Newsletter
Titan started FY27 strong, with profit and revenue rising sharply in Q1. Its jewellery business led growth, helped by healthy consumer demand.
By the numbers:
- Net profit: ₹1,777 crore, up 63% YoY
- Total income: ₹20,753 crore, up 40%
- Jewellery revenue: ₹18,253 crore, up 43%
But there’s a catch: ₹407 crore of the profit growth came from customs duty gains on gold. Even without this one-off boost, profit before tax grew 37%.
What else is driving the growth: strong jewellery demand remains the biggest driver, helped by festive purchases, Akshaya Tritiya sales, exchange programmes and relatively stable gold prices.
Titan’s India jewellery business grew 38% to ₹16,943 crore. Tanishq, Mia and Zoya grew 38% to ₹15,502 crore, while CaratLane rose 40% to ₹1,441 crore.
The international business grew even faster, 136% to ₹1,309 crore, driven by Tanishq’s growth in North America and double-digit growth in the GCC. Damas also contributed ₹396 crore after its acquisition.
Overall, jewellery delivered ₹2,360 crore in EBIT, with a 12.9% margin. In India, EBIT stood at ₹2,368 crore with a 14% margin, or 11.6% excluding the customs duty gain.
