Titan Reports 25% Revenue Growth in Q2, Jewellery Sales Up 21%

New Delhi: Titan Co Ltd, the country’s leading branded jewellery and watchmaker, reported a 25 per cent year-on-year growth in its revenue for the September quarter of FY27, driven by performances across its jewellery, watches and eyewear segments.

However, the growth momentum moderated on a sequential basis, with revenue growth in the September quarter at 25 per cent, compared with over 40 per cent in each of the preceding three quarters.

Titan had reported 40 per cent growth in standalone revenue in the December quarter of FY26, which further accelerated to 46 per cent in the March quarter. It had reported 41 per cent revenue growth in the June quarter of FY27.

In the September quarter, its jewellery division, which contributed 91.5 per cent of its over Rs 75,000 crore revenue in FY26, reported 21 per cent growth.

Titan, which operates in the branded jewellery segment with its flagship brand Tanishq and other brands, including Mia, Zoya, beYon and CaratLane, said consumer demand remained healthy, with some moderation towards the end of the quarter due to the shift in the festive calendar to Q3 FY27.

“Aided by the ‘Festival of Diamonds’ campaign and brand-level promotions, studded jewellery grew strongly in the early thirties, while plain gold jewellery grew 20 per cent year-on-year (YoY),” it said.

However, investment-led coins demand “tapered” from a high base, “resulting in a high single-digit decline” YoY, said Titan.

“Buyer growth (at a portfolio level) came in mid-single digits with average ticket sizes seeing double-digit growth in this period,” it said.

Within the jewellery business, flagship brand Tanishq, along with Mia, Zoya and beYon, recorded around 20 per cent growth during the quarter, while digital-first jewellery retailer CaratLane continued to outperform with a 32 per cent growth.

Its watches division grew 30 per cent, riding on premiumisation trends.

Titan’s analogue watches business clocked healthy growth in the early thirties. The smartwatches business, which had been in decline for the last few quarters, also saw a “recovery with encouraging high single-digit growth” in the quarter ended September 30, 2026.

Titan’s EyeCare business grew 28 per cent, driven by focused execution across key strategic priorities.

“The multi-brand approach, continuous upgradation of the (existing) store network and a sharper merchandise portfolio is meaningfully enhancing the overall customer experience, yielding encouraging results for the business,” it said.

Among emerging businesses, which grew 21 per cent overall, fragrances clocked mid-thirties growth, while women’s bags grew in the twenties.

Its ethnic wear brand Taneira recorded high-single-digit growth YoY.

Its International business, which mainly consists of jewellery brands – Tanishq, Mia and CaratLane – continued to witness strong double-digit growth in North America.

Moreover, “GCC business has held up well in a volatile geopolitical environment and is recording improving growth for Tanishq, with Damas showing early signs of recovery,” it said.

Damas Jewellery is a UAE-based jewellery retailer in which Titan acquired a majority stake in July last year.

Titan is a joint venture between the Tata Group and the Tamil Nadu Industrial Development Corporation (TIDCO).

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