The company’s consolidated revenue jumped 28.5% year-on-year to Rs 18,837 crore in Q2 FY26 from Rs 14,656 crore in Q2 FY25, driven by festive-led jewellery demand, robust international expansion, and double-digit growth across segments.
EBITDA rose 46.3% YoY to Rs 1,987 crore, while EBITDA margin improved 209 basis points to 12.1% from 10% a year earlier. Profit before tax (PBT) increased 60.5% YoY to Rs 1,522 crore, and profit after tax (PAT) surged 59% YoY to Rs 1,120 crore, translating to a PAT margin of 6.8%, up 163 basis points from the prior year.
The jewellery business remained the crown jewel, with total income (excluding bullion and Digi-Gold) rising 21% YoY to Rs 14,092 crore. Domestic jewellery brands — Tanishq, Mia, and Zoya — grew 18% to Rs 12,460 crore, while CaratLane delivered an impressive 32% YoY growth to Rs 1,072 crore. International jewellery revenue nearly doubled to Rs 561 crore, driven by strong traction in UAE and North America.
The watches segment revenue grew 13% YoY to Rs 1,477 crore, with an EBIT of Rs 238 crore, reflecting a healthy 16.1% margin for the quarter. Growth was supported by premiumisation and strong performance from Fastrack and Titan brands.
The eyecare business revenue increased 9% YoY to Rs 220 crore, with EBIT at Rs 12 crore (5.3% margin). Sunglasses outperformed prescription eyewear, driven by higher sales in both in-house and international brands.
In the emerging businesses, the combined portfolio of Taneira, Fragrances, and Women’s Bags grew 34% YoY to Rs 142 crore. Segment losses narrowed to Rs 24 crore, from Rs 29 crore a year earlier, reflecting improving efficiency. Women’s Bags saw 90% growth, while Fragrances expanded 47% YoY, led by Skinn and Fastrack perfumes.
Titan Engineering & Automation Ltd (TEAL) recorded stellar growth, with revenue more than doubling 112.2% YoY to Rs 415 crore.
C K Venkataraman, managing director of the company stated that: "The quarter witnessed a slow start and performance progressively improved with the early festive commencement in September. The demand momentum in Navratri was particularly strong leading to a healthy 21% growth in Q2FY26. Our Jewellery business, in particular, benefitted immensely from this late surge underscoring the brand strengths and enduring consumer affinity for our brands Tanishq, Mia, Zoya and CaratLane.
During the quarter, Titan announced its plan to acquire a controlling stake in 'Damas Jewellery', one of the most prominent and trusted brands in the GCC region. This acquisition marks a significant step forward in our ambitions, reinforcing our commitment to delivering exceptional value to our customers globally. With the festive season driving positive consumer sentiment, we remain focused on strengthening brand salience and accelerating growth across all our businesses."
Titan is India's leading lifestyle company. It ha established leading positions in the jewellery, watches and eyecare categories. It has also diversified into wearables, indian dress wear and fragrances & fashion accessories.