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Informist, Thursday, Aug. 7, 2025

 

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--Apr-Jun net profit INR 10.30 bln vs INR 7.70 bln year ago
--Analysts saw Titan Apr-Jun net profit at INR 9.20 bln
--Apr-Jun revenue INR 145.64 bln vs INR 120.53 bln year ago
--Apr-Jun jewellery revenue INR 130.00 bln vs INR 107.87 bln yr ago
--Apr-Jun watches revenue INR 12.64 bln vs INR 10.21 bln
--Apr-Jun eyecare revenue INR 2.36 bln vs INR 2.09 bln yr ago
--Apr-Jun EBIT INR 15.96 bln vs INR 12.03 bln year ago
--Apr-Jun EBIT margin 12.1% vs 10.7% year ago
--Apr-Jun jewellery total income INR 127.97 bln, up 19% on year
--Apr-Jun watches total income INR 12.73 bln, up 24% on year
--Apr-Jun intl jewellery business sales INR 5.54 bln, up 49% on year
--Apr-Jun eyecare ops revenue INR 2.38 bln, up 13% on year
--Apr-Jun ops in UAE, North America grew in healthy double digits
--Q1 jewellery ops resilient despite headwinds from higher gold prices
--Apr-Jun jewellery EBIT INR 13.23 bln vs INR 11.03 bln year ago
--Apr-Jun jewellery ops EBIT margin 11.5% vs 11.2% year ago
--Apr-Jun watches EBIT INR 2.86 bln vs INR 1.15 bln year ago
--Apr-Jun watches EBIT margin 22.6% vs 11.3% year ago
--Net added 10 Tanishq stores in Apr-Jun
--CaratLane net added 9 stores in Apr-Jun
--Domestic jewellery business same store retail growth at 12% on year
--Domestic jewellery business studded pdts growth at 11% on year
--Domestic jewellery ops sales growth driven by rise in avg ticket size
--Apr-Jun domestic jewellery ops avg ticket size up 16% on year
--Rise in jewellery ticket size offset impact of elevated gold prices

 

By Narayana Krishna

 

HYDERABAD - Titan Co. Ltd. Thursday reported a net profit of INR 10.30 billion for the June quarter, up nearly 34% on year and over 18% on quarter. The company's revenue from operations for the quarter was up over 20% on year and 8% sequentially at INR 145.64 billion. Titan's results were well ahead of analysts' estimates for both net profit and revenue. Analysts had estimated Titan's net profit for the quarter at INR 9.20 billion and revenue at INR 143.50 billion.

 

The June quarter results were led by growth across segments while the jewellery business showed robust resilience despite higher gold prices. "Ql (Apr-Jun) FY26 (2025-26) has been an encouraging start to the fiscal year with 21% consolidated revenue growth, demonstrating the strength of our diversified business model," Titan said quoting the company's Managing Director C.K. Venkataraman.

 

Titan's jewellery business, the core revenue segment, reported 19% on-year growth in income to INR 127.97 billion, which excludes bullion and digi-gold sales. The revenue from operations of the jewellery business was INR 130.00 billion in the June quarter, up from INR 107.87 billion a year ago.

 

The total income of the company's watches segment for the quarter was up 24% on year at INR 12.73 billion. Revenue from operations of this segment was INR 12.64 billion, against INR 10.21 billion a year ago.

 

Titan said the company remains optimistic about the growth trajectory and its ability to create long-term value across all business segments. For the June quarter, it reported earnings before interest and tax margin of 12.1% against 10.7% a year ago. The EBIT was INR 15.96 billion, against INR 12.03 billion a year ago.

 

The domestic jewellery segment recorded an EBIT of INR 13.21 billion at 11.8% margin. Titan said this business segment had a one-time gain in the quarter, reflecting a positive margin impact of 50 basis points. This may be expected to reverse in the future, it said.

 

The jewellery segment EBIT margin was 11.5%, up from 11.2% a year ago, while the segment EBIT was at INR 13.23 billion. "Our jewellery business continues to show remarkable resilience despite headwinds from elevated gold prices," the company said. "Consumer confidence in gold as both adornment and store of value remains intact, supporting our market leadership position."

 

Within the jewellery business segment, international jewellery sales saw robust 49% growth on year to INR 5.54 billion. The company's operations in the United Arab Emirates and in North America grew in healthy double digits during the June quarter.

 

Titan said the June quarter sales growth in jewellery operations was led primarily by higher ticket sizes due to increased gold prices. The average ticket size for the quarter was up 16% on year. Contrary to analysts' expectations, studded jewellery segment product growth for the quarter was at 11% on year. Same-store retail growth was at 12% on year.

 

The company net added 10 stores of its flagship brand Tanishq during the quarter. For CaratLane, the number of stores added net was nine.

 

"EyeCare has been clocking three quarters of double-digit growth, and we are confident of accelerating this momentum in the coming quarters as we expand our reach and enhance our product offerings," Titan said. "Our emerging brands--SKINN, IRTH, and Taneira--have made substantial progress in optimizing their business mix and are well-positioned to capture greater market share. Our international operations continue to deliver strong growth, opening new avenues for expansion."

 

Titan's eyecare segment saw 13% on-year growth in revenue at INR 2.38 billion, while total income from operations was INR 2.36 billion, against INR 2.09 billion a year ago.

 

While the watches division EBIT margin was 22.6%, against 11.3% a year ago, the segment's EBIT for the quarter was INR 2.86 billion. "Watches delivered one of its best-ever quarters, achieving exceptional performance in both revenue growth and margins," the company said. "This validates our premiumization strategy and the strong consumer connect our brands have established."

 

Titan's expenses for the quarter rose in the higher double digits. The company's total expenses for the quarter were up 19.2% on year at INR 132.91 billion. Total input costs were up 6.6% on year at INR 100.37 billion. Spending on advertisements during the quarter was up 30.2% on year at INR 2.63 billion. Other expenses rose over 7% on year to INR 7.47 billion and finance cost increased nearly 19% on year to INR 2.16 billion. The tax outgo for the June quarter was up almost 40% on year at INR 3.50 billion.

 

Thursday, Titan Co. shares ended flat at INR 3,415.70 on the National Stock Exchange. The company announced its June quarter results after market hours.  End

 

Edited by Rajeev Pai

 

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