7/30/2019 Wrist Watch Industry
1/18
WRIST WATCH INDUSTRY
1)
INTRODUCTION:
Hindustan Machine Tools was incorporated in 1953 by theGovernment ofIndiaas a machine tool manufacturing company. Over the years diversifiedintowatches, tractors,printingmachinery,metal formingpresses,diecasting&plasticprocessing machinery, CNC systems & bearings. HMT isheadquartered atBengaluru( Bangalore ). Successful technologyabsorption in all product groups through collaborations with worldrenowned manufacturers and further strengthened by continuous in-
houseR&D. Today, HMT comprises sixsubsidiariesunder the ambit of aholding company, which also manages the tractors business directly.
HMT Limited took overPraga Tools Limitedas one of its subsidiaries1988.[2]Praga Tools Limited was established in May, 1943 as Praga ToolsCorporation Limited to manufacture machine tools with its head quartersatSecunderabad. It was renamed as Praga Tools Limited in 1963. It ismainly involved in manufacture of machine tools including CNC machines.
SPECIFICATIONS:
HMT Limited
http://en.wikipedia.org/wiki/Government_of_Indiahttp://en.wikipedia.org/wiki/Government_of_Indiahttp://en.wikipedia.org/wiki/Government_of_Indiahttp://en.wikipedia.org/wiki/Government_of_Indiahttp://en.wikipedia.org/wiki/Watcheshttp://en.wikipedia.org/wiki/Watcheshttp://en.wikipedia.org/wiki/Watcheshttp://en.wikipedia.org/wiki/Tractorshttp://en.wikipedia.org/wiki/Tractorshttp://en.wikipedia.org/wiki/Printinghttp://en.wikipedia.org/wiki/Printinghttp://en.wikipedia.org/wiki/Printinghttp://en.wikipedia.org/wiki/Sheet_Metal_Forminghttp://en.wikipedia.org/wiki/Sheet_Metal_Forminghttp://en.wikipedia.org/wiki/Sheet_Metal_Forminghttp://en.wikipedia.org/wiki/Castinghttp://en.wikipedia.org/wiki/Castinghttp://en.wikipedia.org/wiki/Castinghttp://en.wikipedia.org/wiki/Castinghttp://en.wikipedia.org/wiki/Plastichttp://en.wikipedia.org/wiki/Plastichttp://en.wikipedia.org/wiki/Plastichttp://en.wikipedia.org/wiki/Bengaluruhttp://en.wikipedia.org/wiki/Bengaluruhttp://en.wikipedia.org/wiki/Bengaluruhttp://en.wikipedia.org/wiki/R%26Dhttp://en.wikipedia.org/wiki/R%26Dhttp://en.wikipedia.org/wiki/R%26Dhttp://en.wikipedia.org/wiki/Subsidiarieshttp://en.wikipedia.org/wiki/Subsidiarieshttp://en.wikipedia.org/wiki/Subsidiarieshttp://en.wikipedia.org/wiki/Praga_Tools_Limitedhttp://en.wikipedia.org/wiki/Praga_Tools_Limitedhttp://en.wikipedia.org/wiki/Praga_Tools_Limitedhttp://en.wikipedia.org/wiki/HMT_Limited#cite_note-2http://en.wikipedia.org/wiki/HMT_Limited#cite_note-2http://en.wikipedia.org/wiki/HMT_Limited#cite_note-2http://en.wikipedia.org/wiki/Secunderabadhttp://en.wikipedia.org/wiki/Secunderabadhttp://en.wikipedia.org/wiki/Secunderabadhttp://en.wikipedia.org/wiki/File:Hindustan_Machine_Tools_Logo.gifhttp://www.hmtwatches.in/default.aspxhttp://en.wikipedia.org/wiki/File:Hindustan_Machine_Tools_Logo.gifhttp://www.hmtwatches.in/default.aspxhttp://en.wikipedia.org/wiki/Secunderabadhttp://en.wikipedia.org/wiki/HMT_Limited#cite_note-2http://en.wikipedia.org/wiki/Praga_Tools_Limitedhttp://en.wikipedia.org/wiki/Subsidiarieshttp://en.wikipedia.org/wiki/R%26Dhttp://en.wikipedia.org/wiki/Bengaluruhttp://en.wikipedia.org/wiki/Plastichttp://en.wikipedia.org/wiki/Castinghttp://en.wikipedia.org/wiki/Castinghttp://en.wikipedia.org/wiki/Sheet_Metal_Forminghttp://en.wikipedia.org/wiki/Printinghttp://en.wikipedia.org/wiki/Tractorshttp://en.wikipedia.org/wiki/Watcheshttp://en.wikipedia.org/wiki/Government_of_Indiahttp://en.wikipedia.org/wiki/Government_of_India7/30/2019 Wrist Watch Industry
2/18
Type Public Sector Undertaking
Industry Engineering
Founded 1953
Headquarters Bangalore
