Strong festive sales, international expansion, and emerging businesses drive Titan’s growth; shares hit 52-week high
Jewellery and watchmaker Titan on Tuesday reported around 40 per cent year-on-year growth in standalone revenue for the December quarter of FY26, supported by elevated gold prices and strong festive and wedding demand.
According to its quarterly update, the Tata Group company said its jewellery division, which contributes nearly 85 per cent of overall revenue, “clocked a robust 41 per cent YoY growth in Q3FY26”. “Revenue growth was driven by substantial average selling price increases, offsetting flattish buyer growth,” the company added.
During the quarter, Titan’s flagship jewellery brand Tanishq rolled out gold exchange offers to manage the impact of high gold prices and extend consumer engagement beyond the traditional festive season. The company observed “distinct consumer patterns” across product categories. “Gold coins nearly doubled in sales v/s Q3FY25, reinforcing their strong investment proposition,” it said.
Plain gold jewellery posted strong growth in the high-thirties, reflecting consumer preference for premium, design-led offerings, while studded jewellery recorded “double-digit growth in the mid-twenties,” supported by buyer additions. Titan added that “the like-to-like growths (secondary) across all jewellery retail formats (combined) were in the low-thirties.”
Watches Segment Performance
The watches division grew around 13 per cent YoY, driven by a 17 per cent rise in analogue watch sales during the festive period. “Premiumisation trends resulted in solid double-digit gains for the Titan brand, complemented by healthy volume expansion during the festive period,” the company said.
Sonata and Fastrack delivered robust double-digit value growth, while the smartwatch segment declined 26 per cent YoY due to lower volumes. The division added 22 net new stores across Titan World, Fastrack, Helios, and Helios Luxe formats.
EyeCare And Emerging Businesses
Titan’s EyeCare business posted 16 per cent growth, supported by demand for sunglasses and prescription lenses, with international brands and e-commerce driving expansion. The division added 11 new stores, renovated 20, closed 30, and launched two Runway premium sunglass stores.
Emerging businesses showed strong momentum: the fragrance segment grew around 22 per cent YoY, while women’s bags surged 111 per cent due to nearly two-fold volume growth and healthy ASP increases in Fastrack and Irth. Conversely, Taneira, the Indian dresswear brand, declined 6 per cent YoY.
“Despite double-digit ASP growth across sarees and the ready-to-wear portfolio, lower volumes more than offset this benefit, resulting in an overall YoY decline,” Titan said.
International Business
Titan’s international operations, primarily jewellery brands Tanishq, Mia, and CaratLane, rose by around 81 per cent YoY, led by strong demand in the GCC, Singapore, and North America. “During the quarter, Tanishq opened 2 new stores in the NA market, one each in Boston and Orlando,” the company said.
Overall, Titan added 56 net new stores across all segments during the quarter, taking its total retail footprint to 3,433 outlets. International operations grew 79 per cent YoY, while domestic operations rose 38 per cent YoY.
While within India, Titan added 47 net jewellery stores during the quarter across Tanishq, Mia, Zoya, beYon, and CaratLane, taking the total count to 1,167. CaratLane alone added 24 stores, expanding its network to 365 outlets.
Shares Hit 52-week High
Shares of Titan jumped nearly 5 per cent on Wednesday following the strong quarterly results. The stock climbed 4.59 per cent to Rs 4,300, marking a 52-week high on the BSE, while at the NSE it rose 4.57 per cent to reach the one-year peak of Rs 4,300.
