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Informist, Monday, Apr. 7, 2025

--Titan: Jan-Mar revenue growth 25% on year 

--Titan: Jewellery division saw 25% on year sales growth in Jan-Mar 

--Titan: Watches division saw 22% on year sales growth in Jan-Mar 

--Titan: Eyecare division saw 19% on year sales growth in Jan-Mar 

--Titan: CaratLane division saw 22% on year sales growth in Jan-Mar 

--Titan: Co net added 55 stores in Jan-Mar; total stores at 2,989 on Mar 31 

--Titan: CaratLane net added 17 stores Jan-Mar; total stores at 323 on Mar 31 

MUMBAI – Titan Co. Ltd. Monday said its standalone sales for the March quarter, excluding bullion and digital gold, rose 25% on year. For the financial year ended Mar. 31, its sales rose 21%. The company added 55 new standalone stores in the latest quarter, taking the total store count to 2,989 as of Mar. 31. On a consolidated basis, Titan added 72 stores in the March quarter, taking its retail network to 3,312 stores, the company said in an exchange filing. 

The company's sales in jewellery business rose 25% on year due to a significant increase in gold prices, Titan said. Consumer demand was sluggish at lower price points, leading to a single-digit buyer growth, while it sustained at higher price bands, resulting in a high double-digit growth in ticket sizes. Overall, like-to-like secondary sales in the division were up 15% on-year. In Jan-Mar, 19 stores were added under the jewellery business, taking the total under the division to 768. 

The watches segment's revenue grew 22% on year in Jan-Mar, which included a 20% growth in domestic sales in the segment. The analog watches' segment grew 18% on year. All the key retail channels of Helios, Titan World and Fastrack grew in double digits with Helios channel registering the highest growth, reflecting consumer penchant for premium product offerings. The division added 41 new stores in the Mrach quarter, of which 20 stores were by Titan World, 10 by Helios, and 11 by Fastrack, the company said. 

In its eyecare segment, the company's revenue grew 19% on year with an 18% rise in domestic sales. Titan Eye+, the eyewear business of the company, registered double-digit growth in the quarter driven by international brands. The company has added two new stores under the division in Sharjah and Dubai and closed 11 stores in India during the quarter.  

In emerging businesses, revenue from fragrances grew 26% on year in March quarter and revenue from fashion accessories grew 12% on year. Titan's ethnic wear brand Taneira's revenue grew 4% on year in Jan-Mar. Four store were added under the division in Jan-Mar, taking total to 88 stores as of Mar. 31. 

CaratLane segment, revenue rose 22% on year in Jan-Mar. A total of 17 domestic stores were added by Caratlane during the quarter. Total stores of CaratLane at 323 stores as of Mar. 31. 

Titan had reported a net profit of INR 9.90 billion for the December quarter on revenues of INR 160.97 billion. Monday, shares of the comany closed at INR 3,022.20 on the National Stock Exchange, down 1.8%.  End

Reported by Arya S. Biju

Edited by Deepshikha Bhardwaj

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