Titan Company Q3 net profit soars 61% YoY to ₹1,684 crore; jewellery business surges 42%

In the corresponding period of the previous fiscal year, it had logged a profit of ₹1,047 crore, the firm said in a regulatory filing.

The country's largest watch and jewellery retailer clocked a total income of ₹25,567 crore during the quarter under review, marking a 43.09% YoY jump from ₹17,868 crore in the third quarter of the 2024-25 fiscal year (Q3FY25).

At an operational level, its EBIT (earnings before interest and tax) advanced 63% YoY to ₹2,657 crore in Q3FY26, compared to ₹1,627 crore in the year-ago period.

Its EBIT margin expanded by 155 basis points (bps) YoY to 10.8% for the reporting quarter, as against 9.3% in the December quarter of FY25.

Segment-wise highlights

Its domestic jewellery vertical, comprising Tanishq, Mia and Zoya, advanced 40% YoY to ₹19,921 crore for the reporting quarter, while Caratlane recorded a 42% YoY growth to reach ₹1,537 crore.

The firm said the domestic jewellery growth was “led by a vibrant festive season and backed by visible and evocative campaigns for all brands in the portfolio. The robust growth was supported by a powerful exchange program, wedding sales, festive collections, and attractive coin offers, driving strong growth momentum throughout the quarter, despite elevated gold prices.”

The international jewellery business clocked a robust 83% YoY increase to ₹1,058 crore for Q3FY26, aided by both store expansion and strong like-to-like growth.

The analog segment continued to be the mainstay, clocking 20% growth in consumer sales, accompanied by healthy same-store sales growth across key retail formats.

“Premiumisation journey saw steady progress across Titan, Fastrack and Sonata brands, all growing in healthy double-digits compared to Q3FY25. Smart Watches saw demand moderation in volumes, declining year-on-year by 27% amidst stable pricing in the sub-segment,” Titan said.

“Across its automation solutions and manufacturing services businesses, TEAL is expanding its presence to serve marquee Indian as well as global customers,” the Bengaluru-based company said.

What the MD said

Commenting on the results, Ajoy Chawla, Managing Director of Titan Company, said: "We marked a stellar third quarter of 40% growth characterized by a strong performance across our key businesses. The festive period spurred broad-based consumer interest across our portfolios, underscoring resilience in premium and accessible segments alike.”

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

“Our Watches and EyeCare businesses sustained their growth trajectories, clocking valuable gains across key brands in their portfolios. We are encouraged by the consistent performance in our Fragrances business and investing to grow our Women's Bags and Taneira businesses.”

Towards the quarter-end, Titan Company launched beYon, a lab-grown jewellery line to bolster its multi-brand jewellery portfolio and explore new growth avenues.

“We are excited to announce the completion of 67% acquisition of Damas Jewellery after quarter-end, wholeheartedly welcoming them to our Titan family. The strategic addition enables us to address evolving consumer preferences across new geographic and demographic markets extending well beyond our traditional Indian diaspora,” Chawla added.

Shares of Titan Company closed 0.85% higher at ₹4,293.80 per unit on the National Stock Exchange (NSE) on Tuesday, ahead of the result announcement.