Key people S.G. Sridhar(Chairman and Managing Director)
Products Machine Tools, Tractors, watches
ANNUAL REPORT (LATEST AVAI LABLE)
2008-09 2007-08 2006-07 2005-06 2004-05 2003-04 2002-03 2001-02 2000-01
oPeraTingsTaTisTics
Sales 1352 1514 3688 2184 2354 2692 4535 8057 10
Other Income * 371 618 3498 7710 306 939 1039 866 3
Materials 357 551 1288 926 653 891 918 2345 4
Employee Costs 5343 5426 4934 5793 4285 4274 5746 6327 7
Other Costs 1995 1952 11968 3622 3872 5858 4642 5782 5
Depreciation 123 155 195 245 252 352 331 383
Earnings before Interest -6401 -5816 -11405 -314 -7309 -8102 -7429 -7456 -3
Interest 9982 8864 8161 7269 6144 5379 3863 3173 2
Earnings/(Loss) before Tax -16383 -14680 -19566 -7583 -13453 -13481 -11292 -10629 -5Taxation 22 15 15 17
Net Earnings -16405 -14695 -19581 -7600 -13453 -13481 -11292 -10629 -5
financiaL PosiTion
Net Fixed Assets 1243 1337 1220 1412 1647 1900 2183 2521 2
http://en.wikipedia.org/wiki/Types_of_business_entityhttp://en.wikipedia.org/wiki/Types_of_business_entityhttp://en.wikipedia.org/wiki/Public_Sector_Undertakinghttp://en.wikipedia.org/wiki/Public_Sector_Undertakinghttp://en.wikipedia.org/wiki/Engineeringhttp://en.wikipedia.org/wiki/Engineeringhttp://en.wikipedia.org/wiki/Bangalorehttp://en.wikipedia.org/wiki/Bangalorehttp://en.wikipedia.org/wiki/Bangalorehttp://en.wikipedia.org/wiki/Engineeringhttp://en.wikipedia.org/wiki/Public_Sector_Undertakinghttp://en.wikipedia.org/wiki/Types_of_business_entity7/30/2019 Wrist Watch Industry
3/18
Current Assets 6448 7769 9796 8600 8376 9609 12919 17487 20
Current Liabilities & Provisions 21318 20106 18360 18586 16506 17520 22392 13416 1
Working Capital -14870 -12338 -8563 -9986 -8130 -7911 -9473 4071 8
Capital Employed -13627 -11001 -7343 -8574 -6483 -6011 -7290 6592 1
Investments 1 1 1 1 1 1 1 1Miscellaneous Expenditure - 63 290 9733 11587 13125 14131 8324 4
Borrowings 98780 85064 74253 62984 59298 53375 34102 30885 22
Net Worth -112405 -96063 -81595 -71557 -65780 -53865 -41391 -24292 -10
oTHersTaTisTics
Capital Expenditure 27 195 1 18 4 116
Internal Resources Generated -16282 -14540 -19386 -7355 -13201 -13129 -10961 -10246 -5
Working Capital Turnover Ratio -0.09 -0.12 -0.43 -0.22 -0.29 -0.34 -0.48 1.98
Current Ratio 0.30 0.39 0.53 0.46 0.51 0.55 0.58 1.30
Return on Capital(%) -51.98 -63.41 -143.31 -4.17 -117.00 -121.83 -203.81 -81.55 -6
Employees (Nos) 2050 2126 2145 2162 2180 2226 2333 3436 4
Per Capita Sales 0.66 0.71 1.72 1.01 1.08 1.21 1.94 2.34
* Includes Extra Ordinary Items
NOTE:CSR ACTIVIES AND DATA RELATED TO ITIS NOT AVAILABLE
7/30/2019 Wrist Watch Industry
4/18
2)
INTRODUCTION:
Titan was established in 1987, becoming the third Indian watch manufacturer
afterHMTandAllwyn. Titan formed ajoint venturewithTimex Group, which
lasted until 1998, to set up a distribution network across India.
As of 2011, Titan watches account for nearly 60% share of the total Indian market
and are also sold in about 40 countries through marketing subsidiaries basedinLondon,Aden,DubaiandSingapore. Titan offers various brands includingSteel, Regalia, Raga, Fastrack, Technology, Nebula, Bandhan, Sonata, Octane.
Titan has claimed to have manufactured the world's slimmest wrist watch branded
as Titan Edge with a total thickness of 3.5 mm and a movement of 1.15 mm.
In July 2011, Titan launched the HTSE (High Tech Self Energized) collection ofwatches which run on light. According to Titan, these watches can be charged with
as low as 200 lux of light, which makes them chargeable with light even from acandle.On November 16, 2011, Titan Industries acquired Swiss watch
makerFavre-Leubafor Euro 2 million.
