More Stories

Informist, Monday, Nov. 3, 2025

 

Please click here to read all liners published on this story

--Titan Jul-Sept net profit INR 10.06 bln
--Analysts saw Titan Jul-Sept net profit at INR 10.70 bln
--Titan Jul-Sept revenue INR 165.34 bln
--Analysts saw Titan Jul-Sept revenue at INR 154.78 bln
--Titan Apr-Sept net profit INR 20.36 bln vs INR 14.75 bln year ago
--Titan Jul-Sept net profit INR 10.06 bln vs INR 7.05 bln year ago
--Titan Jul-Sept revenue INR 165.34 bln vs INR 132.15 bln year ago
--Titan Apr-Sept revenue INR 310.98 bln vs INR 252.68 bln year ago
--Titan Jul-Sept EBIT INR 15.83 bln vs INR 11.28 bln year ago
--Titan Jul-Sept EBIT margin 10.8% vs 9.1% year ago
--Titan Jul-Sept jewellery revenue INR 147.44 bln vs INR 116.47 bln yr ago
--Titan Jul-Sept watches revenue INR 14.71 bln vs INR 13.01 bln yr ago
--Titan Jul-Sept eyecare revenue INR 2.18 bln vs INR 2.01 bln yr ago
--Titan: Demand for jewellery business in India improved during Navratri
--Titan: Jewellery ops grew Q2 on higher ticket size despite tad lower buyers
--Titan Jul-Sept jewellery EBIT INR 13.81 bln vs INR 9.32 bln year ago
--Titan Jul-Sept jewellery ops EBIT margin 10.8% vs 8.7% year ago
--Titan Jul-Sept Tanishq, Mia, Zoya ops like-to-like retail growth 14% on yr
--Titan Jul-Sept gold jewellery grew 13% on year, coins grew 65% on year
--Titan: Jewellery ops saw investment-led demand in Jul-Sept
--Titan Q2 studded jewellery grew 16% on year led by new collections

 

By Rajesh Gajra

 

NEW DELHI – Titan Co. Ltd. missed analysts' estimate on September quarter bottom line but its top line was above the Street view. The top line, while above analysts' expectation, was lower than that in the same quarter a year ago.

 

The year-on-year revenue growth in Titan's predominant segment, jewellery, in the September quarter was lower compared to the year-ago quarter. In its watches segment, the second largest, the company's on-year revenue growth also slowed in the reporting quarter as compared to the same quarter a year ago.

 

The company, which also sells eyewear, reported a net profit of INR 10.1 billion for the September quarter, which was below analysts' estimate of INR 10.7 billion. The net profit was up 43% on year and down 2.3% on quarter. Titan's revenue from operations for the quarter was INR 165.3 billion, above the Street view of INR 154.8 billion. The revenue from operations grew 25% on year and 14% sequentially.

 

Excluding other operating income, the company's net sales for the September quarter increased 18% on year to INR 145 billion. The other operating revenue jumped up 2.1 times on year to INR 20.3 billion. The 18% on-year rise in net sales was lower than 24% on-year growth in net sales in the year-ago quarter, indicating a weakening of the top line performance.

 

Titan reported a 40% on-year jump in its earnings before interest and tax for the September quarter to INR 15.8 billion, with the EBIT margin expanding to 10.8% from 9.1% in the year ago quarter. This was largely due to inventory gains, reported as negative change in inventories, for the September quarter being substantially higher than the inventory gains in the year-ago quarter. The advertising expenses rose 34% on year to INR 3.3 billion in the reporting quarter.

 

PERFORMANCE OF SEGMENTS
Titan's jewellery segment accounts for a big chunk of the total revenue and total EBIT. In the September quarter, the jewellery segment's revenue rose to INR 147.4 billion from INR 116.5 billion in the year ago quarter. The net sales of this segment after excluding bullion sales increased 19% on year to INR 127.9 billion. This 19% on-year growth was, however, notably lower than the 26% on-year growth in net sales in the year-ago quarter.

 

The EBIT of the jewellery segment jumped up 48% on year to INR 13.8 billion in the September quarter, with the EBIT margin expanding to 11% from 8.7% a year ago. The company said the like-to-like retail sales growth in the jewellery sales in its Tanishq, Mia, and Zoya operations was 14% on year. In the year-ago quarter, this like-to-like growth was 15%, indicating stagnancy in the segment.

 

The company said jewellery sales in the country improved during the Navratri festival. While jewellery sales grew during the quarter, it was on the back of slightly lower number of buyers making big-ticket purchases, according to the company. In the September quarter, gold jewellery grew 13% on year, and gold coin sales jumped up 65% on year on the back of investment-led demand. The quarter also witnessed Titan's studded jewellery sales growing 16% on year led by new collections.

 

The company's watches segment recorded a sales growth of 13% on year to INR 14.7 billion. This was lower than the 19% on-year growth in the year ago quarter. The revenue of Titan's eye care segment, through which the company sells spectacles, glasses, and lenses, increased to INR 2.2 billion from INR 2.0 billion.

 

For the six months to September, Titan's net profit rose 38% on year to INR 20.4 billion, on the back of a 23% growth in its revenue from operations to INR 311 billion. The company reported its earnings post market hours. On the National Stock Exchange, shares of the company closed at INR 3,724.50, down 0.6% from Friday.  End

 

Edited by Ashish Shirke

 

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

 

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd. by NSE Data & Analytics Ltd., a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt. Ltd.

 

Informist Media Tel +91 (22) 6985-4000

Send comments to feedback@informistmedia.com

 

© Informist Media Pvt. Ltd. 2025. All rights reserved.