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Informist, Friday, Aug. 7, 2026

 

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--Titan Apr-Jun net profit INR 16.99 bln 
--Analysts saw Titan Apr-Jun net profit at INR 12.91 bln 
--Titan Apr-Jun revenue INR 181.01 bln 
--Analysts saw Titan Apr-Jun revenue at INR 206.48 bln 
--Titan Apr-Jun net profit INR 16.99 bln vs INR 10.30 bln year ago 
--Titan Apr-Jun revenue INR 181.01 bln vs INR 145.64 bln year ago

 

By Avishek Rakshit

 

KOLKATA – Strong consumer demand arising from festival and Akshaya Tritiya sales across its core portfolio of jewellery, watches, and eyecare products in the June quarter helped Titan Co. Ltd. to report its highest profit growth since the September quarter of the financial year 2022-23 (Apr-Mar) and beat the Street's profit projections for the company by a wide margin. The revenue, however, missed the Street's estimates. 

 

Titan reported a 65% year-on-year jump in net profit for the June quarter to nearly INR 17 billion. The Street's estimate was around INR 13 billion. The revenues rose over 24% on year to INR 181 billion. The Street had expected Titan to report sales of more than INR 206 billion. Adjusting for the impact of customs duty increase in gold prices for the quarter, Titan's profit before tax grew 37% on year, the company said in a statement.

 

The company's jewellery portolio, which usually accounts for around 80% of its total annual revenues, grew 43% on year to nearly INR 183 billion, excluding bullion and digi-gold sales. Although gold prices remained stable at higher levels, consumer demand improved, powered by healthy festival and Akshaya Tritiya demand. The company's gold exchange programme helped Titan further increase jewellery sales with a sizeable increase in average ticket size of gold purchases.

 

In India, sales from the jewellery business rose 38% on year to over INR 169 billion, with its Tanishq, Mia, and Zoya brands of jewellery growing 38% on year to over INR 155 billion. The Caratlane brand recorded 40% on-year growth to reach a top line of INR 14.41 billion.

 

Jewellery sales in its international markets grew a whopping 136% on year to INR 13 billion. Sales of the Tanishq, Mia, and Caratlane brands in global markets grew 65% on year to over INR 9 billion, and the Damas brand of jewellery, which Titan acquired in West Asia, reported revenues of nearly INR 4 billion.

 

Titan's earnings before interest and tax from total jewellery sales was around INR 24 billion in the June quarter with an EBIT margin of 12.9%. In India, its EBIT was around INR 24 billion with an EBIT margin of 14%. However, despite extrmemely high sales growth in its international jewellery business, Titan suffered a total loss of INR 80 million from its global jewellery sales and the Damas brand of jewellery business recorded a loss of INR 670 million. 

 

While the Tanishq, Mia, and Zoya brands taken together reported 14.2?IT margin in the Indian market, the margin from the Tanishq, Mia, and Caratlane business operations was considerably lower at 6.5% only.

 

In the June quarter, Titan net added 33 stores in India, comprising four Tanishq stores, 17 Mia stores, one beYon store, and 11 Caratlane stores. The Tanishq brand of business opened two new stores in the Gulf region while the Damas brand closed one store. 

 

"Q1FY27 was a strong opening quarter for us, with our consumer businesses registering 40% YoY growth. Through innovation and design-led differentiation, our portfolio of brands across jewellery, watches, eye care and emerging businesses continue to deliver exceptional value to customers seeking premium offerings," Titan's Managing Director Ajoy Chawla said in the statement.

 

WATCHES, EYECARE 

Led by continuing premiumisation trends and enduring consumer preference for analog timepieces, the watches portfolio grew 21% on year to over INR 15 billion in the June quarter. Analog watches remained the core growth engine for the company's watches division, clocking growth in the mid-twenties on-year, driven by healthy contributions from both volume uptake and average selling price expansion.

 

However, sales of smart watches declined in single digit on year in the June quarter, reflecting an ongoing category recalibration as the division continues to focus on sustainable unit economics over volume growth.

 

In an investor presentation submitted to the bourses, Titan said its watches business had a one-time gain resulting from inventory revaluation that had a positive EBIT margin impact. Adjusting for this, the EBIT for the business in the June quarter was around INR 3 billion with an EBIT margin of 17.8%. In the June quarter, the watches division net added 34 new stores of which nine each were for Titan World and Fastrack brands, 14 for Helios, and two for the Helios Luxe brand. 

 

The company's eyecare business clocked robust 21% on-year growth to nearly INR 3 billion, marking a strong start to the year, driven by healthy demand across its product portfolio and an ongoing shift towards premium offerings. The top-line growth in the eyecare business was supported by calibrated marketing investments driving multi-pair and multi-category consumer propositions which led to an increase in sales volume as well as revenue. Lenses led the portfolio top-line growth while sunglasses and frames also contributed steadily to the overall growth, according to the company's press release.

 

The eyecare division recorded an EBIT of INR 240 million with EBIT margin of 8.3% in the June quarter. Of the seven net store additions in the eyecare segment in the quarter, six were in the Titan Eye+ brand category and one in the Runway brand category.

 

Friday, shares of Titan Co. closed at INR 4,941.00 on the National Stock Exchange, down 1.1% from Thursday. The company declared its June quarter results after trading hours.  End

 

Edited by Rajeev Pai

 

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