SPECIFICATIONS:
Titan Industries Limited
Type Public
Industry Luxury goods
http://en.wikipedia.org/wiki/Hindustan_Machine_Toolshttp://en.wikipedia.org/wiki/Hindustan_Machine_Toolshttp://en.wikipedia.org/wiki/Hindustan_Machine_Toolshttp://en.wikipedia.org/wiki/Hyderabad_Allwyn_Limitedhttp://en.wikipedia.org/wiki/Hyderabad_Allwyn_Limitedhttp://en.wikipedia.org/wiki/Hyderabad_Allwyn_Limitedhttp://en.wikipedia.org/wiki/Joint_venturehttp://en.wikipedia.org/wiki/Joint_venturehttp://en.wikipedia.org/wiki/Joint_venturehttp://en.wikipedia.org/wiki/Timex_Group_USAhttp://en.wikipedia.org/wiki/Timex_Group_USAhttp://en.wikipedia.org/wiki/Timex_Group_USAhttp://en.wikipedia.org/wiki/Londonhttp://en.wikipedia.org/wiki/Londonhttp://en.wikipedia.org/wiki/Londonhttp://en.wikipedia.org/wiki/Adenhttp://en.wikipedia.org/wiki/Adenhttp://en.wikipedia.org/wiki/Adenhttp://en.wikipedia.org/wiki/Dubaihttp://en.wikipedia.org/wiki/Dubaihttp://en.wikipedia.org/wiki/Dubaihttp://en.wikipedia.org/wiki/Singaporehttp://en.wikipedia.org/wiki/Singaporehttp://en.wikipedia.org/wiki/Singaporehttp://en.wikipedia.org/wiki/Favre-Leubahttp://en.wikipedia.org/wiki/Favre-Leubahttp://en.wikipedia.org/wiki/Favre-Leubahttp://en.wikipedia.org/wiki/Types_of_business_entityhttp://en.wikipedia.org/wiki/Types_of_business_entityhttp://en.wikipedia.org/wiki/Luxury_goodshttp://en.wikipedia.org/wiki/Luxury_goodshttp://en.wikipedia.org/wiki/File:Titan_Industries_Logo.svghttp://en.wikipedia.org/wiki/File:Titan_Industries_Logo.svghttp://en.wikipedia.org/wiki/Luxury_goodshttp://en.wikipedia.org/wiki/Types_of_business_entityhttp://en.wikipedia.org/wiki/Favre-Leubahttp://en.wikipedia.org/wiki/Singaporehttp://en.wikipedia.org/wiki/Dubaihttp://en.wikipedia.org/wiki/Adenhttp://en.wikipedia.org/wiki/Londonhttp://en.wikipedia.org/wiki/Timex_Group_USAhttp://en.wikipedia.org/wiki/Joint_venturehttp://en.wikipedia.org/wiki/Hyderabad_Allwyn_Limitedhttp://en.wikipedia.org/wiki/Hindustan_Machine_Tools7/30/2019 Wrist Watch Industry
5/18
Founded 1987
Headquarters Bengaluru[1],India
Area served Global
Key people Vikram Kapur (Chairman)
Bhaskar Bhat (MD)
Products Watches/accessories,jewelry, precision
engineering andEyewear
Revenue 8,942crore(US$1.5 billion) (2012)[2]
Net income 601crore(US$100 million) (2012)[3]
Employees 6,000
Parent Tata Group
TIDCO
CSR ACTIVI TI ES:
Community Development and CSR Policy
Titan Industries has a clearly defined policy for Corporate Social Responsibility (CSR). As part of
the company's CSR initiative, the manufacturing units of Watch and Jewellery Divisions at Hosurhave acquired the certifications 'ISO 9001: 2000 Quality Management System Standards' and
'ISO 14001:2000 Environment System Standard' emphasising the efforts to be an ecologically
responsible organisation.
http://en.wikipedia.org/wiki/Bengaluruhttp://en.wikipedia.org/wiki/Bengaluruhttp://en.wikipedia.org/wiki/Bengaluruhttp://en.wikipedia.org/wiki/Indiahttp://en.wikipedia.org/wiki/Indiahttp://en.wikipedia.org/wiki/Indiahttp://en.wikipedia.org/wiki/Watcheshttp://en.wikipedia.org/wiki/Watcheshttp://en.wikipedia.org/wiki/Jewelryhttp://en.wikipedia.org/wiki/Jewelryhttp://en.wikipedia.org/wiki/Jewelryhttp://en.wikipedia.org/wiki/Eyewearhttp://en.wikipedia.org/wiki/Eyewearhttp://en.wikipedia.org/wiki/Crorehttp://en.wikipedia.org/wiki/Crorehttp://en.wikipedia.org/wiki/Crorehttp://en.wikipedia.org/wiki/Titan_Industries#cite_note-2http://en.wikipedia.org/wiki/Titan_Industries#cite_note-2http://en.wikipedia.org/wiki/Titan_Industries#cite_note-2http://en.wikipedia.org/wiki/Net_incomehttp://en.wikipedia.org/wiki/Net_incomehttp://en.wikipedia.org/wiki/Crorehttp://en.wikipedia.org/wiki/Crorehttp://en.wikipedia.org/wiki/Crorehttp://en.wikipedia.org/wiki/Titan_Industries#cite_note-3http://en.wikipedia.org/wiki/Titan_Industries#cite_note-3http://en.wikipedia.org/wiki/Titan_Industries#cite_note-3http://en.wikipedia.org/wiki/Holding_companyhttp://en.wikipedia.org/wiki/Holding_companyhttp://en.wikipedia.org/wiki/Tata_Grouphttp://en.wikipedia.org/wiki/Tata_Grouphttp://en.wikipedia.org/wiki/TIDCOhttp://en.wikipedia.org/wiki/TIDCOhttp://en.wikipedia.org/wiki/Indian_rupeehttp://en.wikipedia.org/wiki/Indian_rupeehttp://en.wikipedia.org/wiki/Indian_rupeehttp://en.wikipedia.org/wiki/Indian_rupeehttp://en.wikipedia.org/wiki/TIDCOhttp://en.wikipedia.org/wiki/Tata_Grouphttp://en.wikipedia.org/wiki/Holding_companyhttp://en.wikipedia.org/wiki/Titan_Industries#cite_note-3http://en.wikipedia.org/wiki/Crorehttp://en.wikipedia.org/wiki/Net_incomehttp://en.wikipedia.org/wiki/Titan_Industries#cite_note-2http://en.wikipedia.org/wiki/Crorehttp://en.wikipedia.org/wiki/Eyewearhttp://en.wikipedia.org/wiki/Jewelryhttp://en.wikipedia.org/wiki/Watcheshttp://en.wikipedia.org/wiki/Indiahttp://en.wikipedia.org/wiki/Bengaluruhttp://en.wikipedia.org/wiki/Bengaluru7/30/2019 Wrist Watch Industry
