>TITAN INDUSTRIES: Scheme of Amalgamation

Titan Industries a joint venture between the Tata group and Tamil Nadu Industrial Development Corporation in 1984 for manufacturing and marketing of watches.


The company has sold 135million watches world over and manufactures 13 million watches every year.


During the quarter ended, the robust growth of Net profit is increased by 72.17% Rs.1442.80 million.


Titan Industries Ltd has recommended a dividend on the equity shares of 175%, free of tax, viz., Rs. 1.75 per equity share. (Previous year: 125% free of tax).


Net Sales and PAT of the company are expected to grow at a CAGR of 20% and 27% over 2011 to 2014E respectively.



Q4 FY12 Results Update
Titan Industries Ltd has reported net profit of Rs 1442.80 million for the quarter ended on March 31, 2012 as against Rs 838.00 million in the same quarter last year, an increase of 72.17%. It has reported net sales of Rs 22817.70 million for the quarter ended on March 31, 2012 as against Rs 17779.40 million in the same
quarter last year, a rise of 28.34%. Total income grew by 28.03% to Rs 23069.60 million from Rs.18019.30 million in the same quarter last year. During the quarter, it reported earnings of Rs 1.63 a share.



Recommended Dividend
Titan Industries Ltd has recommended a dividend on the equity shares of 175%, free of tax, viz., Rs. 1.75 per equity share. (Previous year: 125% free of tax).



Scheme of Amalgamation
The company Scheme of Amalgamation of the domestic subsidiary Tanishq (India) Ltd. (transferor Company) with Titan Industries Ltd. (transferee Company).