Shares of Titan Co. hit a fresh peak during early trade on Wednesday after the company reported a strong earnings growth in the third quarter that met estimates. The results came after market hours a day ago.
The company logged a consolidated net profit of Rs 1,684 crore in the quarter ended December 2025, marking a 61% uptick compared to the year-ago period. The sharp surge in the bottomline came despite a one-time impact of Rs 152 crore, on account of the implementation of new labour codes.
Titan Q3 Results (Consolidated, YoY)
- Revenue up 43% at Rs 25,416 crore vs Rs 17,740 crore
- Ebitda up 62% at Rs. 2,713 crore vs Rs 1,674 crore
- Ebitda margin at 10.7% vs 9.4%
- Profit up 61% at Rs 1,684 crore vs Rs 1,047 crore
Analysts at brokerage firm CLSA noted that Titan's jewellery business Ebit beat consensus estimates by 11%, driven by topline growth. Analog watches delivered volume growth of 19% YoY while realisation was flattish. Eye care domestic business grew 17% YoY, led by steady demand across categories and high single digit volume growth.
Expansion Plans, Demand Optimism
Titan CFO Ashok Sonthalia told NDTV Profit that the company continues to grow its market share faster than the industry, with its current share standing at around 8%. He said Titan plans to expand internationally to about 50 stores over the next two years and views the newly announced 18% tariffs as manageable for its global operations. The company will restart its US expansion following the tariff clarity.
Sonthalia noted that both lab‑grown and natural diamonds will continue to co‑exist in the market and added that Titan plans to open 8-10 lab‑grown diamond stores over the next four to five months.
"We are focussing more on new products and marketing campaigns," he said, adding the company does not intend to reduce jewellery‑making charges. The company is also strengthening its gold exchange programmes and offsetting pressure on margins through higher‑margin products. He added that demand remained strong in January and that jewellery margins have not yet bottomed out.
Shares of Titan surged as much as 2.6% to hit Rs 4,380. The benchmark Nifty was flat. The total traded volume so far in the day stood at 8.8 times its 30-day average. The relative strength index was at 69.
Out of the 35 analysts tracking Titan, 29 have a 'buy' rating on the stock, four recommend a 'hold' and two suggest a 'sell', according to Bloomberg data. The average of 12-month analyst price target implies a potential upside of 5%.
ALSO READ: Titan Q3 Results: Profit Surges Over 60% Despite Labour Code Impact, Revenue Up 43%
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