Titan’s jewellery business drives strong Q3 FY26 results, with 42% revenue growth and net profit up 61% to ₹1,684 crore during the festive season.

New Delhi: Titan Company Limited, backed by the Tata Group, announced excellent results for the third quarter of FY26 on February 10, 2026. The company’s consolidated net profit increased 61% year-on-year (YoY) to ₹1,684 crore, compared to ₹1,047 crore in Q3 FY25. Profit also rose 50.3% compared to the previous quarter (Q2 FY26), when it stood at ₹1,120 crore. The strong performance was mainly driven by high festive demand and rising gold prices.

Revenue from operations grew 42% YoY to ₹24,915 crore, compared to ₹17,550 crore in the same quarter last year. On a quarter-on-quarter (QoQ) basis, revenue increased 51.2% from ₹16,461 crore. Total income stood at ₹24,592 crore, up 40% YoY.

EBIT rose 63% YoY to ₹2,657 crore, and margins improved by 155 basis points to 10.8%. EBITDA increased 62.1% YoY to ₹2,713 crore, with margins rising to 10.67% from 9.54% last year. However, total expenses also increased 40% YoY to ₹23,192 crore from ₹16,472 crore.

Segment-Wise Performance

Jewellery Division

Titan’s jewellery business, its largest segment, performed strongly. Revenue from jewellery reached ₹22,517 crore, up 42% YoY.

• India jewellery revenue stood at ₹21,458 crore, up 41% YoY.
• EBIT from India jewellery was ₹2,365 crore, with an 11% margin.
• Combined revenue from Tanishq, Mia, and Zoya was ₹19,921 crore, up 40% YoY.
• CaratLane reported revenue of ₹1,537 crore, up 42% YoY.
• Overall jewellery EBIT was ₹2,475 crore, with an 11% margin.

Growth was supported by strong customer demand during the festive season. Titan attracted buyers through gold exchange programs, new jewellery collections, bundled offers, and rising gold prices (which increased about 12% during the quarter).

International jewellery business also saw double-digit retail growth. Titan added 49 new stores during the quarter — 47 in India and 2 Tanishq stores in the USA.

Watches and Wearables

Revenue from watches and wearables was ₹1,295 crore, up 14% YoY from ₹1,137 crore. EBIT stood at ₹156 crore, with a 12% margin.

• Analog watches saw 20% growth in consumer sales.
• Growth was supported by strong same-store sales and increased demand for premium models under Titan, Fastrack, and Sonata brands.
• However, smartwatch volumes declined 27% YoY, as festive buyers preferred gifting analog watches.

EyeCare Business

EyeCare revenue increased 18% YoY to ₹231 crore.

• EBIT stood at ₹24 crore, with a 10.5% margin.
• Growth was driven by high single-digit volume growth and a mid-single-digit rise in average selling prices.
• Both lenses and sunglasses recorded double-digit growth.

Strategic Initiatives

During the quarter, Titan launched several new initiatives:

• Introduced “beYon”, its lab-grown diamond brand.
• Appointed Ananya Panday as Tanishq’s brand ambassador.
• Launched Mia’s Valentine’s Day collection featuring Aneet Padda.
• Named Abhishek Sharma as Xylys brand ambassador.
• Started Sonata’s “Watch Out For Us” campaign targeting young consumers.

Analyst Expectations for Q3 FY26

Brokerage firms had expected a strong quarter for Titan.

• Consolidated revenue growth was estimated at around 29% YoY.
• Standalone revenue was expected to grow 28–40% YoY to about ₹22,500 crore (excluding bullion sales), compared to ₹16,097 crore in Q3 FY25.
• Profit after tax (PAT) was expected to rise 35–50.5% YoY to ₹1,325–₹1,490 crore, compared to ₹990 crore last year.
• EBITDA was projected to grow 51% YoY to ₹2,280 crore.
• Margins were expected to improve to 10.1% from 9.4%.

Motilal Oswal estimated standalone jewellery revenue growth at 28% (excluding bullion), with Tanishq’s like-to-like (LTL) growth at 23%. However, it warned that jewellery EBIT margin could decline by 50 basis points YoY to 10.7%, due to higher gold coin sales during record gold price levels, which affected product mix.

Analysts also highlighted strong double-digit growth in non-jewellery segments and increasing premiumization, though gold price inflation could pressure margins.

Comparison with Q2 FY26

In Q2 FY26, Titan reported:

• Revenue of ₹18,837 crore (up 28.5% YoY)
• PAT of ₹1,120 crore (up 59% YoY)
• PAT margin of 6.8%

The Q3 performance builds on this strong momentum, supported by festive season demand.

Share Price Movement and Market Sentiment

Before the results announcement:

• Titan shares rose 2% on February 9, 2026.
• The stock touched an intraday high of ₹4,237.5 on BSE.
• After the January business update, the share price rose 4.46% to ₹4,294.50.
• The stock gained 4.13% during the week of February 2–6, 2026, outperforming the Sensex.

Long-term performance:

• 21.94% return over six months
• 27.09% return over one year

Technical indicators remain positive, including MACD, Bollinger Bands, and KST signals. Titan reported a strong 22.52% Return on Capital Employed (ROCE) and 40.73% YoY PAT growth for the nine months ended September 2025.

Broader Market Context

Titan’s results come on a busy earnings day, with more than 280 companies announcing Q3 results, including Grasim Industries, Eicher Motors, Britannia Industries, and Apollo Hospitals.

Investors will closely watch Titan’s guidance on future demand, especially considering gold price fluctuations, and its plans to grow eyewear, wearables, and international markets.

Titan Company, with its wide portfolio including jewellery, watches, eyewear, fragrances, and other lifestyle products, continues to benefit from strong brand value and expansion plans. As a major player in India’s consumer sector, its results are likely to influence overall market sentiment and stock movement.

Also Read on jabalpur today: Titan Q3 FY26 Results Today: 35–50% Profit Growth Expected Amid Strong Festive Demand and High Gold Prices