Titan Q2 FY27 Results: Total Income Grows 25% To ₹20,533 Crore As Jewellery, Watches, And EyeCare Businesses Expand

Titan Company Limited reported a 25% year-on-year (YoY)increase in consolidated total income to ₹20,533 crore in Q2 FY27. The growth figure excludes bullion and digital-gold sales and the non-operational fair-value gain recorded during the quarter.

Profit after tax (PAT), excluding the non-operational fair-value gain, increased 54% to ₹1,722 crore. The company reported broad-based growth across jewellery, watches and EyeCare, while its management highlighted sustained consumer demand ahead of the festive season.

The Titan share price closed at ₹4,834.60 on 5 November, up 1.69% on the National Stock Exchange (NSE).

Titan Q2 Results: Financial Highlights

Titan's consolidated profit before tax (PBT) increased 53% to ₹2,329 crore, with a margin of 11.3%. However, this figure includes a ₹536 crore benefit related to the increase in customs duty on gold. Excluding this benefit, PBT stood at ₹1,793 crore, up 18%, with a margin of 8.7%.

The statutory consolidated financial statements also include a ₹671 crore non-operational gain arising from the remeasurement of the put option liability relating to the minority interest in Damas. This gain was recognised under fair-value changes in the profit and loss statement. Consequently, the statutory consolidated profit for the quarter is higher than the adjusted PAT highlighted in the company's business-performance presentation.

For H1 FY27, consolidated total income, on the presentation's comparable basis, increased 32% to ₹41,286 crore. PBT grew 58% to ₹4,758 crore, while PAT increased 58% to ₹3,499 crore. These figures include the relevant customs duty gains and exclude the non-operational fair-value credit.

How Did Titan's Jewellery Business Perform?

Jewellery remained Titan's largest business and grew 24% during the quarter to ₹17,495 crore, excluding bullion and digital-gold sales. Growth was supported by strong demand for studded jewellery, design-led collections and brand-level promotional campaigns.

The India jewellery business grew 21% to ₹16,343 crore. Tanishq, Mia and Zaya together recorded 20% growth, while CaratLane reported a 31% increase in revenue.

The international jewellery business grew 105% to ₹1,152 crore. Tanishq, Mia and CaratLane together recorded 41% growth in their international operations. Damas, which became part of Titan's consolidated business following its acquisition, reported core revenue of ₹364 crore.

The jewellery business reported earnings before interest and tax (EBIT) of ₹2,300 crore, at a margin of 13.1%. This included the customs duty-related gain. Excluding that benefit, the India jewellery business recorded EBIT of ₹1,745 crore at a margin of 10.7%.

How Did The Other Segments Perform?

The watches business recorded 27% growth in total income to ₹1,881 crore. The division reported EBIT of ₹412 crore, with a margin of 21.9%. It added 34 net stores in India during the quarter.

EyeCare reported 28% growth in total income to ₹281 crore. The business recorded EBIT of ₹23 crore at an 8.2% margin. Titan attributed the performance to its multi-brand approach, upgraded store network and improved product assortment.

Titan's emerging businesses, including SKINN fragrances, IRTH women's bags and Taneira Indian dress wear, recorded combined income growth of 21% to ₹171 crore. However, the businesses reported a combined loss of ₹6 crore.

Titan Engineering and Automation Limited (TEAL) recorded 53% growth in quarterly income to ₹36 crore.

What Did Management Say?

Ajoy Chawla, Managing Director of Titan Company, described Q2 FY27 as a period of healthy, broad-based growth across the company's businesses. He said consumer demand remained resilient despite a strong base in the previous year and a shift in the festive calendar towards Q3 FY27.

He also said Titan would continue investing in its brands, customer engagement and business capabilities to support long-term growth.

Source

Company Press Release

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