6/18
The company's diverse CSR initiatives include:
Children's education
Enabling the disabled
Artisan parks Women's empowerment
Environment management programmes
Miscellaneous community initiatives
Titan Industries' community initiatives are committed to build partnership for social
development, focus on sustainable initiatives and improve the quality of life of the communities
where the initiatives operate. With a dedicated force of 250 enthusiastic employee volunteers,
the company has formed a Community Development Forum. This forum works towards
mobilising society and volunteers to make the community initiatives a success. The company's
miscellaneous community development activities include orphanage support, HIV/Aids
awareness, village adoption, vision improvement program, a program to provide work to rural
unemployed women, community rehabilitation, tsunami relief work, eradication of child labour
and environment protection, to name a few. The company has made a positive change in the
lives of over 2000 people.
Corporate responsibility begins at home
Titan Industries believes that corporate responsibility begins with the employees. The company
ensures that the harmony, peace and inclusive approach at work place are maintained. Efforts
are made to engage the employees in programs designed to fulfil our ecological and social
responsibility. Various work-place initiatives are conducted to achieve this: War on Waste - an
initiative that reduced the impact of manufacturing operations on the environment. At Titan
Industries, Corporate Social Responsibility is more than philanthropy - it is an internal process
that reflects the soul of the company.
Successful CSR programmes:
Titan Industries has embarked on and completed several community development programmes
as part of its CSR initiative. A few among these successful projects are:
Titan Scholarship - Have been awarded to students in Dharmapuri and Krishnagiri
districts (Tamil Nadu), based on academic performance and socio-economic background for
over 550 students form the economically backward section.
Titan Industries has embarked on and completed several community development programmes
7/30/2019 Wrist Watch Industry
7/18
as part of its CSR initiative. A few among these successful projects are:
Titan Township - A sustainable community in Hosur (Tamilnadu), that provides housing to
1300 residents collaborating with NGOs MCA and Ashraya.
Employment- To over 120 physically challenged people.
Karigar Park - A social entrepreneurship project with six parks, benefiting over 400
artisans.
Titan School and Titan Foundation for Education - A primary school with
over 550 students, expanding to classes IX and X with a provision to accommodate 160 more
students.
Meadow Project (Myrada)- a collaborated effort with self-help groups of rural
women to provide gainful employment to more than 400 rural women in and around Hosur
(Tamil Nadu)M
Recognition of CSR:
As an appreciation of its significant contribution to the community welfare, Titan Industries has
received the 'President of India's Award' for employing the disabled. Titan Industries, a
signatory to the Global Compact, is a recipient of the prestigious 'Helen Keller Award' and the
'Mother Teresa Award'. The company has also been ranked as one of the top four, top ten and
Top eleven companies in the 'Karmayog CSR Rating of India's Top 500 Companies' in December
2007, 2008 and 2009 respectively.
Other noteworthy awards for CSR include:
- FICCI-SEDF Award for Social Responsibility
- The Rotary Club of Bangalore Award for Corporate Citizenship
- The PHDCII Award for Good Corporate Citizenship
Ranked among the nation's best corporate citizens, Titan Industries is committed to take on the
social responsibility and fulfil it with dedication.
