Eyeing Rs 1 lakh cr uniform consumer price by FY27: Titan’s Venkataraman

Uniform Consumer Price is the maximum retail price of the product.
Titan company logo
Titan company logo

NEW DELHI: Lifestyle firm Titan company Ltd has set sight on Rs 1 lakh crore uniform consumer price on a consolidated basis by 2026-27, managing director CK Venkataraman said in the company’s annual report. The company has also set the target for $500 million uniform consumer price from its international operations by 2026-27.

“Proud flags of Titan Company flying in many cities across the globe and the international business eyeing an impressive $500 million in UCP value by the financial year 2026-27,” said the company in its annual report.

Uniform Consumer Price is the maximum retail price of the product. The UCP value is calculated by adding MRPs of all the products and netting off the discounts, and payments made to channel and franchise partners. The manufacturer of watches, jewelleries and eyewear reported Rs 47,500 crore in revenue and a net profit of Rs 3,496 crore in FY24. As of June 18, the company had a market cap of Rs 3.2 lakh crore.

The shares of the company closed at Rs 3,586 on Tuesday. Addressing shareholders, managing director CK Venkataraman said the company has received an all-round step-jump in standards of excellence spanning product innovation, customer experience and multiple areas of operation.

The Tata Group company derives confidence for improving its reach due to factors such as likely doubling of households in top two income classes by 2030, low market share of most of its businesses and brands as well as unmatched brand value of Titan products.

After establishing strong market share in watches, jewellery and eyewear segment, the company has now ventured into other lifestyle product spectrum, with ethnic wear, smart wearables, fragrances, and women’s bags.

These emerging businesses accounted for the total revenue of Rs 378 crore, registering a jump of 28%.

Related Stories

No stories found.

The New Indian Express