Titan Q1 net profit rises 52.6% on strong jewellery, margin gains

Titan posts Rs 1,091 crore net profit in Q1FY26 as jewellery, watches and international units boost revenue and margins; CaratLane and Taneira record sharp growth

Titan Company’s net profit has risen 52.6 per cent to ₹1,091 crore on the back of strong sales and margin expansion in the first quarter of 2025-26 (Q1FY26). Its revenue from operations grew 24.6 per cent to ₹16,523 crore in the quarter over last year. Sequentially its net profit was up 25.3 per cent while revenue rose 10.8 per cent.

 

The jewellery major’s profit before interest, depreciation, and tax (PBIDT) was up 41.6 per cent year-on-year (Y-o-Y) to ₹1,935 crore in Q1FY26 and its PBIDT margins expanded by 141 basis points (bps) to 11.7 per cent.

 

The owner of Tanishq, Mia and Zoya saw its income from the jewellery business grow 19 per cent to ₹12,797 crore (excluding bullion and digital gold sales) on a standalone basis compared to Q1FY25.

 

Also, its India business grew 18 per cent in the same period to ₹11,217 crore and CaratLane reported a 39 per cent growth. The International jewellery business grew 49 per cent over Q1FY25 to ₹554 crore. Titan Company, a part of the Tata group, had acquired a controlling stake in CaratLane in 2016.

 

“High gold prices and challenging market conditions saw customers gravitate toward gold purchases, driving better growth 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… The international jewellery business clocked healthy double-digit growth in both UAE and North America regions, achieving its first-ever profitability,” Titan said in its results release.

 

The watches and wearables business saw its total income at ₹1,273 crore, up 24 per cent over Q1FY25, and the company said that the business had an exceptional quarter.

 

The eyecare division recorded a total income growth of 13 per cent to ₹238 crore in Q1FY26 compared to the corresponding quarter last year, while its emerging businesses — comprising Indian dress wear (Taneira), and fragrances & fashion accessories (F&FA) — reported a total income of ₹108 crores for the quarter, growing 35 per cent over Q1FY25.

 

"Q1FY26 has been an encouraging start to the financial year with 21 per cent 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,” C K Venkataraman, managing director (MD) of Titan, said in its earnings release.

 

He added that the watches business delivered one of its best-ever quarters, achieving exceptional performance in both revenue and margins. This validated the company’s premiumisation strategy and the strong consumer connect that its brands have established, Venkataraman said.

 

“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 SKINN, IRTH and Taneira have made substantial progress in optimising their business mix and are well-positioned to capture greater market share,” he added.

 

Venkataraman also said that the company’s 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,” he added.