7/30/2019 Wrist Watch Industry
8/18
PERFORMANCE STATS :
Annual results in brief
(Rs crore)
Mar ' 13 Mar ' 12 Mar ' 11 Mar ' 10 Mar ' 09
Sales 10,112.67 8,839.28 6,521.64 4,675.00 3,848.62
Operating profit 1,010.63 833.84 586.36 395.54 297.39
Interest 50.64 43.71 8.21 25.42 29.43
Gross profit 1,060.76 883.34 633.48 381.40 272.32
EPS (Rs) 8.17 6.76 9.70 5.64 3.58
Annual results in details
Mar ' 13 Mar ' 12 Mar ' 11 Mar ' 10 Mar ' 09
Other income 100.77 93.21 55.33 11.28 4.36
Stock adjustment -812.88 -761.86 -500.28 -111.66 -178.67
Raw material 6,772.92 6,145.08 4,454.66 3,148.90 2,591.29
Power and fuel - - - - -
Employee expenses 484.52 392.34 392.96 274.49 233.40
Excise - - - - 44.34
Admin and selling expenses 377.09 381.42 303.27 211.15 181.36
Research and development expenses - - - - -
7/30/2019 Wrist Watch Industry
9/18
Mar ' 13 Mar ' 12 Mar ' 11 Mar ' 10 Mar ' 09
Expenses capitalised - - - - -
Other expenses 2,280.39 1,848.46 1,284.67 756.58 679.51
Provisions made - - - - -
Depreciation 54.49 44.90 34.48 60.08 41.76
Taxation 281.09 238.29 165.36 68.08 60.68
Net profit / loss 725.18 600.15 430.42 250.32 158.96
Extra ordinary item - - - - -
Prior year adjustments - - -3.22 -2.92 -10.92
Equity capital 88.78 88.78 44.39 44.39 44.39
Equity dividend rate - - - - -
Agg.of non-prom. shares (Lacs) 4167.78 4167.78 206.46 208.10 208.39
Agg.of non promotoholding (%) 46.90 46.90 46.50 46.90 46.90
OPM (%) 9.99 9.43 8.99 8.46 7.73
GPM (%) 10.39 9.89 9.63 8.14 7.07
NPM (%) 7.10 6.72 6.54 5.34 4.13
7/30/2019 Wrist Watch Industry
10/18
Balance sheet
(Rs crore)
Mar ' 13 Mar ' 12 Mar ' 11 Mar ' 10 Mar ' 09
Sources of funds
Owner's fund
Equity share capital 88.78 88.78 44.39 44.39 44.39
Share application money - - - - -
Preference share capital - - - - -
Reserves & surplus 1,876.09 1,361.12 980.99 679.99 506.85
Loan funds
Secured loans - 5.89 67.70 72.79 116.76
Unsecured loans - - - - 58.65
Total 1,964.87 1,455.79 1,093.08 797.17 726.65
Uses of funds
Fixed assets
Gross block 911.19 738.03 672.15 624.33 593.04
Less : revaluation reserve - - - - -
Less : accumulated depreciation 462.56 369.31 389.08 361.70 318.56
Net block 448.64 368.73 283.07 262.63 274.48
Capital work-in-progress 41.66 30.63 19.36 12.29 19.52
Investments 18.51 16.05 9.13 7.63 7.66
7/30/2019 Wrist Watch Industry
11/18
Mar ' 13 Mar ' 12 Mar ' 11 Mar ' 10 Mar ' 09
Net current assets
Current assets, loans & advances 5,365.98 4,307.53 3,444.38 1,821.65 1,492.42
Less : current liabilities & provisions 3,909.92 3,267.14 2,662.85 1,307.02 1,067.44
Total net current assets 1,456.06 1,040.39 781.53 514.63 424.98
Miscellaneous expenses not written - - - - -
Total 1,964.87 1,455.79 1,093.08 797.17 726.65
Notes:
Book value of unquoted investments 18.42 15.96 9.03 7.53 7.57
Market value of quoted investments 0.19 0.22 0.24 0.25 0.10
Contingent liabilities 476.74 191.17 93.07 72.19 65.46
Number of equity shares outstanding (Lacs) 8877.86 8877.86 443.89 443.89 443.89
7/30/2019 Wrist Watch Industry
12/18
Profit loss account
(Rs crore)
Mar ' 13 Mar ' 12 Mar ' 11 Mar ' 10 Mar ' 09
Income
Operating income 10,112.67 8,838.38 6,661.75 4,674.42 3,881.75
Expenses
Material consumed 7,574.71 6,624.00 4,803.96 3,449.39 2,762.19
Manufacturing expenses 45.56 35.17 29.87 23.58 25.10
Personnel expenses 484.53 395.24 395.07 275.64 234.20
Selling expenses - 463.37 516.88 358.21 308.29
Adminstrative expenses 997.25 452.67 287.72 131.34 205.38
Expenses capitalised - -2.70 -0.19 -0.04 -0.09
Cost of sales 9,102.04 7,967.76 6,033.31 4,238.12 3,535.06
Operating profit 1,010.63 870.62 628.44 436.30 346.68
Other recurring income 100.77 94.11 56.08 11.78 5.26
Adjusted PBDIT 1,111.40 964.74 684.52 448.08 351.94
Financial expenses 50.64 79.14 49.23 63.52 68.46
Depreciation 54.49 44.90 34.48 60.08 41.76
Other write offs - - - - -
Adjusted PBT 1,006.27 840.70 600.81 324.48 241.73
7/30/2019 Wrist Watch Industry
13/18
Mar ' 13 Mar ' 12 Mar ' 11 Mar ' 10 Mar ' 09
Tax charges 281.09 233.61 165.36 68.08 60.68
Adjusted PAT 725.18 607.09 435.45 256.40 181.05
Non recurring items - -2.26 -1.81 -3.16 -11.17
Other non cash adjustments - -4.68 -3.22 -2.92 -10.92
Reported net profit 725.18 600.16 430.42 250.32 158.96
Earnigs before appropriation 1,367.61 1,033.07 703.33 461.35 377.51
Equity dividend 186.44 155.36 110.97 66.58 44.39
Preference dividend - - - - -
Dividend tax 31.68 25.20 18.00 11.06 7.54
Retained earnings 1,149.49 852.50 574.36 383.71 325.58
Sales (2007-2008) = Rs. 3000 crores (rounded off)
