TITAN · Titan Company Limited · NSE · Filed 7 Aug · 1 min read

Titan's Q1 FY27 revenue rises 40%, led by jewellery and international business

Titan's consolidated total income rose to about ₹20,753 crore for the quarter ended 30 June 2026, with reported profit before tax up 64% — but the filing notes the figure includes a one-time custom duty gain.

What was filed

Titan Company reported unaudited standalone and consolidated results for the quarter ended 30 June 2026 (Q1 FY27), approved by its Board on 7 August 2026. Statutory auditors B S R & Co. LLP issued an unmodified limited review report. The filing describes broad-based growth across the company's four verticals — Watches, Jewellery, EyeCare and Others — alongside an accelerating international jewellery business.

Where the growth came from

Per the filing, jewellery remained the anchor. The company attributed the quarter's strength to festive and Akshaya Tritiya demand and a relatively stable gold price environment, citing double-digit buyer growth and higher average ticket sizes. Within jewellery, the international business scaled sharply, with the company pointing to strong North America traction for Tanishq and the newly consolidated Damas operations in the GCC. The international jewellery business nonetheless recorded a small overall loss for the quarter, including a ₹67 crore loss in the Damas core business. Watches grew on analog premiumisation while smart watches declined in single digits, and EyeCare grew on premium offerings. The subsidiary Titan Engineering & Automation (TEAL) also grew strongly.

Reading the reported profit

The company flagged that reported consolidated profits include custom duty gains of ₹407 crore for the quarter. Adjusting for the impact of the custom duty increase on gold, management said profit before tax grew 37% versus Q1 FY26, rather than the 64% headline figure. A separate one-time item sits in the prior comparatives: the March 2026 quarter carried a ₹(51) crore exceptional item tied to the newly notified Labour Codes, which is not present in the current quarter. Managing Director Ajoy Chawla described a quarter that demanded agility on gold prices, duty-structure changes and geopolitical headwinds across international operations.

Consolidated total income (Q1 FY26): ₹14,778 → ₹20,753 crFY26 → Q1 FY26+40%^‡
Profit before tax (Q1 FY26): ₹1,480 → ₹2,429 crFY26 → Q1 FY26+64%^‡
Profit after tax (Q1 FY26): ₹1,091 → ₹1,777 crFY26 → Q1 FY26+63%^‡
Net margin ‡: 7.4% → 8.6%FY26 → Q1 FY26+1.2 pp

Custom duty gain in reported profit: ₹407 crore
Adjusted PBT growth (ex-custom duty): 37%
Jewellery portfolio revenue (Q1 FY27): ₹18,253 crore
Watches revenue (Q1 FY27): ₹1,543 crore
EyeCare revenue (Q1 FY27): ₹289 crore
Basic EPS (Q1 FY27): ₹20.03

‡ Computed by us from the filing’s own figures — not a company-stated number.

For a holder, the quarter shows continued top-line momentum led by jewellery and a growing international footprint, but the filing itself notes that reported profit carries a ₹407 crore custom duty gain — the distinction management drew between the 64% headline PBT growth and the 37% adjusted figure. The recently consolidated Damas business remains loss-making at the core level per the filing.