Titan Company (TITAN) Q3 25/26 earnings summary

Executive summary

• Achieved 40% year-over-year consolidated revenue growth in Q3FY26, driven by strong festive demand and robust execution across jewellery, watches, and emerging businesses.

• Jewellery business delivered its highest-ever quarterly revenue, with 42% growth and strong performance in both domestic and international markets.

• Watches and EyeCare segments maintained double-digit growth, supported by new launches and premiumization.

• Completion of 67% stake acquisition in Damas Jewellery in the GCC post-quarter, expanding international presence and consolidated reporting importance.

• Launched 'beYon', a lab-grown jewellery brand, and received multiple awards for design and HR initiatives.

Financial highlights

• Q3FY26 consolidated total income reached ₹25,567 crore, up 40% year-over-year; EBIT was ₹2,657 crore, up 63% YoY, with EBIT margin at 10.8%.

• Profit after tax for Q3FY26 was ₹1,684 crore, with a PAT margin of 6.8%.

• 9MFY26 consolidated total income was ₹61,032 crore, up 33% YoY; TTM profit after tax was ₹4,800 crore.

• Exceptional item of ₹152 crore due to revised wage structure under new labour codes.

• No one-off hedging gains or losses in Q3; last year’s Q3 had a custom duty gain.

Outlook and guidance

• Management remains optimistic about sustained growth, focusing on innovation, customer engagement, premiumization, and expansion into new geographies and segments.

• Too early to provide guidance for the rest of Q4 due to ongoing gold price volatility.

• Strategic investments in new brands and international acquisitions to drive future growth.

• CaratLane expected to maintain low double-digit EBIT margins as scale increases.