Titan Q1 FY26 Update: Jewellery Up 18% YoY, Watches and International Business Show Resilience
By Shishta Dutta | Published at: Jul 7, 2025 05:48 PM IST
Bengaluru, July 7, 2025 — Titan Company Ltd. (NSE: TITAN | BSE: 500114) reported a good performance for Q1 FY26. Despite the volatility of the gold price, its jewellery business grew by over 18% year over year, and its international activities almost doubled due to high demand in the US market.
Segment-Wise Growth Performance (YoY %)
| Segment | YoY Growth | Store Additions (Net) | Total Store Count |
|---|---|---|---|
| Jewellery | ~18% | 19 | 872 |
| Watches & Wearables | ~2.3% | 5 | 983 |
| EyeCare | ~12% | -20 | 872 |
| Emerging Businesses | ~36% | 1 | 89 |
| International | ~49% | 1 | Not stated |
| Consumer Businesses | ~20% | 10 | 3,322 |
Note: Growth excludes bullion and Digi-gold sales. International growth is based on aggregated retail sales.
Key Business Highlights
Jewellery
- Titan’s jewellery segment recorded ~18% YoY growth amid volatility in gold prices, particularly between May and mid-June.
- While Akshaya Tritiya drove strong early-quarter sales, the sharp rise in gold prices softened momentum later in June.
- Buyer growth was flat YoY for both Tanishq (TMZ) and CaratLane, but customers leaned toward lighter weight, lower karat jewellery.
- Double-digit growth was seen in plain gold and studded jewellery segments.
- L2L growth in CaratLane remained healthy in double digits.
- Of the 19 new stores added: 3 were Tanishq, 7 Mia, 9 CaratLane.
Watches & Wearables
- Grew by ~2.3% YoY, supported by analog volume and value growth.
- Sonata saw improved performance.
- Fastrack and international business recorded healthy double-digit growth.
- 5 new stores were added: 4 Titan World, 1 Helios.
EyeCare
- Sales declined by ~12% YoY.
- Net store closures of 20, bringing total to 872.
- Titan Eye+ opened 12 stores and closed 32 in the quarter, net reduction led to 20 store exits.
Emerging Businesses
- Domestic fragrances segment grew ~56% YoY, driven by SKINN.
- Women’s Bags posted ~61% YoY growth, and Taneira rose ~15% YoY on Saree sales value growth.
International Business
- Jumped ~49% YoY, largely driven by Tanishq’s US operations.
- 1 net new store added in the Middle East: Tanishq and Titan Eye+ each opened one store in UAE; 1 Mia store was closed.
Management Commentary
“Despite gold price volatility, our jewellery business delivered a strong 18% growth, and international markets continue to be a significant growth driver,” said Ashok Sonthalia, CFO, Titan Company Limited.
The company stated that all Q1 FY26 figures are provisional and subject to limited review by statutory auditors.
REF: https://nsearchives.nseindia.com/corporate/TITAN_07072025165627_Q1update202526.pdf
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