Titan Company shares rose around 3% to fresh record high of Rs 4,379.95 on BSE on Wednesday morning after the company delivered a strong performance in Q3FY26, supported by robust festive demand and healthy growth across key business segments.
The consumer discretionary major reported a 61% year on year rise in consolidated net profit to Rs 1,684 crore, while total income for the quarter increased 40% to Rs 24,592 crore. EBIT, excluding exceptional items, grew 63% YoY to Rs 2,657 crore, with operating margins expanding by 155 basis points to 10.8%, reflecting operating leverage and an improved product mix.
The jewellery segment continued to be the primary growth driver, with revenues rising 42% to Rs 22,517 crore. The India jewellery business recorded a 41% increase in income to Rs 21,458 crore, marking one of its strongest quarterly performances outside Covid impacted periods. Growth was led by festive and wedding demand, exchange programmes, festive collections and attractive coin offers, even as gold prices remained elevated. The international jewellery business also reported double digit retail growth, supported by store expansion and strong like for like sales.
Combined revenues from Tanishq, Mia and Zoya increased 40% to Rs 19,921 crore during the quarter, while CaratLane posted 42% growth to Rs 1,537 crore. The jewellery business reported an EBIT of Rs 2,475 crore with margins at 11%, while the India jewellery business alone delivered an EBIT of Rs 2,365 crore.
The Watches and Wearables segment saw strong festive traction, particularly in gifting led demand. The analogue watch category remained the key growth engine, registering 20% growth in consumer sales along with healthy same store sales across major retail formats. Premiumisation continued across Titan, Fastrack and Sonata brands, all recording double digit growth. However, smartwatch volumes declined 27% year on year amid demand moderation.
Overall, the Watches business reported total income of Rs 1,295 crore, up 14% from Q3FY25, with EBIT of Rs 156 crore and margins of 12%. Meanwhile, the EyeCare business delivered a steady performance, driven by strong demand for lenses and sunglasses. The segment’s revenue grew 18% to Rs 231 crore, while EBIT stood at Rs 24 crore with margins of 10.5%.
Commenting on the results, Managing Director Ajoy Chawla said the festive period sparked broad based consumer interest across Titan’s portfolios, highlighting resilience across both premium and accessible segments. He added that the company remains focused on strengthening brand equity, deepening customer engagement and driving sustainable growth through innovation.
On the market front, Titan Company shares closed marginally higher by 0.27% at Rs 4,269.10 on Tuesday.
From a technical perspective, the stock’s 14 day RSI stands at 66.9, indicating strong momentum while remaining below overbought levels. The stock is also trading above all eight key simple moving averages, signalling a bullish technical trend.
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