industries Promotion Corporation of Tamil Nadu, limited Industrial
area at Hosur.
The Comp. entered into a collaboration agreement with France Ebauches [FEs] of
France, manufacturers of watch movements and components, for technical
documentation, assistance in procurement of manufacturing equipments, raw materials,
etc
NATURE OF BUSINESS CARRIED:
M/S Titan Industries Ltd. is basically a manufacturing industry which is dealt in

manufacturing of stylish and the brand watches to satisfy the needs of the public.
Working capital requirement is considerably influenced by the nature of business.

Example: for trading concerns the working capital requirement is more and requirement
of fixed assets will be less. For manufacturing concern requirement of working capital is
moderate and for public utility services like Railways, Hotels, Electricity, Transport the
requirement of working capital is less.
VISION AND MISSION STATEMENTS:
Our Vision:
To be a world-class, innovative and progressive organisation and to build India‟s most
desirable brands.
Our Mission:
To create wealth for all our stakeholders by building highly successful businesses based
on a customer-centric approach, and to contribute to the community.
Our Values and Standards:
 Total customer orientation

- Customers take precedence over all else, always.
 Employee appreciation
- We value and respect Titanium and Endeavour to fulfill their needs and aspiration.
 Performance culture and teamwork

- At Titan Industries, high performance is but a way of life and is nurtured by
teamwork.
ACHIVEMENTS OR AWARDS:
Over the years, Titan Industries has received several prestigious awards and
distinctions. Some of the recent and most noteworthy recognitions are:
 Titan Industries received the Award for the Most Admired Timewear Brand of the Year
in 2010 for the ninth successive year for Titan and the Most Admired Jewellery Brand
of the Year for the seventh consecutive year for Tanishq.
 Gold plus bags 2 dragons and 2 certificates of merits at the Promotion marketing awards
of Asia 2010.
 Jewellery Division was declared the winner of the “GOLD AWARD" in FMCG sector in
the Genentech Environment Excellence Award 2010.
 Jewellery Division wins first prize in “Innovation in Supply Chain Management”

organized by Indian Institute of Material Management for the second consecutive year
and ranked amongst the top five amongst 50 global entries at European Business School,
Wiesbaden Germany
 Titan brand won the “Most Valuable Brand in the State” award at the IIPM & The
Sunday Times STATE EXCELLENCE AWARD.
Titan Industries bagged 19th position across all industry categories and 1st
position in the Retail Industry category in the Economic Times – Great Place to Work
Institute study.
COMPETITORS INFORMATION:
 Titan sells around 7 million watches annually,

 Timex sells under 1.2 million watches,
 Other Brands (all put together sell less than 0.5 million watches)
 The Japanese – Citizen, Casio, have been present, while Seiko has not made any
significant moves in India.
 The Swiss – Rolex, Omega, Rado, Tissot, Tag, Longines, Cartier, Ebel
 The fashion brands – Esprit, Giordano, Tommy Hilfiger,Calvin Klien, Fossil, Swatch.
The McKinsey 7S Framework
“Ensuring that all parts of your organization work in harmony”
How do you go about analyzing how well your organization is positioned to achieve its
intended objective? This is a question that has been asked for many years, and there are
many different answers. Some approaches look at internal factors, others look at external
ones, some combine these perspectives, and others look for congruence between various
aspects of the organization being studied. Ultimately, the issue comes down to which
factors to study.
While some models of organizational effectiveness go in and out of fashion, one that has
persisted is the McKinsey 7S framework.
It's all very well devising a strategy, but you

have to be able to implement it if it's to do any good. The Seven S Framework first
appeared in "The Art of Japanese Management" by Richard Pascale and Anthony
Athos in 1981. They had been looking at how Japanese industry had been so successful,
at around the same time that Tom Peters and Robert Waterman were exploring what
made a company excellent. The Seven S model was born at a meeting of the four authors
in 1978. It went on to appear in "In Search of Excellence" by Peters and Waterman,
and was taken up as a basic tool by the global management consultancy McKinsey:
it's sometimes known as the McKinsey 7S model.
The Seven-Ss is a framework for analyzing organizations and their effectiveness. It looks
at the seven key elements that make the organizations successful, or not: strategy;
structure; systems; style; skills; staff; and shared values.
The model shows that organizational immune systems and the many
interconnected variables involved make change complex, and that an effective change
effort must address many of these issues simultaneously.
 7-S Model – A Systemic Approach to Improving Organizations
The 7-S model is a tool for managerial analysis and action that provides a structure with
which to consider a company as a whole, so that the organization's problems may be
diagnosed and a strategy may be developed and implemented.
The 7-S diagram illustrates the multiplicity interconnectedness of elements that define an
organization's ability to change. The theory helped to change manager's thinking about
how companies could be improved. It says that it is not just a matter of devising a new
strategy and following it through. Nor is it a matter of setting up new systems and letting
them generate improvements.
To be effective, your organization must have a high degree of fit, or internal alignment
among all the seven Ss. Each S must be consistent with and reinforce the other Ss. All Ss
are interrelated, so a change in one has a ripple effect on all the others. It is impossible to
make progress on one without making progress on all. Thus, to improve your
organization, you have to master systems thinking and pay attention to all of the seven
elements at the same time.
There is no starting point or implied hierarchy - different factors may drive the business
in any one organization.
The 7S McKinsey model

