Titan Q2 FY27 Results Preview: Revenue May Rise Up To 18.8% YoY As Investors Track Jewellery Sales And Margins

Titan Company is expected to report a 26.8%–27% year-on-year (YoY) rise in profit after tax (PAT) for Q2 FY27, with revenue growth estimates ranging from 12% to 18.8%. The Titan results date is 5 November 2026. Jewellery sales, Tanishq's like-to-like (LTL) growth and margins are among the key numbers investors will watch.

Revenue estimates range from ₹18,444.6 crore to ₹22,243.8 crore, against ₹16,534 crore and ₹18,725 crore reported in the corresponding quarter last year, respectively, in the two sets of projections. PAT estimates stand between ₹1,274.4 crore and ₹1,419.2 crore, compared with ₹1,006 crore and ₹1,119 crore in Q2 FY26.

Titan shares are trading at ₹4,661.30 at 12.41 PM IST on 4 November, up 2.18%. Titan’s share price today will remain in focus ahead of the results announcement.

What Are The Revenue And Profit Estimates For Titan In Q2 FY27?

The two sets of brokerage estimates point to higher operating earnings in the September quarter, with earnings before interest, taxes, depreciation, and amortisation (EBITDA) growth expected to outpace revenue growth.

EBITDA is estimated at ₹1,990.9 crore to ₹2,324.7 crore, against ₹1,620 crore to ₹1,875 crore in Q2 FY26. The projections imply YoY growth of 23%–24%.

Margin estimates also indicate an improvement. EBITDA margin is pegged at 10.5%–10.8%, compared with 9.8%–10% in the year-ago quarter. This represents an expected expansion of 50–100 basis points (bps).

For FY27, one set of estimates projects revenue at ₹1,05,627.3 crore, up 20.6% from ₹87,584 crore in FY26. EBITDA is projected to rise 25.4% to ₹10,478.1 crore from ₹8,355 crore, with the margin expected to increase to 9.9% from 9.5%.

How Are Jewellery And CaratLane Expected To Perform?

Jewellery is likely to remain a major contributor to Titan's September-quarter revenue. Estimates point to 27%–28% YoY growth in the segment. Standalone jewellery revenue, excluding bullion, is projected to increase 28%, while Tanishq's LTL growth is estimated at 23%.

The segment's EBIT margin, excluding bullion, is estimated at 10.7%–10.9%. One projection expects the standalone jewellery margin, excluding bullion and inventory gains following the customs duty increase, to remain flat year on year at 10.9%.

CaratLane revenue is expected to grow 28% YoY. Its EBIT margin, however, is projected to decline by 20 bps to 10%. The revenue and margin figures will offer a closer look at the brand's operating performance.

What Other Business Segments And Factors Will Be In Focus?

Watches, eyewear and other businesses are expected to report double-digit growth, according to the estimates. Their contribution will be another factor to watch alongside jewellery and CaratLane.

Management commentary on jewellery demand, Tanishq's LTL growth and segment margins will also be closely tracked.

For the full year, adjusted PAT is estimated at ₹6,483.2 crore, up 25.9% from ₹5,151.3 crore in FY26. Reported PAT is projected at ₹6,788.5 crore against ₹5,075.5 crore in the previous financial year.

The estimates also account for extraordinary income of ₹114 crore in Q3 FY26 and an extraordinary loss of ₹305.3 crore in Q1 FY27. No extraordinary income or expense has been factored into the Q2 FY27 projections.

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