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Titan Industries to merge Titan Properties with itself

02 Jun 2011 Evaluate

Titan Industries’ wholly-owned subsidiary - Titan Properties - proposes to merge with the holding company - Titan Industries - pursuant to a scheme of amalgamation to be filed with the Madras High Court. The company has achieved the objectives for which it was formed and has decided against undertaking further developmental activities due to which it proposes to be merged.

Titan Properties was incorporated to develop a Titan Township near Hosur, for the employees of Titan Industries. Titan also has factory manufacturing jewellery for Tanishq at Hosur. In March this year, the jewellery division Tanishq was also merged with its parent company.

The company has reported a growth of 71.95% in its net profit of Rs 430.42 crore for the year ended March 31, 2011 as compared to Rs 250.32 crore for the year ended March 31, 2010. Total income has jumped 40.35% to Rs 6576.97 crore for the year ended March 31, 2011 where as the same was at Rs 4686.28 crore for the year ended March 31, 2010.

On the consolidated basis, the group’s net profit soared by 72.35% to Rs 433.12 crore as compared to Rs 251.30 crore for the year ended March 31, 2010. Total income of the group rose by 40.52% to Rs 6590.04 crore for the year ended March 31, 2011 from Rs 4689.89 crore for the year ended March 31, 2010.

Titan Co Share Price

4513.40 204.90 (4.76%)
08-May-2026 16:59 View Price Chart
Peers
Company Name CMP
Titan Co 4513.40
Kalyan Jewell.India 424.65
Rajesh Exports 121.80
Senco Gold 365.45
Thangamayil Jeweller 4247.70
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