Net profit after tax = Rs. 160 crores (rounded off)
CSR Budget = Not Available
http://ads.rediff.com/5c/inmoneyCD.rediff.com/stock-companydetails.htm/1038798555/BOX03/default/empty.gif/4f376361665648776e66674142422f74http://ads.rediff.com/5c/inmoneyCD.rediff.com/stock-companydetails.htm/255466181/BOX03/default/empty.gif/4f376361665648776e66674142422f74http://ads.rediff.com/5c/inmoneyCD.rediff.com/stock-companydetails.htm/1915375853/BOX03/default/empty.gif/4f376361665648776e66674142422f74http://ads.rediff.com/5c/inmoneyCD.rediff.com/stock-companydetails.htm/1038798555/BOX03/default/empty.gif/4f376361665648776e66674142422f74http://ads.rediff.com/5c/inmoneyCD.rediff.com/stock-companydetails.htm/255466181/BOX03/default/empty.gif/4f376361665648776e66674142422f74http://ads.rediff.com/5c/inmoneyCD.rediff.com/stock-companydetails.htm/1915375853/BOX03/default/empty.gif/4f376361665648776e66674142422f74http://ads.rediff.com/5c/inmoneyCD.rediff.com/stock-companydetails.htm/1038798555/BOX03/default/empty.gif/4f376361665648776e66674142422f74http://ads.rediff.com/5c/inmoneyCD.rediff.com/stock-companydetails.htm/255466181/BOX03/default/empty.gif/4f376361665648776e66674142422f74http://ads.rediff.com/5c/inmoneyCD.rediff.com/stock-companydetails.htm/1915375853/BOX03/default/empty.gif/4f376361665648776e66674142422f747/30/2019 Wrist Watch Industry
14/18
3)
INTRODUCTION:
Citizen Holdings Co., Ltd. (Shichizun Hrudingusu Kabushiki-gaisha?) is the
core company of aJapaneseglobalcorporategroup based inTokyo,Japan. The
company was originally founded as Shokosha Watch Research Institute in 1918and is currently known as the manufacturer of Cincom precision lathe machine
tools as well as Citizen watches. The trade name originated from a pocket watch
Citizen sold in 1924. It is one of the world's largest producers of watches.
Eco-Drivewatches use a battery recharged by a solar panel hidden under the
watch face. In the rare and discontinued Eco-Drive Duo series, the solar power
was supplemented by anautomatic quartzpower source. There was also an
Eco-Drive Thermo model that exploited temperature differentials between the
wearer's skin temperature and ambient temperature to recharge the battery.
However, the only Eco-Drive system described on the Citizen Watch official website is the one depending solely on light to recharge. Features similar to the Eco-
Drive have been developed by other manufacturers likeCasioorJunghans. All
Citizen Eco-Drive models are made in Japan but assembled in China.
SPECIFICATIONS:
Type Public(TYO:7762)
Founded 1918 as Shokosha Watch Research Institute
(on May 28, 1930, company took on current
http://en.wikipedia.org/wiki/Help:Installing_Japanese_character_setshttp://en.wikipedia.org/wiki/Help:Installing_Japanese_character_setshttp://en.wikipedia.org/wiki/Japanhttp://en.wikipedia.org/wiki/Japanhttp://en.wikipedia.org/wiki/Japanhttp://en.wikipedia.org/wiki/Corporationhttp://en.wikipedia.org/wiki/Corporationhttp://en.wikipedia.org/wiki/Corporationhttp://en.wikipedia.org/wiki/Tokyohttp://en.wikipedia.org/wiki/Tokyohttp://en.wikipedia.org/wiki/Tokyohttp://en.wikipedia.org/wiki/Japanhttp://en.wikipedia.org/wiki/Japanhttp://en.wikipedia.org/wiki/Japanhttp://en.wikipedia.org/wiki/Eco-Drivehttp://en.wikipedia.org/wiki/Eco-Drivehttp://en.wikipedia.org/wiki/Automatic_quartzhttp://en.wikipedia.org/wiki/Automatic_quartzhttp://en.wikipedia.org/wiki/Automatic_quartzhttp://en.wikipedia.org/wiki/Casiohttp://en.wikipedia.org/wiki/Casiohttp://en.wikipedia.org/wiki/Casiohttp://en.wikipedia.org/wiki/Junghanshttp://en.wikipedia.org/wiki/Junghanshttp://en.wikipedia.org/wiki/Junghanshttp://en.wikipedia.org/wiki/Types_of_business_entityhttp://en.wikipedia.org/wiki/Types_of_business_entityhttp://en.wikipedia.org/wiki/Public_companyhttp://en.wikipedia.org/wiki/Public_companyhttp://en.wikipedia.org/wiki/Tokyo_Stock_Exchangehttp://en.wikipedia.org/wiki/Tokyo_Stock_Exchangehttp://en.wikipedia.org/wiki/Tokyo_Stock_Exchangehttp://quote.tse.or.jp/tse/quote.cgi?F=listing%2FEDetail1&MKTN=T&QCODE=7762http://quote.tse.or.jp/tse/quote.cgi?F=listing%2FEDetail1&MKTN=T&QCODE=7762http://quote.tse.or.jp/tse/quote.cgi?F=listing%2FEDetail1&MKTN=T&QCODE=7762http://en.wikipedia.org/wiki/File:Citizen_Logo.svghttp://en.wikipedia.org/wiki/File:Citizen_Logo.svghttp://quote.tse.or.jp/tse/quote.cgi?F=listing%2FEDetail1&MKTN=T&QCODE=7762http://en.wikipedia.org/wiki/Tokyo_Stock_Exchangehttp://en.wikipedia.org/wiki/Public_companyhttp://en.wikipedia.org/wiki/Types_of_business_entityhttp://en.wikipedia.org/wiki/Junghanshttp://en.wikipedia.org/wiki/Casiohttp://en.wikipedia.org/wiki/Automatic_quartzhttp://en.wikipedia.org/wiki/Eco-Drivehttp://en.wikipedia.org/wiki/Japanhttp://en.wikipedia.org/wiki/Tokyohttp://en.wikipedia.org/wiki/Corporationhttp://en.wikipedia.org/wiki/Japanhttp://en.wikipedia.org/wiki/Help:Installing_Japanese_character_sets7/30/2019 Wrist Watch Industry
