Jewellery and watch maker Titan on Monday reported a 59.1% year-on-year rise in consolidated net profit to Rs 1,120 crore for the quarter ended September 30, 2025 (Q2FY26), as a steep rise in gold prices lifted the firm’s bottomline. The profit number was ahead of street estimates of Rs 1,079 crore forecast for the period.
Q2 consolidated revenue came in at Rs 18,725 crore, which was a growth of nearly 29% versus last year. Q2 topline was also ahead of street estimates, which had pegged the number at Rs 15,955 crore for the period. Ebitda grew 51.7% year-on-year to Rs 1,875 crore versus a forecast of Rs 1,733 for the period. While Ebitda margins grew 150 basis points to 10% in the quarter under review versus 8.5% reported last year. One basis point is one-hundredth of a percentage point.
Titan, which is home to the Tanishq, CaratLane, Zoya and Mia jewellery brands, benefitted from the late surge in jewellery demand, the company said.
“The demand momentum in Navratri was particularly strong leading to a healthy 21% growth in Q2 for the jewellery portfolio,” CK Venkataraman, MD, Titan, said. Titan derives over 85% of its revenue from the jewellery segment. The rest comes watches, wearables, eyewear, fragrances etc.
Excluding bullion and digi-gold sales, the jewellery division contributed Rs 14,092 crore in revenue in Q2, sector analyts said. Tanishq, Mia, and Zoya together recorded an 18% year-on-year growth to Rs 12,640 crore in Q2, while CaratLane posted a strong 32% YoY growth to Rs 1,072 crore during the quarter. The international jewellery business grew even stronger, with revenue nearly doubling to Rs 561 crore, the company said. The watches and wearables segment posted revenue of Rs 1,477 crore; eyewear contributed Rs 220 crore and emerging businesses (sarees, fragrances, accessories) reported revenue of Rs 142 crore in Q2.
Titan’s board of directors on Monday also approved the appointment of Ajoy Chawla as the next MD for a five-year term starting January 1, 2026, following the retirement of CK Venkataraman on December 31, 2025. Chawla’s appointment to the post was made earlier. He is currently CEO of the jewellery division.
The company also reaffirmed its focus on growth across its four business verticals — jewellery, watches, eyecare, and other lifestyle products — and said it remains optimistic about festive and wedding season demand over the next two quarters.
