Tata Group-backed lifestyle company Titan Company reported a 114% YoY jump in consolidated net profit to Rs 2,393 crore in Q2 FY27, compared with Rs 1,120 Cr in the corresponding quarter last year, supported by strong growth across its jewellery, watches and eyecare businesses.
The company's total income increased 13.8% to ₹21,430 crore in the September quarter from ₹18,837 crore a year earlier. However, the reported profit includes a non-operational accounting gain of ₹671 crore arising from the fair-value reassessment of a liability linked to its Damas acquisition.
Excluding this accounting credit, profit after tax stood at approximately ₹1,722 crore, still registering around 54% growth YoY.
Founded in 1984 as a joint venture between the Tata Group and Tamil Nadu Industrial Development Corporation (TIDCO), Titan was shaped by Xerxes Desai, its founding Managing Director, who played a pivotal role in building the company into one of India's leading consumer lifestyle businesses. The company is currently led by Managing Director Ajoy Chawla.
Jewellery Business Leads Titan's Growth
Titan's jewellery portfolio recorded 24% YoY growth in income to Rs 17,495 crore during Q2 FY27, excluding bullion and digital gold sales.
Its domestic jewellery business grew 21% to Rs 16,343 crore. The combined Tanishq, Mia and Zoya portfolio recorded 20% growth to Rs 14,935 crore, while CaratLane reported a stronger 31% increase to Rs 1,408 crore.
Demand for design-led and diamond-studded jewellery supported the performance, with studded jewellery growth reaching the early thirties.
Titan added 42 net jewellery stores in India during the quarter, including seven Tanishq, 18 Mia, four beYon and 13 CaratLane outlets. Tanishq also opened a new store in Los Angeles, expanding its international retail presence.
The international jewellery business recorded 10% growth to ₹1,152 crore.
Watches And Eyecare Businesses Maintain Momentum
Titan's watches business reported total income of Rs 1,881 crore, registering 27% YoY growth.
Analog watches recorded growth in the early thirties, supported by premiumisation and product differentiation. Its smartwatch business also returned to positive growth, reporting a high single-digit increase.
The division added 34 net stores in India during the quarter across Titan World, Fastrack, Helios, Helios Luxe and Nebula.
The eyecare business also delivered a strong performance, with total income increasing 28% to ₹281 crore. Its EBIT stood at ₹23 crore, with a margin of 8.2%.
Emerging Businesses And Engineering Operations Expand
Titan's emerging businesses, including SKINN fragrances, IRTH women's bags and Taneira, recorded 21% YoY growth in total income to ₹171 crore. However, the portfolio continued to report a loss of ₹6 crore.
SKINN and Fastrack fragrances maintained volume growth, while IRTH benefited from higher average selling prices and new store openings. Taneira also improved its performance through stronger same-store sales.
Meanwhile, Titan Engineering and Automation Limited (TEAL) reported a 53% increase in total income to ₹636 crore. Its automation solutions and manufacturing services businesses supported the growth, with the segment reporting EBIT of ₹78 crore.
Titan Management Sees Resilient Consumer Demand
Commenting on the results, Ajoy Chawla, Managing Director of Titan Company, said the business delivered approximately 25% consolidated operating growth despite a strong base in the previous year and a shift in the festive calendar towards Q3 FY27.
The distinction between reported and underlying growth remains important for investors. Titan's ₹2,393 crore profit includes the ₹671 crore accounting credit, while jewellery margins also benefited from approximately ₹536 crore in customs-duty-related gains.
The company said consumer demand remained healthy through most of the quarter, supported by design-led collections and attractive offers.
With jewellery continuing to account for the largest share of its business, alongside expansion in watches, eyecare and emerging lifestyle categories, Titan is strengthening its position across India's organised consumer retail market.
Disclaimer: This article is for information purposes only and is not investment advice. Investments in securities are subject to market risks. Please read the official offer documents before investing.
