Titan Company Delivers 21% Revenue Growth in Q1FY26

Titan Company Limited (‘Titan’), announced its first quarter Q1FY26 results today. Compared to Q1FY25,

Consolidated Total Income of Rs 14,966 crores grew 21% sustaining healthy growth momentum. The Profit after Tax of Rs 1,091 crores at 7.3% margin expanded 53% over same period last year

Jewellery portfolio grew 19% to Rs 12,797 crores (excl. bullion and digi-gold sales) demonstrating resilience despite an elevated gold price environment and challenging market conditions

Watches division delivered an exceptional groMh of 24% achieving Rs 1,273 crores, marking one of its best-ever quarters

Nebula by Titan unveiled JALSA‘, a rare tourbillion timepiece, crafted to honour 225 years of the iconic Hawa Mahal at Jaipur showcasing Titan’s boldest foray yet inro global Houte Horlogerie

Tanishq elevated its global brand presence through its participation at Paris Couture Week and in Cannes 2025
Tanishq was recognized for sustainable leadership at Las Vegas, USA and bestowed with the prestigious “Diamonds Do Good” award for “Purpose Driven Business Leadership”
Titan launched its first comprehensive ESG initiative, ‘PRAGATI – the future we embrace’, reinforcing Company‘s commitment to responsible and inclusive growth for all of its stakeholders

Business Performance:

Jewellery: Total Income for the quarter grew 19% over Q1FY25 to Rs 12,797 crores (excl. bullion and digi-gold sales). The India business of Tanishq, Mia and Zoya (together) grew 18% to Rs 11,217 crores and CaratLane clocked a strong 39% growth to Rs 1,026 crores in the same period. The International jewellery business grew 49% over Q1FY25 to Rs 554 crores demonstrating strong growth momentum. The Jewellery portfolio (together) recorded an EBIT at Rs 1,408 crores for the quarter at a margin of 11.0%.

High gold prices and challenging market conditions saw customers gravitate toward gold purchases driving better growths in gold jewellery and coins, vis-a-vis studded. Ticket size improvement largely offset the impact of elevated gold prices on customer traffic in the quarter. CaratLane’s targeted gold coin promotion saw excellent consumer response driving healthy customer acquisition. The International Jewellery business clocked healthy double-digit growths in both UAE and North America regions achieving its first ever profitability.

Watches:

Business had an exceptional quarter recording a growth of 24% over Q1FY25 achieving a Total Income of Rs 1,273 crores EBIT came in at Rs 287 crores clocking 22.6% margin for Q1FY26.

Analog watches powered the groMh expanding 28% over Q1FY25 driven by both volume uptake and pricing actions. The smartwatches segment focused on profitability optimization. The key brands of Titan, Sonata and Fastrack, grew in healthy double-digits during the quarter. The International brands, through the Helios channel, expanded 21% compared to Q1FY25, reflecting consumer preferences for premium timepieces. The strong momentum translated into significant operating leverage benefits and margin expansion for the business. The Division added 9 new stores (net) consisting of 4 stores in Titan World and 5 in Helios respectively.

EyeCare:

The Total Income of Rs 238 crores in Q1FY26 grew 13% over Q1FY25. Business recorded an EBIT of Rs 20 crores clocking a margin of 8.4% for the quarter. Driven by seasonal trends during the quarter, sunglasses growth significantly outpaced prescription products (lenses and frames). The Division added a new store in Sharjah, UAE during the quarter. In India, network optimization continued with 20 store closures (net).

Emerging Businesses:

The Emerging Businesses comprising of Indian Dress Wear (‘Taneira’), Fragrances, Fashion Accessories (Women’s Bags) (‘F&FA’) recorded a Total Income of Rs 108 crores growing 35% over Q1FY25. Operational efficiencies helped reduce (the combined) losses to Rs 14 crores from Rs 26 crores in Q1FY25.

Women’s Bags momentum picked up well with a robust 65% growth over Q1FY25, reflecting brand buiJding initiatives. Fragrances grew an impressive 56% in the same period, driven by strong volume expansion across SKINN and Fastrack perfumes. Taneira achieved 16% growth over Q1FY25, all of it driven entirely by same-store performance. The volume growth was in early double-digits reflecting brand’s penetration in the expanding Indian ethnic wear segment. IRTH brand opened 1 new store in Mumbai in the quarter.

Titan Engineering & Automation Limited:

The Business recorded a Total Income of Rs 307 crores in Q1FY26, a growth of 56% compared to Q1FY25. EBIT for the quarter was Rs 75 crores at a margin of 24.4%.

The Automation Solutions (AS) Revenue grew 82% and the Manufacturing Services (MS) Revenue grew 16% in this period. The AS business received orders of Rs 357 crores during the quarter with a Jun’25 order book exceeding Rs 550 crores. In MS business, the aerospace segment recorded healthy double digit growth rates.

Commenting on the quarterly performance:

Mr. C K Venkataraman, Managing Director of the Company stated that:

“Q1 FY26 has been an encouraging start to the fiscal year with 21 % consolidated revenue growth, demonstrating the strength of our diversified business model. Our jewellery business continues to show remarkable resilience despite headwinds from elevated gold prices. Consumer confidence in gold as both adornment and store of value remains intact, supporting our market leadership position. Watches delivered one of its best-ever quarters, achieving exceptional performance in both revenue growth and margins. This validates our premiumization strategy and the strong consumer connect our brands have established. EyeCare has been clocking three quarters of double-digit growth, and we are confident of accelerating this momentum in the coming quarters as we expand our reach and enhance our product offerings. Our Emerging brands of SKINN, IRTH and Taneira have made substantial progress in optimizing their business mix and are well-positioned to capture greater market share. Our international operations continue to deliver strong growth, opening new avenues for expansion. We remain optimistic about our growth trajectory and our ability to create long-term value across all business segments”.

About Titan:

Titan Company Limited (“Titan”), a joint venture between the Tata Group and the Tamil Nadu Industrial Development Corporation (TIDCO), commenced its operations in 1987 under the name Titan Watches Limited. In 1994, Titan diversified into Jewellery (Tanishq) and subsequently into EyeCare. Over the last three decades, Titan has expanded into underpenetrated markets and created lifestyle brands across different product categories including fragrances (SKINN), accessories and Indian dress wear (Taneira) and thoughtfully designed Women Bags (IRTH). Titan is widely known for transforming the watch and jewellery industry in India and for shaping India’s retail market by pioneering experiential retail.

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