Titan gains 3% on strong Q3 results; market cap nears ₹ 4 trillion

In the past four trading days, the stock price Titan Company engaged in gems, jewellery and watches business has rallied 7 per cent.

Titan Company share price today

 

Shares of Titan Company hit a new high of ₹4,379.95; gaining 3 per cent on the BSE in Wednesday’s intra-day trade in an otherwise subdued market after the company reported strong earnings for the third quarter of the financial year 2025-26 (Q3FY26).

 

In the past four trading days, the stock price of the company engaged in the gems, jewellery and watches business has rallied 7 per cent. Further, in the past six months, the stock rallied 25 per cent, as against a 4.5 per cent rise in the BSE Sensex.

 

At 10:05 AM; Titan was quoting 1.4 per cent higher at ₹4,326.35 on the BSE. In comparison, the BSE Sensex was down 0.13 per cent at 84,162. 

 

 

Titan’s market capitalisation nears ₹4 trillion

 

A sharp rally in the stock price of Titan has seen its market capitalisation (market cap) inch towards ₹4 trillion. The company’s market cap hit ₹3.89 trillion during intra-day trade today, the BSE data shows. Currently, there 17 companies have a market cap of over ₹4 trillion.

 

Meanwhile, Titan today surpassed the cement major UltraTech Cement (₹3.81 trillion) in market cap ranking, data shows.

 

ICICI Securities view on Titan post Q3 results

 

Titan said the company marked a stellar third quarter of 40 per cent growth characterized by a strong performance across its key businesses. The festive period spurred broad - based consumer interest across the company’s portfolios.

 

The jewellery business drove strong buyer engagements via attractive exchange programs, exquisite new collections and lucrative bundled offers resulting in one of its best-ever growth quarters, the management said.

 

In Q3FY26, Titan consolidated revenue grew by 42 per cent year-on-year (YoY) to ₹24,915 crore, driven by 40.4 per cent YoY growth in the domestic jewellery (excluding bullion) and 42.2 per cent YoY growth in the Caratlane business. 

 

The strong growth in the domestic jewellery business was on the back of substantial jump in the gold prices; new buyer share was 45 per cent. Plain gold jewellery grew by 37 per cent YoY due to strong wedding demand while studded jewellery grew by 26 per cent (studded contribution was 26 per cent).

 

“Overall earnings before interest, taxes, depreciation and amortisation (EBIDTA) margins stood flat on YoY basis at 10.7 per cent; the same was much better than our expectation of 10.1 per cent and street expectation of 10.4 per cent”, ICICI Securities said in a note. 

 

EBIDTA grew by 41 per cent YoY to ₹2,713 crore. Adjusted profit after tax and before exceptional items grew by 45 per cent YoY to ₹1,798 crore, ahead of our expectation of ₹1,586 crore.

 

Overall Titan registered yet another quarter of stellar performance in the backdrop of inflated gold prices. The key highlight of the quarter was resilient margin performance by the jewellery business. The management outlook on demand in the jewellery business and on the overall margins is key for any changes in the estimates; the brokerage firm said as it maintained an 'ADD' rating on the stock with an unchanged target price of ₹4,500.  ==================================  Disclaimer: View and outlook shared on the stock belong to the respective brokerages and are not endorsed by Business Standard. Readers discretion is advised.