Titan Company Ltd

Meeting Details

• Date: 21-Aug-26
• Type/Mode: One-on-one meeting, Physical venue
• Organizer: First Seniter Investor Group (FSSA)
• Time: 2:00 p.m. to 3:00 p.m.

Participants

• Company representative: General Counsel & Company Secretary

Purpose

• Purpose: Schedule investor meeting; no price-sensitive information will be discussed.

Additional Notes

• Schedule may change due to exigencies of investors/Company.
• This investor meet is in addition to earlier disclosed meetings.

Resolutions

• Appointment of Dr. D Karthikeyan as Director (Ordinary); Non-Executive, Non-Independent; liable to retire by rotation.
• Appointment of Mr. K Vivekanandan as Director (Ordinary); Non-Executive, Non-Independent; liable to retire by rotation.
• Approval of Scheme 2026 for Titan employees' PSUs; Special.
• Approval of Scheme 2026 for subsidiary employees' PSUs; Special.
• Authorization for secondary acquisition of Titan shares by TESOT for Scheme 2026; Special.

Director profiles

• Dr. D Karthikeyan: IAS; Additional Director from 5 Aug 2026; not independent; eligible to rotate.
• Mr. K Vivekanandan: IAS; Additional Director from 5 Aug 2026; not independent; eligible to rotate.

Scheme 2026 — PSUs and implementation

• PSU cap: 15,00,000 PSUs, about 0.17% of paid-up capital.
• Eligible employees: Titan and subsidiaries; BNRC administers via Titan Trust.
• No new shares issued; secondary acquisitions only.
• Vesting: 3-year performance period, max 5 years; death/incapacity exceptions.
• Exercise price: ₹1 per PSU.
• BNRC to implement through Titan Employee Stock Option Trust.
• Adjustments for corporate actions; rights, bonus, splits; as needed.
• Cross-charge: cost to be recovered from subsidiaries.

Trust, governance and rights

• Trust: Titan Employee Stock Option Trust; voting rights held by Trustees not exercised.
• No fresh issue; dilutions limited to 15,00,000 PSUs.
• PSUs granted to subsidiary employees; cross-charge to subsidiaries.

Voting process and eligibility

• Voting by remote NSDL e-voting; Aug 19, 2026 to Sep 17, 2026.
• Eligibility cut-off: 7 Aug 2026; voting rights proportional to shares.
• Results announced by or before Sep 21, 2026.
• Physical copies not issued; e-voting instructions in Notice.

Outcome status

• Outcome: results not disclosed in filing; to be announced by Sep 21, 2026.

Financial Performance

• Customs duty rise to 15% yielded ₹407 crores consolidated realization.
• ₹386 crores in Tanishq Mia Zoya; ₹21 crores in CaratLane.
• MTM in inventory added 75–80 bps to Jewellery EBIT; reversal expected.
• Watch revaluation benefit last year about ₹50 crores; this quarter much lower.
• Color stone jewellery reclassified from studded to gold; comparatives restated.
• Q1 jewellery margin 10.9% vs 11.3% in the prior year.
• Last year had a 50 bps one-off gain; current margin lower.
• GC margin erosion about 40 bps likely to continue.
• Comparables adjusted; reclassification preserves comparability.

Operating Highlights

• May softness due to Adhik Maas; June recovery with improving buyer sentiment.
• Studded growth resumed in Q1 and continued into Akshaya Tritiya.
• International business ex-Damas earns mid-single-digit EBIT; Damas contribution low.
• Overall portfolio expected to deliver positive EBIT for the year.
• Damas remains contingent; war-related headwinds weigh on Dubai/Saudi procurement.
• Damas international top line around ₹6,000 crores; margins not high.
• TEAL and CaratLane to move toward double-digit EBIT margins long-term.
• Management prioritizes top-line growth; margins to follow.

Guidance & Outlook

• No new guidance; center of gravity around 11% for jewellery margin.
• Long-term double-digit growth in jewellery value; FY30 targets intact.
• Growth will come from regionalization, high-value studded, retail transformation, portfolio play.

Q&A Highlights

• Adhik Maas impact: May softness absorbed; June traction returned.
• Cash-for-gold program launched in June; not materially affecting margins yet.
• Normalized growth strategy: double-digit top-line growth targets remain; depend on gold-price stability.
• CaratLane and TEAL margins under long-run normalization; growth prioritized.
• Exchange program margins: deduction on exchange; program margin-neutral.
• FOD offers: diamond value discount structure unchanged at 20%.
• Gold price stabilization could boost buyer growth and mix toward profitable segments.
• Industry competitiveness remains; no dramatic easing in plain gold jewellery discounts.
• Closing optimism: headroom for growth across Titan businesses remains high.

Management Commentary

• Brand portfolio across jewellery, watches, eyecare and subsidiaries reported solid Q1; July also not bad.
• Management reiterated trajectory for Investor Day targets and long-term double-digit growth.
• Emphasized headroom for growth driven by India growth story and formalization tailwinds.

AGM Details

• Date and time: 27 July 2026 at 2:30 p.m. IST; mode: VC/OAVM.
• Record date: 20 July 2026.

Resolutions and Voting

• Adopt standalone financial statements; ordinary; passed with 99.95% for, 0.05% against.
• Adopt consolidated financial statements; ordinary; passed with 99.9979% for, 0.0021% against.
• Dividend of Rs 15 per equity share declared; ordinary; approved.
• Re-appointment of Noel Naval Tata; ordinary; approved.
• Appointment of Dr. S Vijayakumar as Director; ordinary; approved.

AGM Details

• Date and time: 27 July 2026, 2:30 p.m. IST.
• Mode: VC/OAVM.
• Concluded: 5:10 p.m. IST.
• Quorum and attendance: all Directors attended via VC.

Key Resolutions

• Adopt standalone financial statements for FY ended Mar 31, 2026.
• Adopt consolidated financial statements for FY ended Mar 31, 2026.
• Declare dividend of ₹15 per equity share.
• Re-appoint Noel Naval Tata as director by rotation.
• Appoint Dr. S Vijayakumar as Director.

Voting Results

• Voting results for items 1–5 to be submitted to stock exchanges.
• Combined results to be announced within the stipulated time frame.

Auditors

• No auditor appointments or changes disclosed at this AGM.

Meeting Details

• Date and time: Friday, 7 August 2026, 6:00 PM IST.
• Type and mode: audio conference call (virtual), 60 minutes.
• Event/organiser: Titan Company Limited earnings conference call.

Participants

• Key participants: senior management; General Counsel & Company Secretary to participate.

Purpose

• Purpose: discuss Q1 FY2026-27 standalone and consolidated results.

Additional Notes

• Recording and transcript to be posted on the company website.
• Results to be announced for standalone and consolidated on 7 August 2026.

Dematerialisation/rematerialisation status

• Details of dematerialised/rematerialised securities furnished to all stock exchanges.
• Securities received for dematerialization mutilated and cancelled after due verification.
• Depository name substituted as registered owner within 15 days of receipt of certificate of security.
• Dematerialized certificates listed on exchanges where earlier issued securities were listed.