Titan Reports Strong Q2 FY26 Growth and Plans Damas Jewellery Acquisition
Titan reported Q2 FY26 consolidated income up 21% to ₹16,407 crore and PAT up 59% to ₹1,120 crore. All segments performed well. The company announced plans to acquire a controlling stake in Damas Jewellery.
The announcement of strong quarterly results, with significant growth in revenue and profit, indicates robust business performance. The strategic plan to acquire a controlling stake in 'Damas Jewellery' is a major development that could significantly impact future growth and market presence, especially in the GCC region.
The company reported robust growth across key financial metrics (Total Income, EBITDA, EBIT, PAT) for Q2 FY26 on both standalone and consolidated bases. Most business segments, especially Jewellery and TEAL, showed strong performance. The planned acquisition of Damas Jewellery signifies strategic expansion and global ambition.
* Titan Company Limited reported a strong performance for the second quarter (Q2) ended 30th September 2025, with consolidated total income (excluding bullion and Digi-gold sales) growing 21.0% year-on-year (YoY) to ₹16,407 crore. Consolidated Profit After Tax (PAT) increased by 59.0% YoY to ₹1,120 crore. * Standalone total income (excluding bullion sales) grew 17.9% YoY to ₹14,684 crore, and standalone PAT increased by 42.9% YoY to ₹1,006 crore. * Management Commentary: Mr. C K Venkataraman, Managing Director, noted that Q2 FY26 started slow but improved with early festive commencement in September, driving a healthy 21% growth. The Jewellery business particularly benefited from this surge. * Strategic Acquisition: Titan announced its plan to acquire a controlling stake in 'Damas Jewellery', a prominent brand in the GCC region, marking a significant step in the company's global ambitions. * Segment Performance Highlights (Consolidated): * Jewellery: Total Income grew 20.7% YoY to ₹14,092 crore, with EBIT rising 54.6% YoY to ₹1,506 crore. Domestic Jewellery (Tanishq, Mia, Zoya) saw c.18% YoY growth, while CaratLane (domestic) grew c.32% YoY. International Jewellery recorded c.92% YoY growth. * Watches: Total Income increased 13.3% YoY to ₹1,477 crore, and EBIT grew 21.6% YoY to ₹238 crore. Domestic watches grew c.13% YoY, driven by analog watches and premiumization trends. * EyeCare: Total Income grew c.9% YoY to ₹220 crore, though EBIT was ₹12 crore. Growth moderated in September due to anticipated GST rate cut. * Emerging Businesses (Taneira, Fragrances, Women’s Bags): Total Income grew 34.0% YoY to ₹142 crore. Losses reduced to ₹24 crore from ₹29 crore in Q2 FY25. * TEAL (Titan Engineering & Automation Limited): Total Income surged c.112% YoY to ₹415 crore, with EBIT at ₹94 crore. * The company added 25 net stores for Tanishq, Mia, Zoya, 10 for CaratLane, 15 for Watches, and 5 'Runway' stores for EyeCare during the quarter.
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