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Thriving Jewelry Enterprise of Titan Sets Sights on Rapid Growth during Q2

Titan Corporation's jewellery sector preserves a dominant position within the domestic market during the initial quarter of FY26, attributable to an increase in sales of gold and adorned jewellery pieces.

Titan's jewelry enterprise maintains market position; accelerated growth expected in Q2
Titan's jewelry enterprise maintains market position; accelerated growth expected in Q2

Thriving Jewelry Enterprise of Titan Sets Sights on Rapid Growth during Q2

Titan Company's Q1 FY26 Performance: Focus on Retail Transformation and Expansion

August 12, 2025

Titan Company, a leading Indian conglomerate, reported a strong performance in the first quarter of the financial year 2025-2026 (FY26). The company posted a consolidated Profit After Tax (PAT) of ₹1,091 crore, marking a 53% year-on-year increase, and a total income of ₹14,966 crore, a 21% rise.

The company's Tanishq division, a significant contributor to the overall revenue, sustained its national market share in Q1 FY26. Despite a slower store expansion compared to plans, with only three new stores opened, the focus was on enhancing existing stores. Eight existing outlets were relocated or expanded into larger formats to improve customer experience and sales productivity. This approach reflects an ongoing retail transformation strategy rather than a slowdown due to external factors.

Ajoy Chawla, CEO - Jewellery of Titan Company, highlighted the need for greater innovation in the studded jewellery market and expressed optimism about acceleration in Q2, with many store launches timed ahead of the festive season in October. He also noted that in markets where Titan's base is high, newer national entrants may show similar same-store growth.

C. K. Venkataraman, Managing Director of BlueStone, attributed the softer-studded performance to consumption constraints and competitive intensity. He also mentioned that the U.S. contributes less than 2% to the company's sales, making current tariff-related developments less critical in the short term. However, he revealed that the international jewellery business is expanding, with recent investments in the GCC marking a significant push in that market. The GCC jewellery business is expected to become a significant portion of the company's sales, potentially accounting for around 6% of total sales.

The geography mix influences product preferences, with some markets skewing towards gold, others towards studded jewellery, and some towards higher- or lower-value segments. The jewellery division grew 19% to ₹12,797 crore, driven by higher gold jewellery and coin sales.

Venkataraman noted that market signals remain volatile and advised against any hasty pricing decisions. Chawla believes that value growth in studded jewellery will depend on exciting customers across various price points, including the ₹2-8 lakh range.

The BlueStone Jewellery and Lifestyle IPO is in its second day today, marking another significant step in the company's growth trajectory. With a strategic focus on retail transformation and expansion, Titan Company is well-positioned to navigate current market challenges and deliver strong performance in the future.

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