15/18
name)
Headquarters Nishitky,Tokyo
Key people Makoto Umehara (President)
Products Watches and parts, Information equipment and
parts, Electronic equipment and parts,
Industrial machinery and equipment, Jewelry
Revenue 252.5 billion
$2.72 billion (FY2010)[1]
Operating
income
7.2 billion
$77.7 million (FY2010)[1]
Net income 3.5 billion
$37.9 million (FY2010)[1]
Employees 16,813
(As of March 31, 2010)
[1]
CSR ACTIVI TI ES:
Environmental Management System
We have established a group-wide environmental management system to efficiently and precisely
promote environmental management throughout the Citizen Group. The Group Environmental
Management Committee meets each year, bringing together environmental managers at domestic
offices to determine the status of activities by each company to investigate annual environmental
policies and common issues and make decisions.
Our domestic production companies have obtained ISO 14001 certification and conduct environmental
management based on the nature of their business. At our overseas production companies meanwhile,
http://en.wikipedia.org/wiki/Nishit%C5%8Dky%C5%8D,_Tokyohttp://en.wikipedia.org/wiki/Nishit%C5%8Dky%C5%8D,_Tokyohttp://en.wikipedia.org/wiki/Tokyohttp://en.wikipedia.org/wiki/Tokyohttp://en.wikipedia.org/wiki/Tokyohttp://en.wikipedia.org/wiki/Presidenthttp://en.wikipedia.org/wiki/Presidenthttp://en.wikipedia.org/wiki/Presidenthttp://en.wikipedia.org/wiki/Fiscal_yearhttp://en.wikipedia.org/wiki/Fiscal_yearhttp://en.wikipedia.org/wiki/Fiscal_yearhttp://en.wikipedia.org/wiki/Citizen_Holdings#cite_note-Annual_Report_FY2010-1http://en.wikipedia.org/wiki/Citizen_Holdings#cite_note-Annual_Report_FY2010-1http://en.wikipedia.org/wiki/Citizen_Holdings#cite_note-Annual_Report_FY2010-1http://en.wikipedia.org/wiki/Earnings_before_interest_and_taxeshttp://en.wikipedia.org/wiki/Earnings_before_interest_and_taxeshttp://en.wikipedia.org/wiki/Earnings_before_interest_and_taxeshttp://en.wikipedia.org/wiki/Fiscal_yearhttp://en.wikipedia.org/wiki/Fiscal_yearhttp://en.wikipedia.org/wiki/Fiscal_yearhttp://en.wikipedia.org/wiki/Citizen_Holdings#cite_note-Annual_Report_FY2010-1http://en.wikipedia.org/wiki/Citizen_Holdings#cite_note-Annual_Report_FY2010-1http://en.wikipedia.org/wiki/Citizen_Holdings#cite_note-Annual_Report_FY2010-1http://en.wikipedia.org/wiki/Net_incomehttp://en.wikipedia.org/wiki/Net_incomehttp://en.wikipedia.org/wiki/Fiscal_yearhttp://en.wikipedia.org/wiki/Fiscal_yearhttp://en.wikipedia.org/wiki/Fiscal_yearhttp://en.wikipedia.org/wiki/Citizen_Holdings#cite_note-Annual_Report_FY2010-1http://en.wikipedia.org/wiki/Citizen_Holdings#cite_note-Annual_Report_FY2010-1http://en.wikipedia.org/wiki/Citizen_Holdings#cite_note-Annual_Report_FY2010-1http://en.wikipedia.org/wiki/Citizen_Holdings#cite_note-Annual_Report_FY2010-1http://en.wikipedia.org/wiki/Citizen_Holdings#cite_note-Annual_Report_FY2010-1http://en.wikipedia.org/wiki/Citizen_Holdings#cite_note-Annual_Report_FY2010-1http://en.wikipedia.org/wiki/Citizen_Holdings#cite_note-Annual_Report_FY2010-1http://en.wikipedia.org/wiki/Citizen_Holdings#cite_note-Annual_Report_FY2010-1http://en.wikipedia.org/wiki/Fiscal_yearhttp://en.wikipedia.org/wiki/Net_incomehttp://en.wikipedia.org/wiki/Citizen_Holdings#cite_note-Annual_Report_FY2010-1http://en.wikipedia.org/wiki/Fiscal_yearhttp://en.wikipedia.org/wiki/Earnings_before_interest_and_taxeshttp://en.wikipedia.org/wiki/Earnings_before_interest_and_taxeshttp://en.wikipedia.org/wiki/Citizen_Holdings#cite_note-Annual_Report_FY2010-1http://en.wikipedia.org/wiki/Fiscal_yearhttp://en.wikipedia.org/wiki/Presidenthttp://en.wikipedia.org/wiki/Tokyohttp://en.wikipedia.org/wiki/Nishit%C5%8Dky%C5%8D,_Tokyo7/30/2019 Wrist Watch Industry
16/18
we focus on initiatives that are crucial to manufacturing environmentally-friendly products, including
green procurement and chemical substance management, and continue to make steady progress in
terms of ISO 14001 certification. We also carry out activities aimed at reducing environmental impact
at non-manufacturing companies, based on the nature of each company's operations.
