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Today's prices ask more of Titan Company than of Trent.
At current prices, buyers of Titan Company are assuming about 35% growth against 32% in its own record; for Trent it is 35% against 35%. That shows which share needs more to go right — not which is cheaper. How far each trades from its estimated fair value is in the full valuations.
- Valuation method: both on discounted cash flow.
- Size: Titan Company is worth about 2.7 times Trent on the stock market.
- Record: Trent has grown revenue faster: Titan Company compounded at about 24% a year (FY2018–FY2026) and Trent at about 32% (FY2018–FY2026).
- What to watch: share gains from local jewellers at Titan Company; zudio store growth at Trent.
| Titan Company | Trent | |
|---|---|---|
| Price | ₹5,005 | ₹3,119 |
| Market cap | ₹4.45L Cr | ₹1.66L Cr |
| P/E | 63.3 | 87.7 |
| P/B | 28.37 | 23.81 |
| Fair value 🔒 sign in | ₹0,000 | ₹0,000 |
| Upside 🔒 sign in | +00% | +00% |
| Valued on | Discounted cash flow | Discounted cash flow |
01Two businesses
A watchmaker that became a jeweller
Titan Company, a Tata group company promoted jointly with the Tamil Nadu government's TIDCO, began making watches in the 1980s and now earns most of its revenue from jewellery through Tanishq, Mia, Zoya and CaratLane. It also sells watches (Titan, Fastrack, Sonata), eyewear (Titan Eye+), fragrances and Taneira saris.
Zudio, Westside and the Tata name
Trent is the Tata group's retail company. Westside sells mid-priced fashion and home goods under its own brands, and Zudio sells value fashion at very low prices from a rapidly growing chain of stores across India.
02The records side by side
Trent has grown revenue faster: Titan Company compounded at about 24% a year (FY2018–FY2026) and Trent at about 32% (FY2018–FY2026). By revenue, Titan Company is about 4.4 times the size of Trent. Titan Company kept 5.8% of revenue as net profit in FY2026; Trent kept 8.6% of revenue as net profit in FY2026. Titan Company was profitable in every year shown; Trent reported a net loss in FY2021.
Full ten-year tables and charts are on each company's page: Titan Company · Trent.
03What each price assumes
Work backwards from each share price and you can see what buyers are taking for granted — the rate each company must sustain to justify what it costs, against what its own record supports.
04What decides each one's value
- Share gains from local jewellersTanishq's growth has come from customers switching from family jewellers to trusted, hallmarked chains.
- Studded jewelleryDiamond and studded pieces earn much higher margins than plain gold, so the mix matters as much as volume.
- Zudio store growthNew Zudio stores are the main engine of growth.
- Same-store salesWhether older stores keep growing shows how durable demand is.
05What could go wrong
- The multipleA premium P/E leaves little room for a slower year.
- Gold volatility and dutiesSudden price swings or changes in import duty disrupt demand and margins.
- Slowing growthAny slowdown matters a lot when the price assumes rapid growth.
- Competition in value fashionReliance and others are expanding their own low-price fashion chains.
06Which is better value?
Sign in free to see which trades further below its worth
- ✓Both fair values per share — each on the method that fits the business
- ✓Every step of both workings — growth, margins and cost of capital, with sources
- ✓Bull, base and bear cases — for each company
- ✓Downloadable reports — the full write-up for each, yours to keep
08Questions people ask
Is Titan Company or Trent better value?
That turns on how far each share trades from its estimated fair value. Both figures, with every step of the working, are in the full valuations, free to view once you sign in. On the public numbers, Titan Company trades at 63.3 times earnings and 28.37 times book value, and Trent at 87.7 times earnings and 23.81 times book value — but multiples alone mislead when two businesses work differently, which is why each is valued on the method that fits it.
What is the difference between Titan Company and Trent?
Titan Company, a Tata group company promoted jointly with the Tamil Nadu government's TIDCO, began making watches in the 1980s and now earns most of its revenue from jewellery through Tanishq, Mia, Zoya and CaratLane. Trent is the Tata group's retail company.
Are Titan Company and Trent valued the same way?
Yes — both on discounted cash flow, so their workings compare like for like.
What does today's price assume for Titan Company and Trent?
Worked backwards from the share price, Titan Company needs about 35% growth and Trent about 35% growth, against 32% and 35% in their own records.