Hard “Ss” Soft “Ss”
Strategy Shared Values
Structure Skills
Systems Style
Staff
# The 3Ss across the top of the model are described as 'Hard Ss':-
Structure
Structure is the organizational chart and associated information that shows who reports to
whom and how tasks are both divided up and integrated. In other words, structures
describe the hierarchy of authority and accountability in an organization, the way the
organization's units relate to each other: centralized, functional divisions (top-down);
decentralized (the trend in larger organizations); matrix, network, holding, etc. These
relationships are frequently diagrammed in organizational charts. Most organizations use
some mix of structures - pyramidal, matrix or networked ones - to accomplish their goals.
Strategy
Strategies are plans an organization formulates to reach identified goals, and a set of
decisions and actions aimed at gaining a sustainable advantage over the competition.
It is the direction and scope of the company over the long term.It is the plan devised to
maintain and build competitive advantage over the competitors.
Systems
Systems define the flow of activities involved in the daily operation of business,
including its core processes and its support systems. They refer to the procedures,
processes and routines that are used to manage the organization and characterize how
important work is to be done.
Systems in Business System:-
 Business Process Management System (BPMS)
 Management information system
 Innovation system
 Performance management system
 Financial system/capital allocation system
 Compensation system/reward system
 Customer satisfaction monitoring system etc.
# The 4Ss across the bottom of the model are less tangible, more cultural in
nature, and were termed 'Soft Ss' by McKinsey. These are :-
Shared Values
“The interconnecting center of McKinsey's model is: Shared Values”
Shared values are commonly held beliefs, mindsets, and assumptions that shape how an
organization behaves – its corporate culture. Shared values are what engender trust.
Values are the identity by which a company is known throughout its business areas, what
the organization stands for and what it believes in, it central beliefs and attitudes. These
values must be explicitly stated as both corporate objectives and individual values.
When the model was first developed, these are the core values of the company that are
evidenced in the corporate culture and the general work ethic.
Style
"Style" refers to the cultural style of the organization, how key managers behave in
achieving the organization's goals, how managers collectively spend their time and
attention, and how they use symbolic behavior.How management acts is more important
than what management says.
Style represents the leadership approach of top management and the company's overall
operating approach.
Staff
"Staff" refers to the number and types of personnel within the organization and how
companies develop employees and shape basic values. It is the company's people
resources and how they are developed, trained, and motivated.
Skills
"Skills" refer to the dominant distinctive capabilities and competencies of the personnel
or of the organization as a whole.
"Hard" elements are easier to define or identify and management can directly influence
them: These are strategy statements; organization charts and reporting lines; and formal
processes and IT systems.
"Soft" elements, on the other hand, can be more difficult to describe, and are less tangible
and more influenced by culture. However, these soft elements are as important as the
hard elements if the organization is going to be successful.
The way the model is presented in Figure above depicts the interdependency of the
elements and indicates how a change in one affects all the others.
For example, a change in HR-systems like internal career plans and management training
will have an impact on organizational culture (management style) and thus will affect
structures, processes, and finally characteristic competences of the organization.
In change processes, many organizations focus their efforts on the hard S‟s:- Strategy,
Structure and Systems. They care less for the soft S‟s, Skills, Staff, Style and Shared
Values. Peters and Waterman in “In Search of Excellence” commented however, that
most successful companies work hard at these soft S‟s. The soft factors can make or
break a successful change process, since new structures and strategies are difficult to
build upon inappropriate cultures and values. These problems often come up in the
dissatisfying results of spectacular mega-mergers. The lack of success and synergies in
such mergers is often based in a clash of completely different cultures, values, and styles,
which make it difficult to establish effective common systems and structures.
SWOT ANALYSIS:
Appraising a company‟s resource strengths and weaknesses and its external

opportunities and threats, commonly known as SWOT analysis, it provides a good
overview of whether its overall situation is fundamentally healthy of unhealthy. SWOT
analysis provides the basis for crafting a strategy that capitalizes in the company‟s
resources aims squarely at capturing the company‟s best opportunities and defends
against the threats to its well being.
Strengths
 The varied offerings to diverse segments with a clear cut positioning.
b) The quality of watches is impressive.
c) Innovation is core to its strategy.
d) Visual Merchandizing has been Titan‟s strength ever since its inception.
e) Good retail network by “WORLD OF TITAN”
f) Excellent customer service.
g) International tie-ups with Hugo Boss and Tommy Hilfiger.
Weaknesses
a) Waterproof watches not a part of its kitty.
b) Rural India does not form a substantial part of customer base.
c) Kids are fascinated with mobile phones rather than watches and incidentally, they
show the time.

Opportunities
a) Under-penetrated market for watches as only 35% (approximately) of Indian
population possesses watches.
b) Watches positioned as a fashion wear rather than just utility products.
c) With a changing consumer attitude, people like to possess multiple watches for
different occasions and events.
d) Huge market in the exchange business.
e) Introducing waterproof watches.
f) Rural market may be tapped.
Threats
From competitors –
 Japanese- Citizen, Casio
2. Swiss- Rolex, Omega, Rado, Tissot, Tag Heur, etc.
 Chinese watches
 Mobile phones and wall clocks are a substitute to watches.

PART -B
GENERAL INTRODUCTION
Finance is the life-blood of business. It is rightly termed as the science of money.

Finance is very essential for the smooth running of the business. Finance controls the
policies, activities and decision of every business.
FINANCIAL PERFORMANCE ANALYSIS

The word „Performance is derived from the word „parfourmen‟, which means „to
do‟, „to carry out‟ or „to render‟. It refers the act of performing; execution,
accomplishment, fulfilment, etc. In border sense, performance refers to the
accomplishment of a given task measured against preset standards of accuracy,
completeness, cost, and speed. In other words, it refers to the degree to which an
achievement is being or has been accomplished.
In the words of Frich Kohlar “The performance is a general term applied to a part
or to all the conducts of activities of an organization over a period of time often with
reference to past or projected cost efficiency, management responsibility or
accountability or the like. Thus, not just the presentation, but the quality of results
achieved refers to the performance. Performance is used to indicate firm‟s success,
conditions, and compliance.
Financial performance refers to the act of performing financial activity. In broader sense,
financial performance refers to the degree to which financial objectives being or has been
accomplished. It is the process of measuring the results of a firm's policies and operations
in monetary terms. It is used to measure firm's overall financial health over a given
period of time and can also be used to compare similar firms across the same industry or
to compare industries or sectors in aggregation.
This studying contain following analysis:
 comparative analysis statement
 common-size analysis statement
 Ratio analysis
 Trend analysis.
 Comparative financial statement:
Comparative financial statement is those statements which have been designed in a way
so as to provide time perspective to the consideration of various elements of financial
position embodied in such statements. In these statements, figures for two or more
periods are placed side by side to facilitate comparison.
But the income statement and balance sheet can be prepared in the form of
comparative financial statement.
 Comparative balance sheet:
Comparative balance sheet as on two or more different dates can be used

