With gold prices correcting from its high and festive pickup in sales, ICICI Securities expects Titan's EBIDTA margins to sequentially improve in Q3 with better margins in its core jewellery business.
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Leading jewellery and watchmaker Titan on Monday reported an increase of 59 per cent in consolidated net profit at Rs 1,120 crore for the September quarter of FY26. The company posted a net profit of Rs 704 crore in the July-September quarter a year ago, according to a regulatory filing from Titan. Its sales were up 22.17 per cent to Rs 16,461 crore in the September quarter of FY26. It was Rs 13,473 crore for the corresponding quarter. Total expenses of Titan increased 26.3 per cent to Rs 17,316 crore in the September quarter. Titan's total income, which includes other income, was at Rs 18,837 crore, up 28.5 per cent during the September quarter. During the quarter, Titan's jewellery business increased 29.3 per cent to Rs 16,522 crore. In the jewellery business, Titan's domestic business, which includes Tanishq, Mia and Zoya, grew 18 per cent to Rs 12,460 crore. CaratLane's domestic business posted 32 per cent growth, reaching Rs 1,072 crore, over Q2, FY25, respectively. Its tar
The US accounts for 37 per cent of India's total exports of precious stones and 28 per cent shipments of gold jewellery
Shares of gold-loan providers Muthoot Finance and Manappuram Finance trade at key supports on the charts; face over 11% downside risk. Also check outlook on Titan and other jewellery-related stocks.
Titan share price outlook: The pent-up demand from the upcoming wedding season is expected to offset the short-term moderation once the gold prices stabilise.
Globally, gold consumption continues to be driven by Jewellery, investment flows, central bank diversification, and growing industrial use in AI chips and electronics
Thus far in the calendar year 2025, Bharti Airtel has soared 27% and Titan Company 14%, as compared to a 6.7% rise in the BSE Sensex.
Nomura has maintained its Nifty target for March 2026 at 26,140, implying a modest upside of 4 per cent from current levels, based on a FY27F earnings per share (EPS) estimate of ₹1,245.
P N Gadgil Jewellers too put up a strong show, with its retail segment growing 29 per cent in Q2 FY26. This was driven by healthy store-level performance and festive season sales
Titan's consumer businesses grew about 20 per cent Y-o-Y in the September quarter, adding 55 stores to reach 3,377
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Ajoy Chawla said that he hopes buyer growth will be better this festive season, coupled with the wedding season that follows
The jewellery business, which contributes close to 90% of overall revenue, grew 19% year-on-year, the Bengaluru-based company said in its business update for the quarter ended September 30
In the year-to-date (Y-T-D) period, the Nifty FMCG index has lost 3 per cent, as compared to a rise of around 4 per cent in the Nifty 50, Bloomberg data shows
Technical charts suggest that shares of gold loan firms, which have surged over 50% so far in 2025, could rally another 17% from here; while a likely mixed outlook for jewellery makers and sellers.
Analysts at Nomura have initiated coverage of Titan with a 'Buy' rating and a target price of ₹4,275, highlighting the company's strong positioning relative to peers on a risk-weighted basis.
Titan Company brand expects bridal lehengas and more wedding dates this year to help its growth plans
ICRA expects Titan's revenue growth and cash accruals to remain healthy, driven by accelerated formalisation of the jewellery retail industry.
Markets edged higher and gained over half a percent, supported by optimism surrounding the GST Council meeting.