Titan Company Ltd Share Price – NSE /  BSE

Diamond, Gems and Jewellery, Mid Cap

The growth was driven by strong traction in jewellery and steady momentum across segments. The company added a net 47 stores during the quarter, taking its total retail network to 3,603 stores.

The jewellery business emerged as the standout performer, delivering around 46% YoY growth. Secondary (consumer) sales rose about 52%, led by strong traction in Tanishq and supported by Mia. Despite a sharp rise in gold prices, the business recorded high single-digit buyer growth during the quarter, recovering from nearly flat trends seen in the previous three quarters of FY26. Higher average ticket sizes further boosted overall revenue.

Category-wise, studded jewellery posted growth in the early thirties, plain gold jewellery expanded in the mid-thirties, while coin sales nearly tripled compared to Q4 FY25. Like-to-like secondary sales across jewellery formats rose 48% YoY.

Titan added 27 jewellery stores in India during the quarter, including 8 Tanishq stores, 14 Mia outlets and 5 CaratLane stores.

The watches division reported about 7% YoY growth, supported by a 16% rise in analog watches, even as the smartwatches segment declined sharply by 53%. Premiumisation trends continued to drive higher ticket sizes. The division added 30 stores during the quarter, including Titan World, Fastrack, Helios and Helios Luxe outlets.

The eyewear business grew about 16% YoY, aided by strong demand for international brands across sunglasses, lenses and frames. The company continued to optimise its retail footprint by renovating 37 stores, closing 32 and adding 12 new outlets.

Among emerging businesses, fragrances grew around 30% YoY, driven by strong volume growth in Fastrack and Skinn. Women?s bags recorded a sharp 47% growth, supported by store expansion and healthy demand across Irth and Fastrack. However, Taneira reported a marginal 1% decline in sales. During the quarter, Irth added six stores while Taneira shut one outlet.

On the international front, Titan?s North America business maintained strong momentum with around 50% YoY growth. Overall international operations, including Damas, surged approximately 156% YoY.

As of March 2026, Titan?s international presence included 149 stores in the GCC region, 12 stores in North America and one store in Singapore. The GCC network comprises 142 jewellery stores across Tanishq, Mia and Damas, along with seven Titan Eye+ stores.

Titan is India's leading lifestyle company. It has established leading positions in the jewellery, watches and eyecare categories. It has also diversified into wearables, indian dress wear and fragrances & fashion accessories.

The company reported 61% increase in consolidated net profit to Rs 1,684 crore on a 40% increase in total income to Rs 24,592 crore in Q3 FY26 over Q3 FY25.

Titan Company has received the credit rating ICRA AAA; Stable / ICRA A1+ for various debt facilities aggregating to Rs 21,950 crore.

Titan Company has fully redeemed commercial paper of Rs 1,500 crore on 09 March 2026.

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While EBIT improved by 63% to Rs 2,657 crore, EBIT margin expanded by 155 basis points YoY to 10.8% in Q3 FY26.

Profit before tax in Q3 FY26 stood at Rs 2,375 crore, up by 70% from Rs 1,396 crore recorded in Q3 FY25.

The revenue of the Jewellery Business grew 42% YoY to Rs 22,517 crore. Of this, the India business income was Rs 21,458 crore (up 41% YoY) and that of the International jewellery business was Rs 1,058 crore (up 83% YoY).

Titan stated that the India (Domestic) business has recorded one of its highest ever quarterly growth performance (excluding Covid periods) led by a vibrant festive and backed by visible and evocative campaigns for all brands in the portfolio. The robust growth was supported by a powerful exchange program, wedding sales, festive collections and attractive coin offers driving strong growth momentum throughout the quarter, despite elevated gold prices.

The International Business clocked robust double-digit retail growth during the quarter aided by both store expansion and strong like-to-like growths.

Of the 49 new store additions (net) for Q3FY26, 47 new stores (net) were added in India comprising of 24 in Caratlane, 11 in Mia, 10 in Tanishq, 1 in Zoya and 1 in beYon, respectively. Tanishq added two new stores in USA in Boston and Orlando during the quarter.

The Watches business achieved a total income of Rs 1,295 crore for the quarter, growing 14% in Q3 FY26 over Q3FY25. The business witnessed strong traction in the festive season driven by gifting occasions. Premiumization journey saw steady progress across Titan, Fastrack and Sonata brands, all growing in healthy double-digits compared to Q3 FY25.

The EyeCare business recorded 18% YoY rise in total income to Rs 231 crore in Q3 FY26. The business saw healthy demand in core categories supported by high single-digit volume growth and mid-single digit growth in average selling prices (ASP). Growth was led by lenses and sunglasses, both achieving double-digit growths for the quarter.

Total Income for the Emerging Businesses (women's bags, fragrances and Taneira) grew 15% YoY to Rs 135 crore in Q3 FY26. Compared to same period last year, women's bags experienced strong double-digit growth in both volumes and ASP. The fragrances business grew 24%, driven by strong volume growths in Skinn and Fastrack perfumes. Taneira's consumer business grew 7% led by increase in ASP and same-store-sales growth.

The Titan Engineering & Automation (TEAL') Business recorded a total income of Rs 323 crore in Q3 FY26, growing 67% as compared to Q3FY25. Across its automation solutions and manufacturing services businesses, TEAL is expanding its presence to serve marquee Indian as well as global customers.

A global research house has reportedly reiterated its ?buy? rating on the stock, assigning a target price of Rs 4,500 per share, implying an upside of 5.46% from its previous close of Rs 4267.05 recorded on the BSE.

The brokerage reportedly noted that Titan delivered strong consolidated revenue and EBITDA growth of 42% and 41% year-on-year respectively, led by solid sales momentum and healthy margins in the jewellery segment.

It reportedly added that while the watches division maintained strong momentum in analogue products, the wearables category continued to face pressure.

The upbeat quarterly performance comes amid strong festive demand and rising gold prices, which has not significantly dampened consumer appetite for branded jewellery, helping Titan maintain growth momentum across its key consumer businesses, the report stated.

Titan is India's leading lifestyle company. It ha established leading positions in the jewellery, watches and eyecare categories. It has also diversified into wearables, indian dress wear and fragrances & fashion accessories.

The scrip shed 0.30% to currently trade at Rs 4254.10 on the BSE.

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