for comparing assets and liabilities and finding out any increase or decrease in those
items. Thus, while in a single balance sheet the emphasis is on present position, it is on
change in the comparative balance sheet. Such a balance sheet is very useful in studying
the trends in an enterprise.
 Common-Size Financial Statement:
Common-size financial statement are those in which figures reported are converted into
percentages to some common base in the income statement the sales figure is assumed to
be 100 and all figures are expressed as a percentage of sales. Similarly, in the
balance sheet, the total of assets or liabilities is taken as 100 and all the figures are
expressed as a percentage of this total.
 Ratio analysis:
Ratio analysis is a widely used tool of financial analysis. The term ratio in it refers to the
relationship expressed in mathematical terms between two individual figures or group of
figures connected with each other in some logical manner and are selected from financial
statements of the concern. The ratio analysis is based on the fact that a single accounting
figure by it self may not communicate any meaningful information but when expressed
as a relative to some other figure, it may definitely provide some significant information
the relationship between two or more accounting figure/groups is called a financial ratio
helps to express the relationship between two accounting figures in such a way that users
can draw conclusions about the performance, strengths and weakness of a firm.
Classification of ratios:
A) Liquidity ratios
B) Leverage ratios
C) Activity ratios
D) Profitability ratios
STATEMENT OF THE PROBLEM
In this study the research problem is know the company financial position. The ultimate
performance indicator of any company is the financial parameters because invariably all
costs efficiencies; activities and solvency position of the company will be reflected in the
financial mirror.
OBJECTIVES OF THE STUDY
 The basic objective of studying the ratios of the company is to know the
financial position of the company.
 To know the borrowings of the company as well as the liquidity position of

the company.
 To study the current assets and current liabilities so as to know the

shareholders could invest in Titan Industries or not.
 To study the profits of the business and net sales of the business and to know
the stock reserve for sales of the business.
 To know the solvency of the business and the capacity to give interest to the
long term loan lenders and dividend to the share holders.
 To study the balance of cash and credit in the organization.
NEED OF THE STUDY

Any company would like to know its position against its competitors. The ultimate
performance indicator of any company is the financial parameters because invariably all
costs efficiencies; activities and solvency position of the company will be reflected in the
financial mirror.
The following are stated as the need for the study:
 To understand the volume of the profit and its reasonableness.
 To understand the movement of profit over a period of time.
 To know the reason for the variation in the profit.
 To know the present standing of the company.
REVIEW OF LITERATURE
For the purpose of this project information collected is from the primer data, which was
obtained from the field to make the research work more meaningful. The other
information please, collected from different sources, which are as follows:
“Annual theoretical books are‟‟
Various theoretical books are:
 Financial management by. S.K.R. Paul
 Financial management by. S.N. Maheshwari
 Financial Management by. R.K. Sharma & Gupta
 Kalyani Publishing House
 Financial management (3rd edition) by. Jain&Khan
 Financial management (7th edition) by. IM.pandey
 Financial accounting (4th edition) by. B.S Raman
SCOPE OF THE STUDY

The study is conducted mainly to review the financial strength of the company for a
period of 5 years from 2006-2008 to 2011-2012 as revealed from the financial data of the
Company‟s annual reports.
This study aims at analyzing three heading of the performance of the that is
 Ratio analysis.
 Trend analysis
 Comparative statement.
 Common size statement.
The study is confined to the TITAN INDUSTRIES LIMITED it will be useful for
future research.
Research design:
Research design means a search of facts, answers to question and solution to the
problems. It is a prospective investigation. Research is a systematic logical study of an
issue or problem through scientific method. It is a systematic and objective analysis and
recording of controlled observation that may lead to the development of generalization,
principles, resulting in prediction and possibly ultimate control of events.
Research design is the arrangement of conditions for the collection and analysis of data in
manner that aims to combine relevance to the research purpose with relevance to
economy. There are various designs, which are descriptive and helpful for analytical
research.
In brief a research design contains
 A clear statement of the research problem.
 A specification of data required.
 Procedure and techniques to be adopted for data collection.
 A method of processing and analysis of data.

The descriptive form of research method is adopted for study.
The major purpose of descriptive research is description of state of affairs of the

