Titan files BRSR for FY 2025-26 with ESG targets
Titan Company Limited filed its Business Responsibility and Sustainability Report for FY 2025-26, detailing its ESG strategy 'Pragati' with targets for carbon neutrality and water positivity by FY 2029-30. The report covers operational data, including a workforce of over 20,000, and environmental metrics such as renewable energy usage. Governance structures and complaint handling mechanisms were also disclosed.
*this image is generated using AI for illustrative purposes only.
Titan Company Limited has submitted its Business Responsibility and Sustainability Report (BRSR) for the financial year 2025-26 to the stock exchanges. The report, which forms part of the Integrated Annual Report, outlines the company's environmental, social, and governance (ESG) performance and its strategic framework known as 'Pragati'. This strategy includes ambitious targets such as achieving operational carbon net zero (Scope 1 and Scope 2) and becoming water positive by the financial year 2029-30.
The filing, submitted by Dinesh Shetty, General Counsel & Company Secretary, confirms that the disclosures are made on a standalone basis. The reporting boundary excludes certain sites, including facilities of the Accessories business, sorting centers, and 2,583 franchised retail stores, as they are considered qualitatively and quantitatively immaterial. The company reported a paid-up capital of INR 887.8 million and listed its primary business segments, with Jewellery accounting for 91.52% of the turnover.
Operational and Workforce Details
Titan Company operates through 10 company-owned factories and 42 outsourced factories, alongside 428 company-owned retail stores. The report details the company's workforce, which comprises 8,353 employees and 11,805 workers as of the end of the financial year. The gender distribution shows that women constitute 27% of the total employees and 29% of the total workers. The company also employs 562 differently abled individuals across both categories.
The company has implemented an Occupational Health and Safety Management System (OHSMS) aligned with ISO 45001 standards across its manufacturing units and non-manufacturing locations. During the year, the company reported zero fatalities and emphasized its commitment to safety through initiatives like 'Suraksha Gurukul', a safety experience center designed to enhance competency and behavioral transformation regarding workplace risks.
Environmental Performance and Targets
The BRSR highlights significant environmental initiatives, including the sourcing of 26.83 million units (kWh) of renewable energy for manufacturing factories and the corporate office. The company has set a goal to ensure a 50% reduction and recycling of plastics by FY 2029-30. Assurance for the BRSR core attributes was provided by KPMG Assurance and Consulting Services LLP.
The following table summarizes key business activities contributing to the company's turnover:
| Business Activity | Description | Turnover Contribution |
|---|---|---|
| Jewellery | Design, Manufacturing and Retailing of Jewellery | 91.52% |
| Watches | Design, Manufacturing and Retailing of Watches and Wearables | 6.68% |
| EyeCare | Design, Manufacturing and Retailing of Eyewear and sunglasses | 1.15% |
| Emerging Businesses | Design and Retailing of Indian Dress Wear, Fragrances & Women’s Bags | 0.65% |
Governance and Stakeholder Engagement
Governance oversight is managed through the Board CSR & Sustainability Committee and the Board Ethics Committee. The report confirms that the company has policies covering the National Guidelines on Responsible Business Conduct (NGRBC) principles, though processes for data privacy are still under development. Titan Company also disclosed that it received 12 complaints under the Sexual Harassment of Women at Workplace Act during the year, with 2 cases pending resolution at the close of the financial year.
Historical Stock Returns for Titan
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -0.45% | +3.96% | +9.39% | +10.10% | +20.31% | +154.23% |
How will Titan Company integrate the 2,583 franchised stores currently excluded from reporting into its carbon net zero and water positive targets by FY 2029-30?
What specific capital expenditures or technological investments are required to achieve the 50% plastic reduction and recycling goal within the next five years?
How will the company balance the rapid expansion of its Emerging Businesses segment with the stringent environmental targets set for the dominant Jewellery division?
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