Titan Company reports Q1 performance with 18% growth in Jewellery segment

Titan Company reported a decent performance in Q1 FY26, with its domestic jewellery business growing 18% year-on-year despite challenges from gold price volatility.

According to the companys exchange filing, the Akshaya Tritiya festival period witnessed healthy traction, a significant increase in gold prices from May to mid-June led to a softening in customer purchases. Buyer growth remained flat YoY for both Tanishq (TMZ) and CaratLane.

In response to elevated gold prices, consumers showed a clear preference for lightweight and lower karatage jewellery. The studded jewellery segment saw a lower contribution compared to last year, largely due to differential growth across segments. Coins remained a strong performer, plain gold jewellery grew in the mid-teens, and the studded segment posted early double-digit growth.

Like-to-like (L2L) domestic sales growth in Tanishq came in at early double digits, driven entirely by an increase in ticket sizes across formats. CaratLane also reported healthy double-digit L2L growth during the quarter. The company added a net of 19 jewellery stores in India, including 3 Tanishq, 7 Mia, and 9 CaratLane outlets.

In the watches and wearables segment, Titan posted a robust 23% YoY growth, led by analog watches, which benefited from both volume and value expansion. Sonata led the category with strong traction from refreshed product offerings, followed by Titan, Fastrack, and international brands, all of which recorded healthy double-digit growth. The watches division added a net of 9 new stores during the quarter, comprising 4 Titan World stores and 5 Helios outlets.

The EyeCare business posted 12% YoY growth, supported by a balanced performance across retail and e-commerce channels. Both in-house and international brands contributed to the growth. Titan Eye+ opened 12 new outlets during the quarter but closed 32, resulting in a net reduction of 20 stores.

Titan's emerging businesses continued to perform strongly. The fragrances segment grew by approximately 56% YoY, led by volume growth in SKINN and Fastrack. The womens bags category posted a 61% YoY increase, while the Taneira brand grew by around 15% YoY, driven by higher value sales in sarees.

The international business delivered impressive growth of 49% YoY, driven primarily by a near doubling of Tanishq's revenue in the U.S. market. The company added one new international store during the quarteropening a Tanishq store in Dubai and a Titan Eye+ store in Sharjah, while closing one Mia outlet in the region.

Titan Company is a joint venture between the Tata Group and the Tamilnadu Industrial Development Corporation (TIDCO). The company diversified into Jewellery (Tanishq) and subsequently into EyeCare segment.

The companys consolidated net profit jumped 12.97% to Rs 871 crore in Q4 FY25 as compared with Rs 771 crore in Q4 FY24. Revenue from operations increased 23.76% year-on-year to Rs 13,897 crore in Q4 FY25.

The scrip fell 5.60% to Rs 3,461.35 on the BSE.

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