institution as it exits at present. The nature and characteristics of the financial statements
of titan industries Ltd have been described in this study.
Period of study:
The period of 17th February 2012 to 18th March 2012.
Nature of data:
The data required for the study has been collected from secondary source .The relevant
information were taken from annual reports, journals and internet.
Methods of data collection:
This study is based on the annual report of Titan Industries Ltd. Hence the information
related to, profitability, short term and long term solvency and turnover were very much
required for attaining the objectives of the present study.
Tools applied:
To have a meaningful analysis and interpretation of various data collected, the following
tools were made for this study.
 Ratio analysis
 Common-size statement
 Comparative statement
 Trend anal
LIMITATIONS OF THE STUDY
 The analysis was taken from the annual reports. Therefore, is only a limited to
find.
 Major part of the concerned with the financial data adequate data was not
able to pool because of the secrecy maintained by the company.
 The study reveals the findings for the present and its will not reflect the past
and the future.
 Every tools used in data analysis has certain limitations.
 The study is limited one month only.
2.12 CHAPTER SCHEMES
The overview of the report proceeds as below:
Chapter - 1: Introduction to the study:
This chapter gives us a general introduction to the study undertaken. It talks about the
problem for which the project has been taken; the definitions of the study; need, objective
and the scope of the study conducted.
Chapter – 2: Research design of the study:
This chapter briefly describes the way in which the study is carried out. It provides
information regarding the specific research design followed for the study, sources of data,
data processing and analysis plan of the study, expected contribution of the study and the
limitations of the study.
Chapter – 3: Profile of the organization:
This chapter views the origin, growth and the present status of the organization, i.e,
TITAN INDUSTRIES LIMITED. It also covers the functional departments, its
organizations structure, its objectives and its future prospects.
Chapter – 4: Data analysis and interpretation:
In this chapter all calculations pertaining to the study are calculated and interpreted.
Calculations refer to the ratios calculated in the study. The trends of the ratios are also
projected and interpreted. As it is said that one picture is worth 1000 words, graphs have
also been provided foe better understanding
DATA ANALYSIS AND INTERPRETATION
PERCENTAGE ANALYSIS:
Profitability analysis:
Gross profit ratio:
It is the relationship gross profit and sales. This ratio can be obtained by
dedication cost of goods sold from sale, it expressed in percentage.
Formula:
Gross profit
Gross profit ratio = ------------------------------------------ × 100
Net sales
TABLE 4 .1
Year Gross profit Sales Gross profit ratio
2008 15566 213646 7.2
2009 20230 304109 6.6
2010 23056 384771 6.0
2011 32132 470312 6.8
2012 59900 657086 9.1
CHART – 4.1
Gross profit ratio:

Interpretation:
The gross profit ratio was high in the year (2008and 2009) which is about
(7.2 and 6.6) respectively. Then it was considerably less because of the increasing
cost (or) decreasing in sale. In the 2010 it again shown same decrease of (6.0) then
on the year 2011 it was (6.8)at the end of 2012 there is slight growth of (9.1) this
indicate there is an increase in sales (or) these a decrease in cost to improve the
gross profit the company should decrease its cost and increase its sales.
Net profit ratio:
It is the relationship between net profit after tax and net sales. It is calculation after
excluding non-operating expenses. It is used to measure the efficiency and overall
profitability of the organization.
Formula:
Net profit after tax

Net profit ratio = ------------------------------------------ × 100
Net sales
TABLE -4.2
Year Net profit Sales Net profit ratio
2008 9413 213646 4.4
2009 15027 304109 4.9
2010 15896 384771 4.1
2011 25032 470312 5.3
2012 43042 657086 6.5
CHART – 4.2
Net profit ratio

Interpretation:
The net profit for the year 2008 was (4.4) which shows that there is better
management efficiency. But in the next year it as increase to (4.9) shows there was
a good efficiency in management. But from that point the organization followed a
steep down in the net profit. In the year 2010 is down to (4.1)and in 2011 it was at
(5.3)in the year 2012 net profit of the company was increase of (6.5)which clearly
indicates the operating efficiency of the concern the highest the net profit the good
is the operating efficiency of the business concern.
Operating profit ratio:
It is the relationship between ebit (earning before interest and tax) and net
sales. It is used to measure efficiency and overall profitability of the organization.
Formula:
EBIT
Operating profit ratio = ------------------------------------------ × 100
Net sales
TABLE -4.3
Year EBIT Sales Operating

profit ratio
2008 15566 213646 7.2
2009 20230 304109 6.6
2010 23056 384771 6.0
2011 32132 470312 6.8
2012 59900 657086 9.1
CHART – 4.3
Operating profit ratio:
Interpretation:
In 2008, the firm shows a high operating profit ratio of (7.2) and the
company has increased this. Because of low turnover of the company in the
remaining one year there is down in the profit in the year 2010(i.e.)(6.0) and there is
slight increase in the operating profit in the year 2011(6.8)and2012 (9.1)is sight
increase this shows that there is an increase in sales which lead to a high turnover
Current ratio:
Current ratio expresses the relationship of current assets to current liabilities.
Formula:
Current assets
Current ratio = ------------------------------------------
Current liabilities
TABLE -4.4
Year Current Current Current
assets liabilities ratio
2008 82027 53686 1.5
2009 116946 80190 1.4
2010 136360 94113 1.4
2011 162066 114959 1.4
2012 320240 241927 1.3
CHART – 4.4
Current ratio:
Interpretation:
The firm‟s current ratio of (1.5) in the year 2008 better when compare t
o the other years. It implies that for every one rupee of current liabilities current
assets of (1.5) is available to meet them. The current ratio of the remaining years is
nearest to the idle ratio. Although there is a hard and fast rule conventionally, a
current ratio 2:1 considered satisfactory.
Quick ratio:
Quick ratio expresses the relationship of current assets and inventories to current
liabilities.
Formula:
Current assets-inventories
Quick ratio = ------------------------------------------------
Current liabilities
TABLE -4.5
Year Quick assets Current liabilities Quick ratio
2008 14279 53686 0.2
2009 14837 80190 0.1
2010 16091 94113 0.2
2011 28033 114959 0.2
2012 120857 241927 0.5
CHART –4.5
Quick ratio:
Interpretation:
As a rule of thumb or as a convention quick ratio of 1:1 considered

satisfactory. Then the concern may able to meet its short-team obligations. Here in
the year 2008 the quick ratio was (0.2) then it gradually decrease. By the year, 2011
it increased to (0.2) and in the year 2012further increased to (0.5) this is shows, the
company maintained an idle quick ratio of 1:1.
Investment to total assets ratio:
This ratio indicates the relationship between the investments and total assets
it is calculated to study the liquidity position of the company. This ratio is
calculated by,
Formula
Investment
Investment to total assets = ----------------------------------× 100
Total assets
TABLE -4.6
Year Investment Total assets Investmen
t to total
asset ratio
2008 2702 59189 4.6
2009 4739 71837 6.6
2010 767 74483 1.0
2011 763 80193 0.9
2012 913 109460 0.8

