Titan Q1 FY 2026-27 Results: Net Profit Rises 63%, Jewellery Business Leads Growth

Titan Q1 FY 2026-27 Results: Consumer discretionary major Titan Company Ltd reported its financial results for the quarter ended June 30, 2026, on Friday, August 7.

Consolidated net profit rose 63% year-on-year to Rs 1,777 crore, compared with Rs 1,091 crore in the corresponding quarter last year. Total income for the reporting period rose 40% year-on-year to Rs 20,753 crore.

The company said profit before tax grew 37% on an adjusted basis after excluding the impact of customs duty gains in gold during the quarter. The reported consolidated numbers included customs duty gains of Rs 407 crore.

Jewellery Business Leads Growth

Titan's Jewellery business grew 43% year-on-year to Rs 18,253 crore in the quarter, excluding bullion and Digi-gold sales. The company said all portfolio brands grew well amid a relatively stable gold price environment, with demand supported by festive purchases, Akshaya Tritiya sales and the company's exchange programmes.

Double-digit growth in portfolio buyers, along with an increase in average ticket sizes, supported strong mid-thirties growth in the key plain and studded jewellery categories.

The India Jewellery business grew 38% to Rs 16,943 crore. Tanishq, Mia and Zoya together grew 38% to Rs 15,502 crore, while CaratLane grew 40% to Rs 1,441 crore.

The international Jewellery business grew 136% to Rs 1,309 crore. Tanishq, Mia and CaratLane together grew 65% to Rs 913 crore, while the core Damas business, which was acquired earlier, recorded revenue of Rs 396 crore.

Titan said the international Jewellery business scaled up, with Tanishq recording strong traction in North America and encouraging double-digit growth in the Gulf Cooperation Council region. The core Damas business saw a gradual recovery across key parameters.

The Jewellery business reported EBIT of Rs 2,360 crore at a 12.9% margin. The India business recorded EBIT of Rs 2,368 crore at a 14% margin. Adjusted for customs duty gains of Rs 407 crore, EBIT stood at Rs 1,961 crore at an 11.6% margin.

Within India, Tanishq, Mia and Zoya together reported EBIT of Rs 2,202 crore at a 14.2% margin. Adjusted for customs duty gains of Rs 386 crore, EBIT stood at Rs 1,816 crore at an 11.7% margin.

CaratLane reported EBIT of Rs 166 crore at an 11.5% margin. Adjusted for customs duty gains of Rs 21 crore, EBIT stood at Rs 145 crore at a 10.1% margin. The international Jewellery business recorded a loss of Rs 8 crore. Tanishq, Mia and CaratLane together reported EBIT of Rs 59 crore at a 6.5% margin, while Damas recorded a loss of Rs 67 crore.

The Jewellery division added 33 net stores in India during the quarter, comprising four Tanishq stores, 17 Mia stores, one beYon store and 11 CaratLane stores. Tanishq also opened two new stores in the GCC region, while Damas closed one net store during the quarter.

Watches Business

Titan's Watches business recorded total income of Rs 1,543 crore, up 21% year-on-year, led by premiumisation and demand for analog watches. Analog watches recorded mid-twenties growth and led overall growth for the division, while the Smart Watches business declined in single digits during the period.

The business reported EBIT of Rs 295 crore at a 19.1% margin. The Watches division added 34 net stores during the quarter, comprising nine Titan World stores, nine Fastrack stores, 14 Helios stores and two Helios Luxe stores.

EyeCare Business

Titan's EyeCare business recorded total income of Rs 289 crore, growing 21% year-on-year. EBIT stood at Rs 24 crore at an 8.3% margin.

The company said growth momentum was supported by calibrated marketing investments driving multi-pair and multi-category consumer propositions, along with continued premiumisation across the product portfolio. Titan Eye+ opened six new stores, while one new Runway store was added during the quarter.

Emerging Businesses

Titan's Emerging Businesses, comprising SKINN Fragrances, IRTH Women's Bags and Indian Dress Wear (Taneira), recorded combined total income growth of 18% to Rs 128 crore and reported a loss of around Rs 39 crore.

Fragrances maintained strong volume momentum across the SKINN and Fastrack perfume lines. IRTH Women's Bags recorded robust volume growth and continued to gain in brand salience, while Taneira's revenue remained flat during the quarter.

Titan Engineering and Automation grew 43% to Rs 438 crore and posted EBIT of Rs 143 crore.

Management Commentary

Ajoy Chawla, Managing Director of Titan, said Q1 FY27 was a strong opening quarter for the company, with its Consumer Businesses registering 40% year-on-year growth. He said through innovation and design-led differentiation, the company's portfolio of brands across Jewellery, Watches, EyeCare and Emerging businesses continued to deliver exceptional value to customers seeking premium offerings.

Chawla said the company's TEAL business was growing from strength to strength, raising the bar of excellence in the high-precision engineering sectors and delivering best-in-class value for customers.

"The broad-based performance notwithstanding, the quarter demanded significant agility on multiple fronts, from navigating gold prices to the sharp changes in the duty structure and to managing geopolitical headwinds across our international operations. We continue to remain focused on brand investment, customer engagement, and disciplined execution that has defined Titan's growth journey," Chawla said.

Titan Share Price

Shares of Titan Company Ltd ended at Rs 4,943.00, down Rs 41.00, or 0.82%, on the BSE.

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