Jewellery and watch maker Titan Co Ltd on Tuesday reported a strong 40 per cent year-on-year growth in standalone revenue during the December quarter of FY26, aided by surging gold prices.
According to its latest quarterly update, the Tata Group firm said its jewellery division, which contributed around 85 per cent of its business, "clocked a robust 41 per cent YoY growth in Q3FY26".
"Revenue growth was driven by substantial average selling price increases, offsetting flattish buyer growth," the company said.
During the reporting quarter, its flagship jewellery brand Tanishq deployed a gold exchange offer to navigate the elevated gold price environment and sustained consumer engagement beyond the traditional festive window.
On buying trends, Titan said "distinct consumer patterns" were observed across product categories.
"Gold coins nearly doubled in sales v/s Q3FY25, reinforcing their strong investment proposition," it added.
The gold (plain) category grew strongly in the late-thirties, reflecting a preference for design-led, aesthetic premium offerings during the wedding and festive season.
Studded jewellery also clocked its best performance for FY26, exhibiting healthy "double-digit growth in the mid-twenties" and was well supported by buyer growth in the sub-segment. "The like-to-like growths (secondary) across all jewellery retail formats (combined) were in the low-thirties," Titan said.
During the quarter under review, Titan added 47 stores in its jewellery business, taking the total number to 1,167.
Of these, 24 stores were added under CaratLane, a brand acquired by the company, taking its total count to 365.
In FY25, revenue from operations of Titan, a joint venture between the Tata group and the Tamil Nadu government, stood at Rs 57,339 crore. Its jewellery division contributed Rs 46,571 crore, up over 81 per cent year-on-year.
The company’s domestic watch business clocked a growth of 13 per cent, driven by analogue clock sales, which reported a 17 per cent growth, aided by festive demand.
"Premiumisation trends resulted in solid double-digit gains for the Titan brand, complemented by healthy volume expansion during the festive period," it said.
Its affordable and budget-friendly brands Sonata and Fastrack also witnessed notable consumer traction, delivering robust double-digit value growth supported by strong volume momentum.
However, Titan’s "smart watches category declined 26 per cent YoY, led by lower volumes, whereas their ASPs (average selling prices) were broadly flattish YoY".
The watches division added 22 new stores, including 9 Titan World stores, 9 Fastrack stores, 3 Helios stores and 1 Helios Luxe store.
Titan’s eye care business grew 16 per cent in domestic sales, contributing well to the overall product mix.
Among emerging businesses, the fragrance vertical grew 22 per cent, led by double-digit volume growth in Fastrack and Skinn brands. The women’s bags category grew two-fold, or 111 per cent, led by network expansion.
This growth was "driven by nearly two-fold growth in overall volumes and healthy double-digit ASP growth in Fastrack and Irth brands", the company said.
Sales of its Indian dresswear business Taneira, however, declined by 6 per cent year-on-year.
"Despite double-digit ASP growth across sarees and the ready-to-wear portfolio, lower volumes more than offset this benefit, resulting in an overall YoY decline," Titan said.
Its international businesses, primarily comprising jewellery brands Tanishq, Mia and CaratLane, grew 81 per cent year-on-year, led by robust performance across markets in the GCC, Singapore and North America.
"During the quarter, Tanishq opened 2 new stores in the NA market, one each in Boston and Orlando," it said.
