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Informist, Wednesday, Feb. 11, 2026

 

--Titan: See greater traction at higher jewellery price points versus lower 

--CONTEXT: Comments by Titan's management in post-earnings analyst concall 

--Titan: Margins likely to be hampered if gold prices continue to rise 

--Titan: Saw early signs of results from efforts to woo customers back Jan 

--Titan:Younger customers also interested in gold, trend expected to sustain 

 

By Shakshi Jain and Arundathi A R

 

NEW DELHI/MUMBAI – Amid rising and volatile gold prices, Titan Co. Ltd. saw early signs of success from its efforts to woo customers back to stores in January, the management said in a post-earnings conference call with analysts Wednesday. However, the company believes it will take more efforts to drive the traffic back to desired levels.

 

The company is now offering 14-carat gold jewellery at Tanishq, which was earlier available only at CaratLane and Mia by Tanishq. Titan has also begun offering 9-carat gold jewellery at Mia by Tanishq and CrataLane to keep jewellery accessible in an inflationary environment. 

 

Titan's Managing Director Ajoy Chawla said many customers were on the fence in the first two quarters of 2025-26 (Apr-Mar), waiting for gold prices to correct. However, as the festive season approached, followed by the wedding season, these customers jumped in to avoid missing out. "I feel that is continuing even now. It remains, now of course, with the volatility in gold price, maybe it might stabilise a bit or people may once again think, pause and wait. So, I think that's the larger consumer story." 

 

Arun Narayan, the chief executive officer of the company's jewellery division, warned that if gold prices continue to rise, the company's margins may see some stress, a part of which may be mitigated through operating leverage. "As long as we are able to deliver good revenue growth, we will get operating leverage and will be able to maintain EBIT (earnings before interest and tax) level or PBT (profit before tax) level margin profile," he added. 

 

The company is seeing greater traction at higher points in gold jewellery and there is pressure at lower price points on account of inflation in gold, the management said.

 

Addressing the debate on lower interest among the younger generation with respect to gold jewellery, the management said, "Looking at the performance of CaratLane and Mia in our portfolio, we are actually seeing youngsters stay with us and continue to be invested in jewellery, both as an investment as well as for adornment more." It added that Titan was seeing a good response to the company's new collections as well as campaigns.

 

Of Titan's 49 net new store additions in Oct-Dec, 47 were added in India – 24 in Caratlane, 11 in Mia, 10 in Tanishq, one in Zoya, and one in beYon. Tanishq also added two new stores in the US -- Boston and Orlando -- during the quarter.

 

For the December quarter, Titan's standalone net profit rose over 48% on year to INR 14.70 billion. Its standaone revenue from operations for the quarter rose nearly 40% on year to INR 225.22 billion. Revenue from the company's jewellery segment rose over 42% on year to INR 209.27 billion in the December quarter, accounting for more than 92% of the company's total standalone income for the quarter.

 

At 1204 IST, shares of Titan were at INR 4,254 apiece on the National Stock Exchange, down 0.4%.  End

 

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Edited by Avishek Dutta

 

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