CHART –4.6
Investment to total assets ratio:
Interpretation:
The company has invested more in the year 2008 of rupees (4.6). The
investment shows that it spent on the purchase of the assets for the company. In the
year 2008 it was at (4.6)and in the year 2009,2010,2011,2012 it was (6.6, 1.0, 0.9,
and 0.8) respectively.
Current assets turnover ratio:
It shows the relationship between sales and current assets.
Formula:
Sales
Current assets turnover ratio = ----------------------------------× 100
Current assets
TABLE -4.7
Year Sales Current assets Current assets
turnover ratio
ratio
2008 213646 82027 2.6
2009 304109 116946 2.6
2010 384771 136360 2.8
2011 470312 162066 2.9
2012 657086 320240 2.0
CHART –4.7
Current assets turnover ratio:
Interpretation:
The current assets ratio for the year 2008 was at (2.6) and for the year, 2009
is at (2.6) there is an equal current ratio and every year. In the year 2010 it is
increase to (2.8) and in 2011 it further increase to (2.9). The good the current assets
turnover increase the profit of the company. Therefore, the company experience
greater profitability in the year 2012 at (2.0).
Fixed assets turnover ratio:
This ratio highlights the amount of assets used by the firm to produce its sales.
Higher sales with lower assets show efficiency of the firm.
Formula:
Sales
Fixed assets turnover ratio = --------------------------------
Fixed assets
TABLE-4.8
Year Sales Fixed assets Fixed assets
turnover ratio
ratio
2008 213646 26712 8.0
2009 304109 28245 10.8
2010 384771 29400 13.0
2011 470312 27492 17.1
2012 657086 30243 21.7

CHART – 4.8
Fixed assets turnover ratio:
Interpretation:
The fixed assets turnover ratio determines the efficiency of utilization of

fixed assets and the profitability of a business concern. In the year2008 the ratio is
at (8.0) which indicates the assets where underutilized in the year 2009 it was at
(10.8) which indicates there is a slight improvement in utilization of the assets in the
year 2010, 2011 and 2012 it was gradually increased from (13.0, 17.1, 21.7) which
clearly indicates that year by year the utilization of the assets where increased.
Therefore, the profitability of the business concern is also increased.
Total assets turnover ratio

This shows the ability in generating sales from all financial resources committed to
total assets.
Formula:
Sales
Total assets turnover ratio = -------------------------------
Total assets
TABLE -4.9
Year Sales Total assets Total assets
turnover ratio
2008 213646 59189 3.6
2009 304109 71837 4.2
2010 384771 74483 5.1
2011 470312 80193 5.9
2012 657086 109460 6.0
CHART –4.9
Total assets turnover ratio:
Interpretation:
during the year 2008 the total assets turnover was at (3.6) in the year 2009 it
was at (4.2) and the in the year 2010 it slight increase to (5.1). This shows
operational efficiency of the concern. The coming years 2011 and 2012 total assets
turnover was at (5.9 and 6.0)
Respectively. This shows there that the total assets of the company as contributed
towards the total sales, of the company, which as lead to the profitability of the
company.
Inventory or stock turnover ratio:
It is also called as stock velocity ratio. It is calculated to ascertain the

efficiency of inventory management in items of capital investment. It shows the
relationship between the cost goods sold and the amount of average inventory.
Formula:
Cost of goods sold

Stock turnover ratio = ---------------------------------------------------
Average inventory gross profit
Cost of goods sold = Sales – Gross profit
Opening stock + Closing stock
Average inventory = ----------------------------------------------------
2
TABLE-4.10
Year Cost of goods Average Stock
sold inventory turnover
ratio
2008 198080 33874 5.8
2009 283879 51055 5.7

2010 361716 60135 6.0
2011 438180 67017 6.5
2012 597186 99691 6.0
CHART – 4.10
Inventory or stock turnover ratio:
Interpretation:
This is calculated to ascertain the efficiency of the capital management of the

concern. The high inventory ratios indicate the investment in inventory is optimum.
In the year 2008, the ratio was at (5.8) times and in the year 2009 it was at (5.7)
which indicate there is greater efficiency of inventory management and efficiency
of the business concern.
Working capital turnover ratio:
This represent the number of the working capital is turnover in a year. High
ratio represents efficiency utilization of working capital.
Formula:
Sales
Working capital turnover ratio = -------------------------------
Working capital
TABLE-4.11
Year Sales Working Working

capital capital
turnover ratio
2008 213646 164206 1.3
2009 304109 232824 1.3
2010 384771 301581 1.2
2011 470312 371163 1.2
2012 657086 497495 1.3

CHART –4.11
Working capital turnover ratio:
Interpretation:
This ratio measures the efficiency utilization of the working capital. During the year
2008, ratio was at (1.3) and in the next year, 2009 it was at (1.3). During the year
2010 and 2011,it decrease to (1.2 and 1.2). But in the year 2012 the working capital
ratio was highest of (1.3) respectively. Which indicates the effective‟s utilizations of
the working capital? The higher ratio indicates that there is lower investment of
working capital and more profit.
Debtor’s turnover ratio:
It is also call as receivable turnover ratio; it shows how quickly receivables or

debtors are covered in each year.
Formula:
Net credit sales
Debtors turnover ratio = -------------------------------
Average debtors
TABLE -4.12
Year Sales Average Debtors

debtors turnover ratio
2008 213646 4603 46.4
2009 304109 4823 63.0
2010 384771 5311 72.4
2011 470312 4680 100.4
2012 657086 5684 115.6
CHART –4.12
Debtors’ turnover ratio:
Interpretation:
The ratio indicates measures the liquidity of the receivable during the year of 2008
the ratio was at (46.4) times in the year 2009 it increased to (63.0).from that year the
ratio increased in the preceding year that 2010, 2011 and 2012 was at (72.4,100.4
and 115.6) respectively. The highest the turnover ratio and shorter the average
collection of period better is the liquidity of the debtors.
Table- 4.13
Comparative balance sheet (2006-07 & 2008-08) in cr’s
Particulars 2006- 2008- INC / %

