Titan's AdEx for Q1 FY26 at Rs328 cr; C.K. Venkataraman says the brand's premium strategy validated
Titan Company’s quarterly profit surged 34% to ₹1,030 crore in Q1FY26, beating estimates, as strong jewelry and watch sales offset high gold prices.
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Titan Company Ltd., the jeweler and watchmaker that owns brands including Tanishq and CaratLane, reported a 34 percent increase in standalone net profit for the quarter ended June 30, 2025, as resilient demand for gold jewelry and premium watches helped offset the impact of high metal prices. Titan's consolidated advertising expenses for Q1 FY26 stood at ₹328 crore compared to ₹320 crore in the previous quarter. For the year ended March 31, 2025, the AdEx was ₹1308 crore.
“Q1FY26 has been an encouraging start to the fiscal year with 21% consolidated revenue growth, demonstrating the strength of our diversified business model,” said C.K. Venkataraman, Titan’s managing director.
“Our Jewellery business continues to show remarkable resilience despite headwinds from elevated gold prices. Consumer confidence in gold as both adornment and store of value remains intact, supporting our market leadership position. Watches delivered one of its best-ever quarters, achieving exceptional performance in both revenue growth and margins. This validates our premiumization strategy and the strong consumer connect our brands have established. EyeCare has been clocking three quarters of double-digit growth, and we are confident of accelerating this momentum in the coming quarters as we expand our reach and enhance our product offerings. Our Emerging brands of SKINN, IRTH and Taneira have made substantial progress in optimizing their business mix and are well-positioned to capture greater market share. Our international operations continue to deliver strong growth, opening new avenues for expansion. We remain optimistic about our growth trajectory and our ability to create long-term value across all business segments.”
Jewelry Drives Growth
Titan’s jewelry division, which includes the Tanishq, Mia and Zoya brands in India, posted a 19 percent rise in total income to ₹12,797 crore. Domestic sales for those brands rose 18 percent to ₹11,217 crore, while CaratLane’s revenue jumped 39 percent to ₹1,026 crore. The international jewelry business surged 49 percent to ₹554 crore, marking its first-ever profitability.
In a stock exchange filing, the company noted: “High gold prices and challenging market conditions saw customers gravitate toward gold purchases driving better growths in gold jewellery and coins, vis-a-vis studded. Ticket size improvement largely offset the impact of elevated gold prices on customer traffic in the quarter. CaratLane's targeted gold coin promotion saw excellent consumer response driving healthy customer acquisition. The International Jewellery business clocked healthy double-digit growths in both UAE and North America regions achieving its first ever profitability.”
The jewelry portfolio as a whole recorded earnings before interest and taxes (EBIT) of ₹1,408 crore, with a margin of 11 percent.
Watches Post Exceptional Quarter
The watches segment delivered what the company described as an “exceptional” performance, with revenue climbing 24 percent to ₹1,273 crore. EBIT came in at ₹287 crore, for a margin of 22.6 percent.
Eye Care Maintains Momentum
EyeCare revenue grew 13 percent to ₹238 crore, with EBIT of ₹20 crore and a margin of 8.4 percent. Sunglasses sales outpaced prescription products, aided by seasonal demand. Titan added a new store in Sharjah, United Arab Emirates, during the quarter, while in India the company continued to streamline operations, closing 20 stores on a net basis.
