Titan Q1 Results: Profit Surges Over 50%, Beats Estimates

Titan Co.'s consolidated net profit rose 52.6% in the first quarter of financial year 2026, beating analysts' estimates.

The luxury products manufacturer's bottom line increased to Rs 1,091 crore in the April-June period, according to an exchange filing on Thursday. Analysts tracked by Bloomberg had shared a consensus estimate of Rs 936.7 crore.

• Revenue up 24.6% at Rs 16,523 crore versus Rs 13,266 crore (Bloomberg estimate: Rs 14,913.3 crore).

• Ebitda up 47% at Rs 1,830 crore versus Rs 1,247 crore (Estimate: Rs 1,533.9 crore).

• Margins expand to 11.1% versus 9.4% (Estimate: 10.29%).

• Net profit rises 53% to Rs 1,091 crore versus Rs 715 crore (Estimate: Rs 936.7 crore).

Titan's jewellery segment saw a 19% increase in total income to Rs 12,797 crore, with India business growing by 18%. EBIT was approximately Rs 1,408 crore, with a margin of 11%. According to the company, high gold prices and challenging market conditions pushed customers towards gold purchases.

Internationally, the jewellery business rose 49% to Rs 554 crore. The segment saw healthy double-digit growths in both UAE and North America regions achieving its first ever profitability.

The watches and wearables segment recorded Rs 1,273 crore in total income, up 24%. EBIT stood at Rs 287 crore, with a margin of 22.6%. The analog segment saw 28% revenue growth, and Titan World grew in healthy double-digits during the quarter. Additionally, the international brands rose 21% in the quarter ended June. The division in the first quarter opened nine new stores with four stores of Titan World and Five in Helios, respectively.

The segment reported Rs 238 crore in total income, a 13% increase, with EBIT at Rs 20 crore and a margin of 8.4%. The sunglasses growth outpaced the prescription products, the company said in its press release. The segment added a new store in Sharjah and UAE during the quarter.

Emerging businesses, including Taneira, fragrances, and fashion accessories, recorded total income on Rs 108 crore, growing 35%. Women's bag momentum rose 65% while fragrances grew 56%. Taneira saw a growth of 16%, the company added. The volume growth for the segment was in early double-digit.

The business saw a 56% growth in total income to Rs 307 crore in the first quarter. EBIT for the quarter was at Rs 75 crore while the margin was at 24.4%. The AS business in the quarter ended June received orders of Rs 357 crore with the June 2025 order book exceeding Rs 550 crore.

The quarterly earnings were shared after the market hours. The stock settled 0.06% lower at Rs 3,415.70 apiece on the NSE, compared to a 0.09% advance in the benchmark Nifty 50.

Titan's shares have risen 2.69% in the last 12 months and 5% year-to-date.

Out of 34 analysts tracking the company, 23 maintain a 'buy' rating, six recommend a 'hold' and five suggest 'sell', according to Bloomberg data. The average 12-month consensus price target of Rs 3,834 implies an upside of 12.2%.