2008 2009 DEC
Sources of funds:
Share capital 44.39 44.39 0 0
Reserve & surplus 283.06 391.78 108.72 38.41
Deferred liabilities 17.44 24.71 7.27 41.69
Loan funds 247.01 257.89 10.88 4.4
Total Sources of funds 126.87 21.43
591.9 718.77
Application of funds:
Net fixed assets 267.12 282.45 15.33 5.74
Investments 27.02 47.39 20.37 75.39
Inventories 677.48 1021.09 343.61 50.72
Sundry debtors 92.06 96.45 4.39 4.77
Cash at bank 50.73 51.91 1.18 2.33
loans and advance 65.54 99.17 33.63 51.31
Total current assets 885.81 1268.62 382.81 43.22
Less: Current liabilities & 287.44 48.53
provisions 592.26 879.7
Net Current assets 293.55 388.92 95.37 32.49
Deferred revenue
expenditure 4.21 0 -4.21 -100
Total Application of fund 591.9 718.76 126.86 21.43
TABLE-4.13.1
Particulars 2008- 2009- INC %

2009 2010 /
DEC
Sources of funds:
Reserve & surplus 391.78 506.85 115.1 29.37
Deferred liabilities 24.71 18.18 -6.53 -26.4
Loan funds 257.89 175.41 - -32
82.48
Total Sources off funds 718.77 744.83 26.06 3.63
Net fixed assets 282.45 294 11.55 4.09
Investments 47.39 7.66 - -83.8
39.73
Inventories 1021.1 1202.7 181.6 17.78
Sundrydebtors 96.45 106.22 9.77 10.13
Cash at bank 51.91 54.69 2.78 5.36
Less: Current liabilities & provisions 879.7 1034.6 154.9 17.6
Deferred revenue expenditure 0 0 0 0
Inference:
The comparative balance sheet of the year 2009-2010 is as follows the share capital of the
company remains same. The secured loan of the company has decreased in this year by 31.98%
.The investment of the company has decreased by 83.84%. The cash position of the company has
fluctuating increase or decreases. The current liability and provisions of the company is also
increasing
TABLE-4.13.2

2010 2011 DEC
Sources of funds:
Reserve& surplus 506.85 679.99 173.14 34.16
Deferred liabilities 18.18 4.75 -13.43 -73.9
Loan funds 175.41 72.79 -102.6 -58.5
Total Sources of funds 744.83 801.92 57.09 7.66
Net fixed assets 294 274.92 -19.08 -6.49
Investments 7.66 7.63 -0.03 -0.39
Inventories 1202.6 1340.3 137.64 11.44
Sundry debtors 106.22 93.61 -12.61 -11.9
Cash at bank 54.69 186.72 132.03 241.4
loansand advance 114.13 183.06 68.93 60.4
Deferred revenue expenditure 0 0 0
Inference:
The comparative balance sheet of the year 2010 to 2011 is as follows: The share capital of the
company remains same. The secured loan of the company has decreased in this year .The fixed
assets of the company has decreased. The cash position of the company has increase by
241.42%. Large amount to the debtors has been paid off during the year.
TABLE-4.13.3

2011 2012 DEC
Sources of funds:
Reserve & surplus 679.9 980.99 301 44.27
Deferred liabilities 4.75 1.52 -3.23 -68
Loan funds 72.79 67.7 -5.09 -6.99
Total Sources of funds 801.9 1094.6 292.68 36.5
Net fixed assets 274.9 302.42 27.5 10
Investments 7.63 9.13 1.5 19.66
Inventories 1340.3 1993.8 653.5 48.76
Sundry debtors 93.61 113.68 20.07 21.44
Cash at bank 186.7 1094.8 908.17 486.4
loans and advance 183 220 36.94 20.18
Total current assets 1803 3422.4 1618.6 89.74
Less: Current liabilities & provisions 1284.3 2639.4 1355 105.5

Inference:
The comparative balance sheet of the year 2011-2012 is as follows: The share capital of the
company remains same. The secured loan of the company has decreased in this year. The fixed
assets of the company have increased. The cash position of the company has increased by
486.3%. The current liability and provisions of the company is also increased by 105.50%.
TABLE-4.14
Common size balance sheet (2006-07 & 2008-08)
Particulars 2006- % 2008- %

2008 2009
Sources of funds:
Share capital 44.39 7.5 44.39 6.18
Reserve & surplus 283.1 47.82 391.78 54.51
Loan funds 247 41.73 257.89 35.88
Total Sources of funds 591.9 100 718.77 100
Net fixed assets 267.1 45.13 282.45 39.3
Investments 27.02 4.56 47.39 6.59
Inventories 677.5 114.5 1021.1 142.1
Sundry debtors 92.06 15.55 96.45 13.42
Cash at bank 50.73 8.57 51.91 7.22

Deferred revenue expenditure 4.21 0.71 0 0
Total Application of fund 591.9 100 718.76 100
Inference:
The common size balance sheet for the year 2008-2009 is as follows: Share capital of the
company is decreasing in percentage of the net worth. In 2006-2008 in 7.50% to 6.18%.Secured
loan for the company has decreasing trend. It decreases 41.73% to 35.88% of the net worth of the
company. Fixed asset of the company is decreasing in this year from 45.13% to 39.30%. Current
liability and provisions is increasing 100.06% to 122.39%.
TABLE -4.14.1

2009 2010
Sources of funds:
Share capital 44.39 6.18 44.39 5.96
Reserve & surplus 391.78 54.51 506.85 68.05
Loan funds 257.89 35.88 175.41 23.55
Net fixed assets 282.45 39.3 294 39.47
Investments 47.39 6.59 7.66 1.03
Inventories 1021.1 142.1 1202.7 161.5
Sundry debtors 96.45 13.42 106.22 14.26
Cash at bank 51.91 7.22 54.69 7.34

