Titan Q1 FY26 Update: Jewellery Up 18% YoY, Watches and International Business Show Resilience

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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