Titan became a 100-bagger due to several factors: strong brand building and customer loyalty, continuous innovation and product development, expansion into multiple categories (jewelry, eyewear), effective management and execution, digital transformation and omnichannel presence, and market leadership in key segments. The company's ability to adapt and grow across different business cycles was crucial.

Key lessons include: invest in companies with strong brand moats and customer loyalty, focus on management quality and execution capabilities, look for companies with multiple growth drivers and diversification, patience is key for multibagger returns, and companies with strong fundamentals can deliver exceptional returns over long periods.

Titan's current valuations (P/E 45x, P/B 12x) appear high but may be justified by its growth prospects, market leadership, and strong fundamentals. The company has multiple growth drivers including digital transformation, international expansion, and new categories. However, investors should consider the high valuation and potential risks before investing.

Key risks include high valuation (P/E 45x), intense competition in all segments, economic cycles affecting discretionary spending, regulatory changes in jewelry and retail sectors, and the need for continuous innovation to maintain market leadership. Investors should consider these risks before investing.

Look for companies with strong brand moats and customer loyalty, multiple growth drivers and business diversification, strong management and execution capabilities, market leadership in key segments, and continuous innovation and adaptation. Focus on companies with strong fundamentals and long-term growth prospects. Study successful business models and identify similar patterns in other companies.