Titan sees 20 pc revenue growth in April-June despite softening of purchase in jewellery division

Mint

08-07-2025

New Delhi, Jul 8 (PTI) Tata group's jewellery and watchmaking brand Titan has reported a 20 per cent growth in its standalone revenue in the June quarter of FY26, according to the latest quarterly updates by the company.
Its jewellery division, which contributes over 80 per cent of its revenue, reported an 18 per cent growth on a year-on-year basis.
However, "gold price volatility" has affected the consumer sentiments and "buyer growth was flat" for its flagship brands Tanishq, Mia and Zoa (TMZ) brand and CaratLane, the company said.
"In the high gold rate scenario, customers preferred light-weight and lower karatage jewellery. The studded ratio came in lower YoY, driven by the differential growths across segments (in TMZ), with coins continuing to lead strongly, plain gold growing in mid-teens and studded segment growth coming in early double digits," it said on Monday.
Nevertheless, the Akshaya Tritiya period, which was during the April-June quarter, saw good traction, said Titan.
"The like-to-like (L2L) domestic sales growth in TMZ was in early double digits, driven entirely by ticket size growth across formats," it said.
During the quarter, Titan added 19 new stores in India, in which three were in Tanishq, seven in Mia and nine in CaratLane, respectively.
For Titan, the jewellery division is the main contributor to its topline.
In FY25, revenue from the operations of Titan, a joint venture between Tata group and the Tamil Nadu government, was at ₹ 57,339 crore, in which its jewellery division contributed ₹ 46,571 crore, which is over 81 per cent.
Its domestic watch business clocked a strong growth of 23 per cent YoY. This was led by analogue watches, driven by both volume and value growth.
The division added nine new stores -- four in Titan World and five in Helios.
In the eye care segment, though Titan grew by 12 per cent YoY in the first quarter of FY26, it closed 32 stores during the period.
"Titan Eye retail opened 12 new doors and closed 32 stores resulting in 20 domestic store closures (net) for the quarter," it said.
In the emerging businesses, Titan's fragrances vertical grew 56 per cent YoY led by volume growths in SKINN and Fastrack, women's bags grew 61 per cent.
Its Indian dresswear business Taneira grew by 15 per cent YoY driven by value growth in sarees.
Over its international business, Titan said it grew by 49 per cent YoY led by near doubling of Tanishq's business in the US market.
Shares of Titan Company on Tuesday tumbled over 6 per cent, eroding its market valuation by ₹ 20,086.15 crore to ₹ 3,05,451.71 crore.
The stock dropped 6.17 per cent to ₹ 3,440.60 apiece on the BSE. On the NSE, it tanked 6.16 per cent to ₹ 3,440.