Titan Company Limited has registered a 46 per cent year-on-year growth in revenue during the fourth quarter of the 2025-26 financial year.
The performance was primarily driven by the jewellery division, which contributed approximately 85 per cent of total revenue. Secondary consumer sales in the jewellery segment rose by 52 per cent during the March quarter, led by the flagship Tanishq brand and supported by Mia, which focuses on urban working professionals.
According to The Economic Times, this growth occurred despite a steep increase in gold prices, which surged approximately 80 per cent compared to the same period in the previous year.
The company recorded high single-digit buyer growth during the quarter, representing a recovery after three consecutive quarters of nearly flat trends. A considerable increase in the average ticket size per customer further supported this uptick.
Jewellery Division and Product Trends
Within the jewellery category, different sub-segments showed varied performance metrics. Studded jewellery recorded growth in the early thirties, while plain gold jewellery expanded in the mid-thirties.
A significant trend observed during the quarter was the tripling of gold coin sales compared to the fourth quarter of the previous financial year, suggesting a strong consumer preference for gold as an investment asset amidst price volatility.
Like-for-like growth across all jewellery retail formats reached approximately 48 per cent.
Data from ScanX Trade indicates that Titan added 27 new jewellery stores in India during the quarter, including eight Tanishq outlets, 14 Mia showrooms, and five CaratLane stores.
These additions are part of a broader strategy to increase domestic market penetration in both metropolitan and tier-II cities. The total retail network for the company expanded to 3,603 stores by the end of March 2026, with 47 net new stores added across all formats during the final quarter.
International Expansion and Non-Jewellery Segments
Titan’s international business experienced a substantial 156 per cent year-on-year growth, largely due to the strategic acquisition of a 67 per cent stake in Damas Jewellery in February 2026.
This move integrated approximately 146 stores across the GCC region into Titan’s global footprint. In North America, the company maintained momentum with 50 per cent year-on-year growth, bringing its retail presence in the region to 12 stores, primarily under the Tanishq and CaratLane brands.
The watches and wearables division reported a more modest 7 per cent growth. While analogue watch sales increased by 16 per cent due to premiumisation trends, the smartwatch category saw a 53 per cent decline.
The eye care division grew by 16 per cent annually, aided by the performance of international brands in lenses and frames. Emerging businesses, including fragrances and fashion accessories, grew by 20 per cent, though the Indian dress wear brand, Taneira, saw a slight decline of 1 per cent in sales.
Fiscal Context and Market Outlook
The strong fourth-quarter results follow a robust performance throughout the 2026 financial year. In the third quarter ending December 2025, Titan had already reported a 60.8 per cent jump in consolidated net profit to Rs 1,684 crore.
The continued momentum in the final quarter has positioned the company as a leader in the organised jewellery space, which is benefiting from a shift in consumer trust toward branded retailers.
Financial analysts note that while high gold prices, reaching approximately Rs 1,51,500 per 10 grams as per Angel One, may impact volume growth for entry-level buyers, the premium segment remains resilient.
Titan’s ability to drive high-value sales through brands like Zoya and Tanishq has allowed it to maintain margins despite the rising cost of raw materials. The company’s focus on gold exchange schemes and new collection launches continues to be a central pillar of its domestic market strategy.
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