Editor’s Note
This article highlights Titan’s impressive quarterly performance, with a 40% surge in consolidated revenue driven by robust showroom sales. Notably, its core jewelry segment grew by 42%, underpinned by strong domestic demand and exceptional international growth.
Titan’s total consolidated income for this quarter stood at ₹24,592 crore. A massive increase of 40% was observed compared to last year. The best part is that this growth is not just due to bullion or digital gold, but customers have shopped extensively at showrooms.
The jewelry segment, which is Titan’s core, contributed revenue of ₹22,517 crore. A growth of 42% was recorded. While domestic demand was strong, Titan’s jewelry business abroad surprised everyone by showing a stormy growth of 83%. The opening of new stores and the brand’s growing credibility played a major role in this.
Not only did earnings increase, but the company also showed remarkable improvement in its profitability.
EBITDA: The company’s operating profit increased by 63% to reach ₹2,657 crore.
Margin: EBIT margin improved by 155 basis points and is now at 10.8%.
PBT: Profit before tax was ₹2,375 crore, which is 70% higher than last year.
These figures clearly indicate that Titan not only sold more goods but sold them at the right price and with the right margin.
People often associate Titan only with jewelry, but the company’s other businesses were not far behind this time.
Watches: Demand for analog watches has returned. Although smartwatch sales declined by 27%, classic watches compensated for it. The margin for this segment remained at 12%.
Eyewear: A healthy margin of 10.5% was seen in the glasses and lenses business.
This diversity shows that Titan has now become a multi-category consumer giant.
Titan’s financial health, i.e., its balance sheet, also appears quite strong at this time. The company’s debt-equity ratio is a mere 0.46, and net worth has crossed ₹19,356 crore.
Two major strategic decisions were also taken this quarter:
Lab-Grown Diamonds: The company has entered the new-age market of lab-grown jewelry with the ‘beYon’ brand.
International Expansion: Titan has completed the acquisition of a 67% stake in the Middle Eastern giant Damas Jewellery. This will further increase the company’s global reach.
However, the company has also shown a one-off expense (exceptional expense) of ₹152 crore, which is due to the provisions of the new labor code (Code on Wages, 2019). But management has clarified that this is a one-time expense and will not affect the company’s fundamental strength.
Overall, Titan’s Q3 results were far better than expected. Festive season demand, the strength of the jewelry segment, and management’s excellent grip have made Titan the ‘superstar’ of the market. Steps like lab-grown diamonds and international expansion indicate that the company is not going to stop. However, high gold prices could be a challenge in the coming times, but Titan’s current figures show that it is ready to tackle every challenge.
Total Income (Q3FY26): ₹ 24,592 crore. A jump of 40% on a yearly basis.
Operating Profit (EBITDA): ₹ 2,657 crore. A massive increase of 63% in profit.
Jewelry Revenue: ₹ 22,517 crore. 41% growth domestically and 83% growth globally.
Today’s Price (LTP): ₹ 4,293.80. Up 0.85% from the previous close.
Day’s High: ₹ 4,329.60. A new 52-week high recorded.
52-Week Low: ₹ 2,925.00. Excellent recovery from the lower level.
Delivery Percentage: 44.63%. Investors are buying shares for the long term.
Market Cap (Free Float): ₹ 1,76,730 crore. The consumer stock giant of the Tata Group.
Titan’s shares are witnessing tremendous enthusiasm today, and it has proven its strength in the market by making a new 52-week high of ₹4,329.60. The share opened higher at ₹4,300 and maintained a good buying trend during the day, due to which it is trading around ₹4,293.80.
Investor confidence can be gauged from the fact that shares worth ₹733.77 crore were traded today, with a fantastic delivery of 44.63%, indicating that people are including it in their portfolios for the long term. With a free-float market cap of ₹1,76,730.84 crore, this giant stock has made a long and successful recovery from its low level (₹2,925).