Environmental Education and Awareness Building Efforts
In practicing environmental management, it is essential that all Group employees are aware of the
importance of the activities. For instance, Citizen Holdings' Tokyo Office incorporates environmental
education into its training for new recruits. It also provides Environmental Personnel Training, Internal
Auditor Training, and Environmental Statutory Compliance Assessment Training annually for personnel
working on the environment in each department. Production departments handling toxic, harmful, and
other hazardous substances conduct emergency drills.
We have introduced the Citizen Business License scheme, an original scheme that encourages and
supports proactive efforts to acquire public qualifications such as those for pollution control managers
and energy managers.
Environmental auditing
Our Tokyo and Tokorozawa Works undergo an annual external audit conducted by an ISO assessment
organization. We also conduct internal audits twice a year as a rule.
Environmental Risk Management
Our environmental risk management activities within the Citizen Group cover areas such as
compliance with environmental legislation, management of chemical substances contained in our
products, waste and recycling governance and measures to combat soil and groundwater
contamination. We aim to implement effective measures at all Group companies based on information
exchanged via the Group Environmental Management Committee.
7/30/2019 Wrist Watch Industry
17/18
PERFORMANCE STATS :
EARNINGS INFORMATION
Items 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
Net sales (millions of yen)
3757
15
3572
88
3359
40
3361
88
3366
85
2968
57
2525
02
2849
64
2797
86
2720
50
Cost of sales (millions of
yen)
2671
09
2470
75
2298
26
2304
23
2263
83
2050
05
1699
59
1886
02
1809
77
1765
98
Selling general and
administrative expenses
(millions of yen)
7309
8
7312
0
7559
6
8384
5
8603
9
9045
3
7531
3
7965
8
8228
0
8390
2
Operating income (millions
of yen)
3550
6
3709
2
3051
6
2192
0
2426
2 1398 7229
1670
2
1652
8
1154
9
Ordinary income (millions
of yen)
3539
2
4011
8
3463
4
2599
1
2474
6 748 7976
1480
2
1672
7
1380
5
Net income (millions of
yen)
1946
5
2023
3
1859
4 7145
1218
9
-
2580
6 3527 5123 7698
-
8855
Overseas sales ratio () 62.2 58.2 58 58 60.1 59.2 59.9 61.9 61.6 62.5
Selling general and
administrative expenses to
net sales () 19.5 20.5 22.5 24.9 25.6 30.5 29.8 28 29.4 30.8
Gross profit to net sales
() 28.9 30.8 31.6 31.5 32.8 30.9 32.7 33.8 35.3 35.1
Operating income margin
() 9.5 10.4 9.1 6.5 7.2 0.5 2.9 5.9 5.9 4.2
BALANCE SHEET
Items 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013
Total assets (millions
of yen)
3915
26
3905
65
4024
97
3829
71
3879
75
3742
39
3524
62
3303
21
3380
25
3546
70
Net assets (millions of
yen)
2516
05
2706
49
2764
11
2544
26
2438
30
1842
29
1863
62
1841
32
1888
53
1924
09
Total current assets(millions of yen)
275565
273126
267921
231442
232980
232372
221158
206364
219438
225868
Total fixed assets
(millions of yen)
1159
60
1174
38
1345
75
1515
29
1549
94
1418
66
1313
03
1239
57
1185
87
1288
01
Total current liabilities
(millions of yen)
1009
81
8282
0
7935
1
8357
8
7523
1
8534
2
8525
7
6561
1
8434
9
1136
38
Total fixed liabilities
(millions of yen)
3893
9
3709
5
4466
3
4496
5
6891
2
1046
67
8084
1
8057
7
6482
2
4862
2
7/30/2019 Wrist Watch Industry
18/18
Interest-bearing debt
(millions of yen)
3209
9
2956
1
2723
5
2761
4
5791
7
1223
52
1004
66
7395
7
7322
3
7396
2
Equity ratio () 57.4 61.7 68.7 65.9 62.4 47.9 51.8 55.4 55.5 53.3
ROE () 8.7 8.4 7.2 2.7 4.9 -12.3 2 2.8 4.2 -4.7
ROA () 5.1 5.2 4.7 1.8 3.2 -6.8 1 1.5 2.3 -2.6
CSR Budget = Not Available
Top Related