TABLE -4.14.2

2010 2011
Sources of funds:
Share capital 44.39 5.96 44.39 5.54
Reserve & surplus 506.85 68.05 679.99 84.8
Loan funds 175.41 23.55 72.79 9.08
Net fixed assets 294 39.47 274.92 34.28
Investments 7.66 1.03 7.63 0.95
Inventories 1202.7 161.5 1340.3 167.1
Sundry debtors 106.22 14.26 93.61 11.67
Cash at bank 54.69 7.34 186.72 23.28
Less: Current liabilities & 1034.6 138.9 1284.3 160.2
provisions
Inference:
The common size balance sheet for the year 2010 to 2011 is as follows: Share capital of the
company has decreased from 5.96% to 5.54%. Secured loan for the company has decreasing
trend. It decreases 23.55% to 9.08%. Fixed asset of the company is decreasing in this year of
39.47% to 34.28%. Current liability and a provision is increasing 138.90% to 160.15%.
TABLE-4.14.3

2011 2012
Sources of funds:
Share capital 44.39 5.54 44.39 4.06
Reserve & surplus 679.99 84.8 980.99 89.62
Loan funds 72.79 9.08 67.7 6.18
Net fixed assets 274.92 34.28 302.42 27.63
Investments 7.63 0.95 9.13 0.83
Inventories 1340.3 167.1 1993.8 182.2
Sundry debtors 93.61 11.67 113.68 10.39
Cash at bank 186.72 23.28 1094.9 100
loans and advance 183.06 22.83 220 20.1
Less: Current liabilities & 1284.3 160.2 2639.4 241.1
provisions
Inference:
The common size balance sheet for the year 2011 to 2012 is as follows: Share capital figure
remained constant however their percentage of net worth has increased. Secured loan for the
company has decreasing trend. It decreases 9.08% to 6.18%. Fixed asset of the company is
decreasing in this year of 34.28% to 27.63%. Current liability and a provision is increasing
160.15% to 241.12%.
TABLE-4.15
Trend Income Statement in the study period
(2006-07 to 2011-11
Particular 2006 trend 2008 trend 2009 trend 2010 Trend 2011 Trend
2008 2009 2010 2011 2012
2136.5 100 3041.1 70.3 3847.7 79.0 4703.1 81.8 6570.9 71.6
Sales
3.2 100 1.8 181.9 5.3 33.7 11.9 44.4 56.1 21.1
Other
incomes
2139.7 100 3042.9 70.3 3853.0 79.0 4715.0 81.7 6626.9 71.1
Total
income
2045.6 100 2892.6 70.7 3694.0 78.3 4464.7 82.7 6196.5 72.1
Total
expenditure
94.1 100 150.3 62.6 159.0 94.5 250.3 63.5 430.4 58.2
Net profit
CHART –4.13
CHART – 4.13.1
CHART – 4.13.2
Inference:
By taking 2006-07 as base year (100%) the sales, total income, total expenditure, and net
profit during the study period were analysis by taking trend as a tool. The above table
shows the movement of variables during the study period. The entire variable shows the
lower trend during the 2011-11.
Table – 4.16
TREND BALANCE SHEET IN THE STUDY PERIOD
(2006-07 to 2011-11)
Particulars 2006- Trend 2008- Trend 2009- Trend 2010- Trend 2011- Trend
2008 2009 2010 20010 2012
Share capital 44.4 100.0 44.4 100.0 44.4 100.0 44.4 100.0 44.4 100.0
Reserve & 283.1 100.0 391.8 72.2 506.9 77.3 680.0 74.5 981.0 69.3
surplus
Deferred 17.4 100.0 24.7 70.6 18.2 135.9 4.8 382.7 1.5 312.5
liabilities
Loan funds 247.0 100.0 257.9 95.8 175.4 147.0 72.8 241.0 67.7 107.5
Net fixed 267.1 100.0 282.5 94.6 294.0 96.1 274.9 106.9 302.4 90.9
assets
Investments 27.0 100.0 47.4 57.0 7.7 618.7 7.6 100.4 9.1 83.6
Inventories 677.5 100.0 1021.1 66.3 1202.7 84.9 1340.3 89.7 1993.8 67.2
Sundry 92.1 100.0 96.5 95.4 106.2 90.8 93.6 113.5 113.7 82.3
debtors
Cash at bank 50.7 100.0 51.9 97.7 54.7 94.9 186.7 29.3 1094.9 17.1
loans and 65.5 100.0 99.2 66.1 114.1 86.9 183.1 62.3 220.0 83.2
advance
Current 592.3 100.0 879.7 67.3 1034.6 85.0 1284.3 80.6 2639.4 48.7
liabilities &
provisions
Inference:
Trend Percentages of Balance Sheet is done by taking 100 as base for all financial
years 2008 to 2012. Fixed assets have been decreased during the period 2011-11.current
assets, Current liabilities and provisions were fluctuating during the study period.
Therefore the balance sheet total shows an increasing trend in the figures.
FINDINGS
 Gross profit ratio 2006-2008 the basic value is 7.2 and 2011-2012 is increased to
9.1
 Net profit ratio 2006-2008the basic value is 4.4 and 2011-2012 is increased to 6.5.
 Operating profit 2006-2008the basic value is 7.2 and 2011-2012 is increased to
9.1.
 Current ratio 2006-2008the basic value is 1.5 and 2011-2012 is decreased to 1.3.
 Quick ratio 2006-2008 the basic value is 0.2 and 2011-2012 is increased to 0.5.
 Current assets turnover ratio 2006-2008 the basic value is 2.6 and 2011-2012 is
decreased to 2.0.
 Fixed assets turnover ratio 2006-2008 the basic value is 8.0 and 2011-2012 is
increased to 21.7.
 Total assets turnover ratio 2006-2008 the basic value is 3.6 and 2011-2012 is
increased to 6.0.
 Inventory turnover ratio 2006-2008the basic value is 5.8 and 2011-2012 is
increased to 6.0.
 Working capital turnover 2006-2008the basic value is 1.3 and 2011-2012 is
fluctuating to 1.3.
 Debtor‟s turnover ratio 2006-2008the basic value is 4.64 and 2011-2012 is
increased to 115.6.
 Analyzing the trend percentage has been higher growth of Net profit, sales and
current asset for the year 2008-2012.
 While analyzing the comparison of balance sheet total assets increased from
21.43% to 36.49 % for the year 2008-2012.
 While analyzing the common size balance sheet in Net current assets increased
from 49.59% to 71.54% for the year 2008-2012.

