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Informist, Friday, May 8, 2026

 

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--Titan Co Jan-Mar net profit INR 11.24 bln 
--Analysts saw Titan Co Jan-Mar net profit at INR 13.76 bln 
--Titan Co Jan-Mar net profit INR 11.24 bln vs INR 8.70 bln year ago 
--Titan Co Jan-Mar revenue INR 239.34 bln 
--Analysts saw Titan Co Jan-Mar revenue at INR 209 bln 
--Titan Co Jan-Mar revenue INR 239.34 bln vs INR 134.77 bln year ago 
--Titan Co to pay INR 15 per share dividend 
--Titan Co FY26 net profit INR 46.30 bln vs INR 33.35 bln year ago 
--Titan Co FY26 revenue INR 775.54 bln vs INR 548.42 bln year ago 
--Titan Co Jan-Mar consol EBIT INR 18.75 bln vs INR 14.70 bln year ago 
--Titan Co Jan-Mar jewellery revenue INR 224.37 bln vs INR 120.96 bln yr ago 
--Titan Co Jan-Mar watches revenue INR 12.14 bln vs INR 11.26 bln yr ago 
--Titan Co Jan-Mar eyecare revenue INR 2.24 bln vs INR 1.92 bln yr ago 
--Titan Co Q4 India jewellery ops EBIT INR 19.02 bln, EBIT margin at 11.1% 
--Titan Co Jan-Mar consol EBIT margin 9.2% vs 10.6% year ago 
--Titan Co: Gold, studded pdt portfolios grew 35?ch in Jan-Mar 
--Titan Co: Consumer confidence in gold is intact despite high prices 
--Titan Co shares recover; up over 2% now vs down 1.5?rlier
--Titan Co: Analog watches grew in double digit Q4 on higher volume, price 
--Titan Co: Smart watches revenue down 50% YoY Q4, but realisations improved 
--Titan Co Q4 India jewellery EBIT INR 19.02 bln vs INR 13.51 bln year ago 
--Titan Co Jan-Mar India jewellery EBIT margin 11.1% vs 11.5% year ago 
--Titan Co Q4 India watches, wearables EBIT INR 1.49 bln vs INR 1.32 bln YoY 
--Titan Co Q4 India watches, wearables EBIT margin 12.7% vs 12.1% yr ago
--Titan Co: Net added 22 jewellery stores in India during Jan-Mar 
--Titan Co: CaratLane revenue at INR 10.66 bln, up 22.4% on year 
--Titan Co: CaratLane net added 5 stores in India during Jan-Mar 
--Titan Co: Coins weightage continues to rise, affecting overall mix in Q4 
--Titan Co: Q4 jewellery EBIT margin hit due to higher share of coin sales 
--Titan Co: Converting Damas stores into select Tanishq stores 
--Titan Co: 4 Damas stores changed to Tanishq became operational in Q4 

 

By Avishek Rakshit, Anand JC, and Shakshi Jain

 

KOLKATA/MUMBAI/NEW DELHI – Strong growth in Titan Co. Ltd.'s jewellery portfolio, which typically accounts for over 90% of its revenue, led the watch maker to report a 15-quarter high on-year growth in revenue for the March quarter. However, its on-year net profit growth was the lowest in last four quarters. 

 

Titan reported a sharp 78% on-year growth in its revenue from operations to over INR 239 billion and its net profit increased over 29% on year to over INR 11 billion. The Street expected Titan to report a revenue of INR 209 billion and a net profit of around INR 14 billion. 

 

The consolidated jewellery business continued its strong momentum from the December quarter and recorded a 50% on-year growth in the March quarter to INR 182 billion, Titan said in a statement. New collections and continued strength of Titan's exchange programmes powered a robust 35% growth in each of gold and studded product portfolios. Segment revenue for the jewellery business, including other income, was INR 224.37 billion, up over 85% from a year ago.

 

Consumer confidence in gold, both as an adornment and an asset, remained intact despite record high prices and volatility in the quarter, Titan said, adding that this confidence translated into healthy buyer engagement.

 

In the jewellery business, domestic sales rose 46% on year to INR 171 billion with the Tanishq, Mia and Zoya brands together growing 48% on year to INR 160 billion. The CaratLane brand grew 22% on year to INR 10.7 billion in the March quarter. International sales increased 174% on year to nearly INR 11 billion. 

 

Titan sold gold ingots aggregating INR 61 billion for the quarter and around INR 100 billion for the year ended March.

 

The company reported an earnings before interest, tax, depreciation, and amortisation of INR 18.68 billion for the March quarter, up 20% on year. Margin fell to 10.4% from 12.2% in the year-ago quarter. Its consolidated EBIT for the quarter under review grew 28% on year to INR 18.75 billion, while its consolidated EBIT margin moderated 135 basis points on year to 9.2%. 

 

SEGMENTAL

Titan's consolidated total income from the domestic jewellery business in the March quarter was INR 171.14 billion, up 46% on year. The EBIT of this segment grew 41% on year to INR 19.02 billion, while EBIT margin moderated to 11.1% from 11.5% a year ago. 

 

Revenue from Titan's watches business was INR 12.14 billion for the quarter under review, up almost 8% on year. Domestic revenue from this business also grew 8% on year. The EBIT of this segment grew almost 8% on year to INR 1.43 billion, while margin held steady at 11.7%.

 

Titan's eyecare business reported a revenue of INR 2.24 billion, up nearly 17% on year. The eyecare segment's EBIT improved 14% on year to INR 210 million even as the margin moderated 41 bps to 9.2%. 

 

Total income of its emerging business--comprising operations in women's bags, fragrances, and ethnic apparel brand Taneira--grew 20% on year to INR 1.23 billion. The business reported a loss of INR 500 million for the reporting quarter.  

 

Titan net added 5 CaratLane stores in the March quarter. It net added 22 jewellery stores across India during the three-month period. Following the acquisition of a 67% stake in Damas Jewellery, the company is leveraging its store network for conversion to select Tanishq stores as part of a planned transformation, under which four stores became operational in the March quarter.

 

The company said sales of coins grew for a second consecutive quarter with the value nearly tripling year-on-year in Jan-Mar. "Their weightage continues to increase, thereby adversely impacting the studded ratio and overall mix, for the quarter," it added.

 

For the full year, Titan reported a standalone net profit of INR 46.30 billion, up almost 39% on year. Its revenue from operations grew over 41% on year to INR 775.54 billion. 

 

The company's board recommended a dividend of INR 15 per share. Friday, shares of the company ended at INR 4,509 on the National Stock Exchange, up 4.7% from the previous close.  End

 

Edited by Tanima Banerjee

 

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