Titan Reports 46% Revenue Growth In Q4 FY26, Jewellery Division Shines Amid High Gold Prices

New Delhi: Jewellery and watch maker Titan Co Ltd has registered a 46 per cent growth in its revenue during the March quarter of FY26, aided by surging gold prices, according to the company's latest quarterly update. This is the second successive quarter in which the Tata Group-managed firm has reported a whopping 40 per cent revenue growth. The company recorded a 40 per cent growth in standalone revenue during the October-December quarter of FY26.

The jewellery division, which contributed around 85 per cent of its revenue, "delivered a strong quarter recording 46 per cent YoY growth in Q4FY26", Titan said in its quarterly updates. Despite a steep increase in gold prices, the jewellery business recorded a "high single-digit buyer growth in Q4FY26" after witnessing a nearly flat increase in the preceding three quarters. The average ticket size also moved up considerably, contributing to the revenue growth in the quarter, it said.

Within the category, studded jewellery grew in "early thirties, gold (plain) clocked growth in the mid-thirties and coins nearly tripled in sales, respectively compared to Q4FY25", it said. The like-to-like growth across all the jewellery retail formats were close to 48 per cent year-on-year. Moreover, during the quarter, "secondary (consumer) sales were higher, growing by 52 per cent" led by its flagship jewellery brand Tanishq and supported by another brand Mia, which mainly targets urban working women aged 22–35 years.

"...both (brands) clocked robust growths, compared to Q4FY25," it said. During the quarter under review, Titan's jewellery business added 27 new stores in India, with 8 in Tanishq, 14 in Mia and 5 in CaratLane. In FY25, revenue from operations of Titan, a JV between the Tata group and the Tamil Nadu government, was at Rs 57,339 crore, in which its jewellery division contributed Rs 46,571 crore, which was 81 per cent higher year-on-year. Its domestic watch division reported a growth of 7 per cent YoY.

Titan reported a growth of 16 per cent in analog watches. However, its smartwatch category reported a decline of 53 per cent. Growth in analog was led by Titan, Sonata and international brands, reflecting sustained consumer interest in both premium and entry levels alike, while premiumisation trends contributed to healthy ticket size increases in the quarter, the company said. The watch division added 30 new stores, which included 17 stores in Titan World, 7 stores in Fastrack, 4 stores in Helios and 2 stores in Helios Luxe.

Titan's eye care business grew 16 per cent annually, helped by a healthy momentum of previous quarters and powered by growth in international brands across product categories of sunglasses, lenses and frames. The eye care division continued optimising its network by renovating 37 stores, closing 32 stores and adding 12 new stores during the quarter. In the emerging businesses, the fragrance category grew 30 per cent, led by a double-digit volume growth in Fastrack and Skinn brands. The category of women's bags grew 47 per cent, led by the network expansion and a healthy volume growth in both Irth and Fastrack brands.

However, sales of the Indian dress business, Taneira, declined by 1 per cent, while it closed 1 store during the period. Titan's international business, including Damas (Dubai-based Jewellery chain in which its had acquired a majority stake in July 2025), grew 156 per cent year-on-year. Titan's international businesses comprise Tanishq, Mia and CaratLane.

In the March quarter, "Titan's North America business continued its strong momentum, clocking 50 per cent YoY growth", it said "As of Mar '26, Titan's international retail network spans 149 stores in the GCC region, 12 stores in North America (Tanishq – 10 stores, CaratLane – 2 stores, including 1 opened during the quarter in Dallas, USA)) and 1 Tanishq store in Singapore," it said. Titan is a joint venture between the Tata Group and the Tamil Nadu Industrial Development Corporation (TIDCO).

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