Suggestions
 The company should try to improve its cash position. There must be an increasing
trend in the coming year.
 A dynamic market strategy is to be adopted to boost of the sale
 The company has to take steps to increase the sales in order to get higher profit.
 The debtor‟s management is effective which should be continued in the following
years.
 The company should try to improve its inventory management.
 The company should try to investing in more amount of working capital.
 The company should reduce the operating expenses by cost reduction in order to
increase the Net profit margin.
 The company should control the unexpected expenses.
 To improve working condition in the organization

 To provide amenities to the workers
 to provide non monitory rewards to employees
CONCLUSION
At present the Titan industries limited is becoming more complex because

of its dynamic nature. The company financial performance during the year 2011-2012
was the best ever the company should maintain a good effective and efficient
management.
Bet not satisfactory in the cash position. The strength of the company is
proper availability of resources, good environment and employee.
Introduction of innovative new products which would fuel the

consumer demand and satisfaction so as to get more sales and more profit thereby
increasing the company cash position in future. By implement the above suggestion
made along with analysis there is no doubt the company can improve its financial
performance.
BIBLIOGRAPHY
BOOKS:
 Prasana Chandra – Financial management Theory and Practice, Tata McGraw Hill.
 T.S. Reddy and Y. Hariprasad Reddy, Management Accounting. Margham
publications, Chennai.
 S.N.Maheswari, Management accounting Sultan chand & Sons, Educational
publishers, New Delhi.
REPORTS:
Annual Report of TITAN INDUSTRIES LIMILED For the year
2006-2008 to 2011-2012.
WEBSITES:
http://titan.co.in/
http://titanworld.com/in/

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CONTENTS

CPTR NO CHAPTERS PAGE NO

Mckeny’s 7s Frame Work

“Finance is that business activity which is concerned with the

The objective of financial analysis is the pinpointing of strength and weakness of a

Based on this reasoning, this project is an attempt to analyze the financial

Titan Industries Limited is engaged in manufacturing of watches, jewelry, precision

Present Situation of the Indian Watch Market

Major brands in the Indian watch market:

 The Company proposed to manufacture 2 million digital and ana-digi watches in

 The Company established a manufacturing facility at Hosur for the manufacture of

 A new range of watches called `Aqura' was launched in December.

 During August, the Company issued 2,52,000 - 12.5% convertible debentures

 The Company proposed to offer 40,26,700-12.5% fully convertible debentures

 Rs 40 of the face value of each debenture was to be converted into 1 equity

 Rs 60 of the face value of each debenture was to be converted into 1 equity

 The company undertook to set up a jewellery business at Hosur. The jewellery

 Another 5,69,000 No. of equity shares of Rs 10 each were issued at a premium

 6,99,600 No. of equity shares of Rs 10 each were offered at a premium of Rs

 The Company proposed to expand the watch manufacturing to 5 million pieces by

 A new Company was established in Singapore to market products in South and

 23,00,000 Pref. shares issued on private placement basis.

 Mr A C Mukherji and Mr T K Balaji retire by rotation and are eligible for

 During the year, the Tamilnadu Industrial Development Corporation (TIDCO)

 Titan Industries' jewellery arm Tanishq is getting into an memorandum of

 Titan Industries unveiled a new range of wrist-watches, called the Classique

 Titan Industries Ltd informs that Mr Bhaskar Bhat is appointed as Managing

 Titan Industries Ltd, the Board of Directors have appointed Mr M Kalaivanan,

 Arun Kumar appointed as Director & Chairman of Titan Industries.

 Management decided to declare partial lock-out at the company's manufacturing

 Soldbusiness of publishing Readers Digest Magazine for a lumpsum consideration

 GVM International Ltd., a licensee of Tommy Hilfiger Licensing Inc (a wholly-

 Titan has announced the launch of Raga 9 to 5 collection of watches aimed at

 Rolls out new range of designer eyewear in Chennai

 Titan Industries launches Crown Collection watches

 Titan partners with LVMH Group

 Titan Industries launches Cal Track

 Titan re-introduces Fastrack range of watches

 Titan introduces new gold & steel collection in Coimbatore

 Titan rolls out bi-metal range of watches in Vizag

 Titan launches multiple watches under Raga coordinate range

 Titan to set up Tanishq exclusive stores in US

 Titan Industries unveils Xylys watche

 Titan Ind sets up boutique in Banjara Hill

S.No Name Designation

3 Bhaskar Bhat Managing Director

2 A R Rajaram Company Secretary

4 Das Narayan Das Director

7 T K Balaji Non Executive Independent Director

8 C G Krishnadas Nair Non Executive Independent Director

9 Vinita Bali Non Executive Independent Director

10 Hema Ravichandar Non Executive Independent Director

R Poornalingam Non Executive Independent Director

Non Independent & Non Executive

Non Independent & Non Executive

14 Non Independent & Non Executive

 Dressy Sona Sitara watches for special occasions

Fastrack was launched in 1998 as a sub-brand of Titan. It was spun off as an

Xylys, is an exclusive brand of Swiss made watches from Titan.

Tommy Hilfiger Watches

Hugo Boss Watches

Titan Industries, best known as India's pioneering manufacturer of quartz watches,

manufacturing and assembly operation centers in Hosur in Karnataka, Dehradun,

 Titan is designed for the mid-premium segment.