Titan Q4 net profit up 13% to Rs 871 crore on strong jewellery sales

Business Standard

08-05-2025

Titan Company's net profit during the fourth quarter of financial year 2024-25 (FY25) was up 13 per cent year-on-year (Y-o-Y) to ₹871 crore on the back of strong sales.
Revenue from operations grew 19.4 per cent Y-o-Y to ₹14,916 crore. Sequentially, net profit fell 16.8 per cent while revenue was down 15.9 per cent.
The jewellery major's profit before interest, depreciation, and tax (PBIDT) was up 22.4 per cent Y-o-Y to ₹1,653 crore in the quarter ended March.
The owner of Tanishq, Mia and Zoya saw its income from the jewellery business grow 25 per cent to ₹11,232 crore on a standalone basis compared to the corresponding quarter last year.
Also, its India business grew 23 per cent in the same period, driven by a strong 30 per cent growth in gold jewellery and coins (together) and 12 per cent surge in studded jewellery, it said.
'Despite a steep increase in gold prices, the studded and gold coin segments saw buyer growths. Solitaires likewise witnessed a good rebound on the back of good buyer growth, albeit on the lower carat weights. The high gold prices, however, are continuing to weigh on consumer sentiment in the near term,' the company said in its earnings release.
In the watches and wearables business, it recorded a total income of ₹1,126 crore, up 20 per cent over the corresponding quarter last year.
The domestic business grew 18 per cent during the same period.
The eyecare division recorded a total income growth of 16 per cent to ₹192 crore in the quarter.
Emerging businesses, comprising Indian dress wear ('Taneira') and fragrances and fashion accessories ('F&FA'), recorded a total income of ₹102 crore for Q4FY25, growing 5 per cent over last year.
'FY25 was marked by multiple external events that had varying impacts on the businesses in general. Titan's businesses clocked yet another year of strong 22 per cent revenue growth. This resulted in the company crossing the milestone of over ₹50,000 crore of revenues for the full year,' C K Venkataraman, managing director (MD) of Titan said in its earnings release.
He added, 'Our analog watch business continued its strong growth trajectory by product innovation-led premiumisation while moving in sync with the rising aspirations of the Indian consumer. The eye care business has returned to the double-digit growth trajectory in Q3 and Q4 of FY25 and is poised for even better growth in FY26.'
He also said that within emerging businesses, fragrances has performed well in FY25 signifying growing acceptance of the SKINN brand. Its international business expansions are progressing well in North America and Gulf Cooperation Council (GCC) regions.
'As we look forward to FY26, all businesses of Titan Company are focusing on market share expansion in their respective categories and catering to the changing needs of our consumers,' Venkataraman said.
Ajoy Chawla appointed MD
The board of directors of Titan Company, at its meeting on Thursday, approved Ajoy Chawla as managing director (MD) from January 1, 2026, as CK Venkataraman, the current MD, will retire on December 31 this year.
Chawla is currently chief executive officer (CEO) of the jewellery division.
He is a mechanical engineer from VJTI Mumbai and a PGDM from IIM Calcutta. He joined the Tata Administrative Services (TAS) in 1990 and initially joined the finance department of Titan in 1991.
'Over the next two decades, he was in the watches division, and played several roles spanning commercial, sales, retailing, supply chain, SAP implementation, leading accessories and licensed brands as strategic business unit (SBU) head. He then headed the Titan SBU for domestic and international markets,' the release said.
Between 2013 and 2019, Chawla was the chief strategy officer of Titan as well as head of business incubation, scaling the fragrances business and establishing the Taneira business.
In October 2019, he became CEO of Titan's jewellery division. Under his leadership, the jewellery division has grown 2.5 times in sales and profits and reinforced its market and thought leadership, the release added.
The formal process to induct Chawla on the board of the company and his appointment as MD of Titan will be completed in due course. It is subject to shareholder approval.
The decision relating to Chawla's successor in the jewellery division will be taken subsequently.