Titan Company on Thursday reported a 34% YoY surge in its Q1FY26 standalone net profit at Rs 1,030 crore versus Rs 770 crore in the year ago period. The profit after tax (PAT) was above Street's estimates of Rs 925 crore.
The company's revenue from operations stood at Rs 13,192 crore, up 17% YoY from Rs 11,263 crore reported in the corresponding quarter of the last financial year.
Company's Earnings Before Interest and Taxes (EBIT) stood at Rs 1,596 crore, climbing 33% over Rs 1,203 crore reported in the year ago period.
On a consolidated basis, the PAT jumped 53% to Rs 1,091 crore compared to Rs 715 crore reported in the corresponding quarter of the last financial year. Meanwhile, the revenue rose 21% to Rs 14,966 crore against Rs 12,386 crore in Q1FY25.
Profit margin
The standalone profit margin was up 97 bps to 7.8% in Q1FY26 while it was 151 bps higher on a consolidated basis at 7.3% in the quarter under review.
Jewellery business
Jewellery portfolio grew 19% to Rs 12,797 crores (excluding bullion and digi-gold soles) despite an elevated gold price environment and challenging market conditions.
Watch segment
Watches division delivered an exceptional growth of 24% achieving Rs 1,273 crores, marking one of its best-ever quarters.
The Indian business of Tanishq, Mia and Zoya (together) grew 18% to Rs 11,217 crores and CaratLane clocked a strong 39% growth to Rs 1,026 crores in the same period. The International jewellery business grew 49% over Q1FY25 to Rs 554 crores demonstrating strong growth momentum. The jewellery portfolio (together) recorded an EBIT at Rs 1,408 crores for the quarter at a margin of 11%.
High gold prices and challenging market conditions saw customers gravitate toward gold purchases driving better growths in gold jewellery and coins, vis-a-vis studded, the company said in its filing to the exchanges. Ticket size improvement largely offset the impact of elevated gold prices on customer traffic in the quarter.
CaratLane's targeted gold coin promotion saw excellent consumer response driving healthy customer acquisition, the Tata Group company claimed.
EyeCare business
The total income of Rs 238 crores in Q1FY26 grew 13% over Q1FY25. Business recorded an EBIT of Rs 20 crores clocking a margin of 8.4% for the quarter. Driven by seasonal trends during the quarter, sunglasses growth significantly outpaced prescription products (lenses and frames).
The Division added a new store in Sharjah, UAE during the quarter. In India, network optimization continued with 20 store closures (net).
The company's revenue from operations stood at Rs 13,192 crore, up 17% YoY from Rs 11,263 crore reported in the corresponding quarter of the last financial year.
Company's Earnings Before Interest and Taxes (EBIT) stood at Rs 1,596 crore, climbing 33% over Rs 1,203 crore reported in the year ago period.
On a consolidated basis, the PAT jumped 53% to Rs 1,091 crore compared to Rs 715 crore reported in the corresponding quarter of the last financial year. Meanwhile, the revenue rose 21% to Rs 14,966 crore against Rs 12,386 crore in Q1FY25.
Profit margin
The standalone profit margin was up 97 bps to 7.8% in Q1FY26 while it was 151 bps higher on a consolidated basis at 7.3% in the quarter under review.
Jewellery business
Jewellery portfolio grew 19% to Rs 12,797 crores (excluding bullion and digi-gold soles) despite an elevated gold price environment and challenging market conditions.
Watch segment
Watches division delivered an exceptional growth of 24% achieving Rs 1,273 crores, marking one of its best-ever quarters.
The Indian business of Tanishq, Mia and Zoya (together) grew 18% to Rs 11,217 crores and CaratLane clocked a strong 39% growth to Rs 1,026 crores in the same period. The International jewellery business grew 49% over Q1FY25 to Rs 554 crores demonstrating strong growth momentum. The jewellery portfolio (together) recorded an EBIT at Rs 1,408 crores for the quarter at a margin of 11%.
High gold prices and challenging market conditions saw customers gravitate toward gold purchases driving better growths in gold jewellery and coins, vis-a-vis studded, the company said in its filing to the exchanges. Ticket size improvement largely offset the impact of elevated gold prices on customer traffic in the quarter.
CaratLane's targeted gold coin promotion saw excellent consumer response driving healthy customer acquisition, the Tata Group company claimed.
EyeCare business
The total income of Rs 238 crores in Q1FY26 grew 13% over Q1FY25. Business recorded an EBIT of Rs 20 crores clocking a margin of 8.4% for the quarter. Driven by seasonal trends during the quarter, sunglasses growth significantly outpaced prescription products (lenses and frames).
The Division added a new store in Sharjah, UAE during the quarter. In India, network optimization continued with 20 store closures (net).
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