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Informist, Friday, Jul. 3, 2026

 

 

KOLKATA – Titan Co. Ltd.'s growth is expected to face a near-term headwind from the ongoing war in West Asia, which disrupted global logistics and supply chains besides causing a spike in crude prices and the resulting global macro-economic volatility. However, the company is optimist about growth in its long-term business.

 

"In the near term, there are some headwinds due to the Middle East (West Asia) War. Nevertheless, the longer-term opportunities significantly outweigh the risks, and our approach is to continue to prioritise growth, build scale across categories, while innovating across the value chain," Ajoy Chawla, the company's managing director, said in its annual report for 2025-26 (Apr-Mar).

 

In the annual report, Chawla said the US tariffs on India, which peaked in August 2025, added uncertainty to the global trade environment. Geopolitical crisis led to volatility in gold prices, in turn creating significant uncertainty among jewellery consumers.

 

"Despite this, all categories grew handsomely during the year, even though jewellery and eye care had fluctuating growths across quarters with a stronger second half," he said. 

 

While eyeing growth to come in more from premium product sales, Titan said it remains focussed on innovation led topline growth, market share expansion, and strengthening the portfolio of aspirational brands to cater to the evolving premiumising needs of the consumers.

 

Titan said that gold prices are expected to remain elevated and volatile, given ongoing geopolitical developments and global conflicts leading to macroeconomic uncertainties. 

 

"In this environment, there could be shifts in demand segments and the (jewellery) division will continue to prioritise market share led topline growth supported by sustained investments in retail expansion, product innovation, customer engagement, new collections, manufacturing excellence and brand building," the company said in the annual report. 

 

While Titan's outlook in India remains positive owing to favourable demographics and the continued relevance of jewellery as a store of value, short-term demand fluctuations may persist. The company expects the international markets to remain dynamic with cautious optimism in the US and watchfulness in West Asia in light of the prevailing geopolitical conditions.

 

However, for its watches business, Titan expects the current financial year to see a continued structural shift toward analog watches. The premium segment, priced above INR 25,000 is expected to remain robust, supported by the European Free Trade Association trade deal on Swiss watches, while the sub INR 25,000 price bracket is expected to deliver double-digit growth in the current financial year amid heightened competition from other players.

 

As mobile phone and laptop usage continue to gain momentum, thereby increasing the screen time and leading to eye problems, it can become a boon for Titan which is into eye care as well.

 

"Structural tailwinds such as increased screen time, growing eye health awareness, and premiumisation are expected to support demand," the company said in its annual report while discussing its views on demand for its eye care business in FY27.

 

Overall, while Titan remains rooted on the mass-friendly products and brands, the company is set to increase its focus on premium segment in the current financial year. Friday, shares of Titan closed 0.5% lower at INR 4,461.10 on the National Stock Exchange. End

 

Reported by Avishek Rakshit

Edited by Akul Nishant Akhoury

 

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